Posted by sirtheta on January 20, 2017
Credit Cards Chase Sapphire Reserve

Published on January 20th, 2017 | by sirtheta

111

Chase Removing Pre-Approvals for the Chase Sapphire Reserve, Allegedly Temporarily

For churners over 5/24, in-branch pre-approvals from Chase are the one hope for obtaining the Chase Sapphire Reserve before the signup bonus decreases from 100,000 UR points to 50,000 UR points on March 12. I have bad news on that front, from an extremely reliable, but anonymous source.

Effective today, January 20, Chase has removed the Chase Sapphire Reserve Card from its pre-approval process for all Chase branches, including for Chase Private Clients. This is supposed to be temporary, but it is not specified when pre-approvals for the CSR will be reinstated.

I suspect that pre-approvals will not be reinstated before the signup bonus decreases on March 12, and that means a lot of people over 5/24 are out of luck. I will keep this post up-to-date with any changes that come in.

As a sidenote, although it has been confirmed elsewhere, I can also confirm that the in-branch signup bonus for the CSR is being dropped to match the online offer on March 12. For those not subject to the 5/24 rule, March 11 will be the last day to get the 100,000 UR signup bonus in-branch.

Questions and comments can be dropped below; I will do my best to answer them.

FAQs

Q: Is it just the check for pre-approval, or the actual likelihood of being approved behind the scenes? Another words, is Chase annoyed at people coming in for pre-approval checks, but you would still stand the same chance of approval if you applied “blind”?

A: Neither, from my understanding of the question. It’s been removed from pre-approval all together. Bankers will no longer see pre-approvals for the CSR, even if a client might’ve been pre-approved for the card before today.

Q: Is this also for other Chase cards?

A: This change only affects the CSR.

Q: Does this mean that the 100K bonus is not available at all in branch, or is this just removing the possibility of those over 5/24 to get the 100K bonus? In other words, could someone still apply for the card in branch and qualify for the 100K bonus if they are approved?

A: The 100,000 UR signup bonus is still available in branch. People over 5/24 can only get the card via pre-approval, so this eliminates their ability to obtain the CSR altogether, for now. (Outside of a product change).



111 Responses to Chase Removing Pre-Approvals for the Chase Sapphire Reserve, Allegedly Temporarily

  1. Jon says:

    I may be in the minority here, but I actually like these moves that Chase is making. These are not ground-shattering moves like the 5/24 rule when it first came out, and shows that Chase is at least trying to address the problem of people like us while not drastically changing the product anymore like they did with 5/24. Hopefully, Chase can continue to assess the situation, and with more and more churners pulling away from Chase, they will start to relax the standards a little bit.

    • Matt says:

      Not surprising.

      I wouldn’t be surprised if 5/24 was a bit too much of a reaction for Chase to begin with. (Anecdotally) I have several friends that have basically 0 interest in churning that are still terrified to apply for Chase cards because of it. It’s the same fear as having “too many inquiries” on my credit report. They’ve literally said “nah, I don’t want to have too many cards in case of 5/24”. Do they know what it means? Not so much. Do they have to worry about it? No, but they do.

      Since Chase owns such a large proportion of the card market and since store cards are so prevalent (I don’t apply for them but so many people do, so often), I think this will adversely affect their interest and interchange market potential over time. I would be very interested to see what this does to their card portfolio over a long term. In the short term they’ve been increasing their signup bonuses to maintain volume. What will happen to their holdings after years of 5/24?

      I think it will soften in some way as the focus on minimizing costs tones down. This could take many forms — such as approving new card lines with 0% offers but not allowing points bonuses (as Citibank is planning to do now on their lines).

      A lot of people with debt that the Slate is marketed toward are over 5/24 b/c they went on a spending spree. Chase is throwing up unnecessary walls to acquiring profitable, interest-paying customers. I think they will have to change their approval rules over time to retain their position as largest US issuer.

      • cm says:

        It surely goes both ways: some people aren’t able to open new cards, but also some people won’t be closing theirs, because they wouldn’t want to not be able to get it again.

        But I totally agree that 5/24 is way too strict, especially since so many folks open store cards, payment plans etc. Yes, one may get around it at recon, but aren’t only the churners do that?

        • Scott says:

          I agree about the 5/24 being way too strict. My wife was talked into opening a Banana Republic store card 18 months ago in order to get an in store discount. She just signed away at the counter without reading and it turned out to be a credit card. She immediately closed it when she realized what happened, but it still goes against the 5/24 as that card has put her at exactly 5/24. Luckily she was able to get the pre-approval for the Reserve card.

          • Gary says:

            Your wife will probably cancel after the first year. She isn’t the customer that Chase wants. Most normal people don’t come close to 5/24. I get it, I hate it as well but please stop with the “this is going to hurt Chase.” I promise you Chase will be just fine but it does suck for us churners.

  2. Mike says:

    Wow was having the wife go in today…

    • Chris says:

      Same here. I’ve been reminding her for weeks. Just sent her the text when I read this and she’s pissed she didn’t go earlier. I was pretty surprised by her reaction since she’s not a churner and just uses the cards I tell her to use.

  3. scott says:

    Had the wife go in to the branch last Saturday to get the preapproval. I’m glad we didn’t wait any longer!

    It seems contradictory to mention at the end of the post that the last day to get the 100,000 point bonus in branch is March 11 while the remainder of the post implies that you won’t be able to get the card in branch until after March 12.

    • sirtheta says:

      Is my wording unclear somewhere? From my reading, the entire post states that March 12 is when the bonus drops, but I’d be happy to fix any muddied phrases.

      • Scott says:

        At the end you wrote “March 11 will be the last day to get the 100,000 UR signup bonus in-branch”, but the main point of your article is that you can no longer get this bonus in the branch as of today. So you’re basically telling everyone that you can no longer get this bonus in branch, but you can still get it in branch until March 11.

        • Scott says:

          Okay, Jim’s response below makes it clearer. I didn’t realize you can still go into the branch and apply for the card with the 100K bonus. I thought you had to be preapproved to do this.

        • sirtheta says:

          A-ha, I see it now. I’ve pre-pended the phrase “For those not subject to the 5/24 rule,” to that sentence. Thank you 🙂

    • Jim says:

      You can visit a Chase branch today and apply for the 100k offer.

      This post was explaining that it has been removed from their pre-approval process, which was the only way those under 5/24 could hope to get the 100k offer before it expired.

  4. ABC says:

    I thought James Dimon wanted to take greater losses on this card.

  5. Mjs says:

    Let me be the first to modify a popular saying: Thanks, Trump! 🙂

  6. Mjs says:

    On a more serious note, 2 questions I have that maybe your source can help with:

    1. Is it just the check for pre-approval, or the actual likelihood of being approved behind the scenes? Another words, is Chase annoyed at people coming in for pre-approval checks, but you would still stand the same chance of approval of you applied “blind”?

    2. Is this also for other Chase cards?

    • sirtheta says:

      I put these under FAQs, but my answers are copied below:

      1. Neither, from my understanding of the question. It’s been removed from pre-approval all together. Bankers will no longer see pre-approvals for the CSR, even if a client might’ve been pre-approved for the card before today.

      2. This change only affects the CSR.

  7. Kevin says:

    I’m not surprised. Chase is going to end up closing all loopholes so they can enforce 5/24

  8. Joe H says:

    I must be slow on this Friday – does this mean that the 100K bonus is not available at all in branch, or is this just removing the possibility of those over 5/24 to get the 100K bonus? In other words, could someone still apply for the card in branch and qualify for the 100K bonus if they are approved? Of course this has to do with me and my ability to apply in March after I drop to 4/24 on February 1st.

  9. gman says:

    Doc did clearly warn a while back that he doesnt know how long this loophole will last which is why myself and wife went in branch and got it. We are around 40/24 so there is no chance we would have gotten it otherwise.

    Generally if there is a good offer out there jump it there is no way to know when its gone.

    • Tom says:

      You were both 40/24 and you BOTH were pre-approved? Or more like each of you were 20/24? Either way, that’s impressive… I’m 18/24 and I didn’t have a pre-approval when I went in branch to check 🙁 Very sad… I was hoping to take some proactive steps in increase my pre-approval chances…. opened checking account, opened savings account, deposited 15k into savings… Updated income on the Chase web site… Lowered my credit limit on existing cards by 10k… I’m following all of the advice and nothing seems to be working 🙁 This is a very sad, sad day… for MULTIPLE reasons… #MakeChaseGreatAgain

      • Kevin says:

        Unfortunately the bottom line is Chase doesn’t want the business of people who have many recent accounts. Sucks for us but for now it’s reality.

      • Scott says:

        20/24 each or 40/24 total, either way that’s very impressive!

      • gman says:

        40/24 each approx, and yes both thankfully pre-approved. The pre-approval might be because we had some saving with chase (which we put in only to get the bonus :))..

        • Tom says:

          If you don’t mind me asking, approx how much did you deposit in your savings account in order to help trigger the pre-approval, and about how long was it there before you were successfully pre-approved? I’m currently trying to deposit 15k into my Chase Savings to trigger a pre-approval, but one month so far and nothing… Thanks for any insight you can provide!

          • gman says:

            I had put in 15k to get the $500 bonus. I can’t say for sure whether or not that was the reason for the pre-approval but it is likely it played a role.
            I had that account for approx 8 months prior to applying..

          • Tom says:

            I guess I have a lot of waiting to do, haha… Thanks, appreciate the info.

          • Scott says:

            Well, I’ve had a checking account with Chase for 5 years with over $20K. I paid off one Chase car loan recently, ahead of schedule, and just opened another car loan with them. I wasn’t pre-approved for a single Chase card. My wife has had a Chase checking account for 3 years with a balance always hovering around $1500 and has no other relationship with Chase. She was pre-approved for every Chase branded card and the United card. Go figure.

  10. kingofkingsforu says:

    So for my wife she didnt have pre approval for the CSR card, but she had pre approval for all other chase cards . She was 6/24. We went ahead and applied and in recon we argued , since we were pre approved for other cards we applied for the CSR card and said we would like to reallocate credit limits.

    It worked and she got approved for CSR. So dont lose hope and check for other card pre approvals.

    • Michael says:

      Interesting DP

    • digitalpop says:

      Wait, can you please elaborate? I’m a little confused..

      1) Your wife was NOT pre-approved for the CSR in-branch
      2) She WAS pre-approved for other Chase cards in-branch
      3) She applied, in-branch, for one of those other cards
      4) She was approved, in-branch, for one of those other cards
      5) She called recon and argued what exactly? That she wanted to apply for CSR INSTEAD of the approved card? So they changed her approved card to CSR? Or she applied, via recon, for the CSR over the phone as a new application/card?

      Please explain, this is a very useful DP!

      • Jay says:

        Nono, sounds like you misunderstood.

        Looks like the OP’s wife applied for just the CSR, despite not having a pre-approval. Upon getting the inevitable pending message, they called recon for it.

      • kingofkingsforu says:

        She applied for CSR for which she was not pre approved. She was pre approved for other UR cards.

        We applied for CSR and then argued , since we were pre approved for other cards , we asked to consider the CSR app and was fine with reallocating credit limits.

        It worked. So even if you are pre approved for other cards , go ahead and apply for CSR and recon with it.

  11. billy bob says:

    big thanks doc. while the door is closed right now, i and MANY others got the CSR because of you. this is where i heard about pre-approvals.

  12. Mike says:

    Great, had a trip to Portland canceled last week due to the storm where I was planning on getting the CSR in person. Just booked a trip to Orlando in 3 weeks to try to get the card in person. Thanks for the heads up.

  13. SteveH says:

    Arghhh… had a layover in Miami in beginning of March that I was going to finally be able to visit a branch.

  14. Ben says:

    It’s also been removed from affiliate channels, it looks like. Nowhere to be found on TPG or NerdWallet.

  15. Buvan says:

    I am at 3/24 and don’t have chase bank account and I do have 3 chase cards. If i go to bank and open CSR, will I get 100K bonus?

  16. James says:

    If someone really wants this card and has another Chase card already, why not just apply and get rejected if you’re over 5/24 and then call reconsideration to reduce or cancel the other chase cards. I would think if someone’s persuasive enough, they can get the card this way.

  17. April says:

    Oh no….I was hesitate for a minute yesterday whether I should go to branch and apply for it before the branch was closed at 6:00 pm….Then I thought I can wait until March since I have more actual spending later….:(

  18. M says:

    Oh no! I was going to check in branch today, after not being able to make it to one on Wednesday. Such bad timing! That said, thanks for saving me a pointless trip.

  19. BILAL HAKEEM says:

    WHEN WILL THE 5/24 RULE SOFTEN 2017 OR 2018? DOES ANYBODY REALLY KNOW ? THIS IS PERVENTING NEW CUSTOMER FROM TRYING CHASE CREDIT CARD PRODUCTS / THANKS

  20. Ryan says:

    Well this stinks. It was my last hope for the 100k bonus though I was holding out very, very little hope. I will skip this card and just get the CSP until the bonus goes back up on the CSR.

    I am at 5/24 exactly and will be able to able to apply in May when I hit 4/24. I have two Chase hotel cards and use them. I even opened a checking account and dropped in 5k hoping to help preapproval with no results. Never a single preapproval for any cards of any type. Not sure what it is but they do not like me at all it seems when I am, and would continue to be, a good customer for them.

    I am a customer looking for a card to hold for many years, and I want in the Chase UR program. The 5/24 thing is killing that. In the meantime AmEx has been getting almost all my swipes. (Not that you can tell from the financial results they put out today!)

  21. Holy says:

    Question:
    Is it possible that whatever criteria qualifies you as preapproved still exists, now there’s just no way to be certain you qualify as before?

    • sirtheta says:

      Unfortunately, no. The CSR can no longer be pre-approved.

    • Tom says:

      BUT, I think it’s safe to say that the majority of people that were pre-approved for the CSR (either online or in person) were also pre-approved for other, lower-level Chase branded cards… so if you’re seeing pre-approvals for other Chase cards, then there’s is probably a decent chance that you’ll also get a pre-approval for the CSR one this “temporary” hold is lifted. However, if you’re like most of us that are crying in the corner today, you probably don’t have pre-approvals for any Chase cards… 🙁

  22. Gerry says:

    Apologies for not getting it, I’m an avid reader and plenty clear what 5/24 means (I’m precisely at 5/24 now, was waiting till I am 4/24 next month to go in-branch to apply). I’m unclear, however, about why the pre-qual matters. Right now, the only way to get the 100K bonus thru 3/11 is to apply in-branch. You can’t get the CSR in-branch, online, in another dimension if 5/24 prevents you. I get that there’s a special “pre-qual” status that has now been dropped, and that this gave applicants a leg-up on approval. But doesn’t all this mean that if you are 4/24 or fewer and you apply in-branch and you’re presumably qualified in your own right, you should still get approved and get the 100K bonus opp’y? Guessing what I’m missing is that someone who somehow had a CSR pre-qual but exceeded 5/24 might have somehow been approved anyway, and now won’t be. Am I getting this right?

    • sirtheta says:

      You do have it right; basically, there is only one way around 5/24 and that is if you are pre-approved for the card. In such a case, 5/24 is not taken into consideration and you will be approved (pretty much 100% odds). So now, if you’re over 5/24 you cannot get the CSR.

      As long as you aren’t 5+/24, this won’t affect you 🙂

  23. Jonathan says:

    I don’t get under 5/24 until April 1. I was hoping to apply in-branch the first week of March and call reconsideration after April 1, but just put together that I’ll be out of the country for the first part of March, of course coming back late on March 11. Any suggestions for getting an application in or am I just hosed?

  24. Tom says:

    Since I will be 4/24 this April, I should be able to apply for CSR some time before March 12th, and call for reconsideration in April. Would I still get the 100k bonus if it is approved in April then? Thanks!

  25. lorem ipsum says:

    Ack, in early January my wife had an in-branch CSR preapproval but didn’t have time to apply right then. So she applied when we got home and was denied (she’s at 7/24, 5/24 if you drop AU cards). We thought we’d apply in-branch sometime before March rolled around, on the assumption that she’d still have the preapproval. There goes that plan… 🙁

  26. Serge says:

    Confirmed. Went to branch today and was pre-approved for Freedom Unlimited and CSP but they said they aren’t pre-approving the Reserve card at all because it is “new”.

  27. Kiran says:

    Quick Question. Can I just go to chase in-branch and apply for the card? or Do i need to have chase checking/savings account to apply for the card in-branch?

  28. Jules says:

    I went in to a chase branch on 1/20 to get my pre-approved CSR. The banker said it was no longer there which puzzled him as he was the one who saw the preapproval a month ago. Now I know why. 🙁

  29. Bill M says:

    I have to believe that the third parties would not like Chase’s 5/24 rule if they really understood what it means. I can’t imagine Marriott or Southwest or United cares one lick about Chase wanting to limit its overall card exposure. If I’m a Marriott exec, I would want my customers to have the easiest time possible to get my co-branded card. Perhaps ordinary folks like us should become more vocal and complain to the third parties that are negatively impacted by 5/24. I know this won’t help with CSR but I can’t even get a Southwest card because I am at 5/24. These companies might like to know about 5/24 when they are assessing which card issuer to partner with.

    • sirtheta says:

      That can’t be true because Chase has many partners whose cards aren’t subject to 5/24 and Marriott’s business card is not under 5/24 while the personal card is (and Ritz-Carlton is not 5/24 either). There’s no way this isn’t written into Chase’s agreements.

  30. RD says:

    What do you think the odds are of the CSR sign-up bonus temporarily increasing to 100,000 sometime in the future (ala AMEX platinum at times)? Just wondering if I should wait until it’s increased again, or sign up for it sometime at 50,000 when I’m eventually below 5/24.

    • sirtheta says:

      The AmEx Platinum going to 100k is generally not intentional on AmEx’s part.

      Anything can happen — Chase did just raise the CSP in-branch sign-up bonus to 70k and the CFU to 30k for certain pre-approvals. However, I wouldn’t hold my breath. You might be waiting for a long time for a better CSR signup bonus.

  31. Charles says:

    If I apply for the Sapphire Reserve in branch and then go home and apply for another card online, will the inquiries still be combined?

    Just wondering if anyone has confirmed this one way or the other?

  32. tone2310 says:

    Any news on when/if pre-approvals will be back in branch for those > 5/24?

  33. Mike says:

    I’m relatively new to the CC bonus game, I hit my 5/24 a few months ago, didn’t dawn on me until recently to have my wife start applying for cards, but too late for CSR 100,000 point bonus. I don’t live anywhere remotely close to a Chase branch, any chance my wife can call one and apply over the phone? 🙂

  34. Z says:

    DP – Tried to apply for the CSR in branch and wasn’t allowed due to already being an authorized user on a CSR. They even called someone to confirm this was the case. Has anyone else had this issue? Should I try at a different branch? Thanks!

    • Z says:

      Called customer service and they told me that what the banker said was “false”. They told me to apply online and they would escalate the issue to match the 100k. I’m not sure I understand what the issue was in branch then… Maybe the same issue as blah blah below me?

  35. blah blah says:

    went into branch today to try to get the CSR knowing im over 5/24. didn’t realize they removed the pre-approval. apparently the only way even for the banker to apply is using the online platform which only offers 50K. in the wiki above it says that a banker in branch can still apply with the 100k offer?how? maybe the banker didn’t know what they were doing?

  36. Pradeep says:

    Hi, Both me and my wife went in branch to check on Preapprovals. We were told by the banker that we had an ‘invitation to apply’ on this card.
    Could someone help me out on what ‘invitation to apply’ would mean ? It was on both me and my wife’s account.

    • Pradeep says:

      Never mind ..found the answer here ..
      http://www.doctorofcredit.com/chase-pre-approval-branch-frequently-asked-questions/

      Doesnt look like good news but asked my wife to go ahead and apply. Will report back on data point. So far :
      1) She also got an range 16.xx to 23.xx on the APR rate
      2) She has 760 score

      Thanks

    • Not the same as pre-approval AFAIK

      • Pradeep Patil says:

        Thanks William. I went ahead and applied for her and she got the card approved.
        DP for everyone. Applied for Sapphire reserve for spouse.
        0) No preapproval. Just ‘Invitation to Apply’
        1) 1/24. AU on another Chase freedom card.
        2) 750 -770 credit score range
        3) Chase banker#2 was really helpful. We had applied last week (with another banker #1) but somehow that application didnt go through which was totally weird. I was told they had some connectivity issues
        3) Chase banker #2 somehow maybe revived that application so as to not have two credit inquiries and applied today
        4) She then personally called up the underwriting dept rep and asked them verify about this application
        5) The underwriting dept rep verified and approved it on the spot
        6) Wooohooo !!!

        Now excited to wait for the card !

  37. TravelingAlong says:

    FYI
    DP as of 2/13/17
    * Went in branch to get CSR for 100K bonus.
    * Was pre-approved — banker showed me on-screen pre-approval. Took about 10-15 minutes total.
    * 1/24 with 800+ credit.
    * Received card via UPS on 2/15/17 (2 days later!).
    * Applied for 70K United MileagePlus Explorer card online same day (2/13) — got 30-day wait email. Don’t know if combined inquiries.

    • dice140 says:

      Hi, was there a fixed APR when he showed you the screen?

      If anyone else has seen pre-approvals lately, please post here 🙂

      • TravelingAlong says:

        APR wasn’t shown with on-screen approval — banker discussed it with me beforehand; but I don’t remember what it was at the time (I pay off in full each month so APR wasn’t a sticking point). Screen was bare minimum of info — showed total credit line available ($34K), and that’s about it I think.

  38. TravelingAlong says:

    APR wasn’t shown with on-screen approval — banker discussed it with me beforehand; but I don’t remember what it was at the time (I pay off in full each month so APR wasn’t a sticking point). Screen was bare minimum of info — showed total credit line available ($34K), and that’s about it I think.

    • dice140 says:

      Thanks for the quick reply. I was asking if the pre-approval screen they showed you had a fixed APR rate as that’s usually (if not always) indicative of a true pre-approved offer. It’s been reported by many people that they’re told they’re “pre-approved” when they really aren’t. More accurately, they’re “invited to apply”.

  39. Matthew says:

    With 2.5 weeks to go, I really hope Chase gets pre-approvals back for the CSR before the 100k ends! 🙁

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