Credit Cards

[saggy1]

I got denied for the sapphire preferred. Got the the letter in the mail today. Also got my new amex gold in the mail today lol. I applied and got approved for the Discover IT card yesterday, so I am doing ok I guess.

They denied me for having:

Too few credit cards open

Credit limit too low on that card ($1000)

One delinquent account

The DQ was probably my bofa visa. In 08 I lost my job had my card pretty much maxed and missed a few payments. Well I still have the card and have everything paid off. Matter of fact I just got a cli to $3000. So bofa obviously thinks ok of me now. So the CL being too low should not be a problem anymore? I also have the Discover and two amex charge cards now.

Do you think I have a chance for a recon? I want this card for my primary visa as my current one has no benefits.

THX

[iMacDrew]

to be able to get the card you have to qualify for a 5,000 minimum cl. since its a visa signature. 3000 is still 2,000 lower than their minimum..

[cmthomas06]

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iMacDrew wrote:

to be able to get the card you have to qualify for a 5,000 minimum cl. since its a visa signature. 3000 is still 2,000 lower than their minimum..

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I was wondering about applying for the CSP as well (next year that is). Whats the income needed to get a $5000 limit? Mine are all pretty much $1000-$2000. 

[improvingmycredit]

Hey Saggy1!  Chase pretty much requires experience with CL of 5K before they'll offer their Sig products.  Garden and try building current limits to 5K or get with a CU that will put you over the threshold over the next year.  Good luck!

[trumpet-205]

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cmthomas06 wrote:

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iMacDrew wrote:

to be able to get the card you have to qualify for a 5,000 minimum cl. since its a visa signature. 3000 is still 2,000 lower than their minimum..

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I was wondering about applying for the CSP as well (next year that is). Whats the income needed to get a $5000 limit? Mine are all pretty much $1000-$2000. 

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Income is not too big of a problem. Chase would love to see you have some experience with $5K CL before issuing CSP.

[Crashem]

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trumpet-205 wrote:

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cmthomas06 wrote:

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iMacDrew wrote:

to be able to get the card you have to qualify for a 5,000 minimum cl. since its a visa signature. 3000 is still 2,000 lower than their minimum..

---

I was wondering about applying for the CSP as well (next year that is). Whats the income needed to get a $5000 limit? Mine are all pretty much $1000-$2000. 

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Income is not too big of a problem. Chase would love to see you have some experience with $5K CL before issuing CSP.

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+1.  Chase doesn't want to be the first to grant you 5k limit.  However if you have a few cards close to 5k limit, they might be first to cross that threshold.

[praise123]

Not necessarily true. I had a BofA secured card in March for $500, then I got a credit one unsecured in June for 1,000. Then I got an offer in the mail for the Chase Marriott Visa and was approved for $5,000. I had baddies in the past not on credit cards but student loan and 30 day late on car. I was curious about why Chase gave me $5,000 so I called and was told because of my combined income of $160,000 me and my husband salary together even though he didn't apply

[jm00ser]

I agree with the above posters regarding Chase not wanting to be the first creditor to grant you a large CL. I started at 3800 with Freedom a year or so back, and was satisfied being that my income is about 43k and I had a rash of INQ thanks to a rash and uneducated car buying experience...

Needless to say, in this 1 year period, I managed to CLI my Citi up to 7.7k, get my scores up, and was approved for 10.7k by Chase for SW RR Premier. I know its not the CSP, but I would suppose that CL worthiness works the same. Same income at time of app as well.

[cmthomas06]

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trumpet-205 wrote:

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cmthomas06 wrote:

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iMacDrew wrote:

to be able to get the card you have to qualify for a 5,000 minimum cl. since its a visa signature. 3000 is still 2,000 lower than their minimum..

---

I was wondering about applying for the CSP as well (next year that is). Whats the income needed to get a $5000 limit? Mine are all pretty much $1000-$2000. 

---

Income is not too big of a problem. Chase would love to see you have some experience with $5K CL before issuing CSP.

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+1 

I agree that I need to prove myself with large limits first. I was just wondering because I am currently a college student making ~16,000 a year. I dont expect to get that high; however, when I graduate it should be feasible. 

[seoul12]

Hi I don't have a good credit score. My biggest CL is with Macy's $1000. Cap One at $750.

I have been denied for the Paypal MC and another Cap 1 application recently.

Still today I got approved for the regular Chase Sapphire with $5k limit. I am so happy!

Last week I got an Amex gold charge card. I realize that is easier to get. I was FR'd

during the Amex application process. I complied. I have a spending limit of $6k.

Just thought I'd share. I am new here and really enjoy this forum. I am rebuilding credit.