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Regular Contributor
Mustangfrank
Posts: 193
Registered: ‎07-17-2012
0

Approvals for CSP with less than 1yr. history ?

I want to deversify my credit cards and was wondering what my chances were of

getting approved for CSP with only ten (10) months of recent credit history.

I also have Amex backdating 29 years.

 

I  have a 3 month old Checking account with Chase.

 

No Negatives.

PIF monthly with less than 10% usage.

2 HP's 10 Months ago 1 HP 2 Months ago. (3 Total)

 

Amex Zync NPSL 9/12, Amex CostcoTrue Earnings $10K 9/12
Amex BCE $3K 9/12 (Amex Back Dated to 1983)
Chase Sapphire Preferred $17K 11/12, Chase Freedom $7K 11/12
Discover More $750 11/12
CapitalOne Platinum Secured Card 2K 2/12 (Closed 12/12)
FICO: EQ = 804 EX = 802(Amex) TU = 801(Discover)
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Approvals for CSP with less than 1yr. history ?

pretty decent with your scores, if you add me to your Amex I can add you to my CSP which will increase your chances :smileywink:

Chase likes to see high limits, you should be fine regardless since you got a 10k tradeline, but I'll trade AU's =D


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Regular Contributor
Mustangfrank
Posts: 193
Registered: ‎07-17-2012
0

Re: Approvals for CSP with less than 1yr. history ?


distantarray wrote:

pretty decent with your scores, if you add me to your Amex I can add you to my CSP which will increase your chances :smileywink:

Chase likes to see high limits, you should be fine regardless since you got a 10k tradeline, but I'll trade AU's =D


LOL sounds good to me.

 

I am a little too AMEX heavy and thought the Holiday Season might be a good time to get some other cards.

I was also thinking of applying for a Discover Card since they send me Pre-Approvals every week.

Then I will need one more maybe the USA BANK +.

I will then drop the Cap1 as it was a starter card and has served its purpose.

 

Amex Zync NPSL 9/12, Amex CostcoTrue Earnings $10K 9/12
Amex BCE $3K 9/12 (Amex Back Dated to 1983)
Chase Sapphire Preferred $17K 11/12, Chase Freedom $7K 11/12
Discover More $750 11/12
CapitalOne Platinum Secured Card 2K 2/12 (Closed 12/12)
FICO: EQ = 804 EX = 802(Amex) TU = 801(Discover)
Blogger
HiLine
Posts: 2,905
Registered: ‎10-19-2012
0

Re: Approvals for CSP with less than 1yr. history ?

[ Edited ]

Mustangfrank wrote:

I want to deversify my credit cards and was wondering what my chances were of

getting approved for CSP with only ten (10) months of recent credit history.

I also have Amex backdating 29 years.

 

I  have a 3 month old Checking account with Chase.

 

No Negatives.

PIF monthly with less than 10% usage.

2 HP's 10 Months ago 1 HP 2 Months ago. (3 Total)

 


I think the title of the thread is misleading. You have a 29 year credit history. :smileywink:

 

I'd say your chance is pretty good. If you also want a Discover More, try to time the applications as close to each other as possible, say several seconds apart.

Senior Contributor
youngandcreditwrthy
Posts: 6,211
Registered: ‎08-16-2012
0

Re: Approvals for CSP with less than 1yr. history ?

Lol... You have more than a year of history!!! Misleading post
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Senior Contributor
youngandcreditwrthy
Posts: 6,211
Registered: ‎08-16-2012
0

Re: Approvals for CSP with less than 1yr. history ?

+1 hiline lolllzz
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Moderator
Revelate
Posts: 9,025
Registered: ‎12-30-2011
0

Re: Approvals for CSP with less than 1yr. history ?


HiLine wrote:

Mustangfrank wrote:

I want to deversify my credit cards and was wondering what my chances were of

getting approved for CSP with only ten (10) months of recent credit history.

I also have Amex backdating 29 years.

 

I  have a 3 month old Checking account with Chase.

 

No Negatives.

PIF monthly with less than 10% usage.

2 HP's 10 Months ago 1 HP 2 Months ago. (3 Total)

 


I think the title of the thread is misleading. You have a 29 year credit history. :smileywink:

 

I'd say your chance is pretty good. If you also want a Discover More, try to time the applications as close to each other as possible, say several seconds apart.


Actually it's a fair point he made; while FICO doesn't know about backdating per se (i.e. it counts it blind), virtually every underwriter in Chase looking at the report is only going to see the 10 months, and who knows what their internal algorithms do in that regard.

 

OP: There have been some approvals for a CSP with less than a year's history in the past 5ish months; I think you have a shot but I'm not so certain how good of one.  On the plus side, Chase / Amex appear to be grasping for each other's customers so having a heavy-Amex report isn't a bad thing when applying for a CSP in my opinion; however, having a year on a recent tradeline would likely be nothing but goodness for Chase UW.  If you can afford the inquiry, may be worth it, otherwise I'd just hang out for another few months... and incidently that gets you to the six month mark on the checking account too.

 

FWIW this is pretty close to my own possible CSP acquisition plan I'm just doing it on a longer time horizon than you, but my scores don't really support an application yet anyway with my aging sins of my youth.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Blogger
HiLine
Posts: 2,905
Registered: ‎10-19-2012
0

Re: Approvals for CSP with less than 1yr. history ?


Revelate wrote:

HiLine wrote:

Mustangfrank wrote:

I want to deversify my credit cards and was wondering what my chances were of

getting approved for CSP with only ten (10) months of recent credit history.

I also have Amex backdating 29 years.

 

I  have a 3 month old Checking account with Chase.

 

No Negatives.

PIF monthly with less than 10% usage.

2 HP's 10 Months ago 1 HP 2 Months ago. (3 Total)

 


I think the title of the thread is misleading. You have a 29 year credit history. :smileywink:

 

I'd say your chance is pretty good. If you also want a Discover More, try to time the applications as close to each other as possible, say several seconds apart.


Actually it's a fair point he made; while FICO doesn't know about backdating per se (i.e. it counts it blind), virtually every underwriter in Chase looking at the report is only going to see the 10 months, and who knows what their internal algorithms do in that regard.

 

OP: There have been some approvals for a CSP with less than a year's history in the past 5ish months; I think you have a shot but I'm not so certain how good of one.  On the plus side, Chase / Amex appear to be grasping for each other's customers so having a heavy-Amex report isn't a bad thing when applying for a CSP in my opinion; however, having a year on a recent tradeline would likely be nothing but goodness for Chase UW.  If you can afford the inquiry, may be worth it, otherwise I'd just hang out for another few months... and incidently that gets you to the six month mark on the checking account too.

 

FWIW this is pretty close to my own possible CSP acquisition plan I'm just doing it on a longer time horizon than you, but my scores don't really support an application yet anyway with my aging sins of my youth.


Those are good points. His best bet is trying to get an instant approval so the Amex backdating function won't be detected through manual review. Hopefully Chase's own scoring system treats credit length the same way FICO doesn.

 

Regular Contributor
Mustangfrank
Posts: 193
Registered: ‎07-17-2012
0

Re: Approvals for CSP with less than 1yr. history ?

THANKS EVERYONE FOR YOUR HELP

 

 I should clarify a bit.

 

I had an American express card from 1983 till 1988 and then stopped using credit cards for some 24 years.

In that  period I used  checks, cash, debit cards and prepaid credit cards.

But I had no credit reporting cards and my credit rating was zero.

 

Ten (10) months ago i started to rebuild with a CapitalOne secured card.

PIF every month at less than 10% usage and my scores shot up very quickly.

Amex issued three cards in one day.

(788 was my latest FICO that Amex reported which was pulled from Experian.)

 

I never had a BK or any CO's

 

I was thinking maybe I can slip by Chase's computers with an instant approval.

I would suspect if  a Chase credit analyst were to examine my thin file they would not approve the application.

 

I have come this far with the help of this community and I am very Thankful.

 

 

Amex Zync NPSL 9/12, Amex CostcoTrue Earnings $10K 9/12
Amex BCE $3K 9/12 (Amex Back Dated to 1983)
Chase Sapphire Preferred $17K 11/12, Chase Freedom $7K 11/12
Discover More $750 11/12
CapitalOne Platinum Secured Card 2K 2/12 (Closed 12/12)
FICO: EQ = 804 EX = 802(Amex) TU = 801(Discover)
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Approvals for CSP with less than 1yr. history ?


Revelate wrote:

HiLine wrote:

Mustangfrank wrote:

I want to deversify my credit cards and was wondering what my chances were of

getting approved for CSP with only ten (10) months of recent credit history.

I also have Amex backdating 29 years.

 

I  have a 3 month old Checking account with Chase.

 

No Negatives.

PIF monthly with less than 10% usage.

2 HP's 10 Months ago 1 HP 2 Months ago. (3 Total)

 


I think the title of the thread is misleading. You have a 29 year credit history. :smileywink:

 

I'd say your chance is pretty good. If you also want a Discover More, try to time the applications as close to each other as possible, say several seconds apart.


Actually it's a fair point he made; while FICO doesn't know about backdating per se (i.e. it counts it blind), virtually every underwriter in Chase looking at the report is only going to see the 10 months, and who knows what their internal algorithms do in that regard.

 

OP: There have been some approvals for a CSP with less than a year's history in the past 5ish months; I think you have a shot but I'm not so certain how good of one.  On the plus side, Chase / Amex appear to be grasping for each other's customers so having a heavy-Amex report isn't a bad thing when applying for a CSP in my opinion; however, having a year on a recent tradeline would likely be nothing but goodness for Chase UW.  If you can afford the inquiry, may be worth it, otherwise I'd just hang out for another few months... and incidently that gets you to the six month mark on the checking account too.

 

FWIW this is pretty close to my own possible CSP acquisition plan I'm just doing it on a longer time horizon than you, but my scores don't really support an application yet anyway with my aging sins of my youth.


he was the basic member that he got his account backdating chase underwritters or anyone wouldn't be able to flag anything unless they see obvious like 24 year history on a 18 year old's account. also if he applies online no underwrtters wi even look at it anyways


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758

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