Chase Sapphire Reserve's income requirements are not publicly disclosed. Your income should cover the $450 annual fee and monthly payments on a credit line of $10,000 or more, and the more income you have compared to your debt the better, but there is no specific guidance.
Chase Sapphire Reserve Income Rrequirement Facts
- Chase doesn’t disclose any particular number. You might get approved with a lower income but near perfect credit. Or you might get approved with credit toward the lower end of the excellent range but a very high income. The situation is different for each person.
- To get this card, you must be able to afford at least the $450 annual fee and minimum monthly payment. The smallest credit line you can get is $10,000. And if you used all of that, your minimum payment would be $100, plus interest.
- Debts are important too. If every dollar you earn already goes to repaying other balances, your income alone doesn’t really reflect your ability to pay.That’s why Chase considers your debt-to-income ratio.
Working to increase your income before you apply for Chase Sapphire Reserve could be helpful. Ofcourse, that’s not always doable. But if you’re able to get a raise or do some extra work, it could increase your approval odds.
You should also be sure to include every piece of income you can in the figure you report on your application. It’s not just your job that counts. Gifts, scholarships, grants, trust funds, Social Security income and retirement income do, too.
Finally, it’s important to remember that income isn’t everything. You’ll also need an excellent credit score (750+). Plus, Chase will look at your housing status and number of recently-opened accounts.
This answer was last updated on 07/15/24 and it was first published on 05/21/18. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
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FAQs
Credit card issuers don't necessarily have a minimum income requirement for their credit cards. However, they need to make sure cardholders have enough assets or income to afford their minimum monthly payment, and the Chase Sapphire Reserve has a minimum $10,000 limit.
What salary do you need for Chase Sapphire? ›
The Chase Sapphire Preferred Card requires an annual income of at least $30,000, according to user reports. Chase doesn't publicly disclose the Sapphire Preferred Card's income requirements, but you can apply for the card if you meet the credit score requirement, are at least 18 years old, and have an SSN or ITIN.
What qualifies you for Chase Sapphire Reserve? ›
The Chase Sapphire Reserve is Chase's premier credit card and offers a large welcome bonus, spending rewards and travel perks. To qualify for the Chase Sapphire Reserve it's recommended to have a very good or excellent credit score of 740 or higher, though other factors affect eligibility as well.
Is there a minimum income for Chase Sapphire Preferred? ›
The Chase Sapphire Preferred requires good to excellent credit to qualify, so you should aim for a credit score of at least 700. While there's no minimum income requirement, the higher your income, the better your approval odds — and the higher credit limit you'll get.
Is it hard to get approved for Sapphire Reserve? ›
Credit score needed for the Chase Sapphire Reserve card
To give yourself the best chance of being approved, aim for a FICO Score of 740 or higher. But remember, Chase considers much more than your credit score when reviewing your application, including how many credit cards you have opened with other banks recently.
Why don't I qualify for Chase Sapphire Reserve? ›
In most cases, your application could be denied due to having a lower credit score or not having enough income. Call the Chase reconsideration line. If you think the stated reasons are inaccurate, you can call the Chase reconsideration line at (888) 609-7805.
What is the starting limit for Chase Sapphire Reserve? ›
The Chase Sapphire Reserve® card does give high credit limits, as it comes with a minimum credit limit of $10,000. Additionally, some Chase Sapphire Reserve cardholders have reported getting credit limits as high as $80,000.
What is the average income of Chase Sapphire Reserve holder? ›
Nearly $120,000 a year was the average income AskSebby found for those approved for the Chase Sapphire Reserve: not quite 1%ers, but close. Only 6% earned less than $50,000, according to the survey.
Is it hard to qualify for Chase Sapphire? ›
The Chase Sapphire Preferred® Card isn't a credit card for everyone — you'll need to have good to excellent credit to have a chance at getting approved. We recommend having a FICO score of at least 690 before applying for this card. If you need to wait a bit and work on your credit, it's a good idea to do that.
Who is the Chase Sapphire Reserve best for? ›
Who Should Get the Sapphire Reserve?
- Those Who Want a Substantial Welcome Offer. ...
- Those Who Can Offset the Annual Fee Through Card Benefits. ...
- Those Who Can't Get These Perks From Another Card. ...
- Those Who Want To Earn Ultimate Rewards at an Elevated Rate. ...
- Those Who Are Under 5/24.
The 5/24 rule, often referred to as the Chase 5/24 rule, is an unofficial Chase guideline that states you will not be approved for a new Chase card if you have opened five or more credit card accounts from any bank within the past 24 months.
How much do you need to spend for Chase Sapphire Reserve to be worth it? ›
If you book through Chase Travel
Verdict: Based on these assumptions, if you spend at least $10,905.06 on eligible purchases in a year and plan to redeem your points by booking travel through the Chase Travel portal, you're better off going with the Sapphire Reserve. This breaks out to just $909 per month.
What should my income be for Chase Sapphire Reserve? ›
Chase Sapphire Reserve's income requirements are not publicly disclosed. Your income should cover the $450 annual fee and monthly payments on a credit line of $10,000 or more, and the more income you have compared to your debt the better, but there is no specific guidance.
What is a good annual income for a credit card? ›
A good annual income for a credit card is more than $39,000 for a single individual or $63,000 for a household. Anything lower than that is below the median yearly earnings for Americans. However, there's no official minimum income amount required for credit card approval in general.
What is the minimum FICO for Chase Sapphire? ›
Generally, you'll need to have a credit score of at least 700 in order to qualify for the Chase Sapphire Preferred® Card.
What is the minimum requirement for Chase Sapphire? ›
While there is no official score required, it is generally known that the Chase Sapphire Preferred® Card requires a good credit score, which means 690 or higher. This is not a hard and fast rule, however, and those with credit scores lower than 690 could possibly get approved.
