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Approvals for CSP with less than 1yr. history ?

Regular Contributor

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


improvingmycredit wrote:

Hey Mustang!!

So what did you decide?  Are you going to app or wait?  Also, I was confused on your post because your Siggy states you only have a 1K limit on your BCE. Smiley Happy. Thanks for the clarification.  You may want to fix that to 10K.  Let us know what you decide-- I am very interested in this outcome.  Smiley Happy



I plan on applying for the CSP but first I will apply for a 3x CLi on the BCE from 1K to 3k

The 61st day will be thursday of next week .

I am not sure how long it takes for Amex to report a CLi.

 

I  really do not know why I received a 10K CLi on the True Earnings card and only a 1K on the BCE card.

 

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)
Message 31 of 36
Valued Contributor

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


Mustangfrank wrote:

I plan on applying for the CSP but first I will apply for a 3x CLi on the BCE from 1K to 3k

The 61st day will be thursday of next week .

I am not sure how long it takes for Amex to report a CLi.

It will reflect new CL at your next statement.

 

I  really do not know why I received a 10K CLi on the True Earnings card and only a 1K on the BCE card.

Because you maxed out on how much AMEX is willing to extend credit. Like Chase, AMEX looks at total CL you have with them, not per account basis.


 

Message 32 of 36
Regular Contributor

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


trumpet-205 wrote:

Mustangfrank wrote:

I plan on applying for the CSP but first I will apply for a 3x CLi on the BCE from 1K to 3k

The 61st day will be thursday of next week .

I am not sure how long it takes for Amex to report a CLi.

It will reflect new CL at your next statement.

 

I  really do not know why I received a 10K CLi on the True Earnings card and only a 1K on the BCE card.

Because you maxed out on how much AMEX is willing to extend credit. Like Chase, AMEX looks at total CL you have with them, not per account basis.


 


So do you think there might be a problem applying for the 61day 3x CLi for my BCE (1K to 3K) at this time.

If it is going to raise some flags then I can wait.

I assume it would be an autmated process.

 

I have run a a few thousand dollars through all my Amex cads and paid in full.

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)
Message 33 of 36
Valued Contributor

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


Mustangfrank wrote:

So do you think there might be a problem applying for the 61day 3x CLi for my BCE (1K to 3K) at this time.

If it is going to raise some flags then I can wait.

I assume it would be an autmated process.

 

I have run a a few thousand dollars through all my Amex cads and paid in full.


Worst case with CLI, a denial with FR (yes some do trigger FR with CLI). I'd say still go for it. If denied you can shift CL from your Costco card to BCE.

Message 34 of 36
Community Leader
Valued Contributor

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


Mustangfrank wrote:

trumpet-205 wrote:

Mustangfrank wrote:

I plan on applying for the CSP but first I will apply for a 3x CLi on the BCE from 1K to 3k

The 61st day will be thursday of next week .

I am not sure how long it takes for Amex to report a CLi.

It will reflect new CL at your next statement.

 

I  really do not know why I received a 10K CLi on the True Earnings card and only a 1K on the BCE card.

Because you maxed out on how much AMEX is willing to extend credit. Like Chase, AMEX looks at total CL you have with them, not per account basis.


 


So do you think there might be a problem applying for the 61day 3x CLi for my BCE (1K to 3K) at this time.

If it is going to raise some flags then I can wait.

I assume it would be an autmated process.

 

I have run a a few thousand dollars through all my Amex cads and paid in full.


I don't think that you will have any problems with FR at all.  Also, the lending standards are more relaxed for the TE then the BCE thus the ridiculously big difference in CLs.  It's my belief that you will get the full 3K.  The 3X CLI is based off a more then likely already pulled SP.  If not too much has changed on your reports since your approval, then you are cake.  


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 35 of 36
Highlighted
Regular Contributor

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


trumpet-205 wrote:

Mustangfrank wrote:

So do you think there might be a problem applying for the 61day 3x CLi for my BCE (1K to 3K) at this time.

If it is going to raise some flags then I can wait.

I assume it would be an autmated process.

 

I have run a a few thousand dollars through all my Amex cads and paid in full.


Worst case with CLI, a denial with FR (yes some do trigger FR with CLI). I'd say still go for it. If denied you can shift CL from your Costco card to BCE.


Well I certainly do not want to poke the Bear so early in the game as I just received the Amex cards. 

It is more important that I get  a few more credit lines  with someone other than Amex.

and when  I do I will drop the CapitalOne secured card.

That is why I am interested in the CSP.

I could also apply for the Freedom and a Discover card I guess.

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)
Message 36 of 36