The Chase Sapphire Reserve is a premium travel rewards card. It offers benefits like a $300 annual credit for travel expenses and priority access to airport lounges.
If you’re interested in applying for this card, it’s important to understand its approval requirements. In particular, you should consider your credit score and how many new cards you’ve opened in the past 24 months.
Credit Score Requirements
The Chase Sapphire Reserve is a popular card for many travelers thanks to its bonus Ultimate Rewards points on travel and dining spending. It also comes with some unique extra benefits such as airport lounge access and annual travel credits.
But like any credit card, the Chase Sapphire Reserve has its eligibility requirements. Typically, applicants will need excellent credit to be approved for the card. The card is also subject to the 5/24 rule, meaning if you’ve opened five or more new cards (including credit cards and authorized users) within the past 24 months, your application will probably be denied.
Other factors that can affect your approval odds include your income, credit utilization ratio and whether you’re a current Chase customer. Having higher income can improve your chances because it shows that you’re able to manage debt responsibly. A lower credit utilization ratio can also help because it signals that you’re not maxing out your cards.
Income Requirements
The Chase Sapphire Reserve is a Visa Infinite card, and carries with it a suite of awesome perks for cardholders. From the $300 annual travel credit to the $100 TSA PreCheck or Global Entry reimbursement per year, this is a great card for those who value luxury travel benefits.
Having a robust income can help you get approved for this card, as can an excellent credit score. However, the card comes with a hefty annual fee of $550.
If you’re already carrying a lot of debt across your existing Chase credit cards, it may make sense to shift those lines before applying for this one. This can increase your approval odds, as it will lower the total amount of new credit you’re requesting on a single application. It can also help demonstrate to the bank you have an ongoing relationship with them, which could bolster your case for approval. If you’re rejected for the card, call Chase’s reconsideration line. Many applicants have reported their rejections being reversed on the phone.
Credit History Requirements
For the Chase Sapphire Reserve, the lender looks at your credit history and account mix. This includes mortgages, auto loans and credit cards. Credit mix makes up 10% of your score, and a longer history helps you get approved. However, if you have a large number of new accounts, your application could be denied.
If you’re in the market for a premium travel card, make sure your credit is top-notch and that you’re under the 5/24 rule. You can find out if you’re under the rule by looking at the “My Offers” section of your online profile or calling the Chase reconsideration line.
The Sapphire Reserve is a high-end rewards credit card that comes with a $550 annual fee. But the one-time bonus and annual perks like travel credits and airport lounge access can offset this cost. If you don’t meet the minimum requirements for this card, there are other great options on the market.
Annual Fee
With a $300 annual travel credit, premium travel benefits and top-tier rewards, the Chase Sapphire Reserve is a popular choice among frequent travelers. The card’s 60,000-point signup bonus is worth $900 in travel and the card comes with a host of other valuable perks, including airport lounge access and a waiver on the application fee for TSA PreCheck or Global Entry. In addition, the card earns Ultimate Rewards points that can be redeemed for travel, merchandise and cash back. You can also transfer them to airline and hotel partners at a 1:1 rate.
That said, the card’s $550 annual fee can be difficult to justify if you don’t maximize the card’s offers. Plus, applicants with existing Chase credit lines are subject to an internal metric known as 5/24, which can cause applications to be denied even when their scores are good. In these cases, a phone call to the Chase reconsideration line may be enough to get an approved decision.
