CSR approval odds / strategy

[Anonymous]

Hello,

I am looking for some advice on when to apply for a CSR. I moved to the US 20 months ago and looking to get a travel card similar to what I had before moving to the US (e.g., extensive insurance, priority pass).

Scores: 734 (EX Fico 8), 730 (EX VS3), 722 (TU VS3), 734 (EQ VS3)

Income: $200k

HPs: 2 (EX), 6 (TU), 0 (EQ)

Current credit

Local CU visa, $10k CL, Age: 1.5 years

Chase FU, $7.5k CL, Age: 4 months

Chase denied me for a CSP earlier this year (credit history too short) and a while later I opened a sapphire checking account together with the FU and the rep in the branch advised me to try for a CSP after 6 months.

However, I have no use for the CSP. It doesn't provide any benefit to me over my CU visa. So I was thinking of trying directly for the CSR. Any recommendations on how to proceed? Wait for pre-approval? Try a cold application 6 months after getting the FU? Go for a CSP and upgrade or try for the CSR directly?

Btw. I don't see any credit card offers under "just for you".

[simplynoir]

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@Anonymous wrote:

Hello,

I am looking for some advice on when to apply for a CSR. I moved to the US 20 months ago and looking to get a travel card similar to what I had before moving to the US (e.g., extensive insurance, priority pass).

Scores: 734 (EX Fico 8), 730 (EX VS3), 722 (TU VS3), 734 (EQ VS3)

Income: $200k

HPs: 2 (EX), 6 (TU), 0 (EQ)

Current credit

Local CU visa, $10k CL, Age: 1.5 years

Chase FU, $7.5k CL, Age: 4 months

Chase denied me for a CSP earlier this year (credit history too short) and a while later I opened a sapphire checking account together with the FU and the rep in the branch advised me to try for a CSP after 6 months.

However, I have no use for the CSP. It doesn't provide any benefit to me over my CU visa. So I was thinking of trying directly for the CSR. Any recommendations on how to proceed? Wait for pre-approval? Try a cold application 6 months after getting the FU? Go for a CSP and upgrade or try for the CSR directly?

Btw. I don't see any credit card offers under "just for you".

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So the the reason for the denial is legimate, Chase will let people in with young files for their starter cards but the premium cards require both having a little more experience both with cards themselves as well as showing you can handle high limit cards. You have the higher limit experience down with the CU card you have, the age of your accounts the CFU probably has to break a year before Chase let's you in on the CSR

For the CSR to me it seems like a cointoss at that point. The CSP I think is the safer choice as far as chances getting an approval (probably why customer rep said that) but you stated you have no use for it. In my opinion the options are wait another two months and by then the CFU will be six months old to attempt the CSP or gamble and roll the dice on CSR app, wait a year after CFU approval and have better chances at CSR, or if you get CSP at six month mark wait for a year until you can upgrade the CSP because of the increased AF

All told it depends how patient you can be and how much you want to gamble early. I guess you could go for the CSR at the six month mark and if no go be assured with a little more waiting you can get it with another six months of waiting. With the product change route you basically have to wait 18-20 months before finally getting the CSR you want but at least it's a guaranteed path as long as credit line for the CSP is at least $10k

[Hoben02]

Just go back after six months to the banker and see if you are preapproved for any chase cards. I actually tried applying for the CSR when it first came out but was denied due to lol/24. But I was still well over 5/24 when I wandered in a few months later and the banker found I was preapproved for the CSP. In my case I have no desire for the CSR due to the fact  I don't spend enuf to make it worthwhile after checking my annual spend

[Anonymous]

Thanks for the input. I guess I will have to wait and see which, if any, pre-approvals I may get at the half year mark. Based on older posts it wasn't clear to me what differentiates profiles needed for CSR vs. CSP other than having an income high enough to qualify for the higher CL of the CSR.

The CSP denial doesn't seem reasonable to me, their exposure would be the same for the CFU and a CSP with a 5-7k limit. I am not too patient with banks that play games like that. On the other hand, chase is my only viable option here because similar cards (e.g., Amex Platinum) don't fit my spending profile well.

[Anonymous]

Just wanted to bring closure to this thread. My profile improved a bit in the meantime (FICO 8: 744 EX, 756 EQ, 737 TU; slightly higher income) but I didn't get any preapprovals for CSP or CSR. I was feeling brave and applied for the CSR online and was instantly approved with $26k SL (EX and TU HP). Not sure if it matters, but I have high balances in my Chase checking and savings accounts.

[FinStar]

Thanks for the update and congrats on the CSR approval @Anonymous. Locking this thread as you have been approved.

Feel free to post a new thread announcing the news in the Approvals section if you would like to do so.