topic Re: How to get CSP!? Need helpful advice in Credit Cards

How to get CSP!? Need helpful advice

Anonymous — Fri, 04 Apr 2014 06:37:18 GMT

Hello all,
Limits:
Us bank visa 3k
Us bank loan 1,500 ( paid off )
Capone MasterCard 1,500
Bank of America visa 500
American Express green card

Transunion 700

AAOA 4 years
Oldest account 6 years
Overall utilization. 50%

Income 40k

I'm worried I will get declined because I don't have a visa signature card and never had a 5k card.. Any advise or tips please

Re: How to get CSP!? Need helpful advice

Anonymous — Fri, 04 Apr 2014 06:37:41 GMT

Age: 26

Re: How to get CSP!? Need helpful advice

12njoy — Fri, 04 Apr 2014 06:59:21 GMT

@Anonymous wrote:
Hello all,
Limits:
Us bank visa 3k
Us bank loan 1,500 ( paid off )
Capone MasterCard 1,500
Bank of America visa 500
American Express green card

Transunion 700

AAOA 4 years
Oldest account 6 years
Overall utilization. 50%

Income 40k

I'm worried I will get declined because I don't have a visa signature card and never had a 5k card.. Any advise or tips please

I'm no expert here, but I think you may want to lower your utilization. I would probably suggest the Freedom or Slate to start with. I started with a Freedom in March 2013 which I had to recon to get approved for $500. Kept this card until almost September 2013 and closed. Applied for Chase Slate in October 2013 and approved for $2,500. Requested cli on Slate in January 2014 with HP approved to $5,000. Applied for Chase Southwest Visa Signature on March 5, 2014 and approved for $5,000. Tried for CSP a couple days ago and was denied. However, called backdoor number and they closed Slate for me and opened CSP and will give me the sign up bonus. All of this and I had an old BK with Chase which they still remember. I would start with a Freedom or Slate and establish a little history with them and then go for the CSP.

Re: How to get CSP!? Need helpful advice

12njoy — Fri, 04 Apr 2014 07:01:36 GMT

Also, here in Ohio they seem to pull Equifax. At least for me anyway.

Re: How to get CSP!? Need helpful advice

Anonymous — Fri, 04 Apr 2014 07:02:40 GMT

Yea I can lower my utilization.. Seems like people start with the freedom..

Re: How to get CSP!? Need helpful advice

Anonymous — Fri, 04 Apr 2014 07:05:53 GMT

What's a good utilization to be at ? Obviously 0, but I can't pay it off all as of right now lol

Re: How to get CSP!? Need helpful advice

ftomasze — Fri, 04 Apr 2014 08:12:24 GMT

Hey -- With no prior relationship with Chase, no cards under $5K, and high utilization...I would steer clear of the CSP for awhile. As the poster before me said I would probably be in your best interest to build a relationship with Chase by starting out with a Freedom. Unless you need the Slate for a BT the card, IMO, is useless. I would open up a checking with them as well, if you have the ability to meet the requirements to have the fee waived for the extra 10% points on the Freedom.

Re: How to get CSP!? Need helpful advice

Anonymous — Fri, 04 Apr 2014 08:13:06 GMT

$0 on all cards except for 1 card, util between 1 - 9%

Re: How to get CSP!? Need helpful advice

ftomasze — Fri, 04 Apr 2014 08:14:32 GMT

Also, another word of advice. Lowering your utilization will aid in meeting the minimum spend on the CSP indirectly by not having to worry about paying other cards while trying to do it.

Re: How to get CSP!? Need helpful advice

B335is — Fri, 04 Apr 2014 22:40:27 GMT

Of your cards BoA has the best chance of getting to $5k if you are willing to take HP. US Bank will take awhile. I took a different route in getting a GE backed card and calling Credit Solutions which only took a few months to accomplish.

Re: How to get CSP!? Need helpful advice

Creditaddict — Fri, 04 Apr 2014 22:45:05 GMT

This CSP thing is way over thought, like an Amex... it's not that hard to get.

but I would get Util down in the 20's at least.

Re: How to get CSP!? Need helpful advice

CreditScholar — Sat, 05 Apr 2014 02:13:33 GMT

Why do you want a CSP anyways?

Re: How to get CSP!? Need helpful advice

Stralem — Sat, 05 Apr 2014 02:23:44 GMT

Guys. You don't *need* an existing $5000 line to qualify. Where did this rumor even come from?

While there may be cards out there that do have that as a hard requirement, the CSP isn't one of them.

Re: How to get CSP!? Need helpful advice

ak_7vytr0 — Sat, 05 Apr 2014 02:34:20 GMT

@Stralem wrote:
Guys. You don't *need* an existing $5000 line to qualify. Where did this rumor even come from?

While there may be cards out there that do have that as a hard requirement, the CSP isn't one of them.

plus one to this.. i opened my freedom with 3500 limit dec 2013.. highest limit and first card in years ( nearly a decade ) two months later apped and approved for the csp with the starting 5k limit.

Re: How to get CSP!? Need helpful advice

ak_7vytr0 — Sat, 05 Apr 2014 02:38:25 GMT

only advice i'd give.. while i'm far from a credit expert i do have a freedom and csp.. get ur util down a bit. as others have said.

Re: How to get CSP!? Need helpful advice

mirachi — Sat, 05 Apr 2014 02:49:00 GMT

@ak_7vytr0 wrote:
@Stralem wrote:
Guys. You don't *need* an existing $5000 line to qualify. Where did this rumor even come from?

While there may be cards out there that do have that as a hard requirement, the CSP isn't one of them.
plus one to this.. i opened my freedom with 3500 limit dec 2013.. highest limit and first card in years ( nearly a decade ) two months later apped and approved for the csp with the starting 5k limit.

+2 I've seen at least two people who don't have pre-existing 5000 lines and get approved for the CSP (in fact, I do believe right after approval of the CSP, they asked for CLI on their Freedom...and was granted an overall CL of....$1800

Both did have at least 6 months on another Chase card (Freedom or Slate) and have the CSP show up on the preapproval page

Interestingly enough, with a very small sample size of 5 people, those who had another Chase card (regardless of credit history) had at least one pre-approval from Chase; those who did not, had nothing show up for them (of course, that is not to say that Chase won't approve but just nothing showed on the pre-approval page)

My recommendation is to try for a Freedom (or Slate), use it and pay on time, and check periodically for a pre-approval from Chase for CSP (+ decrease in UTIL before apping wouldn't hurt too)

Good luck!

Re: How to get CSP!? Need helpful advice

ficobgtx — Sat, 05 Apr 2014 02:56:00 GMT

@CreditScholar wrote:
Why do you want a CSP anyways?

^ this. At 26, why do you need a CSP? Are you looking to travel a lot in up front/upstairs? If not I would look for a good cash back card (fidelity amex, arrival, IT, freedom... Maybe venture).

And yes, I consider those cash back cards because that is essentially what they are.

Re: How to get CSP!? Need helpful advice

Anonymous — Sat, 05 Apr 2014 03:36:53 GMT

Why would the boa be the best chance of getting a line increase?

Re: How to get CSP!? Need helpful advice

Anonymous — Sat, 05 Apr 2014 03:40:18 GMT

I would like a csp because of better travel points.. I pay 95 for amex

Re: How to get CSP!? Need helpful advice

Anonymous — Sat, 05 Apr 2014 03:40:54 GMT

Should I try to apply for csp first... And if Denied apply for freedom? Or freedom first