![]() Some report that the average credit score for Sapphire Preferred approvals is about 740, which sounds about right. Credit score needed for the Chase Sapphire PreferredĪssuming you have a few years of account history (with any bank), I’d recommend waiting until your credit score is close to 720 to apply for the Sapphire Preferred. There are a few tricks you can use to boost your credit score so that when you apply you’re in a little better shape when it comes to your credit score. If you have really fresh late payments (that just hit within the past few months), I would probably wait several months before I tried applying. This is especially true if your late payments were with Chase. If you have lates within the past year or two, you might get some push back because of those. Late paymentsĪnother thing to be aware of is how late payment can affect your approval odds. In that case, you’d definitely want to pay that credit card down first. If you have another Chase card that’s maxed out or that has a very large outstanding balance, that’s going to look very bad when you apply for another one of their credit cards. However, you need to also pay attention to the utilization on your specific credit cards. ![]() You want your overall utilization to at least be below 30% but I prefer to keep mine around 5%. So if you’re currently using $5,000 worth of credit and your overall credit limits is $10,000 then you would divide $5,000 by $10,000 to get 50%. You can figure out this number by dividing the amount of credit currently being used by your overall credit limit. Utilization is how much of your total credit limits you are currently using (or utilizing). Once you have the Freedom for around 6 months or so, you might be ready to try your odds with the Sapphire Preferred (depending on how your score looks). If you’ve got only a little bit of credit history (one year or more), then consider going with a card like the Chase Freedom, which is easier to get approved for than the Sapphire Preferred. If you have virtually no credit history (only a few months of history) you might want to look at some cards for fair credit scores that you can use to build up your score before applying for Chase cards. It’s free and will help you optimize your rewards and savings! Credit history Tip: Use WalletFlo for all your credit card needs. This means factoring in things like your credit account history, utilization, and payment history.Ĭredit scores can often be deceptive because you can have a “great score” in the 700s but with little to no credit history, you’ll likely struggle to get approved for the Chase Sapphire Preferred. Chase Sapphire Preferred approval timesĬredit factors needed for the Chase Sapphire Preferredīefore we talk about credit scores, let’s talk about how different credit factors affect your Chase Sapphire Preferred approval odds.Income needed for the Chase Sapphire Preferred.What credit bureau will Chase pull from?.Credit score needed for the Chase Sapphire Preferred.Credit factors needed for the Chase Sapphire Preferred.
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