topic Re: CSR Approval Chances - Short History in Credit Card Applications

CSR Approval Chances - Short History

Anonymous — Mon, 03 Sep 2018 02:48:08 GMT

So I'm going on a trip in a few months and want the Chase Sapphire Reserve Card.

I currently have 4 cards, and have never had any loans:

FICO Score: ~720

Age: 22

Annual Income: 120,000

Amex BlueCash - $8000 CL, 15 months ago

Discover It - $3000 CL, 6 months ago

Chase Freedom and Freedom Unlimited, Both $6800 CL, Both 2 months ago

Utilization: ~5%

No negatives anywhere on my report.

I also have a small checking account with chase, but never use it, from ~6 months ago

Any chance I get the CSR? If not, is it worth going for the CSP and waiting a year to upgrade?

Re: CSR Approval Chances - Short History

Medic981 — Mon, 03 Sep 2018 03:17:53 GMT

@Anonymous wrote:
So I'm going on a trip in a few months and want the Chase Sapphire Reserve Card.
I currently have 4 cards, and have never had any loans:
FICO Score: ~720
Age: 22
Annual Income: 120,000
Amex BlueCash - $8000 CL, 15 months ago
Discover It - $3000 CL, 6 months ago
Chase Freedom and Freedom Unlimited, Both $6800 CL, Both 2 months ago
Utilization: ~5%
No negatives anywhere on my report.
I also have a small checking account with chase, but never use it, from ~6 months ago

Any chance I get the CSR? If not, is it worth going for the CSP and waiting a year to upgrade?

Welcome to the myFICO forum.

As long as you have not acquired more than 5 CCs in the past 24 months you should be good to go. This is called the Chase 5/24 rule. Chase is very jealous and wants you to use them as your credit card company.

Re: CSR Approval Chances - Short History

LuckyB338 — Mon, 03 Sep 2018 04:17:28 GMT

Welcome to the forum!

You have a solid profile, so as far as approval odds go it will likely be an approval.

With that being said, I’m sort of in the same situation and been eyeing CSP/CSR for some time, and here’s what I can tell you... check prequals (credit journey, green check mark, online tool), and if you can try to hold off the application at least till there’s a 6 month gap between each application/approval bc you were just approved for 2 cards 2 months ago. Keep us posted!

Re: CSR Approval Chances - Short History

Anonymous — Mon, 03 Sep 2018 06:06:06 GMT

@LuckyB338 wrote:
Welcome to the forum!

You have a solid profile, so as far as approval odds go it will likely be an approval.

... check prequals (credit journey, green check mark, online tool), and if you can try to hold off the application at least till there’s a 6 month gap between each application/approval bc you were just approved for 2 cards 2 months ago. Keep us posted!

Re: CSR Approval Chances - Short History

Cred4All — Mon, 03 Sep 2018 12:16:10 GMT

@Anonymous wrote:
@LuckyB338 wrote:
Welcome to the forum!

You have a solid profile, so as far as approval odds go it will likely be an approval.

... check prequals (credit journey, green check mark, online tool), and if you can try to hold off the application at least till there’s a 6 month gap between each application/approval bc you were just approved for 2 cards 2 months ago. Keep us posted!

+1

+2 . Your profile looks good so the only item sticking out is the AAoA issue. Let what you just got age a bit, otherwise as said above you most likely stand a good chance at success.

Re: CSR Approval Chances - Short History

Anonymous — Mon, 03 Sep 2018 12:34:50 GMT

@Anonymous wrote:
So I'm going on a trip in a few months and want the Chase Sapphire Reserve Card.
I currently have 4 cards, and have never had any loans:
FICO Score: ~720
Age: 22
Annual Income: 120,000
Amex BlueCash - $8000 CL, 15 months ago
Discover It - $3000 CL, 6 months ago
Chase Freedom and Freedom Unlimited, Both $6800 CL, Both 2 months ago
Utilization: ~5%
No negatives anywhere on my report.
I also have a small checking account with chase, but never use it, from ~6 months ago

Any chance I get the CSR? If not, is it worth going for the CSP and waiting a year to upgrade?

My advice is to go in to a Chase branch and ask a personal banker (1) Whether you have an pre-approvals and if they include the CSR, (2) request that they submit the credit application.

Going "in-branch" cuts through barriers you might otherwise encounter. They will ask for ID, then look you up in their system.

Re: CSR Approval Chances - Short History

xaximus — Mon, 03 Sep 2018 15:54:13 GMT

@Anonymous wrote:
@Anonymous wrote:
So I'm going on a trip in a few months and want the Chase Sapphire Reserve Card.
I currently have 4 cards, and have never had any loans:
FICO Score: ~720
Age: 22
Annual Income: 120,000
Amex BlueCash - $8000 CL, 15 months ago
Discover It - $3000 CL, 6 months ago
Chase Freedom and Freedom Unlimited, Both $6800 CL, Both 2 months ago
Utilization: ~5%
No negatives anywhere on my report.
I also have a small checking account with chase, but never use it, from ~6 months ago

Any chance I get the CSR? If not, is it worth going for the CSP and waiting a year to upgrade?

My advice is to go in to a Chase branch and ask a personal banker (1) Whether you have an pre-approvals and if they include the CSR, (2) request that they submit the credit application.
Going "in-branch" cuts through barriers you might otherwise encounter. They will ask for ID, then look you up in their system.

I would second this if you can. Also, what is your AAoA? If it's under a year, then the chance of an approval drops. Chase likes to see atleast 1 year of AAoA. Also the CSR usually has a 10k plus approval (SL) and usually like to see atleast another 10k card (not always true but DPs have noticed this). With your profile, I would agree that an approval is possible (as long as the AAoA is above 1 year).

Re: CSR Approval Chances - Short History

Anonymous — Tue, 04 Sep 2018 05:35:36 GMT

So, when I applied for the CSP I was deined, when I called the recon line I was told that everything about my profile was good except AAOA was too low. She said they would like to see my oldest card closer to the 2 year mark.

My DP:

Discover IT - 15 months

Chase Unlt - 10 months

Citi Double - 7 months

Amazon Prime - 2 months

Your results may be different given your higher income, but just wanted to share my results with the lower tier CSP. Best of luck!

Re: CSR Approval Chances - Short History

LuckyB338 — Tue, 04 Sep 2018 13:05:14 GMT

Was this a cold app or did you have an offer?

Re: CSR Approval Chances - Short History

Anonymous — Wed, 05 Sep 2018 17:00:48 GMT

Thanks, I decided to wait a month or two before the app. Will update with how that goes.

Not too worried about the HP as this is the last app I'm going to make for a while, probably.

Re: CSR Approval Chances - Short History

Cred4All — Wed, 05 Sep 2018 19:58:21 GMT

@Anonymous wrote:

Not too worried about the HP as this is the last app I'm going to make for a while, probably.

That got a good laugh out of me today, spoken like 90% of the rest of us here! "Probably." Look forward to the follow-up in another 2 months or so.

Re: CSR Approval Chances - Short History

Anonymous — Wed, 05 Sep 2018 22:45:16 GMT

@Anonymous wrote:
Thanks, I decided to wait a month or two before the app. Will update with how that goes.

Not too worried about the HP as this is the last app I'm going to make for a while, probably.

Good call on waiting to apply. Chase seems to get bothered with how fast you apply for credit cards. I say wait until 3 months has passed since you applied for CF/CFU. Also, you are currently 4/24- DON'T APPLY FOR ANOTHER CARD UNTIL CSR.

You can attempt to double-dip CSR/CSP as well to get sign-up bonuses for both cards.

Re: CSR Approval Chances - Short History

Anonymous — Tue, 23 Oct 2018 19:24:00 GMT

I updated this here: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/A-Strange-Tale-of-CSR-Approval/td-p/5390343

TLDR: Chase AA'd one of my cards for having exceeded the internal credit, then gave me the CSR with 5x the credit about 4 weeks later.

Re: CSR Approval Chances - Short History

CreditCuriosity — Tue, 23 Oct 2018 23:44:33 GMT

Locked. Please see OP's approval thread.