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Regular Contributor
Posts: 237
Registered: ‎06-21-2010
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Would getting a Freedom help me get a CSP later (within 6 months)?

I was denied a Chase Sapphire Preferred.

 

The reason given was that I didnt have any experience with large credit lines (I just got a few large ones in September, but they said it was too recent).

 

The CSR chatted with me for a while and told me that I should consider applying for a lower product that didnt require a $5K minimum.

 

I really want the CSP though and I'm wondering if I should burn another hard pull in getting one in hopes that it will help improve my chances with Chase when I apply again in the spring.

 

The problem is that I have some great credit cards already and I dont really need the Freedom.  I would also rather get the Freedom when it had an awesome sign-up bonus.

 

Any advice?  Should I just sit tight?

Valued Contributor
Posts: 1,877
Registered: ‎11-17-2012
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Re: Would getting a Freedom help me get a CSP later (within 6 months)?

It's not a requirement and personally I feel like you're more likely to get approved without having a Chase Freedom card (due to a consumer only have x amount of dollars Chase will lend them in total between cards).

 

Since you don't need it, try increasing your limits on your current card! You'll likely need a $5000+ limit, and have experience with it for approximately 6 months. Try to definitely up limits on your cards that are soft pulls so as not to add more unnecessary hard pulls!

 

Best of luck :smileyhappy:

,l.
Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

FICOS: EX 768 EQ 712 TU 750 VantageScore 3.0: EX 734 EQ 736 TU 737 Credit Sesame (EX) 780 Credit.com (EX) 786
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Posts: 3,330
Registered: ‎10-19-2012
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Re: Would getting a Freedom help me get a CSP later (within 6 months)?

They gave you the reason for denial. So just work on it and apply after a few months. There's no point in getting a card you don't want. 

Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
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Re: Would getting a Freedom help me get a CSP later (within 6 months)?


charyot77 wrote:

I was denied a Chase Sapphire Preferred.

 

The reason given was that I didnt have any experience with large credit lines (I just got a few large ones in September, but they said it was too recent).

 

The CSR chatted with me for a while and told me that I should consider applying for a lower product that didnt require a $5K minimum.

 

I really want the CSP though and I'm wondering if I should burn another hard pull in getting one in hopes that it will help improve my chances with Chase when I apply again in the spring.

 

The problem is that I have some great credit cards already and I dont really need the Freedom.  I would also rather get the Freedom when it had an awesome sign-up bonus.

 

Any advice?  Should I just sit tight?


what's your credit file look like? Chase doesn't like being the first one to issue you access to a Visa signiture card (5k limit min)


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Regular Contributor
Posts: 237
Registered: ‎06-21-2010
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Re: Would getting a Freedom help me get a CSP later (within 6 months)?


distantarray wrote:

what's your credit file look like? Chase doesn't like being the first one to issue you access to a Visa signiture card (5k limit min)


 I have 11 credits and $15K total in available credit. ($10K of that is between 3 cards).

AAoA is about 7 years.

FICOs are all in 705-725 range according to reports pulled in Oct. 

The only baddie I have is a paid judgement from 2010. (paid recently)

 

Chase told me the judgement wasn't a liability but that having no experience with large cards was. I wish I could tell them that I've had a trade line of over $5K on the foreign issued AMEX that I use.

 

I pleaded my case but the guy on the phone kept saying I didn't "qualify".

 

Now that I think about it though, even though they suggested it,  I'm not sure if I can even apply for a Freedom or Slate since I was denied the CSP. I think you have to wait so many months after a denial, right?

 

 

 

Valued Contributor
Posts: 1,954
Registered: ‎01-24-2012
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Re: Would getting a Freedom help me get a CSP later (within 6 months)?

It isn't a guarantee, but as with most lenders, having a card with Chase prior to having the Chase Sapphire Preferred, will let them know what kind of customer you are. Now they know nothing but what is on your reports. If you have a card with them, they can get to know you a lot better. If you have use for the Chase Freedom, I don't see how it can hurt.

Established Contributor
Posts: 1,837
Registered: ‎08-20-2012
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Re: Would getting a Freedom help me get a CSP later (within 6 months)?

+1

Contributor
Posts: 83
Registered: ‎06-13-2012
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Re: Would getting a Freedom help me get a CSP later (within 6 months)?

You could always get the Chase Freedom card now, then apply for a product change to the CSP after a year.  There's no guarantee they'll give it to you, but at least you'll start earning Ultimate Rewards points.

TU 743 as of 5/12
EQ 715 as of 10/13
EX Plus 780 as of 7/12

Cards in wallet: Chase Sapphire Preferred ($25k) Chase Freedom (8k) NFCU Platinum ($24k) HHonors Reserve ($11k)
United MileagePlus Club ($17k)
Established Contributor
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Would getting a Freedom help me get a CSP later (within 6 months)?

your credit score is low of the borderine I'm seeing for Chase Sapphire, get the judgement removed and try for it would be  the best option. also depending on if you really want it you can get the Chase Checking + Chase Freedom ($300 in bonuses this month (200 checking an 100 freedom) best part is that you can save your freedom points now, and throw them onto Sapphire later if you choose and get 25% more making each 5% categories worth 6.25% and a max of extra 75$ value per year for travel.

 

yes getting a checking and freedom will increase your chances later for a sapphire card.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Regular Contributor
Posts: 237
Registered: ‎06-21-2010
0

Re: Would getting a Freedom help me get a CSP later (within 6 months)?


distantarray wrote:

your credit score is low of the borderine I'm seeing for Chase Sapphire, get the judgement removed and try for it would be  the best option. also depending on if you really want it you can get the Chase Checking + Chase Freedom ($300 in bonuses this month (200 checking an 100 freedom) best part is that you can save your freedom points now, and throw them onto Sapphire later if you choose and get 25% more making each 5% categories worth 6.25% and a max of extra 75$ value per year for travel.

 

yes getting a checking and freedom will increase your chances later for a sapphire card.


Thanks for the advice (from everyone!). I'm antsy about applying for a card lately because I'll be taking advantage of my 0% financing starting this weekend. I figure that my utilization Is going to take a hit until Spring so I'm trying to decide whether to use up inq now and sit on it, or to wait a few months.  The CSP is the last card I want, and mostly for the no forex fee.

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