CSP Approval Odds ...currently blacklisted

[ccb2115]

Here's the deal. I was blacklisted from Chase after a CO from around 2007. The CO has been removed and I have since repaired my credit (730s across the board). I have just been able to pay off a ton of my balances and student loans and I anticipate my score to hover over 800 (score simulator predicts 823).

I have several credit cards, but only my Discover IT has a limit of 5K. I applied for the CSP several years ago and I had to call in because my EX report was frozen (Score was 710 at the time). They mentioned that because I didn't have a card with a limit of 5k or above (at that time) and because of the CO incident, they just couldn't approve me at that time. I'm not sure if I'm still blacklisted but I feel like I still am.

So, now I'll be in a much better position with hopefully a much better score , but I still feel being blacklisted will screw me over. What do you guys think?

[Anonymous]

Yikes. I hate to say it, but I don't think the chances are very good. Your scores are definitely in the right range, but Chase tends to have a very long memory with charge offs. One thing that hurts with Chase blacklisting in particular is that Chase uses an internal scoring method for CC applicants called the Card Acquisition Risk Score (CARS). I can't imagine that your CARS score would be as high as your FICOs if you burned them in a charge off. Another thing that complicates things is that when people who have been blacklisted try to get back in with Chase, sometimes Chase will compromise by throwing them a toy limit. That's not possible in this case because CSP requires a minimum $5000 limit for approval. Obviously, everybody's experience can be different (credit card approvals are a YMMV to begin with), but Chase usually has a longer memory than that for charge offs. How much was the charge off?

[Creditaddict]

you are not getting any offers off the pre-qual right?

[ccb2115]

Charge off was from college for about 700 dollars.

I'm not getting any prequal offers but I've opted out, so I'm not receiving any offers from anyone.

[Creditaddict]

I would just apply then

[Creditaddict]

Still don't grasp the concept of opting out when you're looking for credit cards in the future

[Anonymous]

Chase has a very longggggggggggggggggg memory.  I still run into problems with from a product that they bought out from 1993.

[ccb2115]

I guess I don't really grasp the concept of opting In. Should I just opt in? I receive a bunch of offers that I'm not interested in.

[CreditCuriosity]

optoutprescreen.com

Goto website opt-in it allow you to get pre-quals from CC issuers.

[1GaDawg85]

Opt in, i know you get a ton of junk offers but there will be the rare gem