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The Chase Sapphire Preferred is one of the most popular credit cards on the market today. This card may not have all the bells and whistles of some of the other Chase cards, but it does offer some decent perks.
Since this is considered an everyday credit card, just what credit score is needed for the Chase Sapphire Preferred? In this article, we’ll delve into this topic in greater detail.
What Credit Score is Required to Get the Chase Sapphire Preferred Card?
While credit score requirements do not appear to be set in stone, generally, you'll need to have a credit score of at least 690 in order to qualify for the Chase Sapphire Preferred® Card.
The Chase Sapphire Preferred is considered an everyday credit card, which means that you don’t need to have excellent credit to qualify. The reason that this credit score requirement is not as high as the premium Chase cards is that the card doesn’t offer the same level of benefits.
Unlike the Sapphire Reserve, which is Chase’s attempt to compete with the segment-leading Platinum card from American Express, the Preferred is more basic. The card still has a tiered reward structure but the lower annual fee and limited perks means that it carries less risk for Chase.
This means that you should be able to qualify for this card with a good to excellent score.
One Credit Karma member reports automatic approval with a FICO score of 690, with a credit utilization ratio of 13%. While another was approved with a 628 FICO score with a great on time payment history. The applicant received a $10,800 credit limit despite having a 50% plus credit utilization ratio and multiple recent inquiries.
Chase Sapphire Preferred® Card
Reward details
Current Offer
Credit Rating
Annual Fee
Additional Requirements to Get a Chase Sapphire Preferred Card
As we touched on above, credit score is not the only requirement for Chase to get approval for the Sapphire Preferred. There are other requirements and considerations, such as:
- The Number of Open Cards: If you have a lot of open credit card accounts, it could be an indicator that you are not great at handling money or that you sign up for lots of cards just to get a bonus. Chase typically looks for loyal customers who will commit to being part of the Sapphire family.
- Age of Accounts: The Sapphire Preferred line is a card designed for experienced credit card users, so Chase will look at the average age of your credit accounts on your credit history. If you have quite new credit card accounts, Chase may struggle to discern if you can handle the credit responsibly.
- Your Total Credit: Chase Sapphire Preferred may not have the high minimum credit limits of its sibling card, the Reserve, but Chase still wants to know that you’re not overcommitting yourself. This means Chase will look at the amount of your total credit.
- Your Income: Although the Chase Sapphire Preferred is an everyday card Chase will need to determine that you have sufficient income to support the new card. Even if your credit score is on the low side, you may still get approved if you have a high income.
- Credit Utilization: This is the balance that you’re carrying across all your credit accounts as a percentage of your total limit. Ideally, it should be below 30%, but if your other factors are good, Chase may approve you with a higher credit utilization.
- Existing Chase Relationship: Chase looks favorably with applicants who have an existing or prior relationship with them. If you’re a Chase banking customer or already have a Chase credit card, your approval chances are higher.
- The 5/24 Rule: Chase has a rule which is the primary reason why those with excellent credit may still be rejected. The 5/24 rule refers to opening five or more credit card accounts in the past 24 months. So, if you have had five new cards in the last 24 months, regardless of your credit history, Chase will auto decline your application.
Which Documents Should I Provide When Applying?
If you are ready to apply for the Chase Sapphire Preferred, you will need to gather some documentation to support your application. These include:
- Proof of Income: This could take the form of pay stubs, W2s or bank statements
- Valid ID: All banks are required to verify the identity of applicants, so you’ll need a valid government ID such as a driver’s license or passport.
- Bank Details: You may also need to provide your checking account information to process any payments or fees.
- Co-signer Agreement: If applicable, you will need to have a co-signer agreement ready for Chase.
In addition to this documentation, you will need to provide your Social Security Number and authorization for Chase to perform a credit score inquiry.
Chase Sapphire Reserve vs Preferred: Which Requires Higher Score?
While the two cards have similar names, the Chase Sapphire Reserve is considered a luxury credit card, but the Sapphire Preferred is a standard Chase offering. This is reflected in both the benefits and credit score requirements.
Although you need an excellent score to be likely to qualify for the Sapphire Reserve, a good to excellent score should be sufficient for the Chase Sapphire Preferred. The reason for this relates to card characteristics.
For example, while Sapphire Preferred has a $95 annual fee, the annual fee for the Sapphire Reserve is $550. This suggests not only a more modest benefits package, but also a lower spending expectation. This means that Chase may approve your application for a Sapphire Preferred even if you don’t have a large income.
Additionally, the Sapphire Reserve has a more modest benefits package compared to the preferred card. You’ll only have access to some insurance coverage and a small amount of statement credit, which presents less risk to Chase if you don’t manage your account flawlessly.
On the other hand, the Sapphire Reserve offers lounge access, statement credit and a number of other perks, so Chase needs to be confident that you will be able to handle your account responsibly.
Chase Sapphire Preferred vs Capitl One Venture: Which Requires Higher Score?
The Capital One Venture is another more modest card similar to the Sapphire Preferred. Like the Sapphire Preferred, it has a modest benefits package and a low annual fee.
This is reflected in the credit score requirements. You can qualify for a Capital One Venture with a good to excellent credit score, which is also similar to the Sapphire Preferred.
|
|
| |
|---|---|---|---|
Chase Sapphire Preferred® Card | Chase Sapphire Reserve® | Capital One Venture | |
Annual Fee | $95
| $550 | $95 |
Rewards | 2X – 5X
5x total points on travel purchased through Chase Travel, 3x points on dining, online grocery purchases and select streaming services. 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases.
| 1X – 10X
5X total points on air travel and 10X total points on hotels, car rentals and dining when you purchase through Chase Ultimate Rewards®, immediately after earning your $300 annual travel credit. Also, earn 3x points on dining at restaurants and travel (after meeting the $300 travel credit), then 1x points per dollar spent on all other purchases. | 2X – 5X
2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
|
Welcome bonus | 60,000 points
60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
| 60,000 points
60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
| 75,000 miles
75,000 miles once they spend $4,000 on purchases within 3 months from account opening
|
Minimum Score | 690 | 720 | 680 |
Which Chase Cards Can You Get with a 650 Credit Score?
Fortunately, not all Chase credit cards require excellent credit and with a 650 or good credit score, you may have success with a number of options including:
- Chase Freedom Flex: This is a cash-back rewards card that also offers special introductory rates. Although it may be possible to qualify with a lower score, you have a good chance with a 650.
- Chase Freedom Unlimited: This cash-back card has no annual fee and while the recommended minimum score is approximately 680, there are reports of consumers qualifying with a score as low as 635.
- Chase Slate Edge: This is a minimal card with few perks and no card rewards. However, this does mean that it offers great approval rates. With a 650, you should have no problems qualifying for the Slate Edge.
- Disney Visa. If you enjoy Disney Vacations, the Disney Visa is a great card choice. The card has no annual fee, and you can score Disney Reward Dollars on all your purchases. Despite this great reward option, you can qualify with a score of 570 or higher.
- Southwest Rapid Rewards Plus: If you’re brand loyal to Southwest, this co-branded card offers some great perks. Although it doesn’t offer all the bells and whistles of the other Chase Southwest cards, the minimum credit score requirement is only 600.
Card | Rewards | Bonus | Annual Fee | |
|---|---|---|---|---|
| Freedom Flex℠ Card | 1-5%
| $200
| $0 |
| Chase Freedom Unlimited® | 1.5% – 5%
5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases
| $200
Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
| $0 |
 | Chase Slate Edge℠/b> | None | None | $0 |
 | Disney® Visa® Card | 1%
1% in Disney Rewards Dollars on all eligible purchases
| $250
$250 Statement Credit after you spend $500 on purchases in the first 3 months from account opening
|
$0 |
| Southwest Rapid Rewards® Plus | 1x – 2x
2X points on Southwest purchases, Southwesthotel and car rental partners, local transit and commuting (including ride-shares),internet, cable, phone and select streaming services, and 1X points on all other purchases
| 50,000 points
50,000 points after you spend $1,000 on purchases in the first 3 months from account opening
| $69 |
Things to Know Before Getting the Chase Sapphire Preferred
While the credit requirements for the Chase Sapphire Preferred are not as rigorous as the Chase Sapphire Reserve or other premium cards, there are still some things that you need to know before you apply. These include:
- Your Credit Score: The first thing that you need to check is your latest credit score. It is recommended to have a minimum score of 670, but it may be possible to qualify with a slightly lower score if you have a high income, low credit utilization and minimal hard inquiries.
- Your 5/24 Count: Regardless of whether you’ve opened Chase card accounts or credit cards with other banks, they will all count towards your 5/24. So, look back and see how many credit card accounts you’ve opened in the last 24 months. If it is five or more, your chances of approval are very slim.
- The Annual Fee: While the Sapphire Preferred has a modest $95 annual fee, you still need to consider whether it is worth it for you. Do you anticipate getting at least $95 of value in rewards and perks during the year to cover this fee? If not, look for a card with no annual fee.
- Welcome Bonus Eligibility: Chase limits the eligibility for welcome bonuses on its Sapphire cards. If you’ve received a welcome bonus for another Sapphire card in the last 48 months, you won’t be eligible to get a bonus this time even if you meet the promotion criteria.
- Your Spending Habits: The Sapphire Preferred has a tiered reward structure weighted towards travel and Lyft rides. There are also decent rewards for dining, online grocery shopping and some streaming services. All other spending categories attract the base rewards rate. So, if you don’t tend to spend most of your money in these featured categories, this may not be the best card for you.
- How Much You Travel: Finally, remember that this card is geared towards travel, with higher travel rewards and a number of travel perks. If you don’t tend to travel regularly, you may not be able to leverage the full benefits of this card.
Why Was My Application Rejected and What Can I Do?
There could be any number of reasons why your Sapphire Preferred application was rejected, but there are a few things you can do.
- Speak to a Representative: Chase has a reconsideration line and if you think that you meet the card criteria, you can discuss it with a representative. Be polite and explain your situation, offering any more information to possibly reconsider your application.
Explain why you are looking at this card and don’t only discuss the sign up bonus. Instead, discuss how you would use it, such as the Ultimate Rewards program and Chase’s travel partners. You could also ask to have some of your credit limit moved over from other Chase cards.
- Work on Your Credit: If you suspected that your credit wasn’t quite enough to qualify, take this as an opportunity to build on your credit. Try to pay down account balances, make payments on time or ask for a credit limit increase on other cards to increase your credit utilization.
- Don’t Open Any New Accounts: Avoid opening any new credit card accounts, which will count against you according to the 5/24 rule.
- Consider a Chase Bank Account: Chase does value existing customer relationships, so consider opening a Chase bank account. This could support a future application and increase your approval chances.
FAQs
Does Chase Sapphire Preferred offer pre approval?
Yes, Chase does offer pre-approval. So, you can check if you are likely to qualify without incurring a hard credit pull.
Does Chase provide a free credit score?
Chase offers Chase Credit Journey, which allows you to check your VantageScore for free. There are also alerts for any changes to your credit report.
How do Chase check credit scores?
Chase Credit Journey uses Vantage credit scores, but it uses credit report information from Experian.
How do you check your credit score on the Chase app?
When you log into the Chase app, you should see an icon for Credit Journey. Tap on this and enroll in the program. From this point, you can check your score.
Does applying for a Chase Sapphire Preferred Card hurt my score?
If you apply for pre-approval, no, as Chase will only use a soft credit pull. However, if you proceed with the application, Chase will conduct a hard pull, which will knock a few points off your score.
However, unless you have poor credit, this should not have a detrimental impact on your overall credit.
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