topic Re: Strategy to be approved for CSP in Credit Card Approvals

Strategy to be approved for CSP

Anonymous — Sun, 24 May 2015 16:08:25 GMT

Hi everyone,

My current goal is to eventually get approved for the Chase Sapphire Preferred card and I am wondering which way I should go about it. I am a new graduate and have a base salary of 67k per year. I have had a BOA rewards card for about 1.5 years (CL recently got increased to 5.9k) and a Discover It for 1 year (CL recently got increased to $1250). I did take hard inquiries on both of those increases (both on TU). I pay off each card in full every month and do not have any baddies.

Now I can see two ways of me going about this (although I'm sure there are more). My first thought is to apply for the Chase Freedom, and use that card a lot to build a relationship with Chase, and then apply for the CSP in another 6 months to a year. My second thought was to go ahead and apply for the CSP now. I know the minimum CL they will extend is 5K for the CSP, but they will see that BOA gives me 5.9k (even tho it is a relatively new limit).

Ive read a lot on these forums about approval chances for the CSP, but I just wanted to get others opinions about my individual situation. Should I apply now, apply for the Freedom, or just wait a few months in general?

A little more info on me: As of last month, my FICO score given from disoover it was 706. Although this was with a higher utilization (my BOA was previously only $2k). Before that, my utilization was at about 30%. I would definitely wait until BoA reported with my new CL before I applied for either card.

Thanks!

cjr8f8

Re: Strategy to be approved for CSP

redpat — Sun, 24 May 2015 16:14:14 GMT

Check credit pulls and chase prequalify. If scores and profile fit apply straight for CSP.

i don't think you need Freedom to get the card you really want.

Good luck!

Re: Strategy to be approved for CSP

ecxpa — Sun, 24 May 2015 16:20:18 GMT

@Anonymous wrote:
Hi everyone,

My current goal is to eventually get approved for the Chase Sapphire Preferred card and I am wondering which way I should go about it. I am a new graduate and have a base salary of 67k per year. I have had a BOA rewards card for about 1.5 years (CL recently got increased to 5.9k) and a Discover It for 1 year (CL recently got increased to $1250). I did take hard inquiries on both of those increases (both on TU). I pay off each card in full every month and do not have any baddies.

Now I can see two ways of me going about this (although I'm sure there are more). My first thought is to apply for the Chase Freedom, and use that card a lot to build a relationship with Chase, and then apply for the CSP in another 6 months to a year. My second thought was to go ahead and apply for the CSP now. I know the minimum CL they will extend is 5K for the CSP, but they will see that BOA gives me 5.9k (even tho it is a relatively new limit).

Ive read a lot on these forums about approval chances for the CSP, but I just wanted to get others opinions about my individual situation. Should I apply now, apply for the Freedom, or just wait a few months in general?

A little more info on me: As of last month, my FICO score given from disoover it was 706. Although this was with a higher utilization (my BOA was previously only $2k). I would definitely wait until BoA reported with my new CL before I applied for either card.

Thanks!
cjr8f8

Have you tried the Chase prequal site?..........I would go for the CS or CSP and if declined, wait 6 mos and shoot again..........if you have a specific goal I am a believer that you should go for it directly instead of taking the long route..........you are already in prime country and score seems OK. If you are beginning a journey I would highly recommend buying the monitoring service here. You will then have up to date FICO's from all 3 CRA's, the TU score from Discover is usually in line with FICO's from this site but you only get them once a month if you use the card. Chase has recently been pulling 2 reports, usually TU and EX.

Re: Strategy to be approved for CSP

Anonymous — Sun, 24 May 2015 17:42:48 GMT

Welcome to MYFICO. What are your other scores? Any baddies on your report? Have you checked the Chase pre-equal site to see if it shows up for you?

Re: Strategy to be approved for CSP

Anonymous — Sun, 24 May 2015 19:10:16 GMT

No baddies. And I do not know the other two scores as I have not subscribed to the myfico service (yet). I do know that TU has the most inquiries by 2 or 3 and is a 706 as of almost 3-4 weeks ago.

I had "opted out" of the credit card offers/pre screening so I could not check the chase site, but I just opted back in. When my BoA reports my new CL in a few days I will definitely check the prequalification and see what it says.

Re: Strategy to be approved for CSP

Anonymous — Sun, 24 May 2015 19:15:27 GMT

@Anonymous wrote:
No baddies. And I do not know the other two scores as I have not subscribed to the myfico service (yet). I do know that TU has the most inquiries by 2 or 3 and is a 706 as of almost 3-4 weeks ago.

I had "opted out" of the credit card offers/pre screening so I could not check the chase site, but I just opted back in. When my BoA reports my new CL in a few days I will definitely check the prequalification and see what it says.

Ok.. if you don't have any baddies then give it a shot. Some people are never pre-qualified and are approved. But wait for your BOA card to update on your reports before proceeding..

Re: Strategy to be approved for CSP

Anonymous — Sun, 24 May 2015 21:28:54 GMT

Hello,

Check the chase prequel see if you are eligible. I showed Freedom and CSP.

I was instant approval for for the Freedom 4k and also Apped for the CSP. GOT THAT 7-10 on the CSP. Called the phone to check approvals 30 min later CSP was approved for 9k.

Chase pulled TU and EXP for me

No baddies
Aaoa 4.7 years
TU when Apped 745 (4 inq)
EXP when Apped 725 (6 inq)

Re: Strategy to be approved for CSP

Anonymous — Sun, 24 May 2015 21:37:45 GMT

@Anonymous wrote:
Hello,

Check the chase prequel see if you are eligible. I showed Freedom and CSP.

I was instant approval for for the Freedom 4k and also Apped for the CSP. GOT THAT 7-10 on the CSP. Called the phone to check approvals 30 min later CSP was approved for 9k.

Chase pulled TU and EXP for me

No baddies
Aaoa 4.7 years
TU when Apped 745 (4 inq)
EXP when Apped 725 (6 inq)

@Anonymous,

Congrats on your approvals and welcome to MYFICO.

Re: Strategy to be approved for CSP

Anonymous — Sun, 31 May 2015 20:45:48 GMT

very nice, congrats. I'm getting itchy for that CSP.

Re: Strategy to be approved for CSP

Pitt570 — Mon, 01 Jun 2015 00:29:11 GMT

I would give it a shot...i didnt have no cards through chase and my first card with them was the csp so i dont think you need freedom first i didnt....its up to you though.

Re: Strategy to be approved for CSP

Anonymous — Tue, 02 Jun 2015 16:50:04 GMT

Was hoping to bring back good news today:

I did subscribe to that 3 Credit Bureau monitoring last week so I would know when my scores updated after BoA reported my new CL and balance. My BoA statement closed on 5/25. EX went up to 718 on 5/29 and TU went up to 733 on 5/31. Unfortunately, today (6/2) I got an alert that my EQ report is "all clear" and has no changes...which makes it stuck at 694.

If I could guarantee that Chase would only pull EX and TU I would do apply right now, but unfortunately no one will be able to make that guarantee. I don't want to risk a HP right now and risk them pulling EQ and still seeing a 2k limit on there and getting automatically denied with a slim chance at recon.

I also don't want to wait much longer because I have been putting off getting internet (AT&T) at my new home because I know they are going to HP and wanted to apply before getting the additional inquiry. I suppose if I do take a HP from AT&T right now I could explain that HP? Not really sure how all that looks to a lender.

I guess for now I'll wait another day or so and maybe something will change.

P.S. I did check the prequal site and I there are pre-qualifying offers for the freedom, sapphire preferred, and slate. So there's that...

Re: Strategy to be approved for CSP

Anonymous — Tue, 02 Jun 2015 17:29:48 GMT

Chase pulled Ex and TU for me as well--it's no guarantee that they won't pull EQ, but from everything I've read they seem to exclusively pull EX and TU together (unless you have one of those frozen). So I think it's pretty safe to say that they will only pull EX and TU for you as well. I say go for it and report back and let us know how it went

Re: Strategy to be approved for CSP

Anonymous — Tue, 02 Jun 2015 17:51:45 GMT

I appreciate everyone's input on the matter, but I actually gave in to fear and apped the Chase Freedom instead....and was approved for 7k (It will be a Visa Signature)! Looks like I probably would have been approved for the CSP, oh well! Looks like its time to put my Discover It in the sock drawer and charge netflix to it every month.

The way I figure is (and to keep myself sane from knowing I probably would have been approved for the CSP), I am only 23 years old with an AAOA at about 1 year (before the Freedom). I will be able to keep my current 3 cards forever and be able to maintain a long AAOA over time. The next cards i app (probably not for a while, I need some inquiries to fall off first) will be miles cards like the CSP, United, SW, etc.

Still not sure what CRA's Chase pulled, but when I find out I will be sure to post back to let others know.

Thanks again for the advice, maybe next time i'll actually listen to it :X

Re: Strategy to be approved for CSP

hizzaah — Tue, 02 Jun 2015 18:31:25 GMT

When did you app? My gf apped for the CSP (instant approved for 6.5k) and then apped for the Freedom (instant 4.5k). Resulted in one pull. I don't see why you wouldn't get it with your income and credit history; combined with the pre-qual... Good luck

Re: Strategy to be approved for CSP

Anonymous — Tue, 02 Jun 2015 18:37:05 GMT

@Anonymous wrote:
I appreciate everyone's input on the matter, but I actually gave in to fear and apped the Chase Freedom instead....and was approved for 7k (It will be a Visa Signature)! Looks like I probably would have been approved for the CSP, oh well! Looks like its time to put my Discover It in the sock drawer and charge netflix to it every month.

The way I figure is (and to keep myself sane from knowing I probably would have been approved for the CSP), I am only 23 years old with an AAOA at about 1 year (before the Freedom). I will be able to keep my current 3 cards forever and be able to maintain a long AAOA over time. The next cards i app (probably not for a while, I need some inquiries to fall off first) will be miles cards like the CSP, United, SW, etc.

Still not sure what CRA's Chase pulled, but when I find out I will be sure to post back to let others know.

Thanks again for the advice, maybe next time i'll actually listen to it :X

Very nice... Congrats and good starting limit on the Freedom..

Re: Strategy to be approved for CSP

gdale6 — Tue, 02 Jun 2015 18:45:48 GMT

@Anonymous wrote:
I appreciate everyone's input on the matter, but I actually gave in to fear and apped the Chase Freedom instead....and was approved for 7k (It will be a Visa Signature)! Looks like I probably would have been approved for the CSP, oh well! Looks like its time to put my Discover It in the sock drawer and charge netflix to it every month.

The way I figure is (and to keep myself sane from knowing I probably would have been approved for the CSP), I am only 23 years old with an AAOA at about 1 year (before the Freedom). I will be able to keep my current 3 cards forever and be able to maintain a long AAOA over time. The next cards i app (probably not for a while, I need some inquiries to fall off first) will be miles cards like the CSP, United, SW, etc.

Still not sure what CRA's Chase pulled, but when I find out I will be sure to post back to let others know.

Thanks again for the advice, maybe next time i'll actually listen to it :X

Grats on your new card

Re: Strategy to be approved for CSP

Anonymous — Tue, 02 Jun 2015 19:59:47 GMT

I started out with a Chase Amazon. Used it for about a month and saw I was prequalified for a Chase Freedom. I think I read somewhere on here that if you can get the Freedom you can get the CSP so I applied for the CSP and was approved for 5k. My FICO scores aren't that great (EX680) I'm still rebuilding/building. For future reference if you can get the Freedom you can likely get the CSP.