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Community Leader
Senior Contributor
Posts: 27,292
Registered: ‎02-07-2013
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Re: Recon CSP


Omnipotent wrote:
Not so much the limits on your other cards but more like the history with your cards. I would have waited for that CLI on the Amex and then went for it after it reported. Think that would have done it

IMHO 

Chase didn't see enough history with them yet.

You have only had a chase card for 2 months and possibly 1 of those months it didn't report to CR.

Thus maybe 1 statement cut 2 at the most...not enough time for a picky lender like chase

You need to wait at least 6 months and try again

+ Chase ink =




Regular Contributor
Posts: 163
Registered: ‎06-22-2013
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Re: Recon CSP

What was your income?

Frequent Contributor
Posts: 254
Registered: ‎12-29-2012
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Re: Recon CSP

If you have a clean report, build 6 months of credit history with chase. If you have many inquiries, let them age before applying. Make sure to use the chase card heavily even if it only has a $500 limit.

Remember, the 5k limit requirement has been proven to be false approval after approval.

If you don't have a clean report, your results will probably vary.
Cards: CSP 6k, Chase Freedom 6k, BCP 7.5k, Sallie Mae 8.9k, Discover 5k, BOFA Better Rewards 3.8k
Valued Contributor
Posts: 3,470
Registered: ‎06-05-2013
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Re: Recon CSP


matopek wrote:

Just apped for the Chase Sapphire Preferred card for the benefits/points bonus. I got the "Application under review, check back in two weeks" message and tried the automated status line. No information on there either, so I called up the recon line for app status. Person on phone said application was denied (after putting me on hold for about a minute), and cited the reasons (Too many inquiries, 1 new card from Chase over a month ago, two other new cards, debt ratio because of student loan (although she said payments were deferred on that...implying that maybe that is fine)).

 

Card portfolio:

 

Chase Freedom- $2.5K Opened April 13

Amex Blue - $2K Opened April 13

Discover - $750 Opened Nov 12

Cap One - $500 Opened May 12

Barclays - $250 Opened April 13

BOA - $700 - Opened May 13

 

I know CSP requires line of $5K. I was thinking that I am due for an Amex 3x CLI in a few weeks, and may bump that up to 6K limit. Also got a recent auto CLI from Discover. Also, no bad things on report, spotless payment history.

 

Is it worth calling the recon line again for a second time? I kind of only called the first time to seek application status, and wrote down denial reasons. The person on the phone seemed rather rushed so I figured I'd wait to recon. I figured I already took the HP for this application.


Give it six months with your Chase Freedom so they can get to know you. PIF heavy use. Get your CLI on Amex and any other cards where it can be done with a SP. If Amex puts you over 5k then you should be in good shape depending on your CS. I was denied for CSP because of lack of revolvers, so I got a 3k Freedom and 5k venture. After six months I am hoping to go back and get the CSP, although I am anticipating having to recon to do so. Your problem is low CLs, but that should change if you get bumped up by Amex. 


Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 730 6/27/14, Last App 6/7/15
Goal Score: 800 In garden until 7/2015
Regular Contributor
Posts: 236
Registered: ‎01-02-2010
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Re: Recon CSP

the same thing happen to me but look like you took too long to call them if i was you i would call them up few more time.

Valued Member
Posts: 77
Registered: ‎06-05-2013
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Re: Recon CSP

I would recon at least 3 times, see if you can see a pattern on what the reps are telling you and maybe you can fine a way to convince them other wise! But like others have said your probably gonna have to wait for your cards to age.
AMEX BCE - $27,000 ~ Chase Sapphire Preferred VISA SIGNATURE- $24,000~ AMEX Platinum -$NPSL ~ Citi Diamond Preferred $10,000
USAA MASTERCARD - $10,000 Commerce Bank Visa $8,000~
USAA Student VISA - $1,000 ~ Chase Freedom - $500
Established Contributor
Posts: 554
Registered: ‎09-28-2012
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Re: Recon CSP

In my opinion you have to many new accounts. you need to let those age at least 6-12 months.



TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!


Moderator Emeritus
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Registered: ‎12-30-2011
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Re: Recon CSP


Laugh wrote:
If you have a clean report, build 6 months of credit history with chase. If you have many inquiries, let them age before applying. Make sure to use the chase card heavily even if it only has a $500 limit.

Remember, the 5k limit requirement has been proven to be false approval after approval.

If you don't have a clean report, your results will probably vary.

While I absolutely agree with you, there's incredibly few individual things from an underwriting perspective that are either automatic approval or outright rejection worthy.

 

Underwriting decisions are based on a collection of datapoints for risk analysis, and while we've had some anecdotal reports of CSP approvals that appeared to be more head-scratching than even my Amex approvals to me, I think it's reasonable to say that having a tradeline greater than 5K helps to some extent.

 

That said, virtually anything can be reconned sucessfully with Chase; however, a slew of recent accounts including the Freedom aka Chase starter card, is a difficult walk with what amounts to 1.25 years history to a CSP.  I'd probably try my luck once more without expecting anything... though assuming the credit market stays similar through this time next year, I'll certainly be reconning my own CSP decision if I get denied, and probably twice at that as well.

 

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)


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Valued Member
Posts: 37
Registered: ‎04-05-2013
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Re: Recon CSP

i got approved after having my freedom for three weeks, and with no other cards with a 5k limit.

csp is my first 5k limit...every case is deifferent 

transamerica financial adviser, director of expansion.
Member
Posts: 9
Registered: ‎05-22-2013
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Re: Recon CSP


oztsvi wrote:

i got approved after having my freedom for three weeks, and with no other cards with a 5k limit.

csp is my first 5k limit...every case is deifferent 


If you don't mind, what AAoA did you have when you applied for it?

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