Questions and Answers

Just went into a Chase branch to do Reserve application. They told me they’ve stopped doing instant approvals due to high volume of applications on the card. I’ll either get letter with the new card or letter of denial in the mail in 5-7 business days. He even tried calling to find out but no answer right away. I have other chase cards, under 5/24, excellent credit score. Anyone else have that been the case recently?

FYI: the last day for the 100k bonus points is this Saturday in branch.

I applied in branch on Tues Feb 28th and was instantly approved. I just slipped under 5/24 in January, which is why I didnt even try to apply for the card when it first came out. The card showed up in my online account immediately and the annual fee showed up the next day. I received the actual card in the mail that Friday.

Haven’t heard of this but not surprising either. I bet there is a crush of people trying to get in under the wire.

He says he’s done like a dozen of the applications today alone. And that’s just him & not taking any of his colleagues into account. So maybe they are very busy.

[QUOTE=”David W, post: 28180, member: 29″]I applied in branch on Tues Feb 28th and was instantly approved. I just slipped under 5/24 in January, which is why I didnt even try to apply for the card when it first came out. The card showed up in my online account immediately and the annual fee showed up the next day. I received the actual card in the mail that Friday.[/QUOTE]
Do you bank with them too? Like have savings or checking accounts? I only have credit cards with them….

I’ve only had credit cards with them. At one point, I did have a student loan but that’s closed out. After i was approved for the Reserve, I also decided to open a checking about with them, since they were giving away $300 if you linked it for direct deposit.

They often have nice promos for checking and savings accounts. Too bad they have zero footprint in MA.

[QUOTE=”David W, post: 28187, member: 29″]I’ve only had credit cards with them. At one point, I did have a student loan but that’s closed out. After i was approved for the Reserve, I also decided to open a checking about with them, since they were giving away $300 if you linked it for direct deposit.[/QUOTE]
Wow any monthly fees or minimum balance to keep?

[USER=1977]@MMM[/USER], here are the details: [URL]http://www.doctorofcredit.com/last-chance-chase-300-checking-200-savings-bonuses/[/URL]

Looks like it expired a couple of days ago unfortunately but keep your eyes open, they do come around on a fairly regular basis.

[QUOTE=”Gaurav, post: 28193, member: 79″][USER=1977]@MMM[/USER], here are the details: [URL]http://www.doctorofcredit.com/last-chance-chase-300-checking-200-savings-bonuses/[/URL]

Looks like it expired a couple of days ago unfortunately but keep your eyes open, they do come around on a fairly regular basis.[/QUOTE]
Thanks gaurav!

$1500 minimum OR recurring direct deposits, which is fine

Has anyone heard if they waive the 5/24 if your like a month from dropping below? I saw one guy post that he got the card in January, but was under the 5/24 til February. Said Chase told him it was close enough. I ask because im under 5/24 in April, but would love to get the 100,000 offer.

No way to know without trying unfortunately. Have you tried going in to a branch to see if you are pre-qualified?

Is there a specific phone number I can call to see if I’m being approved? Or should I send a secured email within my online chase account to ask? I’m trying to see if i can find out before getting the mail.

I’d just call chase directly and have them transfer you:

[URL=’https://www.reddit.com/r/churning/wiki/chase_sapphire_reserve’]Chase main line: (800) 432 3117
CSR account line: (800) 436 7970 (this is the number on the back of the card)[/URL]

I just walked into my local Chase branch today (3/10) and got instantly approved for the CSR. Took 15 minutes. The guy there *hasn’t* been inundated with applications, and remarked that he didn’t know why since the bonus was so good. Might be a frustrated branch employee…

Glad I called Chase today. My application was just sitting there pending. The agent said she could approve it right away if I moved some credit around or I could wait for the full process if I didn’t. I should get it in the mail soon! Yay!

Now that I’ve been approved & not worried about potentially not being approved (I.e. thinking more calmly;)) I’ve been wondering why I was asked to move credit around instead of offering me more credit? Should I have moved credit around or waited? The agent didn’t say I wouldn’t be approved if I said no & I didn’t think to ask. They pulled a credit check after anyways so I’m wondering if I should’ve said no to moving credit around. Never been asked to do that before. Albeit once I get the signup bonus for the Reserve, I’ll be looking to downgrade my Preferred so I can move the majority of that credit to Reserve. Or should I call chase once my Reserve arrives to ask for more credit? I don’t want two credit pulls in short time though.

It really depends on how much credit Chase is willing to extend you overall. You may be close to the limit that they want to extend you and that’s why you were asked. Should you have said no, it might have meant your credit line on the Reserve would just be lower.

This happened to me but when I opened a Citi card. They told me that I could move credit around so that the limit on the card is higher or just go with a lower limit on the card.

Usually banks will assign a total allowable credit for customers based on credit history, income etc. Visa infinite cards (like the Chase Reserve) also have a minimum credit line of $10,000. So there could have been a few reasons why you would need to have moved credit around. You could call and move credit between cards if needed but I’d only do that if you need the credit. CSR lines have been fairly generous so if there is no reason to do it, I’d leave it be. When you are ready to close your CSP, just have them do a the CL transfer at that time.

[QUOTE=”David W, post: 28379, member: 29″]It really depends on how much credit Chase is willing to extend you overall. You may be close to the limit that they want to extend you and that’s why you were asked. Should you have said no, it might have meant your credit line on the Reserve would just be lower.

This happened to me but when I opened a Citi card. They told me that I could move credit around so that the limit on the card is higher or just go with a lower limit on the card.[/QUOTE]

So by saying ok to moving credit, does that mean they didn’t give me any new credit at all for the Reserve? I’m just relying on the credit I moved over, which isn’t that much? If so, that’s not good for my utilization ratio & seems so little for a premium card.

Well, how much credit did you move over and what was the CL for your CSR?

[QUOTE=”Gaurav, post: 28383, member: 79″]Well, how much credit did you move over and what was the CL for your CSR?[/QUOTE]

Just moved $10k. That’s the part I’m not sure about upon reflection. If agent meant that’s my total now or if there’s more from them on top of that. Just meeting minimum spend alone will put me around 40% utilization for that card if that’s the case.

If you had to move 10k and your CSR line is only 10k that might mean you were at your limit with Chase in terns of overall credit limits.

Also, It’s only 40% utilization on the card if you’re charging it all at once and not paying it off when the bill is due. Keep in mind that credit utilization for your credit score is the ratio of balance against the total of ALL your lines of credit.

Agreed, I wouldn’t worry about it too much as long as you are paying your bills on time. As [USER=29]@David W[/USER] says you won’t charge it all at one time normally and it’s across all your cards. Even if you did charge it all at once, it’ll bounce back as soon as you pay it off.