topic Re: CSP in Credit Cards

CSP

twist7d7 — Wed, 05 Mar 2014 01:15:17 GMT

So it looks like my next app will be a CSP provided that i can down grade to a non perfered card in 11 months. Im going to wait for my scores to be north of 720 to app. How hard is chase going to fight me on the downgrade? I should only run about 4k through the card in a year. but i figured i would get the signup bonus of the perfered and then downgrade. what do we think of this plan?

Re: CSP

gdale6 — Wed, 05 Mar 2014 01:17:34 GMT

Go for it I see quite a few posts about people doing what you want to do though most of them downgrade it when the AF comes due. Good luck

Re: CSP

twist7d7 — Wed, 05 Mar 2014 01:19:27 GMT

my TU score is 680 now do you think i will be good will 700? i also think my AAoA is holding me back. i know that i need to be able to be approved for a 5k limit. FYI im not preaproved ATM.

Re: CSP

twist7d7 — Wed, 05 Mar 2014 01:37:48 GMT

also is chase ok with inqurs i have a few.

Re: CSP

bigbang91 — Wed, 05 Mar 2014 04:09:50 GMT

@twist7d7 wrote:
also is chase ok with inqurs i have a few.

I just got approved on Feb 10 with 7 inqs and 4 new accounts in the last 6 months

Re: CSP

twist7d7 — Wed, 05 Mar 2014 13:44:10 GMT

What was your AAoA

Re: CSP

takeshi74 — Wed, 05 Mar 2014 13:45:10 GMT

@twist7d7 wrote:
my TU score is 680 now do you think i will be good will 700?

It's never just a matter of one factor such as score. Consider you entire credit picture.

Re: CSP

twist7d7 — Wed, 05 Mar 2014 14:37:47 GMT

takeshi74 wrote:

twist7d7 wrote:

my TU score is 680 now do you think i will be good will 700?

It's never just a matter of one factor such as score. Consider you entire credit picture.

Trying to, but i dont know how mine will look to chase.

Re: CSP

yudeology101 — Wed, 05 Mar 2014 15:08:32 GMT

@takeshi74 wrote:
@twist7d7 wrote:
my TU score is 680 now do you think i will be good will 700?
It's never just a matter of one factor such as score. Consider you entire credit picture.

+1.

Chase will also look at your income + overall UTIL. Your TU score looks good, but Chase also likes pulling EX so make sure your EX score is somewhat higher/matching.

Re: CSP

bigbang91 — Wed, 05 Mar 2014 23:56:35 GMT

@twist7d7 wrote:
What was your AAoA

Assuming u asked me, 10 months

Re: CSP

afinch1992 — Thu, 06 Mar 2014 00:21:48 GMT

@bigbang91 wrote:
@twist7d7 wrote:
What was your AAoA
Assuming u asked me, 10 months

wow, thats impressive for an approval. like everyones said its a full picture deal

Re: CSP

twist7d7 — Thu, 06 Mar 2014 00:48:12 GMT

This sounds good for me. im hopeing to get this card in 3 months or so. i want it before i go on summer trips.

Re: CSP

bigbang91 — Thu, 06 Mar 2014 03:26:59 GMT

@twist7d7 wrote:
This sounds good for me. im hopeing to get this card in 3 months or so. i want it before i go on summer trips.

It helps if you have banking relationship with Chase and have over 10k in the checking account at the time you apply. I use this tactic to get approved for my chase united card,even though at the time all i have on my credit profile was a WF secured card for 300$,still got approved. And within 6 months, i app 2 more cards with chase,all approved with total CLI now at 24k

Re: CSP

Anonymous — Thu, 06 Mar 2014 03:59:32 GMT

I applied for the CSP last night was approved. I also wasn't pre-qualified for it but took the chance. I've had my Freedom card for 3 months and it's limit is over $5000. I believe they sometimes look for experience with a card with a limit over 5k.

My score at the time of app was around 710 for what it's worth.

Re: CSP

twist7d7 — Thu, 06 Mar 2014 04:01:07 GMT

@Anonymous wrote:
I applied for the CSP last night was approved. I also wasn't pre-qualified for it but took the chance. I've had my Freedom card for 3 months and it's limit is over $5000. I believe they sometimes look for experience with a card with a limit over 5k.

My score at the time of app was around 710 for what it's worth.

Thank you! How does your income stack up against mine?

Re: CSP

twist7d7 — Thu, 06 Mar 2014 04:27:09 GMT

would it be a good idea to app for Freedom in 3 months and then app for CSP in 9 months? I know the two cards are a great pair but i think i would use my discover It over the Freedom. if i app for the CSP and get declined can i swtich to the Freedom? that would be idea and take some of the stress out of it.

Re: CSP

Anonymous — Thu, 06 Mar 2014 06:05:33 GMT

@twist7d7 wrote:
would it be a good idea to app for Freedom in 3 months and then app for CSP in 9 months? I know the two cards are a great pair but i think i would use my discover It over the Freedom. if i app for the CSP and get declined can i swtich to the Freedom? that would be idea and take some of the stress out of it.

I assume that it wouldn't hurt to have the Freedom and get your foot in the door prior to CSP, but YMMV. I app'd for the CSP because I'm doing some traveling in the coming months and some of it is international so I wanted a no FTF card.

If you app for the CSP and get denied and want the Freedom, it's an entirely different application/HP AFAIK.

Re: CSP

twist7d7 — Thu, 06 Mar 2014 21:48:40 GMT

I think my plans have changed (unless preaprovals change) is to get the freedom in 3 months. then use it for 9 months or so and get the CSP. Then I will have both and ive heard the two cards are a great pair. guess ill be using the amex gold for summer travels.

Re: CSP

Lin55 — Thu, 06 Mar 2014 21:54:17 GMT

OP, here are my stats when I got approved exactly 1 month ago: http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/CSP-Approval-36-UTIL/td-p/2775893

Hopefully it will be of some help.

I was instantly approved for CSP and UA Explorer for $12K CL each on the same day with 1 HP.

ETA: I was not pre-approved for either card at the time of application.

Re: CSP

twist7d7 — Thu, 06 Mar 2014 22:00:33 GMT

@Lin55 wrote:
OP, here are my stats when I got approved exactly 1 month ago: http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/CSP-Approval-36-UTIL/td-p/2775893

Hopefully it will be of some help.

I was instantly approved for CSP and UA Explorer for $12K CL each on the same day with 1 HP.

ETA: I was not pre-approved for either card at the time of application.

That is helpful Thank you!