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Unasinous
Posts: 12
Registered: ‎02-02-2013
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Your thoughts? (credit apps, CSP)

Hey guys. So I just raised my CL on my Navy Fed cashRewards card to $25,000. I was approved for the CapitalOne Venture ($5,000 limit) and American Express Platinum (NPSL) just last week. Those two new cards are the only two inquiries on my report. All three credit scores are 761-765 FAKO. Now that I've caught the App Bug, I really want to apply for the CSP, but with no real good reason. Do you think it would be a bad idea for me to do that? Why or why not?

 

If I do apply for the CSP, I plan to do it around the end of the month after my new cards and util hit my reports. My utilitization is around 2-5%. Any thoughts?

 

Bonus question: Any estimates on what Chase might give me as a credit limit? My income is $140k a year, for now. I'm a military contractor which pays well for up to a year, then I'm out on my ass.

 

Thanks guys!

AmEx Platinum: NPSL AmEx SPG: $25,000 CSP: $26,200 Navy Fed CashRewards: $50,000 CapitalOne Venture: $10,000
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drkaje
Posts: 3,491
Registered: ‎07-25-2008
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Re: Your thoughts? (credit apps, CSP)

Hard to guess but you really can't expect NFCU's level of generosity, LOL!

 

They'll probably beat Cap1, though.


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LS2982
Posts: 15,436
Registered: ‎04-09-2011
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Re: Your thoughts? (credit apps, CSP)

Can you justify the high AF by using the card frequently enough??



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
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EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
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Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008
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Re: Your thoughts? (credit apps, CSP)

Yup don't expect a high limit like NFCU. They are a CU. Chase can be very conservative.

I love my CSP especially the sign up bonus.

If you have clean reports then I say you have a very good chance on obtaining it.

Good luck!!

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Last Credit Card App: 11/16/13
Mega Contributor
LS2982
Posts: 15,436
Registered: ‎04-09-2011
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Re: Your thoughts? (credit apps, CSP)

I'm gonna say 10-15K. Go for it!! :smileyhappy:




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
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thom02099
Posts: 1,350
Registered: ‎08-30-2011
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Re: Your thoughts? (credit apps, CSP)


Unasinous wrote:

Hey guys. So I just raised my CL on my Navy Fed cashRewards card to $25,000. I was approved for the CapitalOne Venture ($5,000 limit) and American Express Platinum (NPSL) just last week. Those two new cards are the only two inquiries on my report. All three credit scores are 761-765 FAKO. Now that I've caught the App Bug, I really want to apply for the CSP, but with no real good reason. Do you think it would be a bad idea for me to do that? Why or why not?

 

If I do apply for the CSP, I plan to do it around the end of the month after my new cards and util hit my reports. My utilitization is around 2-5%. Any thoughts?

 

Bonus question: Any estimates on what Chase might give me as a credit limit? My income is $140k a year, for now. I'm a military contractor which pays well for up to a year, then I'm out on my ass.

 

Thanks guys!


Don't want to sound pushy or anything like that, but you said you don't  have a real good reason to apply.  If you don't have a reason or purpose for the card, then why apply?  Seems to me that an inquiry could be put to better use for a card that you DO have a purpose or reason.   You certainly have the income and other cards that lssuers beside Chase provide, that may be a better fit for you.  Presumably there's something about the CSP that attracted you to that card?

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 799 EQ = 812 TU = 811 - 11/2014
Member
Unasinous
Posts: 12
Registered: ‎02-02-2013
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Re: Your thoughts? (credit apps, CSP)

Thanks guys! I appreciate your input. I'll be applying soon!

 

LS2982: Well all three of the cards have high annual fees so I don't know if I can expect to come out on top on all of them.  The Amex Plat will be useful and I think I can make most of that AF back by using the benefits, plus it's shiny. If I get the 40k bonus points from the CSP, that'll be a several years worth of the AF right there. And the CapOne may become my miscellaneous card on things the CSP doesn't get 2x rewards on. I haven't crunched the numbers or anything, but the annual fees don't seem to be too harmful right now.

 

One thing I forgot to ask earlier: I plan to pay my federal taxes (approx $2600) with my Amex. Does anyone know if that will count towards the initial bonus?

AmEx Platinum: NPSL AmEx SPG: $25,000 CSP: $26,200 Navy Fed CashRewards: $50,000 CapitalOne Venture: $10,000
Mega Contributor
LS2982
Posts: 15,436
Registered: ‎04-09-2011
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Re: Your thoughts? (credit apps, CSP)


Unasinous wrote:

Thanks guys! I appreciate your input. I'll be applying soon!

 

LS2982: Well all three of the cards have high annual fees so I don't know if I can expect to come out on top on all of them.  The Amex Plat will be useful and I think I can make most of that AF back by using the benefits, plus it's shiny. If I get the 40k bonus points from the CSP, that'll be a several years worth of the AF right there. And the CapOne may become my miscellaneous card on things the CSP doesn't get 2x rewards on. I haven't crunched the numbers or anything, but the annual fees don't seem to be too harmful right now.

 

One thing I forgot to ask earlier: I plan to pay my federal taxes (approx $2600) with my Amex. Does anyone know if that will count towards the initial bonus?


I would think so, a purcchase is a purchase.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Member
Unasinous
Posts: 12
Registered: ‎02-02-2013
0

Re: Your thoughts? (credit apps, CSP)

thom02099: Haha yeah, I see what you mean. I mainly want rewards out of my cards and the Venture and CSP seem to be the best two. My NavyFed only has 1-1.5% cashback while the Venture and CSP both offer 2% rewards. I don't really have a need for any other card either, it's just that the CSP seems like the best one out there right now. Plus I hear it's metal =D

 

I have just waited the two years for all my inquiries to fall off and it seems like wasting time if I spend any amount of time with no inquiries without trying to open more accounts so they start aging. My AAoA is still relatively low to most of the guys and gals I see on here. In ten years if I could have a bunch of accounts all aged, I feel that would be good. Maybe I'm doing it wrong but it feels right right now.

AmEx Platinum: NPSL AmEx SPG: $25,000 CSP: $26,200 Navy Fed CashRewards: $50,000 CapitalOne Venture: $10,000
Member
Unasinous
Posts: 12
Registered: ‎02-02-2013
0

Re: Your thoughts? (credit apps, CSP)

LS2982: Thanks! I'm certainly hoping so. I might have to start buying my mom lavish gifts in order to reach these bonuses lol.

AmEx Platinum: NPSL AmEx SPG: $25,000 CSP: $26,200 Navy Fed CashRewards: $50,000 CapitalOne Venture: $10,000

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