CSP Preapproval

[Anonymous]

Hello again

I posted the other day about my odds at Venture and got some great advice. I decided to check out some other cards for travel and think I have settled on CSP. I checked the prequal site and it shows CSP, Slate and FU. I did search but wanted to see if anyone had any thoughts if the prequal means I will likely get it. My info is below.

FICO 8 Scores: TU 688, EX 681, EQ 665 (From a week or two ago when I had a CA on my report, but that has been deleted)

Baddies: 1 30 day late from last July on a SL 

Util 20% (will report < 5% when next statement cuts on 5/15)

Inquiries: TU 4, EX 5, Eq 4 

AAoA: 6 yrs

I had a Auto loan with chase for 4 years (payed off last year) which was always on time.

Any advice would be great. It looks like Chase pulls Ex alot, so I could order my MyFico 1B for Experien to check my scores again if you think its borderline.

Thanks in advance. 

[RonM21]

If you had a CA on your reported deleted as well as your utilization dropping from 20% down to 5% which is optimal range, I think I'd waiti for that to report. It seems to me you have a jump in score coming which would raise your chances on not only an approval, but a higher starting limit!

[Septrosh]

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@RM21 wrote:
If you had a CA on your reported deleted as well as your utilization dropping from 20% down to 5% which is optimal range, I think I'd waiti for that to report. It seems to me you have a jump in score coming which would raise your chances on not only an approval, but a higher starting limit!

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And lower APR.  

[nitrov]

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@Anonymous wrote:

Hello again

I posted the other day about my odds at Venture and got some great advice. I decided to check out some other cards for travel and think I have settled on CSP. I checked the prequal site and it shows CSP, Slate and FU. I did search but wanted to see if anyone had any thoughts if the prequal means I will likely get it. My info is below.

FICO 8 Scores: TU 688, EX 681, EQ 665 (From a week or two ago when I had a CA on my report, but that has been deleted)

Baddies: 1 30 day late from last July on a SL 

Util 20% (will report < 5% when next statement cuts on 5/15)

Inquiries: TU 4, EX 5, Eq 4 

AAoA: 6 yrs

I had a Auto loan with chase for 4 years (payed off last year) which was always on time.

Any advice would be great. It looks like Chase pulls Ex alot, so I could order my MyFico 1B for Experien to check my scores again if you think its borderline.

Thanks in advance. 

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If you have more than 5 accounts in the last 2 years don't apply for a non-co branded card with Chase. I was preapproved for CSP, apped, and still got denied despite a recon request and a pretty decent deposit relationship I have with them. IMO your best bet is Freedom and Slate cuz I'm not sure with that recent of a late pay you'll get approved for something over $5k SL with them. Best of luck! Let us know how it goes.

[Anonymous]

You'll get the card. Don't pay for an ex report. If you wanna know your score that badly sign up for credit check total for $1 and cancel immediately.

Regardless chases prequal are fantastic, my scores were right around yours when I got mine in August(almost to a t), and that's before your ca and util drops. Late payment shouldn't matter, I had a 180(!!) Day late ...17 Months before my csp. 180 17 months ago, about 5x worse than a 30 day late 10 months ago.

You've got a history with them to boot, you're like 90% in, 9% being because you haven't apped yet, and 1% because sometimes everyone's randomly unlucky.

1. Don't pay for a report unnecessarily.
2. Sign up for cct trial.
3. App.
4. Enjoy your new card and hit the bonus

....also like said above, don't app if you've opened 5 Visa/mc/disc/amex cards in the past 24. Based on your inq it seems that's physically impossible however.
Chase pulled ex/tu for my csp, ex/eq for my SW and the same for cfu(denial, 5/24). So that just varies.

[Anonymous]

Thank you all for the feedback. I am impatient and decided to go for it and got approved for 15k! Very happy about it.

One more question - when does the 3 month timer start for the bonus? Today or when I activate?

[Anonymous]

The timer starts on the day your account was opened. Call Chase and have them expidite your card to you. They'll send it to you in a few days via UPS vs a couple weeks via USPS. 

EDIT to clarify. The timer starts on the day you were approved, Chase is very quick at opening your account and making it active. Once I recieved my approval for my CSP I immediately logged into my chase accounts page (I have other cards and checking with them) and the card was already listed. It took no longer than about 10-15 seconds for the account to show up. 

[Anonymous]

Thanks I'll give them a call