Credit Cards

[LS2982]

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amercnchopz34 wrote:

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LS2982 wrote:
What are your current credit lines?

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LS ...looks like they are in siggy

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Was posting from mobile phone could not see them

[LS2982]

I would say until you establish a 5K line for at least 6 months to a year I would leave the CSP alone.

[YahComb]

Its hard to say. Scorewise youre probably good , the low limits could hurt you though. I myself apped with my 2 highest cards at 3k and 2k and was approved with a 695 eq-I was double pulled on ex too (fewer inqs than my eq). I was also approved for a freedom I apped on the same day. I had to call for verification but no recon questions asked. Total history of 1 yr, average 7.5 mos

[LS2982]

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YahComb wrote:
Its hard to say. Scorewise youre probably good , the low limits could hurt you though. I myself apped with my 2 highest cards at 3k and 2k and was approved with a 695 eq-I was double pulled on ex too (fewer inqs than my eq). I was also approved for a freedom I apped on the same day. I had to call for verification but no recon questions asked. Total history of 1 yr, average 7.5 mos

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Thats interesting, I have the 5K lines (2) and scores will be back up to 700 range I hope in 6 months. Myabe I can get it then, probably would be better to wait a full year.

[Koop10010]

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YahComb wrote:
Its hard to say. Scorewise youre probably good , the low limits could hurt you though. I myself apped with my 2 highest cards at 3k and 2k and was approved with a 695 eq-I was double pulled on ex too (fewer inqs than my eq). I was also approved for a freedom I apped on the same day. I had to call for verification but no recon questions asked. Total history of 1 yr, average 7.5 mos

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I think sometimes people take the previous $5K line thing a little too strictly.  This is certainly not a firm requirement, as you have demonstrated.  Just because someone was told that the primary reason they weren't approved was no previous high limits doesn't make that a strict requirement for everyone, just something that helps with approval.  The 1 year of history is interesting and so is the 695 FICO.  But that just goes to show that this card isn't as hard to get as some believe it to be.  I mean, Chase has been advertising it alot lately and they offer an incredible general signup bonus, they are looking for more cardmembers.

[CreditScholar]

I got an instant approval last year. My EQ was ~800, no baddies ever, AAoA = 10 years, highest CL was 18.2k through BofA, personal income (not household) was 115k at the time. I think with your scores your odds aren't good, especially with a 70k income and no current CLs above 5k. If you work at it for a year, get your scores decently above 700 and get a higher CL on another card you'll likely be ok.

[CreditScholar]

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Koop10010 wrote:

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YahComb wrote:
Its hard to say. Scorewise youre probably good , the low limits could hurt you though. I myself apped with my 2 highest cards at 3k and 2k and was approved with a 695 eq-I was double pulled on ex too (fewer inqs than my eq). I was also approved for a freedom I apped on the same day. I had to call for verification but no recon questions asked. Total history of 1 yr, average 7.5 mos

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I think sometimes people take the previous $5K line thing a little too strictly.  This is certainly not a firm requirement, as you have demonstrated.  Just because someone was told that the primary reason they weren't approved was no previous high limits doesn't make that a strict requirement for everyone, just something that helps with approval.  The 1 year of history is interesting and so is the 695 FICO.  But that just goes to show that this card isn't as hard to get as some believe it to be.  I mean, Chase has been advertising it alot lately and they offer an incredible general signup bonus, they are looking for more cardmembers.

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+1. YMMV as always but like Amex, Chase seems to give some leeway if you have a high income (6 figures or more). The higher your income the lower a few other things can be, up to a certain point. I do think the CSP is too easy to get though. They've been lowering the standards to cash in on the interest. You can't blame them perse, but I would like to see the requirements moved to 740+. I doubt that will happen though.

[rtw]

I was just approved on 9/1. TU at the time was 679 and I had 4% overall uti. My oldest account was 13 yrs. and my AAoA was 6. One paid collection at 6 months, 1 30-day late from 3 years ago, and 1 60-day late from 2 years ago. I just recently opened (Barclays, Amex Gold, Amex, and PSECU) inJuly and all were reporting. My PSECU is 15K limit and my Citibank AAdvantage from 2008 has a 8.5K limit. It was just bumped from 5K to 8.5K(HP). I did not get an instant approval for the CSP but when I called in they only asked for app information and what limit I wanted. I asked them to match my Citibank but they still gave me 5K. I tried for the Freedom that day but was declined on recon. I do have a Chase CO from 2002. It was not mentioned when I called in about the CSP but was mentioned when I called on 2nd recon attempt for Freedom. Hope that helps!

[djrez4]

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rtw wrote:

I was just approved on 9/1. TU at the time was 679 and I had 4% overall uti. My oldest account was 13 yrs. and my AAoA was 6. One paid collection at 6 months, 1 30-day late from 3 years ago, and 1 60-day late from 2 years ago. I just recently opened (Barclays, Amex Gold, Amex, and PSECU) inJuly and all were reporting. My PSECU is 15K limit and my Citibank AAdvantage from 2008 has a 8.5K limit. It was just bumped from 5K to 8.5K(HP). I did not get an instant approval for the CSP but when I called in they only asked for app information and what limit I wanted. I asked them to match my Citibank but they still gave me 5K. I tried for the Freedom that day but was declined on recon. I do have a Chase CO from 2002. It was not mentioned when I called in about the CSP but was mentioned when I called on 2nd recon attempt for Freedom. Hope that helps!

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This raises my hopes that I'll be approved in February.