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Chase Sapphire Reserve Approval Problem
Hi everyone,

I applied for the Chase Sapphire Reserve on Wednesday, got a 7-10 days message, and after calling the recon line I was denied (by a very nice man). Although my credit profile itself looks good (no missed payments, 2% credit usage across 4 cards, only 1 new card in the last 24 months), he said that I was denied because the Sapphire Reserve is a "very premium high level card and I don't have the kind of cards right now in that ball park, so they can't justify giving it to me". I'm new to this, and I'm trying to figure out what I need to change and by how much in order to get into the right "ball park". Here's the cards that I had as of that call:

BoA Cash Rewards, $500 CL
BoA Travel Rewards, $2500 CL
Chase Amazon Rewards, $500 CL
Mastercard (with very low APR!) through my school's credit union: $2750 CL
Equifax score: 720
Experian: 740 (which is what they pulled)
Income: $50k

My understanding is that since the Reserve basically has a minimum $10 000 starting limit, they don't want to give me a card with that kind of limit if I don't have any other credit lines with comparable limits. Makes sense. My question is, when will my limits be high enough to reasonably qualify for the Reserve?

I went to my credit union yesterday to ask about a CL on my Mastercard since I figured that they would be easiest to convince to give me the highest limit, and they upped it to $7500. This isn't quite $10 000, but is having one card at $7500 maybe enough for Chase to justify giving me a $10k limit sapphire reserve if everything else in my credit history looks good? Would it be a good idea to call recon again at this point?? Or do I need maybe at least one more card to have a higher limit in that ballpark? I think that if I asked BoA to up my travel rewards limit, I could get at least to $5k, but I don't want to do it if my Mastercard being upped to $7500 might be enough....

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Give it time. Your credit limits are relatively low. The cards you have also aren't elite or premium cards and no Chase cards currently. The Chase Reserve charges a $450 hefty yearly fee,  as does American Express Platinum. Do you really need this card? I suggest you see if you're pre-qualified for Chase Sapphire Preferred which charges a $95 yearly fee. Great rewards on dining and traveling. Look at their website as they also have specific branded cards for various hotel chains.

The only way $450 fees might behoove you if you travel a LOT, and require and use VIP concierge airport lounges and baggage credits if you have extra luggage fees. 

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Chase likes to "match" what you have in your protfolio. This means that you need to have credit lines around $10k for Chase to consider you for the CSR. For the CSP,  you would generally have VIsa Signature cards (or World Elite Mastercards) in your portfolio which would have credit lines of at least $5k. $7500 with the credit union is a start but the more the merrier. At this point you might qualify for the CSP.

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