topic Re: CSP Odds in Credit Cards

CSP Odds

Shock — Sat, 05 Apr 2014 03:47:44 GMT

Sorry, another one of these threads I know..but I need the advice!

Inquiries: EX 7 EQ 8 TU 1

1 in the last 6 months on EX (2/2014)

Income. Will probably list 60k. Not sure how much this matters as my friend got a 12k CSP on 12k income. Though his internal score is probably very high.

All major derogs will be gone by February 2015. Only thing left will be 2 30 day lates and 1 60 day. Paid collection falling off this month (TU) and already off EX and EQ.

I want to get a high starting limit, and then reallocate it after a year to my Freedom, or Freedom and my Amazon, if I decide to keep it. Basically doing it for sign up bonus.

Thoughts?

Re: CSP Odds

Creditaddict — Sat, 05 Apr 2014 04:51:45 GMT

@Shock wrote:
Sorry, another one of these threads I know..but I need the advice!

Inquiries: EX 7 EQ 8 TU 1

1 in the last 6 months on EX (2/2014)

Income. Will probably list 60k. Not sure how much this matters as my friend got a 12k CSP on 12k income. Though his internal score is probably very high.

All major derogs will be gone by February 2015. Only thing left will be 2 30 day lates and 1 60 day. Paid collection falling off this month (TU) and already off EX and EQ.

I want to get a high starting limit, and then reallocate it after a year to my Freedom, or Freedom and my Amazon, if I decide to keep it. Basically doing it for sign up bonus.

Thoughts?

80%+ since your current cardholder

Re: CSP Odds

Shock — Sat, 05 Apr 2014 13:12:14 GMT

@Creditaddict wrote:

80%+ since your current cardholder

You think it's that high? Is this percentage for instant approval or recon? My income is going to be a little exaggerated. Will this matter if I have to recon?

I want to wait until my AMEX reports the updated CL and until the quarter is over. I'm going to be milking the 5% on restaurants where a good portion of my spends go!

Re: CSP Odds

B335is — Sat, 05 Apr 2014 14:06:26 GMT

I think you have a good chance. Chase takes existing relationship into account and in my experience their AF cards have been easier for approval than non-AF.

Re: CSP Odds

B335is — Sat, 05 Apr 2014 14:07:15 GMT

What do you mean by exaggerated income?

Re: CSP Odds

yudeology101 — Sat, 05 Apr 2014 15:57:26 GMT

@Shock wrote:
Sorry, another one of these threads I know..but I need the advice!

Inquiries: EX 7 EQ 8 TU 1

1 in the last 6 months on EX (2/2014)

Income. Will probably list 60k. Not sure how much this matters as my friend got a 12k CSP on 12k income. Though his internal score is probably very high.

All major derogs will be gone by February 2015. Only thing left will be 2 30 day lates and 1 60 day. Paid collection falling off this month (TU) and already off EX and EQ.

I want to get a high starting limit, and then reallocate it after a year to my Freedom, or Freedom and my Amazon, if I decide to keep it. Basically doing it for sign up bonus.

Thoughts?

Based on your profile, I, too, think that you have a pretty good chance. However, what's your actual income? Don't exaggerate about your income just to be approved for the card if your income is not $60k, because that's straight up lying. It doesn't matter if your friend got approved for $12k w/ 12k income, that's your friend..not you.

Re: CSP Odds

09Lexie — Sat, 05 Apr 2014 19:19:03 GMT

@Shock wrote:
@Creditaddict wrote:
80%+ since your current cardholder
You think it's that high? Is this percentage for instant approval or recon? My income is going to be a little exaggerated. Will this matter if I have to recon?

I want to wait until my AMEX reports the updated CL and until the quarter is over. I'm going to be milking the 5% on restaurants where a good portion of my spends go!

Do you mine elaborating?

Re: CSP Odds

Shock — Sat, 05 Apr 2014 23:25:40 GMT

As in...I will put 60k, but on my Freedom app, I put 40k

@09Lexie wrote:

Do you mine elaborating?

Re: CSP Odds

Shock — Sat, 05 Apr 2014 23:28:01 GMT

@B335is wrote:
I think you have a good chance. Chase takes existing relationship into account and in my experience their AF cards have been easier for approval than non-AF.

So you think I have a good chance, but it's going to be harder because the CSP has an annuel fee?

Re: CSP Odds

Shock — Sat, 05 Apr 2014 23:28:41 GMT

Thank you for the responses. Do my scores and inquiries look okay?

Re: CSP Odds

09Lexie — Sat, 05 Apr 2014 23:36:57 GMT

This thread is locked and under Moderator review.

~Lexie, myFICO Moderator