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My Experience applying for the Chase Sapphire Reserve
I headed to my nearest Chase bank today to apply for the Chase Sapphire Reserve. Not only did I go in person, but I brought along a good friend that is a Private Client. I’ve had a good relationship with this particular branch for a few years now, and have brought in several clients to sign up as Private Clients. I, myself, however am not a private client of Chase and do all of my banking with a couple small regional banks.
Private Clients get approved
Without much issue at all, my friend got approved and defffffffinitely had more than 5/24. This backs up the anecdotal evidence that various sources around the net have purported, specifically FrequentMiler, that there are different rules for Private Clients. It wasn’t an immediate approval and it required a call into the lending department, but the application was approved.
My strategy: power through private client proximity.
I thought perhaps I would wield power through proximity: apply with a Private Client and have a banker call lending on both our behalf. For transparency’s sake, I already have 4 personal Chase cards and am over 5/24 as well. Our banker didn’t seem to think it would be a problem and I even intimated that I wanted to close my Sapphire Preferred and move the line over to the new Reserve. I’m not waaaaaaay over the 5/24 and have been a long term customer of Chase…I opened my first Chase card about 15 years ago and I also maintain an 800+ credit score.
5/24 is in effect
After a long time waiting, the rep came back on the line. She was super nice and said she had tried every way around it, but specifically said that I was being denied because I had too many opened accounts in the last 24 months. I asked if I could know how many is “too many” and she quoted some banking law that she couldn’t break and therefore couldn’t tell me. uh huh.
so what now?
The banker is really cool. He felt really bad that he couldn’t get me the card, highlighted my credit score and income, and said it didn’t make much sense to him and that he was going to try another route. He knows a couple people in the “back office” and is going to try that avenue to see if he can wiggle my credit lines around and get me approved. So we shall see. NOT feeling good about though, but it was a good experiment.
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