CSP - what is the minimum length of credit history needed?

[Anonymous]

Hi all, new here  

I've been trying to get approved for CSP. Currently, Experian FICO score (via Discover card) reported @ 686. 

After applying and calling recon, I was immediately rejected because of "insufficient length of credit hisory", with reported 60K income. 

Are Chase cards difficult to get with a ~ 11 month credit history? (Thin file). This is really odd, because I was approved for Amex PRG recently. 

Any advice, would be really appreciated!

Past history:

- Opened BOFA Checking (Dec 2013)

- Opened Chase Checking (Dec 2014)

- Approved BOFA Better Balance (Jan 2015 CL 700)

- Approved AMEX PRG (Nov 2015)

- Approved Discover IT (Nov 2015, CL 1500)

Hi all, new here  

I've been trying to get approved for CSP. Currently, Experian FICO score (via Discover card) reported @ 686. 

After applying and calling recon, I was immediately rejected because of "insufficient length of credit hisory", with reported 60K income. 

Are Chase cards difficult to get with a ~ 11 month credit history? (Thin file). This is really odd, because I was approved for Amex PRG recently. 

Any advice, would be really appreciated!

Past history:

- Opened BOFA Checking (Dec 2013)

- Opened Chase Checking (Dec 2014)

- Approved BOFA Better Balance (Jan 2015 CL 700)

- Approved AMEX PRG (Nov 2015)

- Approved Discover IT (Nov 2015, CL 1500)

Edit, updates:

- minimum credit line for CSP is $5,000
- check first, to see if you have a Freedom prequal
- solid year of payment history typically required, try to bring down utilization to under 6%.

(Credit utilization explained: http://www.quickanddirtytips.com/money-finance/investing/credit-utilization%E2%80%94what-it-means-fo...

[Anonymous]

---

@Anonymous wrote:

Hi all, new here  

@I've been trying to get approved for CSP. Currently, Experian FICO score (via Discover card) reported @ 686. 

After applying and calling recon, I was immediately rejected because of "insufficient length of credit hisory", with reported 60K income. 

Are Chase cards difficult to get with a ~ 11 month credit history? (Thin file). This is really odd, because I was approved for Amex PRG recently. 

Any advice, would be really appreciated!

Past history:

- Opened BOFA Checking (Dec 2013)

- Opened Chase Checking (Dec 2014)

- Approved BOFA Better Balance (Jan 2015 CL 700)

- Approved AMEX PRG (Nov 2015)

- Approved Discover IT (Nov 2015, CL 1500)

---

When i was approved for Chase CSP my AAOA was about 4 years with FICO score of 740. My oldest credit card is about 13 years. Hope my info. helps some. Goodluck

[ojefferyo]

Discover doesn't give you EX scores it's TU, check your EX scores

[Anonymous]

Thanks for the clarification. From the monthly statement, it said:

"YOUR CREDIT SCORE

FICO: 686

Source: Experian"

I will double check with them. Pretty bummed about not being able to take advantage of the 50K CSP offer... 

Any suggestions on how to approach recon would be appreciated

[ojefferyo]

---

@Anonymous wrote:

Thanks for the clarification. From the monthly statement, it said:

"YOUR CREDIT SCORE

FICO: 686

Source: Experian"

I will double check with them. Pretty bummed about not being able to take advantage of the 50K CSP offer... 

Any suggestions on how to approach recon would be appreciated

---

My statement has no verbage of it being from EX, weird. Online says its obtained from TU

[Anonymous]

Was that the only reason given? It seems like it could be a combo of insufficient history and other factors. The minimum credit line for CSP is $5,000, so they might see that as a little out of step with the rest of your limits. If you really want something with Chase, you could always try for Freedom (maybe check to see if you have a Freedom prequal first), which would let you stock up on UR points while you wait to build up your file, then maybe try again for CSP in 12-18 months. You'd have to be careful not to bust 5/24 before you're ready to try again, though... plus rumor has it that Freedom's 5% bonus categories are going to mirror Discover's pretty closely next year, so Freedom might not be a great addition to your arsenal right now, unless there's something specific you have in mind that requires UR points.

Alternatively, CSP isn't necessarily all it's cracked up to be, so maybe look into other cards that could be a good fit!

[ddemari]

Chase really likes to see a solid year of payment history before giving you a card. The CSP is also one of their top cards for people with high incomes and also pretty good fico scores. Granted I got this card last year with a 670, I had an average age of accounts around 4 years. 

you should wait again, optimize your reports before applying, meaning trying to get your utilization down to under 6%. this way key for me when trying to get in with chase, low low utilization and some payment history, you should be good to app again in 3 months.

[Anonymous]

@Everyone, thank you for the detailed replies, this has been really helpful in understanding the CSP dynamic for someone who just started building credit. 

I've updated the first post, to include the key snippets of info for future people looking to get CSP!

Thanks again!

[elim]

just keep checking the pre-qual.  if freedom and slate show up, don't bite... give it a couple months, CSP usually does then.

[Anonymous]

pre-qual makes lotsa sense. Thanks for the tips!