CSP approval odds

[User32767]

Hi all,

I have had my first credit card for 18 months now, and am looking to get 1-2 new cards this year. I have received two mailers from Chase, one for the CFU and one for the Disney Sig Visa, both with fixed APRs in the last 6 months. Do you think my profile is good enough to apply for the CSP as my second card?

• Credit score: 763 FICO 8 (Equifax), 747 experian
• Credit history: 18 months
• Utilization: <1%
• Payment history: 100% on time
• Current cards: 1 Mastercard ($3,000 limit, co-signed but in my name)
• Income: $56,600/year
• Employment: Full-time
• Loans/derogatories: None
• Prior relationship with Chase: None
• Hard pulls: 0/6, 0/12

I am applying in-branch and setting up a checking account with a $20k deposit same day and moving my direct deposits to Chase to support my application. If I am approved I plan on applying for a CFU in 2-4 months. I have read more than once that the CSP is friendlier in regards to limits and that is something important to me. My only card is co-signed, do you think that hurts my chances? Would an opening deposit make a difference in getting approved?

Thanks for taking the time to read my post I appreciate your insight

[DeeBee78]

You are unlikely to be approved if you do not already have a card with at least a $5K limit and at least two years of credit history. While the banking relationship can help, it isn't an immediate benefit. They want you to have your money there for a while. 

[Patient957]

Not likely.  Profile too thin and too young.  Existing limit too low.  

You're off to a good start, though.  I think your plan to open 2 new cards this year is good.  I would do it sooner than later to get them ageing.  Need to thicken that file.  Maybe go for the CFU.  Also consider trying to get in with Amex, since those limits can grow fast, and they have no ding decline.

Good luck, whatever you decide.

[User32767]

Thanks for the responses

[xiohn]

Valid replies all around. But my personal stance. Chase banking 10+ yrs, had previous csp(burned) 2015/2016, applied 2/2026, approval $7k. Heard n read all the stories. Circumstances matter. Fall offs, better mgmt of finances. EQ-777, EX-769, TU-753, UTI-3-4% at time of app. mad apps in November, many approvals. It's possible.

[Soundersfan1]

Maybe, the 2 main downsides I see are A) thin profile (not enough existing cards) and B) no existing relationship with Chase. But at the same time, I got approved for the Amex Gold at 18 months credit history with 5 existing cards (3 of them with $5K+ credit limits). I personally think you should try for the CFU and see what they offer you there.

[User32767]

The CFU probably is the safer option. I would rather have that then a hard pull and nothing to show for it. Thank you all for the advice. 

[Skywalker]

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@User32767 wrote:

Thanks for taking the time to read my post I appreciate your insight

The CSP was my third card when I started my credit building journey. My yearly income was about the same yours and my FICO a bit lower.

- Started out with a $3k Capital One Quicksilver (essenitally same spot you're in)

- Then I got the Chase Freedom Flex $5k limit ~6 months later (I'd say to go for either this or the Unlimited, maybe even both before the CSP).

- CSP was my third card at $6k limit and I got it ~6 months after getting the CFF with no relationship with Chase besides the CFF.

Use those data points as you will, but I agree with what others are saying that you'll probably want one or two of their Freedom cards first. Plus imo the freedom cards would actually be more useful (CFF for categories and CFU for everyday), but only if you're chasing a points setup. Even if you're more cashback focused, its good to get your Chase apps done early to avoid any of Chase's 5/24 resrictions.