10-23-2012 05:01 AM - edited 10-23-2012 05:15 AM
Thanks for the advice guys. IF SOMEONE has a number or name other than the main recon number listed on the backdoor thread a PM would greatly be appreciated. The CSP is the last and final card that will finish off my lineup so I do really want it. Thus I'm willing to devote a decent amount of time to securing an approval.
10-23-2012 08:26 AM
10-23-2012 09:00 AM
20 inqs is a lot, but as long as a significant portion is over 1 year ago thats usually not a big deal, especiallyy if you can explain that many were from auto shopping(if thats true). One thing to consider also is total exposure limit. if you get a CSP, thats at least 5000 more, theyre already giving you 11000. they may not want to give you 16000 right now. In that case, you could try moving over 1K or 2K from the JPMS and see if you can get it.
10-23-2012 09:25 AM
One way you can help get a CSP is if you have an checking / savings with Chase, I've been told many times by my bank manager clients (i have 5 Chase managers) that if you have over $10,000 in their accounts it really improves your chances. My dad has an account with Chase Ink for his business for 12 years and with a 666 Fico got approved for a CSP. Which normally takes 720+ to do.
10-23-2012 11:54 AM
I got my CSP on one recon with a 664 EX FICO and nine inquiries in the last six months.
They cited inquiries, high balances, and short history for me. I explained that four out of the nine inquiries were auto loan shopping and two were Chase and that the balances were all paid off. The representative and I chatted about the trip to Europe that my wife and I are planning and how I'd like to have a travel card with no Forex fees. I also have personal and business accounts with Chase that see an average of $7-8k through them every month. The balance is usually around $5k.
I'm not sure if you'll be able to explain the inquiries away like I did, but if you have a reasonable justification for your application you may be able to convince them. I really don't know what that justification would be, given that you have the Select and it has all of the perks of the CSP except the UR points. Telling them you want to earn more points usually doesn't work.
10-23-2012 12:04 PM
CreditScholar wrote:You really should wait until those INQs wear off. 20 is way too high and I don't think they'll budge on that.
Pulled eq&exp for me. Took me two recons to get approved for a $5k Chase Freedom :-) 20+ inqs is a heck of a lot :-/
+1.. I got declined for my amazon card, they cited inqs... the good news for me is that they were ALL mortgage related. I hadn't applied for a credit card in over 2 years when I had apped for my chase amazon card, and then applied for zync right after that
10-23-2012 01:27 PM
10-23-2012 01:48 PM
See, most of my inquiries were from applying prematurely for cards I didn't yet qualify for. Having just hit 600's I got excited and went apping for a lot of GE/store/gas cards thinking 'how hard could it be?'. Also then getting excited again when I hit 650 and apping for BoA/Citi cards. The success stories for Zync (RIP) were encouraging enough to make me app once a month for the past year to no avail (AMEX hates me). Asking for CLIs without knowing about HP's were brutal too. Not to mention apping for Cap1 cards when I already had 2 was a mistake. All these rebuilding-related HP's are what brought me to the 20 inquiries that I now stand at. STILL though, I had 18 of them on here when I was approved for the JP Morgan Select - but I swear that was a fluke.
We all have our 'one lucky break' in the credit game. It's that situation of pure luck where you obtain something that common wisdom tells you that you've got no business having, yet you got it anyways. Whether it's the guy who got the $10k initial CL from Discover recently,
Tanner with his alleged Centurion & Palladium, the Cap1 $10k CLI guy, or the guy with the AMEX Platinum 1 yr post-BK. We all got a story.
10-23-2012 01:52 PM
I don't have a story =( Although my credit was 400's last year =x Now I have CL little over 50k including AU. Last month was 10k , and a personal of $3,900 =x
10-23-2012 03:24 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.