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In this video we look at data points showing that Chase is approving people for the Sapphire Preferred even though they are over 5/24.
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Hey credit Warriors welcome to the show Now the very popular Chase Sapphire Preferred Card just came out with a Brand new 80 000 Point bonus for Spending four thousand dollars in the First three months that is worth at Least a thousand dollars in free travel If not more if you know how to use the Points correctly but Chase has this Unofficial rule called 524 I say Unofficial because no chase Banker I’ve Ever asked about it has ever admitted That it’s a thing but from data points The credit card Community has observed That if you have opened five or more Personal credit cards in the past 24 Months which is two years Chase Typically will not approve you for a new Chase credit card well about a year ago We got some data points that chase had Relaxed the 524 rule pertaining to their Co-branded credit cards people were Getting approved for cards such as the Southwest credit cards the Amazon Prime Rewards Visa or the United Airlines Co-branded credit cards even though they Had opened more than five credit cards In the past two years and now there is Evidence that the 524 rule has been Relaxed for the Chase Sapphire prefer Third which is not a co-branded credit Card but Chase’s own brand owning their Signature Ultimate Rewards points so Here are some data points from Reddit as
Many have suggested the current 80 000 Points online offer for the Chase Sapphire preferred is not susceptible to 524 then they list the eight cards that They have this would make me at 824 all Have obviously reported to my credit Profile as the last card opened was last August I was denied City premiere on 4 12 23 as well so I have a recent inquiry I received an instant online approval For ten thousand dollars that’s the Credit limit on the card I currently Have 14 now 15 open credit lines with 142 000 total credit on 130 000 annual Income I have only a Chase Amazon Prime With a 10K limit also raised from 8.62 Years ago as the only pre-existing Relationship now that’s pretty Interesting I think it’s probably also The relatively High income that helped I Guess anything over six figures should Be looked at pretty favorably by Chase And when he says not susceptible don’t Take that as absolute I’m guessing it Would be more like the 524 rule has been Relaxed but maybe not gone and here’s Another one and this was actually a Response to the first one wanted to add My DP data point just applied for the CSP Chase Sapphire preferred 80 000 Points offer and was approved after a Phone call to verify it was me that Applied it was at 8 24 before applying And he again lists his cards Transunion
And Equifax Frozen experience 705 annual Income 125 000 interestingly these two People’s income was almost exactly the Same okay 125 and 130 000. I’d like to See data points from someone with more Of an average income around 50 or 60 000 Applying and see if they get approved Then there are also a few other people Who get approved but don’t share as many Details although they are over 524. I Love how this guy says he was hoping the Whole Reddit thread isn’t some April Fool’s joke it’s already almost May dude Come on and some of these people are Getting approved after calling the Reconsideration line in case you’re Wanting the reconsideration number for Chase is 1-88-270-2127 for personal cards and That is open 8 AM to 10 pm Monday to Friday and then eight to eight on Saturday and Sunday it’s always good to Phone the consideration line after a Denial for a second chance you could say Something like hey could you lower my Credit limit on one of my other cards And allocate that credit to this card That can sometimes work definitely don’t Say though hey I heard the 524 rule was Relaxed can I get the card now okay just Don’t mention 524 right just say Something like hey you know I was Wondering if it would be possible to Approve it or you could take a look at
My file again or say the thing about Reallocating credit if you have existing Cards with them that can sometimes work I also like doctor of credit’s Assessment of this is pretty funny Whenever these reports have Arisen in The past it usually ended up just being Bad math EG counting business cards or Counting the half month but this time There appears to be a few credible Reports on post 524 approvals so yeah a Few credible reports but the only way Sure is to try it for yourself in the Links below I will paste a full review Of The Chase Sapphire preferred on our Partner website Bankrate you can check Out all the pros and cons of the card There and if you are interested in this Offer just do be aware that it is a Limited time offer so if you want it to Do a get it soon and also let me know if You get approved for the card especially If you’re over 524 in the comments below We can get some of our own data points Going thanks for watching guys please Subscribe to you we’ll see you next time Bye