CSP - Can I get it? Should I get it?

[Anonymous]

Yes, this is a new policy. NO branded cards if you have opened 5 of any credit cards in the last 2 years.

[Anonymous]

Do I think you should get the card... yes, it's an awesome card!

Your spending seems to justify too I guess.

But as you've said, you have 5 new accounts in 24 months, so I would wait for one of them to drop off.

Also, what is your income? If it's anything below $25k I would say don't bother.

Chase like to see a higher income with this card for multiple reasons.

[red259]

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@Anonymous wrote:

Do I think you should get the card... yes, it's an awesome card!

Your spending seems to justify too I guess.

But as you've said, you have 5 new accounts in 24 months, so I would wait for one of them to drop off.

Also, what is your income? If it's anything below $25k I would say don't bother.

Chase like to see a higher income with this card for multiple reasons.

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+1 I think its pretty much an automatic denial so I would wait on the app, until one of them drops off or chase changes its policy. 

[Anonymous]

There is also some question as to whether store cards count against the 5 new accounts limit. I was just approved for the Freedom card last week. I had 6 new accounts within the last 13 months, but 3 of them were store cards. I was preapproved and got instant approval.

[takeshi74]

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@Anonymous wrote:

 Is there a case to be made for apping CSP and then canceling the Southwest card just before the fee hits?

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That's your call to make.  I don't recall all the details of the SW card but I have both my CSP and my UMPE as the UMPE provides benefits on United that are not provided by the CSP.

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@Anonymous wrote:

Am I starting to spread myself too thin?  If I app CSP, I'd have Double Cash that I'd only use for haircuts and occasional online shopping really.  And the QS wouldn't get anything other than a small recurring subscription in a year once this Uber deal falls off.

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Run the numbers and compare.  Are 1.5% and 1%+1% better than what you could get by shifting that spend to the CSP?  What value can you get via your redemptions of UR points with the CSP?  Would the spend on those cards help you to earn rewards via UR faster?

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@Anonymous wrote:

Applying in late Oct/early Nov, would these INQs in April-May result in a likely decline from Chase?

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Impossible to say.  It's not simply a matter of number of inquiries.  It's number of inquiries for your credit profile.  As stated above, those denied with inquiries cited as a reason have other bigger concerns with their profile.

[red259]

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@Anonymous wrote:
There is also some question as to whether store cards count against the 5 new accounts limit. I was just approved for the Freedom card last week. I had 6 new accounts within the last 13 months, but 3 of them were store cards. I was preapproved and got instant approval.

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Not sure how they are counting store cards, but it would not be suprising if Chase put store cards in a different category since people mainly use store cards for the specific store and therefore they are not really competition for chase cards.