CSP Approval Odds? (Update: Approved for $18k)

[audioman00]

08/25/21 Update: She applied, received the 30 day notification, then the 7-10 message, then received a call from JPMC fraud dept to verify information. She was approved for a $18k SL. On the lower end of what she was expecting, but considering her current utilization, I think it's a win. 

Posting for my sister: 

EX8, TU8, EQ8: 772, 761, 771

Utilization: 24%

Income $153k

Oldest: 19.1 years

AAoA: 8.1 year

New Accounts: 4/24

Newest: 2 months

DTI: 12%

Current Chase limits = 28% of income

Inquires 2/24

She's hoping to get the 100k SUB before the possibly 8/27 expiration.

Seems like a slam dunk to me, but they might try to do a reallocation. 

Thoughts?

Will post results if she applies. 

[NaimeseOGK]

Definitely have a good chance. When I was approved back in 2020 I only had a Cap1 Platinum Card with a 500 limit and auto loan with all scores hovering around 730. 

[coldfusion]

They might take a hard look because of the current utilization but IMO approval is likely.  Did she try an online prequal for the card?

[NaimeseOGK]

If you can try to lower the utilization below 10%. If she wants the card badly then I still say she has a good chance just because the utilization isn't over 30%

[zerofire]

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@audioman00 wrote:

Posting for my sister: 

EX8, TU8, EQ8: 772, 761, 771

Utilization: 24%

Income $153k

Oldest: 19.1 years

AAoA: 8.1 year

New Accounts: 4/24

Newest: 2 months

DTI: 12%

Current Chase limits = 28% of income

Inquires 2/24

She's hoping to get the 100k SUB before the possibly 8/27 expiration.

Seems like a slam dunk to me, but they might try to do a reallocation. 

Thoughts?

Will post results if she applies. 

---

I can see a few areas where there can be concerns but I have reason to belive Chase might issue the card out. The good part is the solid scores, large income, long history and ok inquiry amount. The main concerns are credit utilisation, the 2mo old account, and 4/24 new accounts. This is especially concerning to me if I was a banker and saw all three negative pieces together.  Luckilly I am not a banker and I belive no banker will ever look at such an application as a computer will probably rubber stamp the approval. You can also try using the preapproval check to see what Chase offers. Also as an existing customer they might be more lenient on how they handle approval. There is only an HP to lose and everything to gain.

[audioman00]

@coldfusion thanks. no prequal. Know one I know IRL has ever received any prequals from Chase or stars

[coldfusion]

I would still go for it if I were her with a plan in place to call for recon if denied, but it depends upon what her tolerance levels are.

[Anonymous]

They offer expires 8/27?

[FinStar]

As the OP has provided an update on their DS' approval, this thread is now locked and closed to new messages.  OP congrats on your sister's CSP approval 💳