Questions and Answers

Hey,

So in july 2015 I applied for the Chase Sapphire Preferred card. At the time I had excellent credit and was fairly confident of getting approved. After submitting the application I got a decision “pending further review”. I called the reconsideration line after a couple of hours and the representative told me that my application was declined due to “too many accounts opened in the past 24 months”. Given that I have a strong credit score and the Chase Freedom as well as the BA credit cards I offered to shift credit lines from them both which i was shot down. I resorted to closing one of the accounts and was denied that possibility too. Basically there was no way for me to be reconsidered. I gave up and ended up applying for the Premier Rewards Gold card which I was accepted instantly.

As of 5 days ago, I checked on the Chase website and after putting in my credentials I have been “prequalified” for the Chase Sapphire Preferred and the Chase Slate cards. My credit score has improved slightly since July but it is not significantly different. As of the day I checked my pre qualification, I still had 5 accounts opened in the past 24 months, which means I would not fulfill that criteria. However in January the number of accounts would drop to 4 in the past 24 months. The number of inquiries would be 5 in January as against 8 right now. My question is, should I apply for the card in January given that I am prequalified for the card? Im confused as to how the pre qualification works when I may not necessarily fulfill their new criteria of number of accounts opened in the past 24 months. If I should not apply in January then when should I apply for the card because I am really keen on getting the card.

Regards,

Preston

Hey,

So in july 2015 I applied for the Chase Sapphire Preferred card. At the time I had excellent credit and was fairly confident of getting approved. After submitting the application I got a decision “pending further review”. I called the reconsideration line after a couple of hours and the representative told me that my application was declined due to “too many accounts opened in the past 24 months”. Given that I have a strong credit score and the Chase Freedom as well as the BA credit cards I offered to shift credit lines from them both which i was shot down. I resorted to closing one of the accounts and was denied that possibility too. Basically there was no way for me to be reconsidered. I gave up and ended up applying for the Premier Rewards Gold card which I was accepted instantly.

As of 5 days ago, I checked on the Chase website and after putting in my credentials I have been “prequalified” for the Chase Sapphire Preferred and the Chase Slate cards. My credit score has improved slightly since July but it is not significantly different. As of the day I checked my pre qualification, I still had 5 accounts opened in the past 24 months, which means I would not fulfill that criteria. However in January the number of accounts would drop to 4 in the past 24 months. The number of inquiries would be 5 in January as against 8 right now. My question is, should I apply for the card in January given that I am prequalified for the card? Im confused as to how the pre qualification works when I may not necessarily fulfill their new criteria of number of accounts opened in the past 24 months. If I should not apply in January then when should I apply for the card because I am really keen on getting the card.

Regards,

Preston

Hey,

So in july 2015 I applied for the Chase Sapphire Preferred card. At the time I had excellent credit and was fairly confident of getting approved. After submitting the application I got a decision “pending further review”. I called the reconsideration line after a couple of hours and the representative told me that my application was declined due to “too many accounts opened in the past 24 months”. Given that I have a strong credit score and the Chase Freedom as well as the BA credit cards I offered to shift credit lines from them both which i was shot down. I resorted to closing one of the accounts and was denied that possibility too. Basically there was no way for me to be reconsidered. I gave up and ended up applying for the Premier Rewards Gold card which I was accepted instantly.

As of 5 days ago, I checked on the Chase website and after putting in my credentials I have been “prequalified” for the Chase Sapphire Preferred and the Chase Slate cards. My credit score has improved slightly since July but it is not significantly different. As of the day I checked my pre qualification, I still had 5 accounts opened in the past 24 months, which means I would not fulfill that criteria. However in January the number of accounts would drop to 4 in the past 24 months. The number of inquiries would be 5 in January as against 8 right now. My question is, should I apply for the card in January given that I am prequalified for the card? Im confused as to how the pre qualification works when I may not necessarily fulfill their new criteria of number of accounts opened in the past 24 months. If I should not apply in January then when should I apply for the card because I am really keen on getting the card.

Regards,

Preston

[USER=1248]@prestonkagiri[/USER] welcome. Based on the data I would wait until January to apply since you’d have a better chance of being approved and it’s only a couple of weeks away.