06-27-2013 12:27 PM - edited 06-27-2013 12:31 PM
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)).
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.
06-27-2013 12:40 PM
The CSP is one of their top tier cards, and the generally like to to see the 5 k limit before they grant the card. I have seen it where someone got approved without it but they had great income like 70,000+ and had a good amount of low limit cards. From your profile it seems they want you to build some payment history with Chase with that Freedom before they give you more credit on another card.. Let the accounts age, and then after you AMEX CLI reports you can try again but its a 50/50 shot. Always can recon again with a different rep since you did already take the HP and it can't hurt to try again!
06-27-2013 12:40 PM
06-27-2013 12:45 PM
06-27-2013 12:49 PM - edited 06-27-2013 12:50 PM
06-27-2013 01:19 PM
06-27-2013 01:38 PM
06-27-2013 01:59 PM
06-27-2013 02:01 PM
Jae, it really isn't hard to get the CSP. Manage your finances well, and let time do the rest. That's all there is to getting most of the credit cards out there. The only exceptions are those really hard to get cards such as the centurion, palladium, etc because there's a minimum asset / spend requirement.
I agree with enharu.... before I got my first chase card, I thought that CSP is only for people with really high income.... but after reading so much success stories on this forum, I think it's just another credit card that almost anyone of us can get.... with decent scores and ok income... and chase is also great on recons .... although I do not have this card, I do have two chase cards, freedom and slate that were both approved on recon, only 6 months apart between approvals... my freedom card that went from $500 to $1000 to $5000 in 6 months...... (cli denied but reconned from 1k to 5k w/ no hp).... I'm thinkin twice now if I want this card, other than it's metal, I do not think i have a use for it since I do not travel much.... but maybe....
06-27-2013 02:05 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.
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.