Chase Sapphire Reserve. Okay so you may be researching the Chase Sapphire
Reserve card. In this video I'm gonna give you five tips so that you know how
to get to the chase sapphire reserve. But before we get started I have a quick message.
Welcome to another video! If you're new here my name is Duane with HowToBuildCreditTv.com
and on this channel we talk about everything you need to know
about credit, credit cards and how to make money using credit cards. So if this
sounds like something which you're interested be sure to subscribe to our
channel and click that notification bell so you don't miss a thing. Okay so since
the chase sapphire reserve credit card came on in 2016 there's been a lot of
buzz about this particular credit card from Chase. And rightfully so the Chase
Sapphire Reserve card has a lot of great benefits and more importantly the chase
Ultimate Rewards points are very valuable. So I'm gonna give you five tips
that will increase your chances of being approved for the Chase Sapphire Reserve
card. So be sure to watch the video all the way to the end because each tip is
super important. Okay so the first tip in order to get the Chase Sapphire Reserve
card is kind of the most important one. A lot of people want to know what credit
score do you need to have in order to apply for the Chase Sapphire Reserve
card. Well I would suggest having a credit score of at least 680. Now this is
a FICO credit score not some credit wise credit score or the Vantage score. I
guess that's probably the same thing. I'm talking about your FICO score it needs
to be at least 680. If you have 700 as a FICO score that's even better. So I
wanted to make sure that I addressed right off the top that your credit score
should be at least 680 or if the 700 or above that's actually better. So that is
the first tip if you're interested in getting the Chase Sapphire Reserve card
is to have a credit score of at least six eighty seven hundred or higher is
good. The second tip when it comes to getting approved for the Chase Sapphire
Reserve card is to make sure you check and see if you're pre-qualified for any
credit cards from Chase. Now there's a couple of ways that you can do this. You
can go to the chase website and kind of fill out their information to see if
you're pre-approved or you can also get the credit karma app the nerd wallet app.
These apps are really good about marketing to you and letting you know
based on your credit score you can be approved for this particular credit card.
So that's actually two ways that you can find out if you're pre-qualified or not
for the Chase Sapphire Reserve card. Once again that's going to there
website and checking the website to see if you're pre-qualified for any cards
from Chase just to kinda get your foot in the door and also you can use Credit
Karma or nerd wallet because once again those
apps and the website will let you know if you're pre-approved for certain
credit cards. And if you're interested in getting the Chase Sapphire reserve card
then you definitely want to make sure you use those two tools as an asset
because if it lets you know that you're pre-approved chances are you're going to
be able to get that credit card. So definitely want to make sure you see if
you're pre-approved to get the Chase Sapphire reserve card that is tip number
two. Okay so the third tip in order to get approved for the Chase Sapphire
reserve card is try applying for a starter credit card with a chase. Now a
starter credit card will safe would be something like the chase freedom
unlimited card or the Chase Freedom Card. These two cards are good starter cards
because with applying for that card and being approved for it you're kind of
getting your foot in the door with Chase. Now of course if you already have the
Chase Freedom Card or the chase freedom unlimited card then you're probably
going to be able to get the Chase Sapphire Reserve card. So the reason why
you want to see if you're approved or get a starter card with Chase is because
you just want to get your foot in the door you want to build a relationship
with them you want to build a good history with them you want them to know
that you're a customer that's gonna pay your bill on time every time. And so
that's what they're interested in and so if you can get a starter credit card
with chase chances are you'll be able to eventually get to a point where you'll
be approved for the Chase Sapphire Reserve card. So that is a third tip if
you're interested in getting the Chase Sapphire Reserve card. Okay so the fourth
tip before applying for the Chase Sapphire Reserve card is to make sure that you're
within the 5/24 rule. So if you're watching the video and you have
no idea what I'm talking about the five twenty four rule is basically a rule
that Chase has that if you have applied for or have five credit cards within the
last 24 months your application for any credit cards from Chase will
automatically be denied. So you definitely want to make sure that you're
within five twenty four in other words you don't want to have had five credit
cards that you've applied for and was approved for within the last 24 months.
Now this is super important so if your just kind of getting started with the
credit card game you definitely want to make sure that you get your Chase credit
cards out of the way as soon as possible. So that would be your chase freedom if
you're starting off with Chase and then eventually if you want to get the Chase
Sapphire Preferred you can do that as well and then the Chase Sapphire Reserve.
Now I'm not saying you need to go in that particular order but what I am
saying is Chase has a slew of credit cards that are insanely valuable and
once again the chase Ultimate Rewards points are really really high value. So
you definitely want to make sure that you get your chase cards upfront before
getting other credit cards. Me myself I got the Chase Freedom card back in April
2017 and I didn't know anything about the 5:24 rule. So what I ended up doing
was I got that card and then I got a whole bunch of other credit cards not
with chase. So I kind of screwed myself there where basically now I'm in the
American Express ecosystem which is cool there's nothing wrong with that; however
I can't get any more chase cards until I wait for 24 months. So every time I apply
for an application or a credit card that's not with Chase I'm kind of
prolonging the fact that you know now I'm gonna have to wait 24 months in
order to apply for a chase credit card. And so the 5:24 rule is something that's
really important. If you're in a situation right now where you haven't
had a lot of applications you definitely want to make sure that you apply for
your chase cards upfront before you start applying for other cards with like
Citibank, American Express so on and so forth. So you definitely want to make
sure that you do that so if you didn't know what 5:24 rule is now you know and
it's super crucial that you get your chase cards upfront before applying for
other credit cards unless you just don't want a lot of cards with Chase ok. And
Chase has a lot of cards that are good and once again the chase Ultimate
Rewards points are insanely valuable so that is the fourth tip in order to get
the Chase Sapphire Reserve card. Okay so the fifth tip in order to get approved
for the Chase Sapphire Reserve is to make sure that you make at least $40,000.
Now $40,000 is not a lot of money and I'm sure that somebody could probably
make less than $40,000 with a really high credit score or maybe they have a
great relationship with Chase and still get approved for the Chase Sapphire
Reserve card. However I want to make sure that you
have the best chances as possible of getting approved of this card. I would
hate for you to apply for the chase sapphire reserve card and get denied because
well you know you don't make enough money or the amount of money that
you make is very insignificant because you have a lot of other debt. And you may
even have a high credit score it's possible to get rejected for a credit
card even though you have a high credit score you may even make a lot of money
but you might have a lot of debt and sometimes these credit card companies
they look at that and they will deny your application based on just that. So I
would say as far as how much you need to make I would say you need to make at
least $40,000 before applying for the Chase Sapphire Reserve card. Otherwise
you know if you want to risk it and let's say you have a credit score of at
least 740 and you might make less than $40,000 you can probably apply for the
card but you definitely want to make sure that you exhaust all your
possibilities before, in other words you've got to make sure you probably
have you know like the chase freedom or the chase freedom unlimited or you have
seen that you're pre-qualified through credit karma, NerdWallet
or even the chase website that you're pre-qualified to get the Chase Sapphire
Reserve card. So that's it guys these five tips right there that I just gave
you are the five tips that hopefully you'll be able to kind of you know use
and kind of gauge if you're gonna get approved for the Chase Sapphire Reserve card
before applying. I hope that that helped if you have any questions please leave
them in the comments below. I'll do my best to answer as soon as I see it. Thank
you so much for watching the video. Please be sure to give it a thumbs up if
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notification bell so you don't miss a thing. Once again my name is Duane with
howtobuildcredit tv.com and I approve this video. I'll see you in the next
video. Until next time take care and be blessed. Peace!