topic Re: Stay in garden or App for CSP? in Credit Cards

Stay in garden or App for CSP?

Bmn5940 — Thu, 13 Jun 2019 08:39:28 GMT

Hello everyone,

It's been awhile since I've been on the forums as I've been staying hard in the garden and didn't want any posts to temp me out of it. I'm trying to get some opinions on whether my chances for CSP are good or not. My current score via Citi Bank Fico is 758 (not sure of the others or what bureu Citi pulls) but credit Karma say:

Transunion

757
7 hard inquries (latest one July 2018 discover student loan)
utilization at 3%
no lates no misses

Equifax

759
7 hard inquires (latest one July 2018 discover student loan)
utilization at 3%
no lates no misses

With the stats above and no new credit card accounts since August 2018 (became AU on AMEX cash magnet) do I stand a chance with the CSP? I've had a Chase FU for about two years now the limit has been stuck at $500, I recently opened a college checking with chase for thr $100 offer and because I moved to California for the Summer for an Internship. My current income is about 70k-80k a year (depends on how much I work during school semesters). My highest card is the AMEX Cash Magnet at $6000, then Citi TYP at $2600(just got soft pull increase TODAY!!!), Cap One QS $2300, AMEX BCE $1500, Chase FU $500. With all this what are my chances at a CSP, I travel so much throughout the school year and this card would help waive young renters fees on cars and would let me rack up points for flights. Just since May I've flown accross the country 7 times and the CSP would've been great to have. Also I know about the Chase 24/5 rule do student loan accounts count for towards that rule?

Thank you!

Re: Stay in garden or App for CSP?

VanderSnoot — Thu, 13 Jun 2019 10:25:58 GMT

Since you already have a relationship with Chase, log in and check your offers, and see if CSP has a green checkmark. If it does, then go for it. If not, are you near a branch? You can go in and talk with a rep. In branch offers are also solid. If you're not near a branch, then we need to look at your DPs.

It sounds like you have a thin file, so I'm not the best person to help you analyze your DPs. I'm responding to help the conversation along, but definitely rely on other people over me.

- Credit Karma doesn't give your real FICO scores, and I'm not sure about Citibank. You can get your real scores at creditchecktotal.com for $1 (cancel within the week). In the future, get your reports from annualcreditreport.com. Chase pulled my EQ and EX, but I'm not sure if that's standard for them.

- How many new credit card accounts in the last 24 months? You said 0/10 but that's not how Chase measures it.

- Do you have any delinquencies or derogatory information? I'm asking again because I'm unclear whether you're reporting what CK says in your OP.

Things that help:

- You already have 1 card above $5k.

- You have a two year relationship with Chase. They've gotten to know you, and as long as you always pay on time (and in full, with some caveats) then they probably trust you with more.

Re: Stay in garden or App for CSP?

Anonymous — Thu, 13 Jun 2019 10:54:14 GMT

I know csp is a great looking card, but it is not really a good travel card, earning rate is too low.

You can do better with a Citi premier, or an Amex gold. They have good SUB, less requirement, and better value.

Re: Stay in garden or App for CSP?

Remedios — Thu, 13 Jun 2019 10:56:56 GMT

@Bmn5940 wrote:
Hello everyone,

It's been awhile since I've been on the forums as I've been staying hard in the garden and didn't want any posts to temp me out of it. I'm trying to get some opinions on whether my chances for CSP are good or not. My current score via Citi Bank Fico is 758 (not sure of the others or what bureu Citi pulls) but credit Karma say:
Transunion
757
7 hard inquries (latest one July 2018 discover student loan)
utilization at 3%
no lates no misses
Equifax
759
7 hard inquires (latest one July 2018 discover student loan)
utilization at 3%
no lates no misses
With the stats above and no new credit card accounts since August 2018 (became AU on AMEX cash magnet) do I stand a chance with the CSP? I've had a Chase FU for about two years now the limit has been stuck at $500, I recently opened a college checking with chase for thr $100 offer and because I moved to California for the Summer for an Internship. My current income is about 70k-80k a year (depends on how much I work during school semesters). My highest card is the AMEX Cash Magnet at $6000, then Citi TYP at $2600(just got soft pull increase TODAY!!!), Cap One QS $2300, AMEX BCE $1500, Chase FU $500. With all this what are my chances at a CSP, I travel so much throughout the school year and this card would help waive young renters fees on cars and would let me rack up points for flights. Just since May I've flown accross the country 7 times and the CSP would've been great to have. Also I know about the Chase 24/5 rule do student loan accounts count for towards that rule?

Thank you!

Loans to not count towards 5/24, only revolving credit

If you have no offers in your account, I would go to the branch and see if you have any pre-approvals there.

Even if you dont, it does not mean you cannot do a cold up

Also, have you tried prequal https://www.chase.com/prequalified

I personally think you're fine to apply if you're under 5/24

Re: Stay in garden or App for CSP?

Anonymous — Thu, 13 Jun 2019 12:23:46 GMT

@Anonymous wrote:
I know csp is a great looking card, but it is not really a good travel card, earning rate is too low.

You can do better with a Citi premier, or an Amex gold. They have good SUB, less requirement, and better value.

You might be right on the Citi. That seems to be a pretty good earner, though I know nothing about their Thank You points system. But I prefer the Chase to the Amex for travel. It might earn less, but Chase’s loose definition of travel more than makes up for it. Book directly through a hotel if you want. Grab bonus points on your rental, Uber, or parking while you’re there. The CSP is pretty solid.

OP: My unscientific opinion is that you’d be okay, but follow the good advice already given, and you’ll find out before you hit submit.

Re: Stay in garden or App for CSP?

Bmn5940 — Thu, 13 Jun 2019 19:49:37 GMT

Hey everyone thanks for the replies I'm going to do the $1 credit report when I'm off work today but Citi is reporting 758 FICO From Equifax. Trans union and Equifax stats are coming from credit karma though. The newest credit card account I opened was in August 2018 (AU on Amex) all other credit card accounts were opened between 2016-2017 so I believe I'm clear for 5/24. I am under a mile from a chase branch currently and no I haven't had a green check mark offer from chase ever and I've never had an offer pop up under their prequal link as well. My checking account with them is about a month old. I put decent usage through my FU but it's only $500 limit so I can't even buy a flight, bills etc on it as I do my Amex. I am not interested in the Amex gold simply because in school my work schedule fluctuates and some months I need to leave a balance before I get my paycheck to pay off whatever card I'm using at the time. I've never been late/delinquent, no collections, and pretty thin file (I'm 21). I think I answered everyone's questions and I'll report back with my actual FICO report later today. Thanks everyone!

Re: Stay in garden or App for CSP?

Anonymous — Thu, 13 Jun 2019 19:59:32 GMT

Citi is giving you EQ Bankcard 8 FICO

Amex gives you EX fico 08 https://online.americanexpress.com/myca/creditscore/us/viewScore?request_type=authreg_acctCreditScore&csdeeplink=true&linknav=US-Ser-axpUsefulLinks-cbViewFICOScore&Face=en_US

The only one you're missing is TU but, if the other 2 are in line then you can just avoid the whole CCT issue altogether.

Re: Stay in garden or App for CSP?

Bmn5940 — Thu, 13 Jun 2019 21:01:45 GMT

Thank you! Amex FICO is reporting 769

Re: Stay in garden or App for CSP?

Anonymous — Thu, 13 Jun 2019 21:09:33 GMT

YW!

So, an educated guess would be TU being in the same ballpark.

Re: Stay in garden or App for CSP?

Bmn5940 — Thu, 13 Jun 2019 21:17:47 GMT

Yeah I've been being very "aware" of my credit for the last 2 years because I really want the CSP, payment history 100%, get soft CLI when available, keeping my utilization low but for some reason Chase I feel like hates me no auto increase for 2 years and I've never had a prequal or offer from them and don't want to leave the garden if my chances for CSP is low

Re: Stay in garden or App for CSP?

VanderSnoot — Thu, 13 Jun 2019 21:37:46 GMT

Thanks for the assist, @ObscureExpert. OP - your score is good enough, but Chase may want to see more time and experience, since you've only had the checking account with them for 1 month, and you're an AU on the Amex card (not sure about the others). Definitely go in branch and talk with a rep. Find out what they look for in an app, so even if you don't meet their criteria this year, you will next year. Also, don't be disappointed because you're a great candidate for other travel cards like the WF Propel, so you can still get 3x points with no AF.

EDIT: Chase doesn't hate you. You just have a young account and it sounds like you don't have any cards over $5k (not AU). It takes time to grow, but you're doing everything right. And who knows, maybe the branch will give you a thumbs up?

Re: Stay in garden or App for CSP?

NRB525 — Thu, 13 Jun 2019 22:15:23 GMT

OP have you considered using a HP for a CLI on the CFU? It earns 1.5 UR everywhere, without the AF ( AF not postponed now ) so with a $5k CFU the only bit missing is transfer to partners, but worst case that is resolved when you app CSP... or CSR.

Re: Stay in garden or App for CSP?

Anonymous — Thu, 13 Jun 2019 22:46:18 GMT

@NRB525 wrote:
OP have you considered using a HP for a CLI on the CFU? It earns 1.5 UR everywhere, without the AF ( AF not postponed now ) so with a $5k CFU the only bit missing is transfer to partners, but worst case that is resolved when you app CSP... or CSR.

This is really a good option. It will give chase more spend and they will see how you manage it. Pretty much would throw the door wide open after probably 6mo.

Re: Stay in garden or App for CSP?

SouthJamaica — Thu, 13 Jun 2019 23:01:58 GMT

@Bmn5940 wrote:
Hello everyone,

It's been awhile since I've been on the forums as I've been staying hard in the garden and didn't want any posts to temp me out of it. I'm trying to get some opinions on whether my chances for CSP are good or not. My current score via Citi Bank Fico is 758 (not sure of the others or what bureu Citi pulls) but credit Karma say:
Transunion
757
7 hard inquries (latest one July 2018 discover student loan)
utilization at 3%
no lates no misses
Equifax
759
7 hard inquires (latest one July 2018 discover student loan)
utilization at 3%
no lates no misses
With the stats above and no new credit card accounts since August 2018 (became AU on AMEX cash magnet) do I stand a chance with the CSP? I've had a Chase FU for about two years now the limit has been stuck at $500, I recently opened a college checking with chase for thr $100 offer and because I moved to California for the Summer for an Internship. My current income is about 70k-80k a year (depends on how much I work during school semesters). My highest card is the AMEX Cash Magnet at $6000, then Citi TYP at $2600(just got soft pull increase TODAY!!!), Cap One QS $2300, AMEX BCE $1500, Chase FU $500. With all this what are my chances at a CSP, I travel so much throughout the school year and this card would help waive young renters fees on cars and would let me rack up points for flights. Just since May I've flown accross the country 7 times and the CSP would've been great to have. Also I know about the Chase 24/5 rule do student loan accounts count for towards that rule?

Thank you!

1. Forget the Credit Karma scores, they are meaningless.

2. The Citicard score is valid, it's a FICO Bankcard 8 score based on EQ data. The score is certainly a good enough FICO score for the Chase card.

3. The 5/24 rule just applies to credit cards. You don't say whether you're within 5/24 or not.

4. You don't say whether you have any preapproval for it under "Just for You".

If you're under 5/24, or if you have a preapproval, you might as well go ahead and apply for the CSP.

Re: Stay in garden or App for CSP?

SouthJamaica — Thu, 13 Jun 2019 23:03:55 GMT

@Anonymous wrote:
@Anonymous wrote:
I know csp is a great looking card, but it is not really a good travel card, earning rate is too low.

You can do better with a Citi premier, or an Amex gold. They have good SUB, less requirement, and better value.
You might be right on the Citi. That seems to be a pretty good earner, though I know nothing about their Thank You points system. But I prefer the Chase to the Amex for travel. It might earn less, but Chase’s loose definition of travel more than makes up for it. Book directly through a hotel if you want. Grab bonus points on your rental, Uber, or parking while you’re there. The CSP is pretty solid.

OP: My unscientific opinion is that you’d be okay, but follow the good advice already given, and you’ll find out before you hit submit.

In my opinion the Premier card is an excellent card, and the Thankyou points are great.

Re: Stay in garden or App for CSP?

SouthJamaica — Thu, 13 Jun 2019 23:04:52 GMT

@Bmn5940 wrote:
Hey everyone thanks for the replies I'm going to do the $1 credit report when I'm off work today but Citi is reporting 758 FICO From Equifax. Trans union and Equifax stats are coming from credit karma though. The newest credit card account I opened was in August 2018 (AU on Amex) all other credit card accounts were opened between 2016-2017 so I believe I'm clear for 5/24. I am under a mile from a chase branch currently and no I haven't had a green check mark offer from chase ever and I've never had an offer pop up under their prequal link as well. My checking account with them is about a month old. I put decent usage through my FU but it's only $500 limit so I can't even buy a flight, bills etc on it as I do my Amex. I am not interested in the Amex gold simply because in school my work schedule fluctuates and some months I need to leave a balance before I get my paycheck to pay off whatever card I'm using at the time. I've never been late/delinquent, no collections, and pretty thin file (I'm 21). I think I answered everyone's questions and I'll report back with my actual FICO report later today. Thanks everyone!

I think you're good to go.

Re: Stay in garden or App for CSP?

bourgogne — Thu, 13 Jun 2019 23:59:08 GMT

get a $1 experian trial, refresh all scores and cancel it. look at your accounts, do a sort. make sure you are at 4/24 right now before you throw the switch. other than that you are good I think, you will prob get a low sl because of your short history but its a start. it has primary cdw which is nice and dealing with the sapphire csr's the few times you might have to is a pleasure, they are professionals and not out sourced or have not been for me. I would not care about green checks or a branch, if the card is meant to be a cold app will do the trick. good luck + report back!

Re: Stay in garden or App for CSP?

Bmn5940 — Fri, 14 Jun 2019 01:14:16 GMT

Just for clarification:

FICO 8 EQ: 758
Updated 05/28/19

FICO Amex Score: 769
Updated 05/18/19

Chase 5/24 rule:
1st Card opened: 06/2016
2nd Card opened: 01/2017
3rd Card opened: 01/2017
4th Card opened: 02/2017
5th Card opened: 08/2018
These are all my cards the only other accounts opened within 24 months ago are student loans. So I believe I'm within 5/24 rule and I'm all clear there.

I have none and have never gotten a "just for you" offer besides "refer a friend" and have never gotten an email offer or mail offer from chase. I also have tried checking the chase prequal site and no offers through that link as well.

I'm headed home currently and am going to do the $1 trial just to see where my actual TU is at. Do you think I should app online or in branch? I have a big direct deposit coming tomorrow into my chase checking hoping that will please them

P.S. I only use credit karma because the hard inquires section and accounts section is super helpful keeping track of account dates and all my student loans.

Re: Stay in garden or App for CSP?

bourgogne — Fri, 14 Jun 2019 02:21:07 GMT

they don't care about your deposit. if it were me I would app in branch for sure, you might have a pre-approval and your id is verified by the banker. the app is done on the intranet vs the net. the banker can help you recon on the spot. there is only upsides doing it in branch imo. the only thing you should sleep on is if this is the kind of card you want or need. MR, UR, cash, etc. The WF propel and the uber cards are excellent for what they are. I happen to love all things chase but its in part because its so easy to aim for the right card in my wallet. I am sure there are better cards and combos if one wants to milk it for all it's worth. you have good scores and you have not applied lately, I cannot imagine you not getting anything you seek out, just make sure what you get has purpose or you are just a collector

Re: Stay in garden or App for CSP?

Bmn5940 — Sat, 15 Jun 2019 02:17:18 GMT

Hey everyone so I'm going to try and go to the chase branch tomorrow and see about applying in branch for the CSP. I've never applied in person before do I ask for someone specific or what is the procedure. Anything special I should say or do? I also posted another thread debating if the CSP is the card for me or not. I think it still is but unsure completely as I'm still learning and building.