topic Re: CSP & Amex in Credit Cards

CSP & Amex

Genkeim — Fri, 21 Mar 2014 19:44:46 GMT

Short recap. Looking to get a CSP with a $5k CL. Going to be buying an engagement ring and would like to use that to meet spending requirement on the CSP and get some UR points.

In Feb I Applied for a Freedom and BCE, Freedom was approved for $1k on recon, BCE was instant $2k approval, MSD changed to 1990. Navy nRewards was PC to Visa Signature cashRewards with $8.5k CL. Car loan with Ford Motor Credit was also added in Feb. Closed CreditOne ($400 CL) and Cap One Secured ($400 CL). Also opened a Chase checking acount for the UR bonus. (Was a busy month!)

Current cards with CL

Wal-Mart $800

Discover $800

Freedom $1000

BCE $2000

NFCU VS cashRewards $8500

Util is ~1%

Prior to the Amex change my AAoA is just under a year, after it should be just over 3 years.

As of today, neither the Freedom or BCE have shown up on my reports. The BCE just cut a statement yesterday, I left $30 on it hoping it would get reported sooner than the 2 months I've seen in other threads. The cashRewards card with the new $8.5k limit showed up on the reports today.

Would it benefit me to try to pick up an additional Amex card for the AAoA boost? I'm figuring it would move my AAoA to around 6 years. Pretty sure I should let the Freedom age at least 3 months to build up some internal scoring with Chase before apping for the CSP. I'm not very good at waiting so trying to figure out if there's anything else I can do to improve my approval chances, not sure if the added inq (assuming I'd get the Amex card) would outweigh the extra 3 years on the AAoA.

Re: CSP & Amex

twist7d7 — Fri, 21 Mar 2014 19:52:18 GMT

I feel like having a Charge card is good for everyone.

Re: CSP & Amex

Stralem — Fri, 21 Mar 2014 20:00:20 GMT

I think it's all about that internal scoring. I was approved for my CSP with a thinner file than yours with an AAoA of just over a year. 57% util.

But.

I've had the Freedom for a year, and have both a checking ans savings account with Chase. Additional aging by way of another Amex probably won't help much if any, in my barely salient opinion. It's just a matter of building some history with that new Freedom and checking account.

Honestly, if that Freedom wasn't so brand spanking new, I think you could have applied now with a decent chance of approval.

Re: CSP & Amex

-NewGuy- — Fri, 21 Mar 2014 20:32:59 GMT

@Stralem wrote:
I think it's all about that internal scoring. I was approved for my CSP with a thinner file than yours with an AAoA of just over a year. 57% util.

But.

I've had the Freedom for a year, and have both a checking ans savings account with Chase. Additional aging by way of another Amex probably won't help much if any, in my barely salient opinion. It's just a matter of building some history with that new Freedom and checking account.

Honestly, if that Freedom wasn't so brand spanking new, I think you could have applied now with a decent chance of approval.

I would agree. I don't think that you need another new TL right now, you have more than enough. I would build your relationship by taking proper care of your Freedom and checking account.

Re: CSP & Amex

newUser0 — Fri, 21 Mar 2014 20:50:42 GMT

In my view, you got a low CL of $1K on Freedom, by which I assume, you should build more history with chase first.

If you have got, like 3-4K, Then, you could have easily got CSP, atleast on recon by moving some of the Freedom CL.

Re: CSP & Amex

Hockeyplayrr — Sat, 22 Mar 2014 01:18:32 GMT

I would just build history with chase. Last june I was approved for a freedom with a $700 limit. Barely used it and that november was approved for a marriott card at 5k and just this week a csp at 5k. they seem to value relationship alot.