Rejected for Chase Sapphire Preferred Credit Card Application

If you've been rejected for the Chase Sapphire Preferred credit card application, don't worry, it's not the end of the world.

The most common reasons for rejection include a low credit score, which can be as low as 660, and high credit utilization, which is 30% or higher.

You can try reapplying after 6-12 months to see if your credit score has improved, but be aware that you may be considered a higher credit risk if you've applied for multiple credit cards recently.

Chase considers multiple applications from the same person as a red flag, so it's best to space out your applications and only apply for credit cards when you really need them.

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If your Chase Sapphire Preferred application was denied, there are several reasons why this might have happened. Your credit score is too low, which means it doesn't meet the minimum requirement for the card.

Not having enough credit history can also lead to denial. You need at least 12 months of your own credit history on existing credit cards to be approved.

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A low income or unstable income can be a problem, especially if you have high debt relative to your income. This can make it difficult for Chase to approve your application.

You might also be denied if you have too many recent credit inquiries or late payments on your credit report. Using too much available credit can also be a red flag.

Other reasons for denial include errors on your credit report, unresolved bankruptcy, or errors on your application. If you have a credit freeze, credit lock, or fraud alert on your credit report, this can also cause issues.

Here are some potential reasons for denial in a concise list:

If you've been rejected for the Chase Sapphire Preferred due to excessive balances on other cards, it's essential to understand the reasoning behind this decision.

Chase may decline your application as a concern that you're overextending yourself and swiping too much money on your credit cards.

High balances on other cards can indicate to Chase that you're struggling to manage your finances, which may lead to debt repayment issues.

If the balances are only a one-time thing due to an upcoming event like a wedding or vacation, be sure to mention this to the underwriter during the reconsideration process.

To get your Chase Sapphire Preferred application reconsidered, you can call the reconsideration line at 1 (888) 270-2127.

Be prepared to make a strong argument for why you should be approved, and have a plan in place to address common questions they might ask.

If you're denied due to having too much credit with Chase already, you can offer to move some of your existing credit limit onto the Chase Sapphire Preferred, or cancel cards with them as a last resort.

Chase Sapphire Preferred has a minimum limit of $5,000, so make sure you're willing to take on that amount of credit.

When calling the reconsideration line, don't mention the sign-up bonus as your reason for wanting the card. Instead, highlight a feature of the CSP that your current card doesn't have, such as no foreign currency fee or flexible points earnings.

Here are some examples of features you can mention:

If you're still denied after calling the reconsideration line, you can try hanging up and calling back with a different representative, but this usually won't make a difference.

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If you've been denied for the Chase Sapphire Preferred, don't worry, it's not the end of the world. You can call the Chase reconsideration line at 888-245-0625 to request a second review of your application.

Before you call, think about why you want the Chase Sapphire Preferred and be prepared to make a strong case for why you should be approved. You'll typically only have a shot at overturning a denial if you can prove that your situation has changed or that you have a good reason for needing the card.

If the customer service representative says you have too much credit with Chase already, you can offer to move some of your existing credit limit onto the Chase Sapphire Preferred, which has a minimum limit of $5,000. Alternatively, you can offer to cancel cards with Chase, but be aware that this will decrease your Average Age of Accounts when they fall off your credit report.

To avoid getting denied again, make sure to state one of the features of the Chase Sapphire Preferred that your current card doesn't have, such as no foreign currency fee, flexible points earned, or bonus points on dining and travel. Don't mention the sign-up bonus, as this won't help your case.

If you're still denied after calling the reconsideration line, you can try calling back with a different representative, but this usually won't make a difference. When you receive your declined mail in the post, Chase is required to give you the credit score they used along with the reason for the denial.

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