topic Re: Apply for CSP or garden? in Credit Cards

Apply for CSP or garden?

Anonymous — Sun, 08 Jul 2012 05:12:58 GMT

I recently applied & was approved for a Zync (npsl), which I received a few days ago. My other credit card is a Citi Dividend Platinum (10k limit) and a Kohl's card (if you want to count that..$700 limit). Balance is always $0 on every account as I pay in full each month. So now, I have 2 "real" credit cards and was wondering if it is right to apply for the CSP or garden my Amex & Citi? Currently have 2 hard inquiries on experian only (**which chase will most likely pull**) and no baddies on any report. Thanks.

Re: Apply for CSP or garden?

trumpet-205 — Sun, 08 Jul 2012 05:26:15 GMT

How is your AAoA? I think you have a chance, given you have a 10K CL from a CC. Chase only hands out CSP when they feel comfortable extending 5K+ credit to you.

Re: Apply for CSP or garden?

Anonymous — Sun, 08 Jul 2012 06:53:38 GMT

Your file is very thin. Csp might be stretch for you. While fico is okay, your credit file might trip one of their hard filters. Still think worth apping for though.

Re: Apply for CSP or garden?

Anonymous — Sun, 08 Jul 2012 07:00:44 GMT

@trumpet-205 wrote:
How is your AAoA? I think you have a chance, given you have a 10K CL from a CC. Chase only hands out CSP when they feel comfortable extending 5K+ credit to you.

AAoA will be 3 years (with the recent Amex app) in a few months. It's 2 years 9 months now. If I was approved for CSP, AAoA drops to 2 years and 2 months.

Re: Apply for CSP or garden?

Anonymous — Sun, 08 Jul 2012 07:04:54 GMT

@Anonymous wrote:
Your file is very thin. Csp might be stretch for you. While fico is okay, your credit file might trip one of their hard filters. Still think worth apping for though.

Thanks for the reply. I have had a Chase premier plus checking account with them for 2 years now, if that helps. I do like the 40k signup bonus (after spending 3k I believe), but I might hold off for now. I don't want to get denied for 2 hard inqs. But, I really do want the card.

Re: Apply for CSP or garden?

Anonymous — Sun, 08 Jul 2012 12:49:19 GMT

I think people are too inquiry sensitive. Fico effects are gone in year. 6 months and most of effects are gone. a couple of inquiries isn't a lot. If you want csp, then go for it. You are close enough that it is worth effort.

Re: Apply for CSP or garden?

Revelate — Sun, 08 Jul 2012 17:25:10 GMT

@Anonymous wrote:
I think people are too inquiry sensitive. Fico effects are gone in year. 6 months and most of effects are gone. a couple of inquiries isn't a lot. If you want csp, then go for it. You are close enough that it is worth effort.

You're not going to get denied for 2 inquiries alone. I agree with Crash's assessment to just go for it: 2 vs 3 inquiries is pretty immaterial, and it's going to age on the same timeline as your Amex inquiry regardless. I'm just making a blithe assumption that you were planning to hang out for another six or twelve months anyway post this round of applications, so who cares as the damage is nearly immaterial at that point even if you do wind up getting denied worst case, and I think you have a decent shot at a CSP,

That two years of Chase checking is nothing but goodness too with Chase's stance on customer loyalty since circa start of this year.

Re: Apply for CSP or garden?

xiownthisplacex — Sun, 08 Jul 2012 18:22:27 GMT

I had 8 inquiries and a 698 EQ when i got my CSP and AAoA was 1yr 3 months. I did have a Chase United 5k limit for about 7 months though and Chase Checking and Savings.

I say go for it, I doubt that they will say no.

Re: Apply for CSP or garden?

webhopper — Sun, 08 Jul 2012 19:33:14 GMT

Chase pulled tu for me, I think you should go for it. Besides, chase doesn't look down on amex, quite the opposite

Re: Apply for CSP or garden?

Open123 — Sun, 08 Jul 2012 23:02:50 GMT

I'd definitely apply.

Inquiries aren't that big of a deal unless it's combined with other derogs of some kind. 2 or 3 isn't much at all. I'd take the risk, especially since the CSP is well worth the price of an inquiry even if you were to be declined. With Chase, you can always recon.

Re: Apply for CSP or garden?

Anonymous — Sun, 08 Jul 2012 23:03:01 GMT

Thanks for the replies. I'm going to apply as soon as my Citi card reports the $10k limit. Right now it is still reporting a $6k limit (got the increase a few weeks ago).

Re: Apply for CSP or garden?

Voodard — Mon, 09 Jul 2012 02:36:36 GMT

Shorefox, I think you should pull your FICO scores for TU and EQ before applying. If you're credit score isn't reporting in the 740~ range you may want to wait a bit longer.

Re: Apply for CSP or garden?

Anonymous — Mon, 09 Jul 2012 04:05:12 GMT

@Voodard wrote:
Shorefox, I think you should pull your FICO scores for TU and EQ before applying. If you're credit score isn't reporting in the 740~ range you may want to wait a bit longer.

Good advice. As soon as my Citi reports as $10k, I will pull my 2 fico's before applying. My EX from my recent AMEX approval was 737..not quite 740, but almost there.