Advice!!!

[kwinks]

Hi all, so I want to apply for Amex bcc and chase sp....that being said, I also really want to increase my cl on the two cards I have now, chase freedom and bofa cash rewards. 

Do you recommend asking for cl increase first then applying for new cards? I'm worried 1. About hps and 2. Cc companies thinking I am desperate for credit which Im not. 

worst case scenario I could wait on cl increase for chase freedom (current limit of 3000) however bofa really needs to increase my limit which has been at 500 for almost a year now.  

Thanks in advance. 

[thom02099]

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@kwinks wrote:

Hi all, so I want to apply for Amex bcc and chase sp....that being said, I also really want to increase my cl on the two cards I have now, chase freedom and bofa cash rewards. 

Do you recommend asking for cl increase first then applying for new cards? I'm worried 1. About hps and 2. Cc companies thinking I am desperate for credit which Im not. 

worst case scenario I could wait on cl increase for chase freedom (current limit of 3000) however bofa really needs to increase my limit which has been at 500 for almost a year now.  

Thanks in advance. 

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What are your current scores and util?  What's overall credit picture?  You've got some decent cards what are the limits? 

Just did a CLI on 3 cards, went 3 for 3 on all of them (see siggy below)

[kwinks]

I just pulled tu 733, and eq 743. 

My util is at 18% today but will be 8% tomorrow after chase balance is 0. 

I have chase freedom cl of 3000

bofa cash rewards 500 

nordstroms 750

au on Macy's card 400 

and cap 1 secured card cl of 200 which I hoping to close next month after I get these two new cards. 

Congrats you have amazing limits.   can't wait until I get limits like that lol

[mirachi]

What is your annual income? (CS has a minimum income requirement of $30,000/year)

[thom02099]

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@kwinks wrote:

I just pulled tu 733, and eq 743. 

My util is at 18% today but will be 8% tomorrow after chase balance is 0. 

I have chase freedom cl of 3000

bofa cash rewards 500 

nordstroms 750

au on Macy's card 400 

and cap 1 secured card cl of 200 which I hoping to close next month after I get these two new cards. 

Congrats you have amazing limits.   can't wait until I get limits like that lol

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Just my opinion, but I think you'll have more of a chance to get an AMEX product than CSP,  even though you have the Freedom card. Chase likes to see a CL of at least $5k on a competing card.  Rather than going for the CSP, why not try CLI on the Freedom card?  Get the Freedom up to $5K,  apply for an AMEX product and shoot for a $5K limit there.  Then further down the road you could look at that CSP card!

[Revelate]

Thoms point about the CSP is generally commonly held, though admittedly it's a YMMV with regards to CSP; this is especially true if you have a relationship with Chase already.

I'd ask two questions, first, if you don't mind sharing, what is your income?  Chase appears to have something of a sliding scale for CSP approvals anecdotally, and secondly how long have your other cards been open for?  

I don't think you'll have a problem obtaining the Amex, and neglecting the CSP for the moment, I'd go Amex -> Chase CLI -> BOFA CLI personally.  

CSP, not sure as approvals there have been somewhat all over the map but Amex certainly appears to absolutely be easier to obtain currently; however, I think it'd be Amex -> CSP -> BOFA CLI.  I'd recommend throwing out the Freedom CLI for the time being if you are trying for the CSP.  I'd go this route as personally I'd get the likely approval done and out of the way first, let the CSP fall where it may, and expect the BOFA CLI to land on TU anyway which unless you live in the Midwest, is very unlikely to be hit by either Amex or Chase for the majority of people.

Hopefully others with more personal experience in CSP underwriting will chime in, and perhaps also with Amex/Chase combined apps.  I was close to instantly approved for a BCP, but my Freedom app is still pending .

[kwinks]

Hi so my income, on the conservative side is 35,000. I think I put 33,000 on chase freedom application, more like 40-45000. 

Pmy chase freedom and Bank of America card will turn 1 next month anthin live in northern California. 

So I am thinking what I will so is get cli for bofa, and apply for Amex and chase csp. I just want to get apps out of the way and garden for the rest of my life....lol patience is definitely not my virtue 

thanks you guys for your help 

[kwinks]

* 1 year for the chase freedom and bofa cash rewards

[TiggerDat]

Having the Freedom card might help with an Amex as it is a competing card to some degree.  However, they might want you to have more than one year of history.  Your utilization rate is good, so that will be a benefit.  I imagine if you try and get the Amex card, then the CSP will be easier to get. 

No one has yet asked, but do you have anything negative on your report?  A late payment within the last 2 years or something else?  This could also be a hassle.  I app'd for the Freedom card and was denied because of my student loan issue, even though it has been corrected and has been reporting as OK for the last 2 years.  Remember, with companies like Chase and Amex, credit score is not everything.  If you are declined for the Amex card you could always try to recon it, that's what I did with my Chase card!  While I did not get a good limit, I did get the card!  I am very happy to have that card and the new Discover It card, which also took a recon.  (Discover was also a fairly low limit, but twice that of Chase.  Now I am going to go crazy on the Chase card and BBVA Compass card to get those rewards in the next 3 months!  Nice thing is, I still won't pay a penny of interest!)

[kwinks]

Nope no negatives or anything bad on history...

congrats on the two cards. I'm so afraid of rejection lol but I'll probably apply for both tomorrow. I'm thinking bofa cli then Amex then csp....

fingers crossed