topic Re: Pre-selected CSP 80k offer in Credit Cards

Pre-selected CSP 80k offer

quikj9 — Fri, 28 Feb 2020 03:02:30 GMT

DM was approved last week for a CFU, her first Chase CC with a $4500 SL, still waiting on the card. She just got a Chase mailer for the CSP today with the 80,000 bonus point targeted offer. It has a set APR and says that she has to respond by April 6th.

Her EX FICO is 706, but should go up quite a bit next month as she's cutting her utilization by a significant amount.

Is that too soon to apply for her 2nd Chase card? The bonus is obviously doing a great job of being enticing. I've just heard that Chase can be a conservative lender.

Re: Pre-selected CSP 80k offer

FinStar — Fri, 28 Feb 2020 03:13:07 GMT

IMO, yes probably way too soon to chase another one! *pun intended*

Is not so much that they are conservative, it's the fact that AA has been known to happen based on reported instances. It could be that maybe nothing happens, but I wouldn't risk it personally. That all depends on her tolerance for risk.

Re: Pre-selected CSP 80k offer

Remedios — Fri, 28 Feb 2020 03:14:35 GMT

How long does she have to respond?

Re: Pre-selected CSP 80k offer

quikj9 — Fri, 28 Feb 2020 03:19:03 GMT

I see what you did there... Thanks for the advice. I wouldn't want her to incur any AA. She's got her eye on an Ink Preferred down the road.

Re: Pre-selected CSP 80k offer

quikj9 — Fri, 28 Feb 2020 03:19:38 GMT

She has until April 6th to respond.

Re: Pre-selected CSP 80k offer

Remedios — Fri, 28 Feb 2020 03:25:11 GMT

Close, but might be doable unless Ink is of higher importance, and she's not over 5/24

My cautious self wants to tell you not to, but I'd be all over it. 🤷‍♀️

It's risky but 80K...

Re: Pre-selected CSP 80k offer

simplynoir — Fri, 28 Feb 2020 03:39:28 GMT

By any chance do you already have your own CSP? A simple referral of 15k to go with the normal 60k SUB will make it only 5k short and you two can put it on the backburner while going after a SUB which won't count against 5/24 if she's already under it at the present time

Re: Pre-selected CSP 80k offer

Anonymous — Fri, 28 Feb 2020 03:41:38 GMT

@FinStar wrote:
IMO, yes probably way too soon to chase another one! *pun intended*

Is not so much that they are conservative, it's the fact that AA has been known to happen based on reported instances. It could be that maybe nothing happens, but I wouldn't risk it personally. That all depends on her tolerance for risk.

I agree with this. What I've seen in some cases, AA is more likely in general even with good scores (700s), but not great scores (800s), but of course YMMV. Given her score, I wouldn't try it. With an 806 score, I (me, not her) probably would go for it.

Re: Pre-selected CSP 80k offer

Brian_Earl_Spilner — Fri, 28 Feb 2020 03:55:14 GMT

Did you seriously just clarify that your use of "I" meant you, not her?

Re: Pre-selected CSP 80k offer

Anonymous — Fri, 28 Feb 2020 04:00:43 GMT

@Brian_Earl_Spilner wrote:
Did you seriously just clarify that your use of "I" meant you, not her?

No. I suggested that I would probably do it, but I'm not suggesting that she should do it (assuming the same scores) as others have different risk tolerances and might incur more harm to the credit report than I would. My HPs are very low.

Re: Pre-selected CSP 80k offer

quikj9 — Fri, 28 Feb 2020 04:03:18 GMT

@simplynoir wrote:
By any chance do you already have your own CSP? A simple referral of 15k to go with the normal 60k SUB will make it only 5k short and you two can put it on the backburner while going after a SUB which won't count against 5/24 if she's already under it at the present time

I don't have a CSP. Currently rebuilding and won't qualify for some time. Great idea though.

Re: Pre-selected CSP 80k offer

Remedios — Fri, 28 Feb 2020 04:05:57 GMT

@Anonymous wrote:
@Brian_Earl_Spilner wrote:
Did you seriously just clarify that your use of "I" meant you, not her?
No. I suggested that I would probably do it, but I'm not suggesting that she should do it (assuming the same scores) as others have different risk tolerances and might incur more harm to the credit report than I would. My HPs are very low.

Have I missed the part where OP stated hers are high?

Re: Pre-selected CSP 80k offer

Anonymous — Fri, 28 Feb 2020 04:19:15 GMT

@Remedios wrote:
@Anonymous wrote:
@Brian_Earl_Spilner wrote:
Did you seriously just clarify that your use of "I" meant you, not her?
No. I suggested that I would probably do it, but I'm not suggesting that she should do it (assuming the same scores) as others have different risk tolerances and might incur more harm to the credit report than I would. My HPs are very low.
Have I missed the part where OP stated hers are high?

No. I don't know what her HPs are. The point was risk tolerance. I just took a HP from Chase less than a week ago and would not think twice taking another right now if I wanted the card.

Its apparent from OP that the risk is not something she would want to incur currently. I personally would not care. If I got denied and wasted a HP on the card, no problem. She may not feel the same.

Re: Pre-selected CSP 80k offer

coreysw12 — Fri, 28 Feb 2020 04:46:45 GMT

I got approved for both the CFU and CSP on the same day, they even shared the one HP. But (and this is a BIG "but") I don't think that's common, and wouldn't recommend others try that. I wouldn't have tried if I knew then what I know now about Chase, but I didn't know any better at the time, and just went for it, and got lucky.

Re: Pre-selected CSP 80k offer

seattletravels — Fri, 28 Feb 2020 12:16:50 GMT

Let her scores go up once her utilization drops (as you indicated) and then I would go for it, assuming she has low INQ and is under 5/24.