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New Member
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
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
Posts: 28,763
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

This point should be stressed more here an app spree should not be encouraged because its not for every profile
A thick file will support more apps at one time while a thin file may see negative reaction to this process

IMHO 4+ at one time is to many for a new file and it should be kept to 1-3 a year but we get caught up sometimes in seeing the little wheel spin and the words approved
New Member
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
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
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
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 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?

Community Leader
Senior Contributor
Posts: 28,763
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 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 

This point should be stressed more here an app spree should not be encouraged because its not for every profile
A thick file will support more apps at one time while a thin file may see negative reaction to this process

IMHO 4+ at one time is to many for a new file and it should be kept to 1-3 a year but we get caught up sometimes in seeing the little wheel spin and the words approved
Valued Contributor
Posts: 1,393
Registered: ‎09-14-2012
0

Re: Future Credit Card Choice - Possibly CSP

Congratulations!  

Never take credit personally

Amex Business Platinum; Amex BCP $24,900; Chase Sapphire Preferred $24,200; Chase Marriott $20,000; Discover It $15,500; Chase Ink Cash $2,600; Chase Slate $10,900; Citi TYP $12,900; Capital One Venture $15,000; Amex SPG Biz $3,000; DCU Visa $10,000; Logix FCU $15,000; Citi Home Depot $8,800; Lowes $8,000; Care Credit $6,000; Penfed Platinum Sig $5,000; Barclay Arrival Plus WEMC $15,000; Barclays Hawaiian Air Biz $20,000; US Bank PLOC Overdraft $1,500; US Bank Edge Rewards Business $10,000; PenFed PLOC $20,000

Moderator
Posts: 27,207
Registered: ‎09-13-2012
0

Re: Future Credit Card Choice - Possibly CSP

Congratulations! The Freedom/CSP combo is best for rewards

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