I know there are threads-a-plenty regarding people asking for CSP approval chances, but none of them seem to have people with a similar credit profile to me. Perhaps there's a good reason for that (my chances are low), but I thought I would make my own thread, to see what you guys thought.
Background:
25 yo employed for 2.5 years
income: 40-50K, depending on bonus
FICO Scores: EQ 648; EX 649; TU 655
AAoA: 3 years, 5 months
CLs: BofA Travel Rewards (opened July 2015), $1800CL
Discover It Chrome (opened March 2016), $2500CL (just got SP CLI from 1K to 2.5K after getting it unsecured earlier this month)
Chase Freedom (opened March 2016), $3000CL
Utilization ~ 10% maximum since March 2016, usually around 2-3%.
I PIF every month but don't usually try to time my payments so that the cards report 0 balance to the CRAs.
I had a c/o with DoFD of January 2012 which was eventually settled for less than the amount owed. It shows up as 2 different derogs on my CR because the original lender sold the debt to a DCA who I then settled with (long before I heard about these forums, or else I would have handled it much differently).
Since that c/o, I had about 1.5 years with NO credit cards at all, then I got my first CC (BofA secured) in July 2015 and slowly worked my way to where I am today. I haven't had any late payments since opening my BofA card, and I guess if you count the time period where I had no accounts to make payments on, then I've had perfect payment history for 3 years now.
I have no outstanding debts of any kind, and I have a fairly decent amount of savings, and ever since I got my discover unsecured, I've been itching to get back to apping for my next card.
So, going by my understanding of the 5/24 rule, I am currently at 3/24 (can someone clarify for me whether this is all HPs on my CR, or only new accounts opened? If it is all HPs, then I am at 4/24 due to a failed attempt at getting an Amex back in March).
Therefore, once I found out about the 5/24 rule, I have been gardening, since I definitely want my next card to be a CSP so that I can finally make use of the over 28,000 UR points I have sitting in my freedom account.
Now, I am expecting my scores to go up slightly in December 2016 because my Discover will start reporting the increased CL, and I am going to make sure that all my CCs report a 0 balance except for the freedom, so that will probably push me up around 5pts across the board (I hope).
With all this info, what do you think are my chances of getting approved for CSP if I apply in December this year after my Discover CLI reports out to the CRAs.
I appreciate your thoughts and guidance. I absolutely love the friendliness of people on these forums!
