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Frequent Contributor
SwampSystems
Posts: 358
Registered: ‎06-25-2012
0

Chase CSP and Slate double-app? Buying treasury bonds with BT?

Given a $40,000 income, the score and limits in my signature, a $2,600 (0% APR) utilization on the Freedom, and no other revolving utilization, what is my likely approval/limits for the Slate and the Sapphire Preferred? And for anyone who has attempted it, what is my likelyhood at being approved for both cards on the same day?

 

Ideally I am trying to get a $5,000 CAL on the CSP and a $10,000-$12,500 CL on the Slate. If it comes down to it, I would choose the CSP over the Slate for the 40,000 point bonus. But if I can get approved for both, I have a plan to use the Slate no-fee balance transfer to get convenience checks for 80% of my limit ($8,000 - $10,000), put them into a money market deposit account, and use that to buy I-bonds. The bonds can be redemed after 12 months with a 3-months-interest penalty, and the Slate 0% APR lasts for 15 months. I could cash in the bonds at 15 months to pay off the Slate, which would leave me with one year's interest of $176 - $220. That would be less than the $400 earned from the Sapphire Preferred's bonus points, which is why I would take it over the Slate.

 

If it comes down to it, I can pay off the Freedom card before applying, which would leave 0% utilization across the board. Otherwise, I would be at 7% utilization at app time. I am not planning to attempt this until January, so hopefully these introductory offers are still available by then.

 

Has anyone been approved for 2 Chase cards in one day? Does anyone know how long the offers usually stick around? Has anyone used balance transfers like this before? Any thoughts?

Established Contributor
YahComb
Posts: 599
Registered: ‎03-10-2012
0

Re: Chase CSP and Slate double-app? Buying treasury bonds with BT?

my freedom and sapp apps were done minutes apart. I didn't get instant approved, i called recon and they told me i needed to call verification(eq wass showing a fraud alert) Was approved for both on the spot after a few identity questions. Also you can get it expited for free.

 

You have multiple accounts over 5K(i had none over 3K) and likely a pretty decent EQ/EX (unless they have some bad accounts or tons more inqs that aren't on your TU). my EQ was 695 and i have a slightly lower income than you and got approved. my utilization was like 1% though also.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Valued Member
etothejomegan
Posts: 50
Registered: ‎06-25-2011
0

Re: Chase CSP and Slate double-app? Buying treasury bonds with BT?

Don't buy fixed-income on credit. With today's rate, you can probably earn that couple of hundreds of $ back much more easily if you just kept your score high (and utilization low) and applied for some other rich sign-up bonus card.

Frequent Contributor
SwampSystems
Posts: 358
Registered: ‎06-25-2012
0

Re: Chase CSP and Slate double-app? Buying treasury bonds with BT?


etothejomegan wrote:

Don't buy fixed-income on credit. With today's rate, you can probably earn that couple of hundreds of $ back much more easily if you just kept your score high (and utilization low) and applied for some other rich sign-up bonus card.


Well like I said, I want the $400 "rich sign-up bonus" from the CSP. I'm working on a $150 bonus from my Discover More right now (spend $1,000 in Oct, Nov, and Dec for $150 cashback bonus), so that's why I'm waiting until January to start on the CSP bonus. I just got finished recently with the $100 bonus for $1,000 spent on the BCE.

 

But if I buy the treasury notes, that's interest made without any money spent. Then I can use the money I actually have to continue to get cashback and signup bonuses with other cards. Granted, I can't keep getting new cards forever, but if everything goes according to plan, a little over a year from now I will have earned the $150 Discover bonus, the $400 CSP bonus, the $100-200 in miscellaneous 1-5% cash back from my normal purchases and bills. Another $200 or so on top of that from treasury notes would add up to about $900 of tangible cash to start really investing without getting into debt all over again.

 

I've done the math on the bonds. It's a good investment, and it only hinges on successfully getting and cashing the BT checks. What I'm really searching for information on is the chances for and amounts of approvals for these cards given my current criteria.


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