topic Re: CSP..... now or wait? in Credit Cards

CSP..... now or wait?

Anonymous — Wed, 30 Apr 2014 23:52:32 GMT

Today is the last day my old closed GECRB Sears card (very first CC) will be reporting on EX. It's a 19.5 year old tradeline and my AAoA is going to take a huge hit and score drop is likely. I recently did an app spree of 3 cards (HNB Voice, BCP, Citi AA) and have only had a 5K+ tradeline for 45 days (new Citi card, 9.5K). Util reporting 1% exactly. AAoA on TU is around 3 years, 5 years on EQ and EX. Scores TU 757, EQ 791, EX 716. HP's in the past two years (total) EQ 9, EX 4, TU 8. HP's in the past one year of total is EQ 2, EX 1, TU 2 (over half the pulls dropping off between July and Sept 2014). I still have an old, paid state tax lien from 03 paid 08 on EX. All others clean. Income supports 5K+ card. Other limits - HNB Voice 4.5K, DiscoverIT 3K, Cap1 QS1 2.5K, Cap1 QS1 1K, Citi AA 9.5K, BCP 2K (61 days is 5/25).

I can certainly wait but that's the final card I want and it might take a while for EX to recover. It's a borderline miracle (to me) to be knocking on the door of 720 with a PR on that report. Realistically, it'll be July 2015 when the tax lien falls off. I really, really don't want to waste two HP's because I got in a hurry. I do have prequal offers on Chase's website for the Slate at 17.99 and Freedom 18.99 (middle of the road offers).

App or wait?

Thanks everyone.

EDITED TO ADD: I have a 10 month old auto loan with Chase where I've paid quite a bit extra each month. Perfect history.

Re: CSP..... now or wait?

MrCollector — Wed, 30 Apr 2014 23:51:49 GMT

@Anonymous wrote:
Today is the last day my old closed GECRB Sears card (very first CC) will be reporting on EX. It's a 19.5 year old tradeline and my AAoA is going to take a huge hit and score drop is likely. I recently did an app spree of 3 cards (HNB Voice, BCP, Citi AA) and have only had a 5K+ tradeline for 45 days (new Citi card, 9.5K). Util reporting 1% exactly. AAoA on TU is around 3 years, 5 years on EQ and EX. Scores TU 757, EQ 791, EX 716. HP's in the past two years (total) EQ 9, EX 4, TU 8. HP's in the past one year of total is EQ 2, EX 1, TU 2 (over half the pulls dropping off between July and Sept 2014). I still have an old, paid state tax lien from 03 paid 08 on EX. All others clean. Income supports 5K+ card. Other limits - HNB Voice 4.5K, DiscoverIT 3K, Cap1 QS1 2.5K, Cap1 QS1 1K, Citi AA 9.5K, BCP 2K (61 days is 5/25).

I can certainly wait but that's the final card I want and it might take a while for EX to recover. It's a borderline miracle (to me) to be knocking on the door of 720 with a PR on that report. Realistically, it'll be July 2015 when the tax lien falls off. I really, really don't want to waste two HP's because I got in a hurry. I do have prequal offers on Chase's website for the Slate at 17.99 and Freedom 18.99 (middle of the road offers).

App or wait?

Thanks everyone.

I was approved for the CSP with only my QS1 reporting at $1.25K. That was after about 5HP in the prior two weeks to apping for it (wasn't planning on going for it, did it on a whim). I think you'll do just fine, but YMMV.

Re: CSP..... now or wait?

Anonymous — Thu, 01 May 2014 00:14:58 GMT

@MrCollector wrote:
@Anonymous wrote:
Today is the last day my old closed GECRB Sears card (very first CC) will be reporting on EX. It's a 19.5 year old tradeline and my AAoA is going to take a huge hit and score drop is likely. I recently did an app spree of 3 cards (HNB Voice, BCP, Citi AA) and have only had a 5K+ tradeline for 45 days (new Citi card, 9.5K). Util reporting 1% exactly. AAoA on TU is around 3 years, 5 years on EQ and EX. Scores TU 757, EQ 791, EX 716. HP's in the past two years (total) EQ 9, EX 4, TU 8. HP's in the past one year of total is EQ 2, EX 1, TU 2 (over half the pulls dropping off between July and Sept 2014). I still have an old, paid state tax lien from 03 paid 08 on EX. All others clean. Income supports 5K+ card. Other limits - HNB Voice 4.5K, DiscoverIT 3K, Cap1 QS1 2.5K, Cap1 QS1 1K, Citi AA 9.5K, BCP 2K (61 days is 5/25).

I can certainly wait but that's the final card I want and it might take a while for EX to recover. It's a borderline miracle (to me) to be knocking on the door of 720 with a PR on that report. Realistically, it'll be July 2015 when the tax lien falls off. I really, really don't want to waste two HP's because I got in a hurry. I do have prequal offers on Chase's website for the Slate at 17.99 and Freedom 18.99 (middle of the road offers).

App or wait?

Thanks everyone.
I was approved for the CSP with only my QS1 reporting at $1.25K. That was after about 5HP in the prior two weeks to apping for it (wasn't planning on going for it, did it on a whim). I think you'll do just fine, but YMMV.

That's a strong approval. How many of your cards are new?

Re: CSP..... now or wait?

Kenny — Thu, 01 May 2014 00:17:16 GMT

I don't see a denial happening, to me. People have been approved for WAYYY less. Go for it and let us know your approval CL! Best of luck!

Re: CSP..... now or wait?

Anonymous — Thu, 01 May 2014 00:19:02 GMT

Agreed. I would app while you still have the longer acct. history.

Re: CSP..... now or wait?

Anonymous — Thu, 01 May 2014 00:19:20 GMT

@KennyRS wrote:
I don't see a denial happening, to me. People have been approved for WAYYY less. Go for it and let us know your approval CL! Best of luck!

As always, I appreciate your support, Kenny. You're that little devil on my shoulder saying "go ahead, you know you have an itchy finger.... just do it".

Re: CSP..... now or wait?

MrCollector — Thu, 01 May 2014 01:04:38 GMT

@Anonymous wrote:
@MrCollector wrote:
@Anonymous wrote:
Today is the last day my old closed GECRB Sears card (very first CC) will be reporting on EX. It's a 19.5 year old tradeline and my AAoA is going to take a huge hit and score drop is likely. I recently did an app spree of 3 cards (HNB Voice, BCP, Citi AA) and have only had a 5K+ tradeline for 45 days (new Citi card, 9.5K). Util reporting 1% exactly. AAoA on TU is around 3 years, 5 years on EQ and EX. Scores TU 757, EQ 791, EX 716. HP's in the past two years (total) EQ 9, EX 4, TU 8. HP's in the past one year of total is EQ 2, EX 1, TU 2 (over half the pulls dropping off between July and Sept 2014). I still have an old, paid state tax lien from 03 paid 08 on EX. All others clean. Income supports 5K+ card. Other limits - HNB Voice 4.5K, DiscoverIT 3K, Cap1 QS1 2.5K, Cap1 QS1 1K, Citi AA 9.5K, BCP 2K (61 days is 5/25).

I can certainly wait but that's the final card I want and it might take a while for EX to recover. It's a borderline miracle (to me) to be knocking on the door of 720 with a PR on that report. Realistically, it'll be July 2015 when the tax lien falls off. I really, really don't want to waste two HP's because I got in a hurry. I do have prequal offers on Chase's website for the Slate at 17.99 and Freedom 18.99 (middle of the road offers).

App or wait?

Thanks everyone.
I was approved for the CSP with only my QS1 reporting at $1.25K. That was after about 5HP in the prior two weeks to apping for it (wasn't planning on going for it, did it on a whim). I think you'll do just fine, but YMMV.
That's a strong approval. How many of your cards are new?

All are within the last month except the QS1 (haven't even received the Arrival yet).

Re: CSP..... now or wait?

ak_7vytr0 — Thu, 01 May 2014 01:25:40 GMT

You got it !! I was approved for it in feb this year with a 692 score.. and my next highest limit was my freedom that i opened in dec 2013 for 3.5k

Re: CSP..... now or wait?

CelticLady — Thu, 01 May 2014 01:48:15 GMT

@Anonymous wrote:
Today is the last day my old closed GECRB Sears card (very first CC) will be reporting on EX. It's a 19.5 year old tradeline and my AAoA is going to take a huge hit and score drop is likely. I recently did an app spree of 3 cards (HNB Voice, BCP, Citi AA) and have only had a 5K+ tradeline for 45 days (new Citi card, 9.5K). Util reporting 1% exactly. AAoA on TU is around 3 years, 5 years on EQ and EX. Scores TU 757, EQ 791, EX 716. HP's in the past two years (total) EQ 9, EX 4, TU 8. HP's in the past one year of total is EQ 2, EX 1, TU 2 (over half the pulls dropping off between July and Sept 2014). I still have an old, paid state tax lien from 03 paid 08 on EX. All others clean. Income supports 5K+ card. Other limits - HNB Voice 4.5K, DiscoverIT 3K, Cap1 QS1 2.5K, Cap1 QS1 1K, Citi AA 9.5K, BCP 2K (61 days is 5/25).

I can certainly wait but that's the final card I want and it might take a while for EX to recover. It's a borderline miracle (to me) to be knocking on the door of 720 with a PR on that report. Realistically, it'll be July 2015 when the tax lien falls off. I really, really don't want to waste two HP's because I got in a hurry. I do have prequal offers on Chase's website for the Slate at 17.99 and Freedom 18.99 (middle of the road offers).

App or wait?

Thanks everyone.

EDITED TO ADD: I have a 10 month old auto loan with Chase where I've paid quite a bit extra each month. Perfect history.

Personally, I'd app for it now. I think you have a good shot at it. It would be better if the freedom offer was showing a lower apr but I think you'll get it. Go ahead...hit apply ;D

Re: CSP..... now or wait?

Kenny — Thu, 01 May 2014 01:51:35 GMT

People have growth periods in their lives where they suddenly wake up and realize they need more cards. It's normal and could be easily explained. I mean I would flat out say if they asked why all of the new accounts that I want to protect my credit from later being too much affected by one trade line falling off of my report. "I can certainly take advantage of this card and would love to further my banking relationship with Chase..." Etc etc.

Re: CSP..... now or wait?

afinch1992 — Thu, 01 May 2014 02:25:08 GMT

I don't see you being denied either way, but I say go for it while the history is at its temporary max! I was instsanly approved with 1 other 5k limit (Amex BCE has not hit reports yet) and a shade under a year and a half average account age. Decent history with Chase, but no where near yours. Worst case you would be an easy recon case

Re: CSP..... now or wait?

Anonymous — Thu, 01 May 2014 03:05:58 GMT

I've decided to wait. I have to go with my heart and just wait it out. It'll be a better app in a year or so. I don't need a CSP. I want it dearly but I have more available credit than I could ever use and need. I hope the AF don't go up and the sign up bonus stays the same or gets better. When I called US Bank recently, they said I was preapproved for the Cash+ card. I may bite on that in October and go for CSP 6 months from then since US Bank is a TU puller here in KY and Chase is very likely to hit EX now. I genuinely thank everyone who replied.

Re: CSP..... now or wait?

afinch1992 — Thu, 01 May 2014 03:11:29 GMT

not a bad plan at all. If I had the ability to grab the cash+ that would have been my pick over the CSP as well. best of luck!

Re: CSP..... now or wait?

Kenny — Thu, 01 May 2014 03:16:39 GMT

@Anonymous wrote:
I've decided to wait. I have to go with my heart and just wait it out. It'll be a better app in a year or so. I don't need a CSP. I want it dearly but I have more available credit than I could ever use and need. I hope the AF don't go up and the sign up bonus stays the same or gets better. When I called US Bank recently, they said I was preapproved for the Cash+ card. I may bite on that in October and go for CSP 6 months from then since US Bank is a TU puller here in KY and Chase is very likely to hit EX now. I genuinely thank everyone who replied.

I understand, and you made the right decision for you! It will make it all the more gratifying when you get it next year!