This is a tutorial of how to get the Chase Sapphire Reserve card, it's the most exciting new credit card, just came out one month ago in features three points per dollar on travel and dining airport lounge access, a three hundred dollar travel credit load of other cool features.
I'm going to tell you how to get approved for it
For a $400, $450 annual fee, the $300 travel credit, if you use it brings the fee down to only $150 per year. It is an awesome product, and I'm going to tell you how to get approved for it.
I just got approval of the card like three days ago, and I had a credit score of 743, I would say if your credit score is lower than that, if it's lower, maybe low suddenly if it's lower than 700, don't even bother with this card, get some other cards, maybe a platinum from Capital One, perhaps American Express, everyday credit card start building your credit, and wait till you're over certainly over 720 before you try applying for this one.
But I was 743 on a FICO score, and the hard inquiry brought me down to 740, and so I'm 740 right now. First I got refused this card and the principle reason I got this letter from Chase, and the main reason I was refused to look was.
So if you think that you have been under the 5/24 rule and you get refused phone them up and clarify these are accounts, I'm not the main user, those are just additional cards from someone else's account, your wife, or your husband, or someone in your family. And if you're under the port 5/24 cards in the last 24 months you should have no problem from that point of view.
Call the banker to clarify
When I talked to the lady I explained what I just told you about, I only opened four cards in the last 24 months, and then she asked for some additional information.
Don't need a huge salary for applying
She asked about my income, actually even though it's a premium card you don't need a hugely high income to get this card.
My income was not over the average household income for the US, it's around I think the average household income, is around fifty thousand right now I think, but anyway I certainly didn't have an income higher than that, and I still got approved for the card.
But one thing I will say is that I do not have any negative information in my credit history, my credit history is short, only 11 months.
I got my credit card, first credit card, last year last summer, as I have 11 months of credit history with no missed payments, and that's pretty crucial because miss payments have quite a serious effect on your credit score.
Just to recap, you don't need a huge salary, you do need a salary, you need to show income for this card, but you don't need a huge salary.
Call that reconsideration line
I would say you will get it. If you don't get approved straight away and you haven't got over five new accounts in the last 24 months, you have a very good chance of getting it if you call that reconsideration line.
However, people are saying don't call the reconsideration line immediately wait until you receive a letter confirming that you've been denied, because they do have an automatic system that if you don't get approved straight away online.
There's an automatic system that takes you through another round of checks that may then approve you. Do wait until you receive that actual letter, I can't wait until I get my card through the post, as soon as I got approved online, I checked on my Chase app.
And within ten minutes I did have a Chase Sapphire reserve screen on there on the app even before the card arrives at your house. You can go in there and set up some stuff, request your priority pass airport lounge card, and go through and start checking out the features.