CSP Application[edit, Approved!]

[Anonymous]

Hi everyone,


First time posting as I’ve lurked over the past year. Been trying to take care of some things lately to get my scores in a good area. Here’s where I am now:
Ex 677
Eq 672
Tu 686 all FICO reported as of today
I don’t have any bad marks besides a late payment which was taken care of 4 years ago and I just had my Amazon store card cli to 6k. My overall usage from all accounts is 25%. I am under the 5/24 rule.

I was wondering if you guys would think I have a decent chance at the CSP. I have a chase amazon which got a cli from 500 to 1k last month and my scores just updated today with that reflected as well as the amazon store card cli reflected also.
No pre quail offers on the chase site. I am opted in.

Should I wait a day or two or just keep waiting to get to 700+ on ex/eq/tu.

Thanks in advance.

[Anonymous]

You are under 5/24, but how many other revolving accounts do you have (bank and/or retail)?  What is your AAoA?  AoOA?  Installment loans?  Regarding your utilization, how many cards/accounts is that spread across and what is the highest individual utilization?  What is your highest limit card and how old is it?  Your scores, in general, appear a tad on the low side, but I've certainly seen CSPs approved in that score ranger.  However, there are always so many other factors to consider.  The more data points you can provide the better and more accurate replies will be and probably more useful to you as well.

[Anonymous]

I have installment loans from student loans dating back to 2010, and a car loan from January of 2017. Those are all current

As for the highest cl, that is my amazon store card which I opened earlier this year around february which has the 6k CL

Revolving accounts, 5. Which is what the overall utilization is spread across.

My oldest line of revolving credit is from 2015.

I had a couple store cards back in 2012 which I closed back then due to not knowing it was a bad idea to close lines of credit. They are paid as well.

[Anonymous]

There are many others on here who know much more about Chase than I do.  However, I believe your file is somewhat thin for a CSP at this time.  It would be much better for you to have a bank revolver 12+ months old than the store card.  Chase has a strong preference for the 12 months of "experience" which they will sometimes tell you if you call and speak with them (usually or recon unfortunately) or it will be inferred by one of the reasons a person is declined.  You utilization is not terribly problematic, but 8.9% or less across the board would be ideal.  If I were in your shoes I would consider Discover (they seem to love thin files) and/or possibly an AMEX.  Depending on your 5/24 posture one or both for 12 months would season your status and also probably raise your scores across the board.  I have the CSP and Freedom and like them both, and once back under 5/24 I'll likely pick up the FU as well.  If you are looking for a travel card, the Discover Miles could work for you until you get the CSP.  I'm also a fan of the Amex BCE which I use almost exclusively for grocery.  I do not buy enough groceries to justify the BCP with the AF, but BCE is quite nice.  

[FinStar]

Lots of variables that can come into play OP, especially if you were to pull the trigger within the next few days.

IMHO, I would wait until those scores rise a bit higher, above 700 would be more optimal. That being said, the other items that may play a key role in the decision would be your DTI/utilization.

[Anonymous]

I was approved!! Pulled the trigger anyway cause I knew my score may drop from a purchase I made that didn’t get added yet.


Thanks for everyone’s help!

[Anonymous]

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@Anonymous wrote:
I was approved!! Pulled the trigger anyway cause I knew my score may drop from a purchase I made that didn’t get added yet.


Thanks for everyone’s help!

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Congrats!  Which CRA(s) were pulled and what SL did you receive if you wouldn't mind sharing?

[Anonymous]

Locked. Direct replies to the approval thread