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Hi everyone! So this is sort of hypothetical, but on 7/23/14 I am planning to apply for the Chase Sapphire Preferred card and would like to know what you guys think my chances are. Here is my (suppositional) credit profile less than 1 year from now, if all goes according to plan:
Scores: 700-ish
AAOA: 3yrs 8months
Income: $36,100
Inquiries: 0 for the following 12 months on all 3 bureaus, and from the year before: EQ>7 TU>4 EX>7
Installment Loans (student loans): $29,xxx
Auto Loan: $7,xxx
All revolving accounts over 1 year old
Amex BCE: $6000 (5/13)
Discover It: $1500 (5/13)
BofA Cash Rewards: $1000 (6/13)
Barclays: $2000 (1/13)
Firestone: $900 (2/13)
1 medical collection from 2009: $77, paid (attempted GW deletion, won't budge)
100% on-time payments, and will report 1-9% utilization for score purposes.
What are my chances guys? Any more info necessary? Thank you in advance for your input!
@acb5456 wrote:Hi everyone! So this is sort of hypothetical, but on 7/23/14 I am planning to apply for the Chase Sapphire Preferred card and would like to know what you guys think my chances are. Here is my (suppositional) credit profile less than 1 year from now, if all goes according to plan:
Scores: 700-ish
AAOA: 3yrs 8months
Income: $36,100
Inquiries: 0 for the following 12 months on all 3 bureaus, and from the year before: EQ>7 TU>4 EX>7
Installment Loans (student loans): $29,xxx
Auto Loan: $7,xxx
All revolving accounts over 1 year old
Amex BCE: $6000 (5/13)
Discover It: $1500 (5/13)
BofA Cash Rewards: $1000 (6/13)
Barclays: $2000 (1/13)
Firestone: $900 (2/13)
1 medical collection from 2009: $77, paid (attempted GW deletion, won't budge)
100% on-time payments, and will report 1-9% utilization for score purposes.
What are my chances guys? Any more info necessary? Thank you in advance for your input!
IMHO
You need a little more payment history with the BCE (3 more months)
Thanks for the responses! @myjourney: so i should have more than 15 months of BCE history? Because when i apply for the CSP in July '14, i will have 15 months on the BCE. Thanks again!
@acb5456 wrote:@Anonymous for the responses! @myjourney: so i should have more than 15 months of BCE history? Because when i apply for the CSP in July '14, i will have 15 months on the BCE. Thanks again!
Your sig say you got the BCE 5/13 is that wrong? You should have at least 6 months history with a TL over 5K
@myjourney wrote:
@acb5456 wrote:@Anonymous for the responses! @myjourney: so i should have more than 15 months of BCE history? Because when i apply for the CSP in July '14, i will have 15 months on the BCE. Thanks again!
Your sig say you got the BCE 5/13 is that wrong? You should have at least 6 months history with a TL over 5K
You're right! But i'm planning on applying in July of 2014, so my credit profile above is hypothetical to what it will hopefully look like in July of 2014. So by that point, it will have 14-15 months of history by that point. Thanks!
@acb5456 wrote:
@myjourney wrote:
@acb5456 wrote:@Anonymous for the responses! @myjourney: so i should have more than 15 months of BCE history? Because when i apply for the CSP in July '14, i will have 15 months on the BCE. Thanks again!
Your sig say you got the BCE 5/13 is that wrong? You should have at least 6 months history with a TL over 5K
You're right! But i'm planning on applying in July of 2014, so my credit profile above is hypothetical to what it will hopefully look like in July of 2014. So by that point, it will have 14-15 months of history by that point. Thanks!
In that time you can get a lot of cards LOL
But 6 months of payment history will do
@09Lexie wrote:
Idk if you'll need 15 mos of history. It's really hard to speculate since we are talking about a year from now. However, based on your information if your util and inq's are low and no baddies- you should be fine.
+1
Anything can change within that timeframe and if you play your cards right (no pun intended), then it's fair to say the goal is achievable. Theoretically, if everything was a constant and not much changed other than history/scores in a positive direction (assuming no utilization spikes, AAoA hits, no derogs/late payments, etc.); and as Lexie mentioned - it's likely feasible.
So would it be possible to apply by January '14 when all my accounts are over 6 months? Also, my BCE will likely only be at the $3,000 limit so that might be a hindrance correct?