How to Get Approved for the Chase Sapphire Preferred® Card
Airports are my second home. And I don’t mean that in the “I spend a lot of time traveling for work and vacations” kind of way. I mean that I physically live in the airport. My bed is a cot in the United Club, my closet is Terminal B, and my kitchen is made up of the vending machines that line the concourses. Okay, that might be a slight exaggeration. But I do love airports and prefer to spend my time there instead of at my actual home. And one of the best ways to make airport life more enjoyable is to have a great travel rewards credit card. That’s why I was so excited to get approved for the Chase Sapphire Preferred® Card. This card offers 2X points on dining and travel and 1X point per dollar on all other purchases. Plus, you get a $95 annual travel credit, which can be used to offset the cost of things like airline tickets, hotel stays, and rental cars. If you’re a frequent traveler, the Chase Sapphire Preferred® Card is definitely worth considering.
But getting approved for the Chase Sapphire Preferred® Card is not always easy. In fact, it has a reputation for being one of the harder Chase cards to get. But don’t worry, I’m here to help. In this post, I’ll share everything you need to know about getting approved for the Chase Sapphire Preferred® Card, including the requirements, the application process, and some tips to increase your chances of getting approved.
Understanding Your Credit Score
Before you apply for the Chase Sapphire Preferred® Card, it’s important to understand your credit score. Your credit score is a number that lenders use to assess your creditworthiness. It is based on a number of factors, including your payment history, your credit utilization ratio, and the length of your credit history. A higher credit score means that you are a less risky borrower, and you are more likely to be approved for a credit card with a high credit limit and a low interest rate. You can check your credit score for free at websites like Credit Karma and NerdWallet.
The Chase Sapphire Preferred® Card Requirements
In order to be approved for the Chase Sapphire Preferred® Card, you will need to meet the following requirements:
- A good or excellent credit score (700 or higher)
- A steady income
- A low credit utilization ratio
- No recent bankruptcies or foreclosures
If you meet these requirements, you are more likely to be approved for the Chase Sapphire Preferred® Card. However, it is important to note that meeting the requirements does not guarantee approval. Chase will also consider other factors, such as your debt-to-income ratio and your employment history.
The Chase Sapphire Preferred® Card Application Process
To apply for the Chase Sapphire Preferred® Card, you can either go online or call the Chase customer service number. The online application process is simple and straightforward. You will need to provide some basic information, such as your name, address, and Social Security number. You will also need to provide information about your income, your employment history, and your debt. The application process typically takes about 10 minutes to complete.
Once you have submitted your application, Chase will review your information. If you are approved, you will receive a welcome packet in the mail within 7-10 business days. The welcome packet will include your credit card, as well as information about your account. If you are not approved, Chase will send you a letter explaining the reasons for the denial.
Tips for Increasing Your Chances of Approval
If you are not sure if you will be approved for the Chase Sapphire Preferred® Card, there are a few things you can do to increase your chances of approval. First, make sure that your credit score is as high as possible. You can do this by paying your bills on time, keeping your credit utilization ratio low, and avoiding unnecessary credit inquiries. Second, make sure that you have a steady income and a low debt-to-income ratio. Third, be prepared to provide documentation to support your income and debt. Finally, be honest and accurate on your application. Don’t try to embellish your income or hide any debts. Chase will be able to verify your information, and any discrepancies could lead to your application being denied.
Chase Sapphire Preferred® Card Reviews
The Chase Sapphire Preferred® Card has received positive reviews from both consumers and experts. Many people praise the card’s generous rewards program, its low annual fee, and its excellent customer service. However, some people have complained about the card’s high interest rate and its limited travel benefits. Overall, the Chase Sapphire Preferred® Card is a great choice for frequent travelers who want to earn rewards on their travel spending. However, it is important to compare the card to other options before applying to make sure that it is the right card for you.
Conclusion
The Chase Sapphire Preferred® Card is a great credit card for frequent travelers. It offers a generous rewards program, a low annual fee, and excellent customer service. However, getting approved for the card is not always easy. By understanding the requirements, the application process, and the tips for increasing your chances of approval, you can increase your chances of getting approved for the Chase Sapphire Preferred® Card and start enjoying all of its benefits.
Are you interested in learning more about the Chase Sapphire Preferred® Card? Let me know in the comments below.
FAQ
Q: What is the Chase Sapphire Preferred® Card?
A: The Chase Sapphire Preferred® Card is a travel rewards credit card that offers 2X points on dining and travel and 1X point per dollar on all other purchases. The card also comes with a $95 annual travel credit and a variety of other benefits.
Q: What are the requirements for the Chase Sapphire Preferred® Card?
A: To be approved for the Chase Sapphire Preferred® Card, you will need a good or excellent credit score (700 or higher), a steady income, a low credit utilization ratio, and no recent bankruptcies or foreclosures.
Q: How do I apply for the Chase Sapphire Preferred® Card?
A: You can apply for the Chase Sapphire Preferred® Card online or by calling the Chase customer service number.
Q: What are the benefits of the Chase Sapphire Preferred® Card?
A: The benefits of the Chase Sapphire Preferred® Card include 2X points on dining and travel, 1X point per dollar on all other purchases, a $95 annual travel credit, and a variety of other benefits, such as trip delay insurance and lost luggage reimbursement.
Q: What are the drawbacks of the Chase Sapphire Preferred® Card?
A: The drawbacks of the Chase Sapphire Preferred® Card include a high interest rate and limited travel benefits.
