Reply
New Member
ak282
Posts: 9
Registered: ‎08-08-2013
0

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

Valued Member
bmis42988
Posts: 47
Registered: ‎12-12-2011
0

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: 675 EQ: 669 EX: 670 (All fico) Garden since 07/23/13

Goal: 700+


Community Leader
Senior Contributor
myjourney
Posts: 26,317
Registered: ‎02-07-2013
0

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

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


New Member
ak282
Posts: 9
Registered: ‎08-08-2013
0

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.

Valued Member
bmis42988
Posts: 47
Registered: ‎12-12-2011
0

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: 675 EQ: 669 EX: 670 (All fico) Garden since 07/23/13

Goal: 700+


New Member
ak282
Posts: 9
Registered: ‎08-08-2013
0

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?

New Member
ak282
Posts: 9
Registered: ‎08-08-2013
0

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 :smileyhappy:

 

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?

Community Leader
Senior Contributor
myjourney
Posts: 26,317
Registered: ‎02-07-2013
0

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 :smileyhappy:

 

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 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Established Contributor
sccredit
Posts: 837
Registered: ‎09-14-2012
0

Re: Future Credit Card Choice - Possibly CSP

Congratulations!  

Unsecured Credit: Amex BCP $24,900; Chase Sapphire Preferred $24,200; Discover It $12,500; Chase Ink Cash $15,000; Chase Slate $13,500; Citi TYP $12,900; Amex SPG Biz $3,000; US Bank Platinum $8,600; DCU Visa $10,000; Logix FCU $15,000; Citi Home Depot $8,800; Lowes $5,000; Care Credit $6,000; Penfed Platinum Sig $16,000; Barclay Arrival Plus WEMC $5,000; Bank of America World Points Business Visa $8,000; US Bank PLOC Overdraft $1,500; US Bank Edge Rewards Business $10,000; PenFed PLOC $5,000

Moderator
09Lexie
Posts: 25,423
Registered: ‎09-13-2012
0

Re: Future Credit Card Choice - Possibly CSP

Congratulations! The Freedom/CSP combo is best for rewards

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+