Chase Preapproved & Prequalified Offers: The Difference, Avoiding 5/24 & Becoming a 2 Sapphire Reserve Household!

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Chase Preapproved & Prequalified Offers 5/24
Chase Tower Chicago. By JohnPickenPhoto

Chase Preapproved & Prequalified Offers 5/24

With the recent release of the Chase Sapphire Reserve card and the stricter implementation of the 5/24 rule, many people are looking for ways to get approved for Chase cards even if they have opened up 5 or more new accounts within the past 24 months. One of the known methods of getting around Chase’s 5/24 rule is via preapproved offers.

The Question

Several people this week have pointed out Chase’s Prequalified Offers site and have asked if that is the same thing as Preapproved Offers that can be found in a branch. Let’s take a look at that topic.

Prequalified Offers

Chase Preapproved & Prequalified Offers 5/24

Chase has a website that displays prequalified offers for you. To get your offers to show, you simply need to input your name, address and the last four digits of your social security number. It is not a credit application and is not a hard inquiry. In the past they have occasionally shown better offers on this page for some people, but that hasn’t been the case lately.

Preapproved Offers

If you go into a Chase branch and speak to a banker, they have the ability to pull up your customer profile in their system to see if you are preapproved for any offers. Generally this information can be pulled up quickly and if you get to know a banker, sometimes you can call to have them check.

Prequalified vs. Preapproved

Chase Preapproved & Prequalified Offers 5/24

While Chase obviously doesn’t share their internal policies and underwriting guidelines, prequalified and preapproved offers seem to be treated quite different. In other words, checking the online site may or may not show an offer you are approved for. Additionally, prequalified offers online do not seem to skirt the 5/24 rule. Based on anecdotal evidence from others, prequalified offers are treated the same as a normal online application when it comes to 5/24.

On the other hand, preapproved offers found only by a Chase banker in a branch seem to bypass 5/24 in most cases. This has especially been true based on data reported by readers when it comes to the Chase Sapphire Reserve card. Many people who were preapproved in a branch have had their applications approved despite being well over 5/24.

2 Separate Systems & 2 Reserve Household

Yesterday my wife called up our Chase banker (we got to know him through opening up bank accounts during the recent bonuses) and had him check if she was preapproved for the Sapphire Reserve. She is significantly over 5/24 with little hope of soon getting under, so this was her only shot. Thankfully he informed her that she was indeed preapproved and this morning she went into the branch, applied and was approved for the card with a huge credit limit. We are now a two Reserve household!

As a counter point, she searched the Chase website for prequalified offers before applying and found this:

Chase Preapproved and Chase Prequalified Offers 5/24

Takeaways

While there is nothing concrete with Chase or any bank for that matter, here are some personal takeaways about these offers based on my own experiences and what others have reported to me:

  • Prequalified offers do not help with 5/24 whereas Preapproved offers applied for in a branch seem to.
  • Just because you don’t have prequalified offers online doesn’t mean you won’t have preapproved offers in a branch. It never hurts to check if you are looking to apply for a specific card.
  • Sapphire Reserve specifically seems to be fairly easy to get if you are preapproved in a branch. (At least for now.) I have seen only a few data points of people who are preapproved being denied.
  • With Chase it generally pays to have a good customer relationship, so it might be beneficial to have bank accounts with them and/or get to know a banker so they can check offers for you periodically. In fact, some speculate that you need bank accounts with Chase to even become preapproved.

Do you have anything to add regarding Chase preapproved and Chase prequalified offers? Please share in the comments!


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44 COMMENTS

  1. If it helps, I don’t have any outside of CCs. Significantly over 5/24 myself.

    I did take down the banker’s number and hope to give her a call regularly to stay fresh in her mind. Only wished I asked about CPC. I dunno if it’s worthwhile to open a business or personal account at the bank.

    Congrats on the 2 cards! My bf is maybe a 1 or 0/24 at this time. He has one card and I was wondering what you would recommend as far as establishing credit with Chase. I’m priming him before the CSR bonus disappears! Should I start him with a Freedom or go straight for the CSP or CSR?

    • That sort of depends. If he has good long established credit then you could probably start wherever you want. The tough thing with CSR is that it does require a $10K limit and Chase is a bank that likes to know you. A good option could be to start with Freedom Unlimited (or Freedom if you prefer) and then go for CSR in 3 months or so. I think the combination of FU and CSR is a great one two punch for earnings and redemption value.

      • Thank you for the recommendation, that’s what I was thinking. I’ll prob have him go for a freedom using my referral link to get started. Better that than wait for the “best” Freedom offer. Hopefully in a 1-3mons or so, that CSR’s 100k will still be around then. By then maybe the referrals will have generated. 🙂

        It’s so weird, none of these unspoken rules were really in place when I first started.

  2. So let’s say my “pending” app gets rejected due to 5/24 and reconsideration is a dead end.

    Might I be able to go this route by opening say a checking account with Chase Bank and then repeat in your steps in requesting pre-approval checks, etc? Or did I screw myself by rolling the dice and already applying?

    If I were to open an account (assuming the above scenario), how soon should I pursue after being officially turned down for the CSR?

    Thanks.

    • Roll the die, just understand if you go in-branch… it’ll be a 2nd app. So hopefully you didn’t put another one through.

      I made the mistake of applying blind online knowing I’m over 5/24 and seeing similar DPs (thought I’d be a special snowflake). Doesn’t hurt to call a local branch, if anything you can set an appointment if they aren’t willing to look you up in their system. You can dangle the checking account if you are. I don’t have any other accounts set up and once she looked me up, it was go time! It was the longest 5secs after the banker submitted the app.

      • So you’re saying I should go right back in and submit another app right after being rejected?

        And I don’t even need to open an account to get a banker to do it for me?

        Sorry to be so dense. I’m going to have access to a brick-and-mortar Chase for like a 2-hour window tomorrow and then I’m back to being too far away to physically walk into a branch.

        Want to be sure I get it right. So should I call the reconsideration line and get the app either accepted or denied in order to wipe the slate clean before tomorrow? Or just leave all that hanging and walk in tomorrow to see what the banker can/will do?

        • It’s fine. No worries, learning experience.

          Yes, it’d be wise to call in, ask to see if you are pre-approved for any cards over the phone. Doesn’t hurt to ask, but they might insist you gotta come in. That’s fine, make an appointment with a banker (even the one who picked up) so you’re within your window of time. You’re basically dangling an app to this person. It’s up to that person to take it, lol.

          Go in and ask again, mine told me I was preapproved on the phone and banker was ready when I walked in. You can ask to open a checking account. That might help, but I don’t have one. The business one seems to have easy terms if you do.

          Don’t bother with reconsideration, if they ask why you got so many cards, you’re going be screwed. And that’s why you were rejected. You can’t wipe the slate clean, it’s done. lol

          I don’t know if my banker knew I put in an app earlier that day (can prob see it off their screen), but we acted as if it was a new app. I called the status line on the phone and it still says my 1st app (online) is pending, 2nd approved (the one in-branch)

    • I didn’t want to address that here since those are a bit different and nuanced. Some of those do work it seems but not all of them. It seems the ones with unique codes work sometimes and if it is generic it really doesn’t work. Based on what others have shared, being a Chase Private Client or preapproved in branch are better ways, but some people have definitely had success with unique offer codes received in mailers, especially with the Chase Ink Plus.

      • I kept getting targeted mailers (with a specific invitation code) for another Ink card for 6 months in a row. I didn’t bite for 5 months because I was well over 5/24. On the 6th month, I went for it – denied. Reconsideration line was no help either.

  3. Great info! Congrats of the wife’s approval. I’m about to leave work early to swing by my branch! Fingers crossed!

  4. Congratulations Shawn! I went into Chase branch today and neither me nor my husband had pre-approved offers. The banker said that we are both opt(ed)-out of offers and that’s probably why they don’t appear. However, she was unable to figure out how we could opt-in. I’ve sent a Secure Message to Chase to find out.

    • Login to your account. Top right click the little human symbol (head and shoulders icon). Click “More Settings…”. Under Personal Details on the left click Privacy Preferences.

    • Call 888-868-8618 to opt in. This is the number which my wife and I just used to opt-in for offers.

      One question I had was the Chase personal banker concept. There are no branches around here so I have never had one. I have a mortgage and 5 credit cards with them. How would I, if at all, get a banker? I also heard that when I travel to LAX next I should walk into a branch..?

  5. I and So, each of us have 6 personal Chase credit cards, we both also opened personal 、biz checking with Chase last month. I called the banker yesterday , he told us that either of us have any pre-approved offer but it does not mean we can’t try to apply .He suggested we go to branch to try it.
    Shaun , what do you think our chance are if we go to branch to try it without pre-approved or just let it go ? Thank you

    • To be honest, based on what others have reported, there is little chance of getting approved without a preapproval if you are over 5/24. I personally wouldn’t try it. If you don’t currently have Chase bank accounts it might be a good idea to open one and see if that helps to get you preapproved. There are some good bonuses out there right now too.

  6. Shawn this is one of many great posts. I have asked this question and now know the answer. Thanks for the info. I might drive the 100+ miles for this card.

  7. I have 22 hard pulls and 28 accounts opened on my credit report in last 24 months. I was pre-approved for Reserve and was approved instantly when I applied in branch. I have a personal and very recently opened business checking account plus a mortgage and 3 credit cards with chase.

  8. Im kicking myself. I probably should have gone in to see a banker but I applied online, was denied, then just did a product change from CSP to CSR. Even though im 9/24, i n thought I had a shot online since i charge around 25K a month to my Ink Plus. Lesson learned although I coukd have still been denied.

  9. We are headed to Seattle and I thought I could stop by a branch there. I get the same message that your wife got on the pre-approval screen and I checked and I am opted in. The boxes are unchecked which I believe is correct.

  10. I, too, live far away from any Chase branch. When we vacationed in Orlando in June, I opened both checking & savings accounts and established a fairly good relationship with the banker. He stated I was preapproved for (another) Ink Plus. I applied but got the 5/24 letter. With Chase I have checking, savings, Ink Bold, Ink Cash, Amazon and CSP. Recently closed their United card. I’m around 6 or 7/24. My hopes for approval are low.

    I emailed him on Monday, expressing my interest in the CSR & stating reasons why it makes sense for my business. He called today and checked my pre-approval status – no go. But – he said the product is still so new that he anticipates more preapprovals showing up in the coming weeks. Who knows? But he said he’ll call me in mid-September and check again. Here’s hoping.

  11. Shawn, Quick question: If I am a sole proprietorship and I am over 5/24 but want to open a business Ink/Ink Plus card using my SSN as the Tax ID do i have to worry about the 5/24 rule as well?

  12. I have had a Chase personal checking for years, biz checking just opened (bonus!), a recent helix, and I’ve never been pre approved for anything. I’ve asked several times to no avail. :'(

  13. Thanks for the info! Went to Chase at my lunch hour and checked. Banker told me I was pre-approved and 1O minutes later, I’m a sapphire reserve cardholder. I am more like 15/24. Appreciate all the articles Shawn!

  14. I applied in branch on Tuesday after the banker said I was pre-approved for the CSR. I’m at 8/24 and received the “pending 7-10 days” response. I called recon the next day but they told me I was denied due to too many accounts opened within last 24 months. But when I call the automated status line it still says pending. Is there any hope left??

    • Probably not, but you can certainly try to call back. For my United 5/24 denial, the automated system said pending long after I was denied. I received a letter of denial mailed a few days before and the system was still saying pending.

  15. […] As far as I can tell, the two known ways for avoiding 5/24 (in-branch preapprovals and Chase Private Client) are still working, although time will tell on that. Of course the in-branch application may not have this language so that isn’t a huge surprise. For more on avoiding 5/24 with the Sapphire Reserve and other cards, see: Chase Preapproved & Prequalified Offers: The Difference, Avoiding 5/24 & Becoming a 2 Sapphi… […]

  16. Revisiting this post as we gear up to try to get my husband the CSRes card. He has not been pre-approved (I was and got it in the summer). I couldn’t find Glenn’s “little human” that he described above “Top right click the little human symbol (head and shoulders icon). Click “More Settings…”. Under Personal Details on the left click Privacy Preferences.”

    Called the 888 number and we were told one can only opt in to pre-approved increases in your CL and getting the checks to encourage you to do cash advances but that one can only opt in to pre-approved CC offers if you move or change your name. The rep saw no indication my husband had ever opted out. We opted him in anyway in the event the rep was wrong.

    We’ll visit the branch on Mar 2 since new cards from his Feb 2015 AOR will drop off March 1. It will be interesting to see if he is pre-approved for anything then and if not, if he gets the card. He’ll be 4/24 with Transunion and Exquifax but not with Experian, as they have refused to delete the AU cards that put him over 5/24.

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