Applying for CSR, Worried about Income (Chase Exposure)

[ngoaa]

Hello All,

After really looking into CSR, I believe this card can be beneficial to me despite the high AF.

What I am worried about is my Chase exposure to income ratio. With the CSR minimum CL at 10k, that would put me closer to if approved (income is low).

I was denied a Chase Cli last month. Initially I thought it was because I didn’t wait a full 6 months before my last Chase Cli but I’m thinking it’s now because of my exposure to income.

My last approvals for credit cards were my Freedom and regular Sapphire back in 2013 (haven’t app for any cards since).

My plan was to PC my regular Sapphire to Freedom Unlimited and then apply for CSR using a friend’s referral link.

You think CSR is out of reach? I read about moving credit lines around but I’m not sure how that works with online referral.

Utilization: 2%
Chase FICO: 809

[RonM21]

When you were denied the CLI, what were the denial reasons given in the letter? I assume you took a HP for that, and they sent you the letter, correct?

[ngoaa]

I can't find the letter now but yeah, it was a HP and I believe it was due to insufficient experience at my current credit limit? 

[FinStar]

What are your current limits and what is the highest CL on your CCs?

[ngoaa]

My limits are:

Freedom: $11,400
Sapphire (but just converted to Freedom Unlimited): $18,000

I also have:
Local Credit Union: $13,700
Amex BCE: $40,200
Discover: $52,000

[FinStar]

Based on what you have shared above, your CLs seem to be in adequate range for consideration, so this would leave your income/DTI and the rest of your overall profile to be evaluated.

Potentially, if approved, they may ask you to reduce exposure and/or shift CLs around, or you could be approved just shy above their minimum threshold. Only way to know for sure is when you apply. Just something to keep in mind.

[ngoaa]

Thanks FinStar,

Will give it a try soon and report back. 

[UncleB]

This thread is now locked and closed to new messages.

The new thread can be found here:  https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Holy-Cow-Chase-Sapphire-Reserved-Approved-Wit...