Should I still apply for this card?

[Anonymous]

When I was in the middle of my mortgage app, I got an online prequal from Chase for the CSP. I didn't apply for it. Now that I am done, my CSP prequal is gone, and I only see Freedom and Slate. My new mortgage hasn't posted to CR yet, and I have the same amount of CR pull on my report (I got 5+ from my mortgage). 

Knowing that Chase Prequals are pretty solid, should I wait, or should I still apply? I notice that I am also offered ~23% APR on my Freedom offer, which is the highest I hae seen. Thoughts everyone? I want to get this because of the 5/24 rule.

[Kenny]

Honestly, if you wanted the CSP to begin with go with the card you wish to have.. if there is anything I've learned is that if you don't app for the card you want you'll end up apping for more than you should and then you'll still want to app for that card but you haven't yet! lol

If your CR is still the same as when you had the preapproval go for it if you feel like it's good timing for the application. Let us know what the results are.

[Anonymous]

If your mortgage is all set, I'd say go for it.  Although it is now not showing in your pre-equal, you are still good to go.  If I may, what are your scores?  

[takeshi74]

Never rely on prequals for approval no matter how "solid" anyone might say one or another might be.  Determine your needs/wants and use them to select cards that suit you.  Make sure you've done the analysis to determine that the CSP is a good fit fit for you.  If you have not run the numbers for your spend and considered how you're going to redeem UR points and how that impacts reward value then you still have some homework to do.

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@Anonymous wrote:

I notice that I am also offered ~23% APR on my Freedom offer, which is the highest I hae seen. Thoughts everyone?

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That's not a good sign.  Your credit profile determines the APR you qualify for with cards that have a range.  If the offer is for 23% then they have concerns with your credit which is why the APR is that high.  Your credit profile will also determine the limit that you qualify for.

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@Anonymous wrote:

I want to get this because of the 5/24 rule.

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You should want to get it because it suits your requirements -- not just because you can squeeze an app in.  Maybe you have done your due diligence but there's no indfication of it in your OP and we can only go on what you tell us.

[Anonymous]

I apped for the CSP about a month after I apped for the Freedom. I got my Freedom through prequal but never got a prequal for the CSP. I honestly think the underwriting requirements are roughly the same for both however you need to have a higher income for CSP than for Freedom. The Freedom was my first card with Chase and they gave me a small $1000 initial approval with a 19.99% rate, however that included 0% intro rate for 15 months. That small approval didn't preclude me from being approved for the CSP. I would say go ahead and app for the CSP if that is what you want. Initial starting limit is higher and its generally an awesome card. The Freedom and CSP are a great combo to have so it might be useful for you to have both.

[Anonymous]

Thanks all. My FICO is around 700-720 range. I figured out why the APR is higher: I ususally have 0-3% util since I always pay early, but it's at 9% util this month.  And yeah, I didn't want to get this only because of the 5/24 rule, but this maximizes the benefits of my travel spendings. 

I will wait until my util drops to below 3% in mid-month before app'. Will report back! Thanks!