topic Re: CSP app, now CSR? in Credit Cards

CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 01:54:22 GMT

I just app'ed for the CSP and was instantly approved, and just noticed all the fuss about the CSR. I am thinking of applying since it's clearly better than the CSP for my business travels, but what should I do with the CSP? Any suggestions?

Re: CSP app, now CSR?

Creditplz — Tue, 30 Aug 2016 01:57:42 GMT

You could call and check on a PC? or you can app for the CSR and move the limit over from the CSP to the CSR if you're approved !

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 01:57:43 GMT

@Anonymous wrote:
I just app'ed for the CSP and was instantly approved, and just noticed all the fuss about the CSR. I am thinking of applying since it's clearly better than the CSP for my business travels, but what should I do with the CSP? Any suggestions?

In a month or you can product change to a Freedom or Freedom Unlimited. Or wait a couple months and close the CSP and transfer the limit to the CSR if you are approved. No need to have both cards.

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 01:59:06 GMT

@Creditplz wrote:
You could call and check on a PC? or you can app for the CSR and move the limit over from the CSP to the CSR if you're approved !

The PC idea isnt a great one because he would lose the 100K bonus points.

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 02:03:16 GMT

Welp just approved for CSR with $38,000 limit. I think the transfer would be a good idea!

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 02:05:08 GMT

Okay so if I were to spend to get the points for the CSP, I should close it and transfer the limit to CSR?

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 02:05:36 GMT

The CARD Act would prohibit Chase from product changing you into the Chase Sapphire Reserve until a full twelve months have passed due to the increased Annual Membership Fee.

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 02:16:13 GMT

But after 12 months you could PC it to the Freedom or Freedom U, and get the annual fee refunded inside the first 30 days of it being posted I believe.

* This is what I plan to do

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 02:25:21 GMT

@Anonymous wrote:
Welp just approved for CSR with $38,000 limit. I think the transfer would be a good idea!

Wow... congrats!!

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 02:35:19 GMT

I was approved for the Slate in April 2016 and PC'd it to the FU in June 2016.

But to the OP point you would lose out on the bonus if you PC'd to the CSR.

*edited* Congrats on the new card...

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 03:19:48 GMT

Wait so you App'd and approved for both cards on the same day?

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 04:34:56 GMT

Correct, within an hour of each other

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 04:37:05 GMT

Nice, only counts for one HP...that's the way to do it!

Re: CSP app, now CSR?

newhis — Tue, 30 Aug 2016 12:23:38 GMT

CSP no AF first year, so you have time to get the bonus points. After you get the bonus points you transfer those points to CSR.

Then you can PC to other product or transfer the limit and close the card.

Congrats.

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 12:25:08 GMT

Thanks!

Re: CSP app, now CSR?

takeshi74 — Tue, 30 Aug 2016 12:26:21 GMT

@Anonymous wrote:
Wait so you App'd and approved for both cards on the same day?

It can certainly happen for one with a sufficiently strong credit profile. I didn't app same day but within a day of each other for a couple of Chase cards.

Re: CSP app, now CSR?

Xistaben2 — Tue, 30 Aug 2016 14:29:48 GMT

See that's the way to do it. Get the spend and bonus for both then PC the CSP to a Freedom or Freedom Unlimited if you have the Freedom.

Congrats!

Re: CSP app, now CSR?

garagebandking — Tue, 30 Aug 2016 17:19:52 GMT

Congrats OP.

I'd hit the spend bonus on the CSP and the CSR then either roll the CSP limit into the CSR...or consider PC to a Freedom (the rotating 5x categories are cool if you don't mind sock drawering the card for months at a time).

Re: CSP app, now CSR?

Anonymous — Tue, 30 Aug 2016 17:20:55 GMT

Thanks! I planned to do that. Now just the long wait begins....