Credit Card Center Advertiser Disclosure†
02-27-2013 08:23 PM
Honestly if you're only making $25k a year you have 0 chance of getting a CSP. The minimum starting credit for that card is $5,000. At that income level you maybe have $3,000 of disposable income a year assuming you're single and have no debt. Just get the most basic rewards card out there and build your credit until your income is higher. Credit card reward skills are really only needed for serious spenders. Get some basic, possibly a low intro APR card. For you I would personally recommend getting a Discover IT card. Another one you may want to consider is the Chase Amazon Visa since it is easy to get and you can build a reputation with Chase in order to apply for the CSP down the road.
3,000 in disposable income a year? where are you getting that number from? when I was making 25k a year I was spending almost 12k a year on my debit card, I feel like with 25k a year income you're annual spend could be well over 10k a year especially if you're putting a lot of your utilities as well as other house hold spends on a credit card and you don't have a huge rent/housing/car payments
02-27-2013 10:46 PM
I guess I assumed they would be attempting to save some money...I forget some people like to spend every dime they earn.
02-28-2013 12:09 AM
I'll agree with the others and say you have 0 chance of being approved.
1. Your current score is too low. Realistically you should be around 700 for a good chance of approval. Yes there have been others who were slightly under, but they also don't have your negative history with Chase.
2. Your existing CLs are way too low.
3. Your income is way too low to even consider a card with an AF. This isn't just about the CSP but in general. You simply won't be able to spend enough (because you don't earn enough) to offset the AF. Rewards cards are tilted towards heavy spenders, some moreso than others. With an income of only 25k, you should look into a 0 AF cashback card.
Forget about whether or not you'll be approved. With an income that low, you simply won't be able to spend enough to get any value out of it.
09-15-2013 03:47 PM
I got a Chase Freedom a couple of months ago, but only a $500 limit. I also got a Discover card with $2000 limit. My income is now $40,000 (changed jobs).
I was going to continue to spend and pay off these cards and build a positive history. However, I was in the market for a new car and was able to get financed through Chase.
My question is, with the freedom card, the increase in income and now a high credit limit through Chase for the new car, am I better positioned for the CSP?
09-15-2013 03:53 PM - edited 09-15-2013 04:29 PM
09-15-2013 03:57 PM
09-15-2013 04:28 PM
09-15-2013 04:29 PM
The CSP has a minumum credit limit of $5k?
Ah never knew that. How about on the regular Chase Sapphire?