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TBhk

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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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