topic Re: Chase PC from Slate to CSP questions. in Credit Cards

Chase PC from Slate to CSP questions.

lmashimaru — Sun, 19 Jan 2014 15:12:34 GMT

Greetings everyone!

This post for my girlfriend who is considering a CSP.

She currently has 700-750 across all 3 reports, a medical graduate student, and has 2 credit cards currently.

I would say her loans give her 30k of income.

Her two credit cards currently are a Chase Slate, and a 1st financial bank. The Slate has a $2,900 CL with $2,500 on the card. The 1st Financial has a $10,000 balance and a 0 balance. Shes interested in getting a CSP. Would it be best for her to request a product change or simply apply for a CSP? Also what are her chances of getting a PC or a new CSP?

Thanks!

Re: Chase PC from Slate to CSP questions.

AyalaZero — Sun, 19 Jan 2014 15:31:40 GMT

Good morning!! Her scores are a definate plus. Chase like to keep people in their loop, if she's had the Slate for over 6 months, I'd say her odds of approval are great! Good luck!

Re: Chase PC from Slate to CSP questions.

Kenny — Sun, 19 Jan 2014 16:06:28 GMT

App, IMO.. especially if she has that much on the card. (If those are the only options.)

The PC from Slate to CSP may not even be an option, so an application would probably be better especially because she's probably young, as well. (Might as well get the TLs while young and keep them throughout your life. )

Re: Chase PC from Slate to CSP questions.

Anonymous — Sun, 19 Jan 2014 16:20:54 GMT

A bunch of people on these boards bashed me not too long ago for putting loans as income on CC applications. Tread lightly.

Re: Chase PC from Slate to CSP questions.

Anonymous — Sun, 19 Jan 2014 16:31:17 GMT

@KennyS2006 wrote:
App, IMO.. especially if she has that much on the card. (If those are the only options.)

The PC from Slate to CSP may not even be an option, so an application would probably be better especially because she's probably young, as well. (Might as well get the TLs while young and keep them throughout your life. )

And of course apping will allow her to get the bonus (40K UL) which wouldn't be the case with PC. Also, if she was able to PC, what would she do with the balance, don't the CSP has a 0% offer for transfers.

Re: Chase PC from Slate to CSP questions.

Anonymous — Sun, 19 Jan 2014 17:11:36 GMT

The CSP also has an income requirement somewhere between 25k and 35k. I tried to get the exact number from the phone banker but he wasn't disclosing the exact number. Oh and Chase doesn't do product changes to the sapphire preferred so she would have to apply through the sapphire app directly.

Re: Chase PC from Slate to CSP questions.

Kenny — Sun, 19 Jan 2014 17:11:22 GMT

@Anonymous wrote:
@KennyS2006 wrote:
App, IMO.. especially if she has that much on the card. (If those are the only options.)

The PC from Slate to CSP may not even be an option, so an application would probably be better especially because she's probably young, as well. (Might as well get the TLs while young and keep them throughout your life. )
And of course apping will allow her to get the bonus (40K UL) which wouldn't be the case with PC. Also, if she was able to PC, what would she do with the balance, don't the CSP has a 0% offer for transfers.

Mine didn't, I don't think. I think it's just a flat 15.24% no matter what.

I agree with you regarding the sign up bonus, as well.

Re: Chase PC from Slate to CSP questions.

manwoot — Sun, 19 Jan 2014 17:12:55 GMT

As previously stated, loans are debt, not income.

Re: Chase PC from Slate to CSP questions.

Anonymous — Sun, 19 Jan 2014 17:15:25 GMT

@KennyS2006 wrote:
@Anonymous wrote:
@KennyS2006 wrote:
App, IMO.. especially if she has that much on the card. (If those are the only options.)

The PC from Slate to CSP may not even be an option, so an application would probably be better especially because she's probably young, as well. (Might as well get the TLs while young and keep them throughout your life. )
And of course apping will allow her to get the bonus (40K UL) which wouldn't be the case with PC. Also, if she was able to PC, what would she do with the balance, don't the CSP has a 0% offer for transfers.
Mine didn't, I don't think. I think it's just a flat 15.24% no matter what.

I agree with you regarding the sign up bonus, as well.

The csp doesnt have any offers for balance transfers or purchase apr. In reality the card isn't for people with shallow pockets. (not saying I have deep pockets)

Re: Chase PC from Slate to CSP questions.

Anonymous — Sun, 19 Jan 2014 17:36:45 GMT

@Anonymous wrote:

The csp doesnt have any offers for balance transfers or purchase apr. In reality the card isn't for people with shallow pockets. (not saying I have deep pockets)

If you don't mind opening and closing/PCing a year later, it is for anyone who can meet the minimum spend requirements, just for the bonus. Certainly don't do this on a whole bunch of cards, particularly from one issuer, but this is really worth it.

Re: Chase PC from Slate to CSP questions.

Anonymous — Sun, 19 Jan 2014 17:40:35 GMT

@Anonymous wrote:
@Anonymous wrote:

The csp doesnt have any offers for balance transfers or purchase apr. In reality the card isn't for people with shallow pockets. (not saying I have deep pockets)
If you don't mind opening and closing/PCing a year later, it is for anyone who can meet the minimum spend requirements, just for the bonus. Certainly don't do this on a whole bunch of cards, particularly from one issuer, but this is really worth it.

Yeah I agree with you if you can spend the 3000 in 3 months to get the 40000 points the do it and close it a couple months later. I'm not gonna lie its a heck of a deal. you could even add an authorized user for another 5000 points and the bet part is that they dont have to even use the card.

Re: Chase PC from Slate to CSP questions.

lmashimaru — Sun, 19 Jan 2014 20:11:04 GMT

Thanks for all the replies!

We talked about it and i think she will do a new app for CSP. On paper she does only have 30k in income, but there is income that is not documented (wages under the table from her employer). Also i do help pay the bills, but usually dont include my income since we're not married or anything. She's considering teh CSP because we're planning a trip soon and would love the no FTF and the bonus points when we purchase airline tickets and such.

Agian Thanks for the feedback!

Re: Chase PC from Slate to CSP questions.

Anonymous — Sun, 19 Jan 2014 21:06:07 GMT

@lmashimaru wrote:
Thanks for all the replies!

We talked about it and i think she will do a new app for CSP. On paper she does only have 30k in income, but there is income that is not documented (wages under the table from her employer). Also i do help pay the bills, but usually dont include my income since we're not married or anything. She's considering teh CSP because we're planning a trip soon and would love the no FTF and the bonus points when we purchase airline tickets and such.

Agian Thanks for the feedback!

well let us know if she gets approved and she'll love the physical card once she gets it (because its metal). Also, if she's approved call the chase sapphire call center, yes a real person in the US picks up almost immediately, and tell them to overnight your card.

Re: Chase PC from Slate to CSP questions.

red259 — Sun, 19 Jan 2014 21:07:13 GMT

You would always want to app in this situation in order to get the bonus. The card loses significant value without the initial spend bonus. Hopefully she gets good news on her app.This is not a card she should be carrying a balance on. If she has to carry a balance I would recommend against getting this card since the APR will be fairly high and there are better options out there for that.

Re: Chase PC from Slate to CSP questions.

lmashimaru — Sun, 19 Jan 2014 21:46:43 GMT

I will report back!, but we wont be purchasing the tickets for another month so she probably wont apply till a little before then. She plans on carrying her balance on the slate card since she has a low APR. The CSP would be simply for large purchases we plan on paying for immediately.

Plus her Slate card is still only 8 months old so her intro APR is still in effect. After which ill be paying it immediately for her so shes not carrying a large balance.