topic Re: CSP approval for grandparents? in Credit Cards

CSP approval for grandparents?

rubbinitout — Mon, 07 Apr 2014 20:17:58 GMT

Hey guys,

This thread is for a CSP app submitted by my grandparents - not me. They are retired and finally taking a trip to Europe and would like access to the chip and no FTF if possible.

Profile looks like this: $0 cc balance, only 1 open revolving card $7500 CL. $20k equity line of credit, 50% util. AAoA is +20yr. A few closed accts, but no baddies. Scores in 720ish range.

They don't need the card, but would like it regardless.

Should have a pretty good chance of approval, right? Thanks!

Re: CSP approval for grandparents?

yudeology101 — Mon, 07 Apr 2014 21:04:08 GMT

@rubbinitout wrote:
Hey guys,

This thread is for a CSP app submitted by my grandparents - not me. They are retired and finally taking a trip to Europe and would like access to the chip and no FTF if possible.

Profile looks like this: $0 cc balance, only 1 open revolving card $7500 CL. $20k equity line of credit, 50% util. AAoA is +20yr. A few closed accts, but no baddies. Scores in 720ish range.

They don't need the card, but would like it regardless.

Should have a pretty good chance of approval, right? Thanks!

Chances are pretty good, but do they have any income since they are retired?

Re: CSP approval for grandparents?

gdale6 — Mon, 07 Apr 2014 21:18:58 GMT

I dont see a problem here with them getting the card.

Re: CSP approval for grandparents?

rubbinitout — Mon, 07 Apr 2014 21:53:53 GMT

Hey thanks for responding... yes, they do have a retirement income that was listed on the app.

HOWEVER....

I found out they actually applied for both the Freedom and United Explorer cards - not Sapphire Preferred. They realized after their apps that they should've applied for the Sapphire.

Do you think they should cancel the Freedom app and go for the Sapphire?

Thanks

Re: CSP approval for grandparents?

yudeology101 — Mon, 07 Apr 2014 22:06:22 GMT

@rubbinitout wrote:
Hey thanks for responding... yes, they do have a retirement income that was listed on the app.

HOWEVER....

I found out they actually applied for both the Freedom and United Explorer cards - not Sapphire Preferred. They realized after their apps that they should've applied for the Sapphire.

Do you think they should cancel the Freedom app and go for the Sapphire?

Thanks

If they alrady applied for those two other cards, there's no going back and canceling the application process....were they approved? I don't think Chase would PC right off the bat, but they certain can call the backdoor and ask if this is possible.

Re: CSP approval for grandparents?

rubbinitout — Mon, 07 Apr 2014 22:25:47 GMT

They were told the applications were sent to a second department for further review, but to likely expect the welcome kit within 2 weeks. Based on the initial review, the customer rep said everything looked excellent, but no one explicitly stated an approval yet.

Re: CSP approval for grandparents?

rubbinitout — Tue, 15 Apr 2014 12:58:33 GMT

Update:

So, they ultimately applied for 3 Chase cards - Freedom, United Explorer and Sapphire Preferred. Chase canceled the United Explorer, and they then asked for address verification for the Sapphire Preferred.

They received a letter stating the United Explorer app was canceled, but no info yet on the Freedom or SP. It's now been a week since they faxed address verification.

I've read that the address verification by Chase doesn't necessarily lead to an approval, but there still should be a decent chance at both Freedom and SP? The Chase pre-approval link online stated approval for the Freedom at least.

Thanks for the help