Chase Sapphire Preferred Approved with a Bad Score

[keluric]

Been there, done that on the high utilization. Enjoy your new CSP!

[alextercero]

Congrats on your approval!

[Legal_Girl]

Congratulations on the 5k approval.

I have found Chase to be a little unusual, not as unusual as Cap 1, however. I have a Chase Freedom Unlimited that has been at $1,500 for I don't know how long. I don't ask for increases as I would rather credit card companies/banks just surprise me with an increase. I went on the Chase website this weekend to pay my CFU and noticed every card was preapproved. I thought, oh well, why not. I filled in the little bit of info the site asked for and it came back in several seconds as approved with $20,500.  I would have have rather had that amount on my CFU, but I guess Chase knows best, LOL. 

[Horseshoez]

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@Legal_Girl wrote:

Congratulations on the 5k approval.

I have found Chase to be a little unusual, not as unusual as Cap 1, however. I have a Chase Freedom Unlimited that has been at $1,500 for I don't know how long. I don't ask for increases as I would rather credit card companies/banks just surprise me with an increase. I went on the Chase website this weekend to pay my CFU and noticed every card was preapproved. I thought, oh well, why not. I filled in the little bit of info the site asked for and it came back in several seconds as approved with $20,500.  I would have have rather had that amount on my CFU, but I guess Chase knows best, LOL. 

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Based upon what I've read here and what I've experienced myself, Chase is inclined to bestow much higher limits for the second card you get from them.  I started with a CSP at $11,700 and six months later was approved for a CFU with a limit of $23,600.

[Linnaea]

Interesting data points.  Thank you for the share and inspirational story.  

[Hex]

@dhop08  Where did you get the 590 score from?

[youngandcreditwrthy]

you sound like my mom bro lol @dhop08 

[youngandcreditwrthy]

Congrats!!! We've all been there LOL at least you're learning your lesson. I know I learned mine paying off 150k in cc debt (and my score was at its highest with that much debt LOL!

[Legal_Girl]

That is definitely good to know!  Thank you.

[Zoostation1]

@dhop08Congrats on the approval!  Was that score a Vantage or FICO score? If you don't have any late payments on your report, I don't think you could get down to 590 in FICO 8 or most (if not all) models. VantageScore 3.0 is used a VERY small number of lenders. 4.0 isn't used by a many either, but moreso than 3.0  (notably Synchrony uses it, and it along with FICO 10T has been approved for future mortgage usage - transition to these has not started yet as far as I know).