topic Re: Really want the CSP... in Credit Cards

Really want the CSP...

Anonymous — Sat, 16 May 2015 18:31:52 GMT

Hey y'all!

Finally bit the bullet so to speak and signed up for MyFico's credit monitoring. I've been lurking for a while, posted once, but now I want some help.

I realllly really want the CSP card. I think it's just sexy, to be honest, and I travel a lot so I'm sure it would be to my benefit. I feel like I've made a commitment to sign up for FICO scores, rather than CK FAKOs, and I don't think I'm in too shabby of a place, considering I'm in $35k in student/personal loans and my past history of three late payments in 2012 (one was a 120, and two of my cards were closed).

So, after my shpeel, any suggestions to get the CSP? Note that my $2k Freedom isn't reporting yet as it's new, but my most recent util across my other cards is 0% (I am mostly charging things with Chase to try and get ins with them). I tend to charge a lot on the Cap1 and about half my limit on the Loft, then PIF before my statement cuts.

Thanks!

Re: Really want the CSP...

ksantangelo23 — Sat, 16 May 2015 18:39:05 GMT

The lates would be an issue, but since Chase approved you it seems they are willing to be somewhat forgiving on it.

I think it would be a difficult one to be approved for at this point. Given that you just received the Freedom at $2,000 would signal you'd have an issue reaching the $5,000 minimum CSP requires.

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 18:52:07 GMT

Totally, and I am aware of that. I'm asking what I can do to be approved somepoint in the future. I know that they like to see a card with a CL of $5,000, so I plan to ask for a CLI on the Freedom - if I'm not already given one - in six months time to $5k. That way, I at least have my foot in the door in that regard.

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 18:58:09 GMT

don't ask for a CLI with them. if they don't auto do it then don't worry about it lol. i have had the same $1,500 limit since november 2011. just keep using the freedom for now and maybe get another one in a few months before trying for the CSP

Re: Really want the CSP...

ksantangelo23 — Sat, 16 May 2015 19:10:04 GMT

Normally for those with a smaller profile, piggybacking as an AU with a trusted family member or friend could be a great boost, but sadly, Chase will disregard AU accounts.

The only thing you can do is keep a perfect history maintained, use that Freedom, and keep checking the preapproval page for Chase.

It may be ossible to have those late payments removed through the use of goodwill letters as well.

Re: Really want the CSP...

Ghoshida — Sat, 16 May 2015 19:12:36 GMT

@Anonymous wrote:
Hey y'all!

Finally bit the bullet so to speak and signed up for MyFico's credit monitoring. I've been lurking for a while, posted once, but now I want some help.

I realllly really want the CSP card. I think it's just sexy, to be honest, and I travel a lot so I'm sure it would be to my benefit. I feel like I've made a commitment to sign up for FICO scores, rather than CK FAKOs, and I don't think I'm in too shabby of a place, considering I'm in $35k in student/personal loans and my past history of three late payments in 2012 (one was a 120, and two of my cards were closed).

So, after my shpeel, any suggestions to get the CSP? Note that my $2k Freedom isn't reporting yet as it's new, but my most recent util across my other cards is 0% (I am mostly charging things with Chase to try and get ins with them). I tend to charge a lot on the Cap1 and about half my limit on the Loft, then PIF before my statement cuts.

Thanks!

Good that you have done your cost-benefit analysis on the CSP and you know it's useful.

Now, you need to do a few things:

(1) Get a CLI on that Cap One. I'm guessing it's older than the Freedom. Is it on the credit steps program? If yes, has it become 6 months old yet? If neither then ask for a CLI online (love button) and then if denied, ask the exec office for raising it to $8-10k, they'll counter, and you'll get closer to $5k. Getting a CLI from Cap One is easier than getting one from Chase.

(2) Don't push the love button on Freedom. First, they don't have one. Second, they'll ask for a HP (that isn't half bad) and then mostly either decline or give you some paltry $500 (majority experience, there are rare success stories). What you should do is to push the limit of the card and then pay - make sure to pay multiple times the minimum at least, and better if PIF. Chase may not like util on others' cards but loves to see use on its own cards; my friend got a CLI from $5.5k to $10k with a $4k balance on his Freedom.

(3) Keep checking for Chase pre-approvals. They're pretty good. Yes, it's true that sometimes they don't show cards even when your profile is great and you'd get the card by cold app, but for many here the pre-app page has been consistent. I got a CSP pre-qual after I had the Freedom for 8 months and Slate for 6. My Freedom limit was $500, Slate was $1,000, and CSP was $6,700.

(4) Not guaranteed, but try to get the score above 700. I'd say that your scores are on the lower side for CSP. Again, YMMV.

Re: Really want the CSP...

JSS3 — Sat, 16 May 2015 19:18:11 GMT

Don't request a CLI on the Freedom. It will result in a hard pull with most likely unsatisfactory results.

Use your Freedom and get another non-Chase card up to 5,000(Synch) for a year. Then revisit the CSP.

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 19:22:55 GMT

@Anonymous wrote:
don't ask for a CLI with them. if they don't auto do it then don't worry about it lol. i have had the same $1,500 limit since november 2011. just keep using the freedom for now and maybe get another one in a few months before trying for the CSP

I've seen some auto increases on here, and it is restaurant 5x points period, so I'm hoping my overuse/PIF pattern will tickle their fancy Sorry to hear that they haven't upped you in years!

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 19:24:58 GMT

@ksantangelo23 wrote:
Normally for those with a smaller profile, piggybacking as an AU with a trusted family member or friend could be a great boost, but sadly, Chase will disregard AU accounts.

The only thing you can do is keep a perfect history maintained, use that Freedom, and keep checking the preapproval page for Chase.

It may be ossible to have those late payments removed through the use of goodwill letters as well.

Good to know, thanks! That's how I got the Freedom - was preapproved. I just checked the page this morning, but just Slate.

I am actually in the process of sending out some goodwill letters, but a little scared since BofA and American Eagle closed those accounts (so young and stupid) and I barely use my Target card (I think I shredded it...but use it for online orders once in a blue moon).

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 19:33:31 GMT

My experience with chase is this. I got a freedom with a 1K line in June 2012 and had one $200 bump a couple of years ago. HP's for CLI's came to nothing. I got an amazon in March 2014 for $3500. I have checking and savings, a 2011 paid car loan and direct deposit all through Chase. In December I received a preapproval for CSP and obtained a card with a $5K CL. I have lots of baddies that are now aging (most recent Sept 2013). I've never been late or anything with chase. I think you need some history (say, six months with the freedom) and maybe open up a checking account if chase is near you before going after CSP. I wouldn't have it if I didn't have years of good history with the bank since my overall history is not good. It is improving at age 54. Today I was approved for a $15K AMEX everday card that offers 0% interest. I thought about slate but they give small limits and I can't do a balance transfer from another chase card to slate. I was denied ED only last August, so things can change. I'd give yourself some time and enjoy your Freedom.

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 19:31:41 GMT

@Ghoshida wrote:

Good that you have done your cost-benefit analysis on the CSP and you know it's useful.

Now, you need to do a few things:

(1) Get a CLI on that Cap One. I'm guessing it's older than the Freedom. Is it on the credit steps program? If yes, has it become 6 months old yet? If neither then ask for a CLI online (love button) and then if denied, ask the exec office for raising it to $8-10k, they'll counter, and you'll get closer to $5k. Getting a CLI from Cap One is easier than getting one from Chase.

(2) Don't push the love button on Freedom. First, they don't have one. Second, they'll ask for a HP (that isn't half bad) and then mostly either decline or give you some paltry $500 (majority experience, there are rare success stories). What you should do is to push the limit of the card and then pay - make sure to pay multiple times the minimum at least, and better if PIF. Chase may not like util on others' cards but loves to see use on its own cards; my friend got a CLI from $5.5k to $10k with a $4k balance on his Freedom.

(3) Keep checking for Chase pre-approvals. They're pretty good. Yes, it's true that sometimes they don't show cards even when your profile is great and you'd get the card by cold app, but for many here the pre-app page has been consistent. I got a CSP pre-qual after I had the Freedom for 8 months and Slate for 6. My Freedom limit was $500, Slate was $1,000, and CSP was $6,700.

(4) Not guaranteed, but try to get the score above 700. I'd say that your scores are on the lower side for CSP. Again, YMMV.

Thanks for this helpful outline!

1) Yes, the Cap1 is on credit steps and got an increase a few months ago. I actually hit the love button and was denied due to asking for another increase in six months. How do I reach the EO?

2) That is a sweet increase that your friend got, and this is a good plan to note! I have stopped making minumum payments since I was younger and more irresponsible with credit (I say that like it wasn't just 3-4 years ago). I think my statement just cut at $1.3K usage, but I put $600 down, so I can easily rack that back up closer to my limit

3) That is a nice SL for the CSP! I hear in branches you can also ask, and ideally I'd like a SL above the $5k as well. But that's in a perfect world.

4) That's the goal, and I feel like I'm so close, considering I was in the 500s late 2014 when I first started looking at my FAKO scores.

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 19:33:25 GMT

@JSS3 wrote:
Don't request a CLI on the Freedom. It will result in a hard pull with most likely unsatisfactory results.

Use your Freedom and get another non-Chase card up to 5,000(Synch) for a year. Then revisit the CSP.

Any that you suggest? I am more interested in the hotel/airline cards if anything, but I'm really not trying to have too many cards. I really only apped for the Freedom because of the 5x on restaurants that they're currently having, but I would do away with all of my credit lines if I could just simplify it down to one card.

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 19:37:30 GMT

@Anonymous wrote:
My experience with chase is this. I got a freedom with a 1K line in June 2012 and had one $200 bump a couple of years ago. HP's for CLI's came to nothing. I got an amazon in March 2014 for $3500. I have checking and savings, a 2011 paid car loan and direct deposit all through Chase. In December I received a preapproval for CSP and obtained a card with a $5K CL. I have lots of baddies that are now aging (most recent Sept 2013). I've never been late or anything with chase. I think you need some history (say, six months with the freedom) and maybe open up a checking account if chase is near you before going after CSP. I wouldn't have it if I didn't have years of good history with the bank since my overall history is not good. It is improving at age 54. Today I was approved for a $15K AMEX everday card that offers 0% interest. I thought about slate but they give small limits and I can't do a balance transfer from another chase card to slate. I was denied ED only last August, so things can change. I'd give yourself some time and enjoy your Freedom.

Thanks for writing out your history, and I feel that's how I'm learning the most!

I just switched my checking/savings to Chase a few months ago, and I don't plan on apping for the CSP until at least October/November (so I can try and rack up those 40k bonus points with Christmas presents and hotels).

Re: Really want the CSP...

JSS3 — Sat, 16 May 2015 19:39:33 GMT

Oh... if you ideally want a couple of cards, which fit your spending, then scratch the Synch. Only recommended it because it's fairly easy to get to 5,000. That would be it's main purpose.

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 19:40:52 GMT

@JSS3 wrote:
Oh... if you ideally want a couple of cards, which fit your spending, then scratch the Synch. Only recommended it because it's fairly easy to get to 5,000. That would be it's main purpose.

I'm curious, though. What is it exactly? I just tried to google it, but no dice.

Re: Really want the CSP...

JSS3 — Sat, 16 May 2015 19:44:07 GMT

Any Synchrony(formerly GECRB) cards. Ie. Walmart, Amazon store, Paypal Extras Mastercard, Ebay Mastercard, etc.

Re: Really want the CSP...

Ghoshida — Sat, 16 May 2015 19:47:02 GMT

@Anonymous wrote:
@Ghoshida wrote:
Good that you have done your cost-benefit analysis on the CSP and you know it's useful.

Now, you need to do a few things:

(1) Get a CLI on that Cap One. I'm guessing it's older than the Freedom. Is it on the credit steps program? If yes, has it become 6 months old yet? If neither then ask for a CLI online (love button) and then if denied, ask the exec office for raising it to $8-10k, they'll counter, and you'll get closer to $5k. Getting a CLI from Cap One is easier than getting one from Chase.

(2) Don't push the love button on Freedom. First, they don't have one. Second, they'll ask for a HP (that isn't half bad) and then mostly either decline or give you some paltry $500 (majority experience, there are rare success stories). What you should do is to push the limit of the card and then pay - make sure to pay multiple times the minimum at least, and better if PIF. Chase may not like util on others' cards but loves to see use on its own cards; my friend got a CLI from $5.5k to $10k with a $4k balance on his Freedom.

(3) Keep checking for Chase pre-approvals. They're pretty good. Yes, it's true that sometimes they don't show cards even when your profile is great and you'd get the card by cold app, but for many here the pre-app page has been consistent. I got a CSP pre-qual after I had the Freedom for 8 months and Slate for 6. My Freedom limit was $500, Slate was $1,000, and CSP was $6,700.

(4) Not guaranteed, but try to get the score above 700. I'd say that your scores are on the lower side for CSP. Again, YMMV.
Thanks for this helpful outline!

1) Yes, the Cap1 is on credit steps and got an increase a few months ago. I actually hit the love button and was denied due to asking for another increase in six months. How do I reach the EO?

2) That is a sweet increase that your friend got, and this is a good plan to note! I have stopped making minumum payments since I was younger and more irresponsible with credit (I say that like it wasn't just 3-4 years ago). I think my statement just cut at $1.3K usage, but I put $600 down, so I can easily rack that back up closer to my limit

3) That is a nice SL for the CSP! I hear in branches you can also ask, and ideally I'd like a SL above the $5k as well. But that's in a perfect world.

4) That's the goal, and I feel like I'm so close, considering I was in the 500s late 2014 when I first started looking at my FAKO scores.

(1) For me, contacting them on social media with a brief description of what I wanted and my phone #. Their social media reps were very friendly and put an EO person in touch with me. Sometimes using old school email may also work. Try searching on Google; rules here are strict about posting email ids

However, I'd personally say it's better to wait out the 6 month period unless you're in a big hurry; seems like you'll be there before the Freedom gets to 6 months. In any case Cap One love button works only like 0.5% of the times so be ready to contact EO. They are sometimes hard on the 6 month between CLI criterion.

(2) Yes, only min payment is never a good idea. Don't micromanage but pay off as much as you can if not PIF. Under some circumstances, using the 0% APR for multiple months could be a good idea but I won't suggest that to you because (a) too small limit, Chase might question your credit profile if you can't pay off every month and (b) you want a CSP so you would not like to carry balance over multiple months.

(3) The lowest CL for CSP is $5k. I was hoping Chase will be a bit more generous but I think they were a bit sceptic about my profile; I wasn't PIF-ing for almost a year previous to that. I had legit reasons not to; but that takes a toll on the profile. Anyway, now I have hit an internal limit with Chase with my 3 cards so I don't expect a CLI in future.

(4) Good luck with it. As others mentioned, goodwill may be very handy. Try the rebuilding forum here, very useful.

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 19:59:05 GMT

@JSS3 wrote:
Any Synchrony(formerly GECRB) cards. Ie. Walmart, Amazon store, Paypal Extras Mastercard, Ebay Mastercard, etc.

Got it... So they are still store cards, it seems.

Re: Really want the CSP...

JSS3 — Sat, 16 May 2015 20:02:58 GMT

Hopefully, you get a cobranded card upon approval. I can use my Paypal and Walmart cards anywhere Mastercard is accepted. These cards are really for utilization and backups.

Re: Really want the CSP...

Anonymous — Sat, 16 May 2015 20:39:47 GMT

Synchrony (lowes) after approval call immediately ask for 25k.... Your home gardening.... And then gardening for real lol