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New Member
Posts: 11
Registered: ‎04-19-2013
0

Chances on CSP?

Hi, I've been reading the forums for awhile and I've finally decided to make my first post to ask for some tips!

I'm 21 years old, a college student, CK score is 740. I'm fairly new to credit, only getting my first credit card close to two years ago. I've always paid on time, kept my utilization under 20%, and atm I have 3 total hard inquiries. The cards I have so far are listed below:

 

Discover More Student: $1500 CL
Citi Dividend: $5800 CL
Chase Freedom: $500 CL (want an increase but it'd require a HP)

AMEX BCP: $2000 CL (opened last month)

 

I was wondering what are the odds of me getting approved for the CSP? Or when or how I should go about it? Any help or tips would be greatly appreciated. Thanks!

Valued Contributor
Posts: 1,551
Registered: ‎11-10-2012
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Re: Chances on CSP?

[ Edited ]

SchickHydro wrote:

Hi, I've been reading the forums for awhile and I've finally decided to make my first post to ask for some tips!

I'm 21 years old, a college student, CK score is 740. I'm fairly new to credit, only getting my first credit card close to two years ago. I've always paid on time, kept my utilization under 20%, and atm I have 3 total hard inquiries. The cards I have so far are listed below:

 

Discover More Student: $1500 CL
Citi Dividend: $5800 CL
Chase Freedom: $500 CL (want an increase but it'd require a HP)

AMEX BCP: $2000 CL (opened last month)

 

I was wondering what are the odds of me getting approved for the CSP? Or when or how I should go about it? Any help or tips would be greatly appreciated. Thanks!


CK is not a true FICO score, however, AFAIK, a 720+ FICO score and 1 year's experience with a $5k limit is generally what is stated here on myFICO. Your AAoA may be low, however. I'm sure someone with more knowledge will give some input for you. Good luck.

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Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: Chances on CSP?

what is your income approx around? 

one concern that might affect u is that if your income is low, Chase might feel that you already have sufficient CL compared to what you make.

And if you have part time income, they might not regard it as a "permanent" job either.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Valued Member
Posts: 62
Registered: ‎03-05-2013
0

Re: Chances on CSP?


SchickHydro wrote:

Hi, I've been reading the forums for awhile and I've finally decided to make my first post to ask for some tips!

I'm 21 years old, a college student, CK score is 740. I'm fairly new to credit, only getting my first credit card close to two years ago. I've always paid on time, kept my utilization under 20%, and atm I have 3 total hard inquiries. The cards I have so far are listed below:

 

Discover More Student: $1500 CL
Citi Dividend: $5800 CL
Chase Freedom: $500 CL (want an increase but it'd require a HP)

AMEX BCP: $2000 CL (opened last month)

 

I was wondering what are the odds of me getting approved for the CSP? Or when or how I should go about it? Any help or tips would be greatly appreciated. Thanks!


Need some more info:

- What is your Income

- Exact AAoA

- How long did you had your highest CL card

- Inquiriesin in last 2 year and last 1 year

 

Also, bringing down utilization to less than < 10% will greatly help

New Member
Posts: 11
Registered: ‎04-19-2013
0

Re: Chances on CSP?

I work part time while in school and make about $20k a year, and then i get about $15k a year from my parents for things. AAoA is 1 year. oldest account is 2 years. my citi dividend with the $5800 limit ive had the longest, for two years and they just recently a few weeks ago increased me from $1800 to the current $5800. I've had 3 inquiries in the last two years and 1 in the last year. I can easily bring down my utilzation to <10%, just recently made some large purchases that i can pay off anytime.

 

i feel like since i just got the amex BCP last month i should at least wait a bit before applying but whatre my chances and how long? 

 

Thanks again!

Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
0

Re: Chances on CSP?


SchickHydro wrote:

Hi, I've been reading the forums for awhile and I've finally decided to make my first post to ask for some tips!

I'm 21 years old, a college student, CK score is 740. I'm fairly new to credit, only getting my first credit card close to two years ago. I've always paid on time, kept my utilization under 20%, and atm I have 3 total hard inquiries. The cards I have so far are listed below:

 

Discover More Student: $1500 CL
Citi Dividend: $5800 CL
Chase Freedom: $500 CL (want an increase but it'd require a HP)

AMEX BCP: $2000 CL (opened last month)

 

I was wondering what are the odds of me getting approved for the CSP? Or when or how I should go about it? Any help or tips would be greatly appreciated. Thanks!


Welcome to the forums!!!

 

Can you list your income and the age of each CC you have please??




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
0

Re: Chances on CSP?


SchickHydro wrote:

I work part time while in school and make about $20k a year, and then i get about $15k a year from my parents for things. AAoA is 1 year. oldest account is 2 years. my citi dividend with the $5800 limit ive had the longest, for two years and they just recently a few weeks ago increased me from $1800 to the current $5800. I've had 3 inquiries in the last two years and 1 in the last year. I can easily bring down my utilzation to <10%, just recently made some large purchases that i can pay off anytime.

 

i feel like since i just got the amex BCP last month i should at least wait a bit before applying but whatre my chances and how long? 

 

Thanks again!


Just seen this post.

 

I think your a very borderline approval. Income is going to play a big part in their decision. They may pull 2 or all 3 bureaus for approval.

 

Good luck to you if you decide to pull the trigger!!!




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
New Member
Posts: 11
Registered: ‎04-19-2013
0

Re: Chances on CSP?

Thank you! I've been stalking and learned a lot from just browsing around!

Part time job is about 20k a year. and i get about 15k a year from my parents (idk if that counts)

 

discover: 2 years

citi dividend student: 2 years

chase freedom: 1 year

AMEX BCP: a month

Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: Chances on CSP?

CSP is a great card and you might be approved. My question is do you need that card? Travel, hotel, dining are the real reasons for obtaining the CSP IMO
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
0

Re: Chances on CSP?


SchickHydro wrote:

Thank you! I've been stalking and learned a lot from just browsing around!

Part time job is about 20k a year. and i get about 15k a year from my parents (idk if that counts)

 

discover: 2 years

citi dividend student: 2 years

chase freedom: 1 year

AMEX BCP: a month


You could list your income as 35K an if they ask any further on it explain the situation but that might not be sufficent if they ask.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
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