Chase Banking Relationship affecting CC approval

[takeshi74]

With 4 months of credit history, an AAoA of 3 months (these numbers don't seem to jive) and 3 new accounts I'd guess slim at best.

[Anonymous]

I dont know why it didnt show my full siggy. But this is it:

CK Score: 735
AAoA: 3mo
7% Utilization. PIF monthly
AmEx Green... NPSL (High Balance $4500)
BoA 123 Cash Rewards Secured...$2500
Citi ThankYou Preferred...$1000
Wells Fargo Platinum Secured...$1000
Cap1 QuicksilverOne Cash Rewards...$500
Cap1 Platinum...$500

Another rhing i should note, I apped for a Chase Amazon card in July - my first app ever - and was denied due to no history. However, I called EO, and talked to a very nice woman who asked me to try again in 3-6 months after I get a TL, and she would help me. I have her number and extension saved still.

[Creditaddict]

this was talked about at extreme length in your other post.

I think you should wait 3 months and get a fico score before applying.

[Anonymous]

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@Creditaddict wrote:

this was talked about at extreme length in your other post.

I think you should wait 3 months and get a fico score before applying.

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3 Months? I'd let those accounts age and wait a year.

The CSP isn't going anywhere.

[Hockeyplayrr]

I'd wait and then go for the Ritz.  Not sure if it is a myth or not but I've heard its easier to get a cobranded card.

[hemi961]

If you want to get a preliminary idea, go to the Chase pre-qualified site and see what they offer you. The CSP has an APR based on the prime rate while the Freedom has several APRs based on your credit worthiness. Since the Sapphire Preferred only offers one interest rate, they may not approve one as readily as they would a card that allows them to charge a higher rate.  I would see what offers you get and then if you get an offer for the Freedom, click the pricing and terms link and see what interest rate they are offering. If it is 22.99% then I would wait to apply for the Sapphire. If Sapphire shows up on the offer I would apply.

This is not a proven method but only my opinion. However, their pre-qualifications seem pretty accurate and I have never been denied when I have chosen an offer. 

[rlx01]

CSP is minimum 12 months of history.

No idea about Ritz. It's cobrand so usually a bit more flexible.

[jamesdwi]

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@Anonymous wrote:

Hello all,

I asked a similar question before, and I'm hoping to get some clearer answers.

I have a limited credit history - started in July when I turned 18. I have several TLs that are all in good standing, PIF monthly and only 2 cards report balances. always <10%. I plan on apping for a Chase card soon. I have a Bank account with them. about 10k balance. I'm looking at the Ritz or CSP cards. I'm aware of the annual fees for both and am perfectly okay with both. I would prefer the Ritz card cause I'm a frequent traveler. What are the odds of me getting either of these cards in the next month or two?

Thanks

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in general Chase requires 6 months to a year of history for their lower tier cards, Freedom, Slate, Amazon. They want more if history for the CSP and possibly the Ritz card in that they are signature cards and have a minimum starting limit of 5k, and can be potentailly used to charge over their limit with the agreement that anything over the CL is due and payable on the next statement. Its pretty unlikely you will get a CSP card before you have a year of solid history.  

If you need the flexilility of a signature card and rewards for travel, I would wait to January and apply for a AMEX PRG, and get a year of back dating goodness, which my give you enough history to get approved for a CSP if they don't do a manual review of your report. The PRG also gives you 2% rewards on travel.  But is also a Charge card but the AF is waived for the first year.

[Anonymous]

I think that you may really just need to wait, and apply in a few months to a year.

I was denied for a regular Chase Sapphire card due to limited history. Keep in mind, I am not too much older than you (only 21!). My AAoA was 3 years & 3 months at the time. I had 3 hard pulls, and had just recently opened up 2 other accounts before applying. If that gives you any idea. 

Also, not sure if this is true or not, but I believe the lowest limit for the CSP is $5000, and it seems that most of your credit cards are currently on the lower side (which is expected given your age).

Not sure if this helped you out any or not, but I would seriously wait.

[Anonymous]

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@Anonymous wrote:

I think that you may really just need to wait, and apply in a few months to a year.

I was denied for a regular Chase Sapphire card due to limited history. Keep in mind, I am not too much older than you (only 21!). My AAoA was 3 years & 3 months at the time. I had 3 hard pulls, and had just recently opened up 2 other accounts before applying. If that gives you any idea. 

Also, not sure if this is true or not, but I believe the lowest limit for the CSP is $5000, and it seems that most of your credit cards are currently on the lower side (which is expected given your age).

Not sure if this helped you out any or not, but I would seriously wait.

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Another interesting situation here.

I had 11 HP's on my EX when I got the CSP, 3yrs 3mos AAoA (same as you), 2 CO's still showing from early 2008, and had opened 4 accounts in 45 days prior to app. Instapproved for $5,000..

I'd be checking my EX FICO if I were you and see if there isn't something amiss here.