If you don’t clearly understand a denial, you can contact the card issuer and inquire about your application. By law, the card issuer is required to explain why you were denied, but the language used may not be clear. Having your application for a credit card denied can be surprising and confusing. If you have had five or more new cards in the two years before you began considering the Chase Sapphire Preferred, you’re better off waiting until that is no longer the case. This unpublished rule states that you cannot get approved for a new credit card with Chase if you’ve opened five or more cards from any issuer in the prior 24 months. If all your stats look good, you have a fairly solid chance at approval.īut not so fast - you also need to take into account the Chase 5/24 rule. Your income and debt-to-income ratio will also be considered alongside your credit score for the Chase Sapphire Preferred. You may also be able to increase your chances of being approved if you have low outstanding balances on your other Chase cards. For example, you may have a greater chance of being approved for the Sapphire Preferred if you already have a relationship with Chase, such as a deposit account or a home mortgage. If your score is 740 or higher, that’s even better.Ĭhase, like most lenders, will typically take into account other factors beyond your credit score. Therefore, you almost certainly need a credit score of 670 to meet the Chase Sapphire Preferred’s minimum credit score requirements. Meanwhile, those who have credit scores in the good or excellent range will have a much greater chance of being approved.Īccording to FICO, one of the leading producers of credit scores, a good FICO credit score is 670 to 739, while a very good score is 740 or above. The Chase Sapphire Preferred is a premium travel rewards card, and, as such, you can expect an instant denial if you have a credit score that’s considered fair or bad. What credit score is needed for the Chase Sapphire Preferred? That said, it’s important to know the credit score needed for the Chase Sapphire Preferred prior to applying - as well as additional rules that might come into play - to ensure you’ll be approved. With all these rewards and benefits for a competitive annual fee, this card is definitely hard to beat. On top of its solid rewards rate, Chase Sapphire Preferred benefits include valuable travel coverage, such as trip cancellation and interruption insurance, an auto rental collision damage waiver, baggage delay insurance and trip delay reimbursement. 5X points on Lyft Rides (through March 2025).5X points Chase Ultimate Rewards travel.3X points on dining (including eligible delivery services), select streaming services and online grocery purchases (excluding Walmart, Target and wholesale clubs). In addition to the sign-up bonus, this card also doles out: And with a generous sign-up bonus of 60,000 points (after, of course, spending $4,000 in your first three months) for just a $95 annual fee, it’s a card that appeals to anyone who wants to earn valuable travel rewards. This Chase credit card lets users earn Ultimate Rewards points that can be transferred to airline and hotel partners or redeemed directly for travel reservations. The Chase Sapphire Preferred® Card is one of the most popular travel rewards credit cards on the market today, and it’s easy to see why.
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