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Future Credit Card Choice - Possibly CSP

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ak282
New Member

Future Credit Card Choice - Possibly CSP

Hello,

 

I currently have two credit cards:

1) Wells Fargo Cash Back 1% - $2400 limit - Since Dec 2010

2) Chase Slate Card - $700 limit - Since March 2013

 

I have never made a late payment, I have had high util in the past, but currently the chase is at 0 and the WF is under 10, and I have an income of $48k. I am a recent college graduate with a work history of about two years.

 

I would not like to have too many cards; preferably I would like to apply for the Chase Sapphire Preferred as it matches many of my spending habits and because I could then consolidate my Chase Slate credit limit to increase the CSP limit.

 

My questions are:

1) What are my chances of being approved for the CSP? Would I be better off requesting credit limit increases on both my cards, waiting a few months then applying?

2) Should I try to product change my chase slate card to a freedom or regular sapphire?

3) Are there any other cards out there that you would reccomend?

 

Thank You

Message 1 of 16
15 REPLIES 15
bmis42988
New Contributor

Re: Future Credit Card Choice - Possibly CSP

What does your Credit Report look like? INQ's, baddies, scores etc. My friend has a 50% util, 3 inq's at the time with a 725 score and was instantly approved for 5k.

TU: 687 EQ: 670 EX: 665
Message 2 of 16
myjourney
Super Contributor

Re: Future Credit Card Choice - Possibly CSP

Welcome to the forum

IMHO I would wait at least 6-12 months Chase likes to see history atfer a recent approval

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 16
ak282
New Member

Re: Future Credit Card Choice - Possibly CSP

I have 3 inquiries - two are tenant screenings for apartment rentals and one is from HSBC (I believe this was screening for a mortgage that I decided not to get). The last time I received my credit score was in December 2012 and it was 692 from Equifax. My WF card at the time was at about 50% util and I did not have the Chase card at the time so I would assume my credit score has increased since then.

Message 4 of 16
bmis42988
New Contributor

Re: Future Credit Card Choice - Possibly CSP

I'd have to agree with myjourney. Show chase you can be responsible with your slate and in 6-12 months apply for CSP.

TU: 687 EQ: 670 EX: 665
Message 5 of 16
ak282
New Member

Re: Future Credit Card Choice - Possibly CSP

Thank you for the welcome and the feedback! I think waiting another couple of months is definitely the step I will take.

 

Do you guys reccomend that I request a CLI on either or both of my cards?

Message 6 of 16
ak282
New Member

Re: Future Credit Card Choice - Possibly CSP

So I ended up applying for the CSP and getting approved with a 5k limit!! Called and asked for the card to be expedited, very exciting Smiley Happy

 

I was thinking of consolidating my Slate card into the CSP so I would have a combined limit of 5.7k. But if I do this will it lower my AAoA? Would you reccomend just leaving the Slate card so that my AAoA is kept higher?

Message 7 of 16
myjourney
Super Contributor

Re: Future Credit Card Choice - Possibly CSP


@ak282 wrote:

So I ended up applying for the CSP and getting approved with a 5k limit!! Called and asked for the card to be expedited, very exciting Smiley Happy

 

I was thinking of consolidating my Slate card into the CSP so I would have a combined limit of 5.7k. But if I do this will it lower my AAoA? Would you reccomend just leaving the Slate card so that my AAoA is kept higher?


 

Congrats yes yes yes 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 8 of 16
sccredit
Valued Contributor

Re: Future Credit Card Choice - Possibly CSP

Congratulations!  

Message 9 of 16
09Lexie
Moderator Emerita

Re: Future Credit Card Choice - Possibly CSP

Congratulations! The Freedom/CSP combo is best for rewards
Message 10 of 16
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