topic Re: CSP Potential? in Credit Card Applications

CSP Potential?

Anonymous — Fri, 08 Jan 2016 02:27:45 GMT

My fico score 8 is 744 probably around 760 next week. I have 8-12 inqueries that will be > 6 months next month. I have 2 cards, low limit < $1,000. Very clean CR with an AAoA at 5.8 years. I plan to get the Venture Card next week to show a high CL, then app for the CSP after it reports. Is this sound logic? I have tried the pre-qual sites on Chase and nothing yet. I have been banking with Chase for 10+ years and maintained at least $50K in savings there. I also had a $65K auto loan that was paid on time and closed as positive. Plus income that supports higher level cards. Is this the right strategy? I dont want a bunch of cards, this is the one I want after a great deal of research it fits my needs. Thoughts, please, please, please...

Re: CSP Potential?

Anonymous — Fri, 08 Jan 2016 02:36:07 GMT

@Anonymous wrote:
My fico score 8 is 744 probably around 760 next week. I have 8-12 inqueries that will be > 6 months next month. I have 2 cards, low limit < $1,000. Very clean CR with an AAoA at 5.8 years. I plan to get the Venture Card next week to show a high CL, then app for the CSP after it reports. Is this sound logic? I have tried the pre-qual sites on Chase and nothing yet. I have been banking with Chase for 10+ years and maintained at least $50K in savings there. I also had a $65K auto loan that was paid on time and closed as positive. Plus income that supports higher level cards. Is this the right strategy? I dont want a bunch of cards, this is the one I want after a great deal of research it fits my needs. Thoughts, please, please, please...

Sounds like a good plan. Not even sure you need to get the Venture first but that can't hurt. Good luck and let us know how the applications go.

Re: CSP Potential?

Anonymous — Fri, 08 Jan 2016 03:42:12 GMT

An Irish repsonse - on bended knee...

I still ask for your help and counsel but I must acknowledge and profess, I am a Nole - ex football player to be precise. I hope that doesnt prevent you from sound advice.

In the forums I have read that CSP prefers/demands a prior card of equal or greater CL than their minimum? If they do not, I have no need for the Venture. I was reading an old thread where the powers that be fought tempation to acquire the "Crap One" card, I see some were not strong enough to resist. It is hard to avoid the $15K-$30K card, right?

Re: CSP Potential?

elim — Fri, 08 Jan 2016 03:50:25 GMT

If you think its "crap one", it's definitely not the card for you. Just grab CSP... Chase should give you a nice limit.

Re: CSP Potential?

Anonymous — Fri, 08 Jan 2016 03:53:28 GMT

@Anonymous wrote:
An Irish repsonse - on bended knee...

I still ask for your help and counsel but I must acknowledge and profess, I am a Nole - ex football player to be precise. I hope that doesnt prevent you from sound advice.

In the forums I have read that CSP prefers/demands a prior card of equal or greater CL than their minimum? If they do not, I have no need for the Venture. I was reading an old thread where the powers that be fought tempation to acquire the "Crap One" card, I see some were not strong enough to resist. It is hard to avoid the $15K-$30K card, right?

Should have told me that before. I'd given you a completely different answer. As long as we don't discuss the 93 season, we will be fine

Just kidding. What years did you play?

Yes, there is some truth to Chase wanting to see an established 'high' limit before applying for the CSP but you're not in that normal category because of your banking and auto loan relationship with them. That's why I don't think the Venture is necessary.

Re: CSP Potential?

TrialByFire — Fri, 08 Jan 2016 04:32:13 GMT

I agree with Irish, strong existing relationship with Chase will trump the prerequisite for another 5k line. At the time of my csp approval (cold app), my highest line was 2.5k so they were the first. AAoA was similar but otherwise a dirty file with scores 90pts lower than yours.

Your logic makes sense, but I don't think the high limit venture for the sake of a future csp approval is necessary in your case

Re: CSP Potential?

Anonymous — Fri, 08 Jan 2016 04:33:01 GMT

Elim - I enjoy your posts and advise/advice. I personally think Cap 1 is great, they extended credit when others did not. I was referring to an old thread that some of the leaders today extended for quite some time then. At this point, they have developed a loyal follower. My end goal is CSP though, It just makes sense for me.

Irish, my thoughts are a bit foggy, can you tell me what happened in 93? I have a painting of FSU spanking the Huskers in the National Championship game, for some reason I just cant delve too far into the season? Although I am dating myself - 85 was my first year.

In the end I want both cards, possibly an AmEx as well, then I am done. I want to live in the garden, no, I want to own the garden. We have to have goals right?

Re: CSP Potential?

elim — Fri, 08 Jan 2016 04:52:22 GMT

Sorry... Didn't mean to be short at all. GF walked in (works nights - nurse) and I was rushing to meet her. lol, my post looks pretty bad.

Yeah Cap One is ok. But If you won't be happy with the card, no need to even open one.

CSP is a great card IMO. With your income and relationship, Chase should start you off pretty good. Can't understand about the prequal. I would go into your branch and ask if you have an offer for CSP as you are very interested in the card with a 10k - 15k limit. (never know) :]

My experience...

CSP 15.99% APR / 5k limit / $480 bonus

Venture 16.9% APR / 10k limit / $430 bonus (rolled a 4k limit QS into it at 6 months to 14k and opened Venture2)

Venture2 12.9% APR / 15k limit / $430 bonus

edit: my income is low (50k) so I expect you will have much better results with your limits

Re: CSP Potential?

Anonymous — Fri, 08 Jan 2016 17:12:58 GMT

You'll get approved probably, strong relationship means a better internal score which is what chas used to make their decision. Also your deposits will easily factor into this equation and I'd guess you'd have a high internal because of that if not for any other reason. I'd guess a 5-7k starting limit.

Re: CSP Potential?

Anonymous — Fri, 08 Jan 2016 17:18:00 GMT

Oh another thing... Venture Isn't a crap one card it's a very good card and miles add up quick...just on regular purchases in two months I've accrued well over 100 along with the 400$ signup bonus so for the most part I'd say it's my go to card. CSP is nice and the customer service is phone omens to say the least, instant rep, flashy card you'll get kudos on, and high limits if you treat it well. Unfortunately I have to wait for the freedom to combine it with my csp. Id say if you get the CSP get the freedom too if you don't have it already, you'll probably get one hard pull like I did even if you recon your starting limit.

Re: CSP Potential?

Anonymous — Fri, 08 Jan 2016 18:52:29 GMT

I apologize about the way I articulated Cap 1. On reflection, my words could easily be construed as a negative when in fact I feel they are a great company. They gave me a card when others wouldnt dare and I have had nothing but great service from them. I plan to be a loyal customer as long as they will have me. I wrote my thoughts after reading a thread about a year ago that included a lot of the current leaders, not to mention a few glass' of wine. My end goal has always been CSP and I want a very short line up. At some point I want the Venture, just want in with Chase as soon as possible. Thanks for everyones feedback.

Re: CSP Potential?

Anonymous — Fri, 08 Jan 2016 19:06:46 GMT

@Anonymous wrote:
Elim - I enjoy your posts and advise/advice. I personally think Cap 1 is great, they extended credit when others did not. I was referring to an old thread that some of the leaders today extended for quite some time then. At this point, they have developed a loyal follower. My end goal is CSP though, It just makes sense for me.

Irish, my thoughts are a bit foggy, can you tell me what happened in 93? I have a painting of FSU spanking the Huskers in the National Championship game, for some reason I just cant delve too far into the season? Although I am dating myself - 85 was my first year.

In the end I want both cards, possibly an AmEx as well, then I am done. I want to live in the garden, no, I want to own the garden. We have to have goals right?

OMG -- are you Deion Sanders?!?!?!

Re: CSP Potential?

Anonymous — Sat, 09 Jan 2016 00:26:51 GMT

Deion was "Prime Time" - I was sub-prime time!

Re: CSP Potential?

mowglidude — Sun, 31 Jan 2016 20:03:01 GMT

@Anonymous wrote:
@Anonymous wrote:
My fico score 8 is 744 probably around 760 next week. I have 8-12 inqueries that will be > 6 months next month. I have 2 cards, low limit < $1,000. Very clean CR with an AAoA at 5.8 years. I plan to get the Venture Card next week to show a high CL, then app for the CSP after it reports. Is this sound logic? I have tried the pre-qual sites on Chase and nothing yet. I have been banking with Chase for 10+ years and maintained at least $50K in savings there. I also had a $65K auto loan that was paid on time and closed as positive. Plus income that supports higher level cards. Is this the right strategy? I dont want a bunch of cards, this is the one I want after a great deal of research it fits my needs. Thoughts, please, please, please...
Sounds like a good plan. Not even sure you need to get the Venture first but that can't hurt. Good luck and let us know how the applications go.

I need some help on how to get close to your siggy...I have been in the garden over a year and I am ready to app. Any advice?

Re: CSP Potential?

NRB525 — Mon, 01 Feb 2016 00:08:46 GMT

@mowglidude wrote:
@Anonymous wrote:
@Anonymous wrote:
My fico score 8 is 744 probably around 760 next week. I have 8-12 inqueries that will be > 6 months next month. I have 2 cards, low limit < $1,000. Very clean CR with an AAoA at 5.8 years. I plan to get the Venture Card next week to show a high CL, then app for the CSP after it reports. Is this sound logic? I have tried the pre-qual sites on Chase and nothing yet. I have been banking with Chase for 10+ years and maintained at least $50K in savings there. I also had a $65K auto loan that was paid on time and closed as positive. Plus income that supports higher level cards. Is this the right strategy? I dont want a bunch of cards, this is the one I want after a great deal of research it fits my needs. Thoughts, please, please, please...
Sounds like a good plan. Not even sure you need to get the Venture first but that can't hurt. Good luck and let us know how the applications go.
I need some help on how to get close to your siggy...I have been in the garden over a year and I am ready to app. Any advice?

Dude, Mowgli, you are dredging up ancient topics all over the boards to send out some scattering of questions to people who often aren't around to answer your questions.

Take a breath. Craft a comprehensive question / perspective post, which covers all your current concerns for what your current profile looks like, and what you think you might want to do for future apps.

Then post one (1) single post as a new thread / post / question in the Credit Cards forum to get a set of answers that is on-topic, directed to your situation, and ultimately much more helpful to you than the current scattershot method. Don't try to tag along with someone elses' old topic. You are an individual. You can open one new thread for your question