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Chase has increased the initial offer for the Chase Sapphire Preferred® Card to 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. This is one of the best card deals I’ve ever seen.
This isn’t a credit repair card, it’s a rewards card, and Chase is spending a lot of money to market to consumers they expect to become profitable for them.
Several years ago I wrote about aggregated consumer data reporting an average credit score of 728 when approved for the card. However earlier The Points Guy reported that similar data showed an average score of 736 for those approved for the card.
Of course that average may not be that enlightening. Many people have scores much higher than needed when they’re approved. Business Insider writes that you need “a minimum credit score in the high 600s” and that seems about right for a possible median or modal score, and it hasn’t seemed uncommon for readers to report that they had scores in the mid-600s when they were approved for the card.
My own score has a tendency to bounce around quite a lot based on how I’m using my credit. And of course your income, 5/24 status, and other factors go into determining whether you’ll be approved for the card as well. Credit score isn’t the only factor but it’s worth knowing that you likely need a good score but it also probably doesn’t have to be perfect by any means.
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