Need advice on 5 month plan

snowkitty · ‎09-09-2013

I am trying to get my ducks in a row for my credit plan over the next 5 months. I have my sights set on apping for the csp in Jan. or Feb. of next year. I'm now at alittle over 70k in available credit and my income is only 62k. So is there a chance csp will deny me for too much credit? Should I plan on closing some cards before applying? Should I not ask for anymore cli's? Please help me with a game plan.....thanks!!

*Sorry for any mistakes.....I'm on my cell

honky · ‎09-09-2013

Looks like they'd approve you if you've had the Freedom for a while. Chase isn't over extending themselves with you and you already have 4 cards over 5k. As long as your credit history and # of inquiries are in line..you would likely be approved as-is.

Starting Score: 580 2/03/12
Current Score: 810 EQ // 829 TU(Walmart)
Goal Score: Achieved!

Wallet: Citi Forward(13.5k), Ink plus(18k), CSP(13.5k), Freedom(6k), BoA123(13k), Alliant CU(5k), Walmart(2k), Kohls(1.4k), QuickSIlver(7.5k) Amex Simplycash Business(46.5k)

TheConductor · ‎09-09-2013

Your use of the credit available to you is as important as the raw amount. If you are keeping utilization low, maintaining a perfect payment history, and not maxing out any of your balances, I think you'd have a good shot at the CSP with your present scores and income.

If, however, most of those cards have a maximum reported balance at or near the limit, or you are carrying utilization over 10%, I'd be more dubious of your chances.

I would recommend waiting on any new CLIs, though, until you submit the CSP app.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12), Total CL $1k on 2 TLs
Current: EQ 709 (CCT 2/4/15), EX 704 (CCT 2/4/15) , TU 702 (CCT 2/4/15), Total CL $110.3k on 14 TLs Goal: 740+ x3
My Wallet: Amex BCP $30k, Chase United Explorer $16k, Amex SPG $13.5k, Barclaycard Ring MC $12.5k, Chase CSP VS $12.2k, Discover it $10.5k, C1 Venture VS $6.5k, Chase Slate $3.5k, Amex Hilton Surpass $2k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Citi BestBuy $500
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snowkitty · ‎09-09-2013

I have two cards with Chase....the Bp gas card and the Freedom. Both will be a year old in November. I thought it would be good to wait until they were at least a year old. My utility hangs at around 9% right now and will be around 5% by January. I took some 0% interest deals on two cards which is why I am running balances.

So, the amount of credit you have available to you is not as important as how much you are using? I thought it all counted against you because it was all available to you. I just remember my parents telling me that years ago when I was a child. I guess times have changed.

So when I do app, will they likely ask me why I need more credit? If so, what should I say? I just want a better card and I really like Chase.

myjourney · ‎09-09-2013

@snowkitty wrote:
I am trying to get my ducks in a row for my credit plan over the next 5 months. I have my sights set on apping for the csp in Jan. or Feb. of next year. I'm now at alittle over 70k in available credit and my income is only 62k. So is there a chance csp will deny me for too much credit? Should I plan on closing some cards before applying? Should I not ask for anymore cli's? Please help me with a game plan.....thanks!!

*Sorry for any mistakes.....I'm on my cell

Hi ya Snowkitty

IMHO you should be ok

You have great cards,limits and history on your side

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?

snowkitty · ‎09-09-2013

@myjourney wrote:
@snowkitty wrote:
I am trying to get my ducks in a row for my credit plan over the next 5 months. I have my sights set on apping for the csp in Jan. or Feb. of next year. I'm now at alittle over 70k in available credit and my income is only 62k. So is there a chance csp will deny me for too much credit? Should I plan on closing some cards before applying? Should I not ask for anymore cli's? Please help me with a game plan.....thanks!!

*Sorry for any mistakes.....I'm on my cell
Hi ya Snowkitty
IMHO you should be ok
You have great cards,limits and history on your side

Hi!

Thanks! So basically I am fine with just not asking for anymore cli's or opening any new accounts. Let alittle more time under my belt and no need to really close any cards to make my available credit less? I'm amazed that last year I started out with a 99/500 card from boa and now I have over 70k in credit! It's amazing and scary! When I started thinking about it, I thougt "Oh no, now I have too much" *lol* Chase has always asked hard questions when I have called and I want to be prepared...lol I really want an instant approval with them since I had to beg and plead for the freedom and bp!

myjourney · ‎09-09-2013

@snowkitty wrote:
@myjourney wrote:
@snowkitty wrote:
I am trying to get my ducks in a row for my credit plan over the next 5 months. I have my sights set on apping for the csp in Jan. or Feb. of next year. I'm now at alittle over 70k in available credit and my income is only 62k. So is there a chance csp will deny me for too much credit? Should I plan on closing some cards before applying? Should I not ask for anymore cli's? Please help me with a game plan.....thanks!!

*Sorry for any mistakes.....I'm on my cell
Hi ya Snowkitty
IMHO you should be ok
You have great cards,limits and history on your side
Hi!

Thanks! So basically I am fine with just not asking for anymore cli's or opening any new accounts. Let alittle more time under my belt and no need to really close any cards to make my available credit less? I'm amazed that last year I started out with a 99/500 card from boa and now I have over 70k in credit! It's amazing and scary! When I started thinking about it, I thougt "Oh no, now I have too much" *lol* Chase has always asked hard questions when I have called and I want to be prepared...lol I really want an instant approval with them since I had to beg and plead for the freedom and bp!

IMHO I think all you need is the time between apps and your last was 6/28 everything else looks fine to me

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?

snowkitty · ‎09-09-2013

@myjourney wrote:
@snowkitty wrote:
@myjourney wrote:
@snowkitty wrote:
I am trying to get my ducks in a row for my credit plan over the next 5 months. I have my sights set on apping for the csp in Jan. or Feb. of next year. I'm now at alittle over 70k in available credit and my income is only 62k. So is there a chance csp will deny me for too much credit? Should I plan on closing some cards before applying? Should I not ask for anymore cli's? Please help me with a game plan.....thanks!!

*Sorry for any mistakes.....I'm on my cell
Hi ya Snowkitty
IMHO you should be ok
You have great cards,limits and history on your side
Hi!

Thanks! So basically I am fine with just not asking for anymore cli's or opening any new accounts. Let alittle more time under my belt and no need to really close any cards to make my available credit less? I'm amazed that last year I started out with a 99/500 card from boa and now I have over 70k in credit! It's amazing and scary! When I started thinking about it, I thougt "Oh no, now I have too much" *lol* Chase has always asked hard questions when I have called and I want to be prepared...lol I really want an instant approval with them since I had to beg and plead for the freedom and bp!
IMHO I think all you need is the time between apps and your last was 6/28 everything else looks fine to me

Ok...my plan is to app at the end of January so both my Amex cards will be a year old. All my other accounts are turning a year old now. That will also give me 7 months since my last app. Hopefully that will be good enough for them. Thanks!!

myjourney · ‎09-09-2013

@snowkitty wrote:
@myjourney wrote:
@snowkitty wrote:
@myjourney wrote:
@snowkitty wrote:
I am trying to get my ducks in a row for my credit plan over the next 5 months. I have my sights set on apping for the csp in Jan. or Feb. of next year. I'm now at alittle over 70k in available credit and my income is only 62k. So is there a chance csp will deny me for too much credit? Should I plan on closing some cards before applying? Should I not ask for anymore cli's? Please help me with a game plan.....thanks!!

*Sorry for any mistakes.....I'm on my cell
Hi ya Snowkitty
IMHO you should be ok
You have great cards,limits and history on your side
Hi!

Thanks! So basically I am fine with just not asking for anymore cli's or opening any new accounts. Let alittle more time under my belt and no need to really close any cards to make my available credit less? I'm amazed that last year I started out with a 99/500 card from boa and now I have over 70k in credit! It's amazing and scary! When I started thinking about it, I thougt "Oh no, now I have too much" *lol* Chase has always asked hard questions when I have called and I want to be prepared...lol I really want an instant approval with them since I had to beg and plead for the freedom and bp!
IMHO I think all you need is the time between apps and your last was 6/28 everything else looks fine to me
Ok...my plan is to app at the end of January so both my Amex cards will be a year old. All my other accounts are turning a year old now. That will also give me 7 months since my last app. Hopefully that will be good enough for them. Thanks!!

Good luck you know I'll be pulling for you

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?

09Lexie · ‎09-09-2013

I concur. By the time you want to app you would have given them more than enough time to age. I wouldn't worry about having too much credit either.

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