Chase CSP ..Apply now or wait

[Anonymous]

Hi Folks,

So i'm looking to pick up the CSP and I was wondering if I should wait or apply now before the two new Amex cards report. Here's my current situation:

-Current cards: 

Amex Gold , Open 5/2020 (hasn't reported yet)

Amex BCP, SL $8900, Open 5/2020 (hasn't reported yet)

Apple Card/GS, SL $8000, Open 2/2020

Comenity/BJ's, SL $5500, Open 12/2016

Dade County FCU Visa, SL $4500, Open 1/2019

Credit One, SL $2475, Open 2/2006

Credit One, SL $1300, Open 11/ 2015 (I'm an AU on this account)

-FICO Score 8: EQ 791, TU 784, EX 801

-Oldest account age: The Credit One Account opened 2/2006 so 14yrs, 4 mos

-Chase 5/24 status: 4/24 (Counting the two new Amex cards that haven't posted, otherwise 2/24?)

-Income: Household Income $200,000

My current balances are $400 on the Apple Card, $1000 on the Amex Gold and $430 on the BCP. All will be paid before the due date in full.

I no longer have any baddies, I had one that dropped off finally from EQ last month. The only "baddie" I can even find on my reports is a 30-day late from 4/2017 on the Credit One card that I am an AU on. Otherwise no late payments whatsoever.

All the times I have checked the Chase pre-qual page I have always received the 'No offers available" message.

Thanks!

[TSlop]

Do you have 2 Dade County FCU (a typo?) or only 1? If you have the 2, you'd be at 3/24 (5/24 with Amex).

I'm sure someone else will chime in. I don't know much about apping with Chase with 2 recent cards that haven't posted yet, but I have seen posts that mention Chase could close your new account after Chase sees them post. I think they'll SP you for a time period after you open.

[Jordan23ww]

Hey just in case this helps it will take your Amex cards approximately 2 months before they appear on your report. Forgive me if you already know this.  I was approved for my Amex BCP on April 2.  I've gotten 2 statements so far. I added my wife as an AU. It just hit her credit report on Sunday.  I'm still waiting for it to hit mine. Sending best wishes if you do apply for the CSP! 

[Anonymous]

Sorry post edited it was typo. Only one DCFCU Visa.

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[Remedios]

I would not.

Your Amex cards will report next month, at the same time CSP would, if you were approved. At that time, nothing may happen or Chase may close CSP.

While you're under 5/24, they are not a fan of being included in app sprees, because really, that's the reason for 5/24, as majority of people do not need three cards at a time, unless chasing SUBs or are experiencing financial distress. 

They also SP for some (I was "some") every other week for around 8 weeks, depending on conditions set at approval. 

I guess it all depends on your risk tolerance. Nothing bad may happen, or they might close it, which is usually followed by a period of time during which you wont get approved for any Chase product. I'd wait six months from Amex approvals.

[Anonymous]

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@Remedios wrote:

I would not.

Your Amex cards will report next month, at the same time CSP would, if you were approved. At that time, nothing may happen or Chase may close CSP.

While you're under 5/24, they are not a fan of being included in app sprees, because really, that's the reason for 5/24, as majority of people do not need three cards at a time, unless chasing SUBs or are experiencing financial distress. 

They also SP for some (I was "some") every other week for around 8 weeks, depending on conditions set at approval. 

I guess it all depends on your risk tolerance. Nothing bad may happen, or they might close it, which is usually followed by a period of time during which you wont get approved for any Chase product. I'd wait six months from Amex approvals.

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HEY!  Take it from someone who had this happen last year.

Don't do it.  Just wait.  Chase will do an AR over the first three months.  They will see a bunch of new credit and will likely close the account. They _MIGHT_ not, because you won't be at 5/24, but if you do, you'll get the account and then two months later lose the account.  It sucked.  I still miss my CSR.   

Let the Amex post first then if you really want to, app then, or wait 30 days to app.  That way chase's algorithms don't get magically surprised in a couple of months when they do an AR. 

AA sucks.  Feels like a punch in the gut, especially if you really want that card.

[Anonymous]

Well said.

That's exactly what I'm in the process of doing.

You have no idea how difficult it is to turn down pre-quals" for the big proze down the road.

My goal is to get the Chase/AMEX Trifecta and keep those card for life.

What scres me about Chase is exactly wat you stated, they are quick to close accounts, even thos of popular Youtubers with score in the low 800s/high 700s.

When it comes to Chase, I want to be extra, extra, extra careful, because i'd hate to complete this journey, obtain their trifect and then have them closed for some weird reason.

I'd rather do it the right, effective way, than take chances. 

Plus, i have to be honest, the lockdown over the last three months have made my process extremely easy, as I travel 3 to 4four time a month prior to the pandemic.

One question, what's your opinion on the Marriott Bonvoy cards, are they worth a Chase Trfect spot?

[Anonymous]

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@Anonymous wrote:

One question, what's your opinion on the Marriott Bonvoy cards, are they worth a Chase Trfect spot?

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Are you asking me?  I'm gonna say no... I like the Bonvoy Brilliant (formerly SPG) amex card. I wouldn't waste time on the Chase ones... and that is ***ONLY*** because I was (pre COVID-19) a marriott geek. This year.... eh. might lose all my status.

[K-in-Boston]

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@Anonymous wrote:

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@Anonymous wrote:

One question, what's your opinion on the Marriott Bonvoy cards, are they worth a Chase Trfect spot?

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Are you asking me?  I'm gonna say no... I like the Bonvoy Brilliant (formerly SPG Luxury) amex card. I wouldn't waste time on the Chase ones... and that is ***ONLY*** because I was (pre COVID-19) a marriott geek. This year.... eh. might lose all my status.

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Status has been automatically extended through 2021.  If you qualified for Silver/Gold/Platinum/Titanium/Ambassador for 2020, you have it (until they move you to whatever level you actually qualify for during the calendar year of 2021) until early 2022.  Note you'll only receive Annual Choice benefits for 50 and 75 night levels for 2021 if you actually earn those elite night credits during the next calendar year.  Of course if you do earn a higher status for 2021 for elite nights this year (or credit card spend granting a higher status) than you earned for 2020, that higher status will start from the day it is earned through the beginning of 2022.

The Amex Bonvoy Brilliant is a no-brainer for anyone staying at least a few nights in Marriott hotels each year.  The $300 credit and 50k night alone are worth much more than the AF.  The 35k certificate on Chase Bonvoy Boundless is also worth more than the AF; but if it is A or B choice and you do stay at Marriott frequently enough to gain value from the Amex product, it's a superior choice.  Chase Bonvoy Bold has a good signup bonus, but limited value after that.  There are a number of other cards that are no longer available for new applicants, so I won't make it any more complicated than it needs to be.

[Anonymous]

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@K-in-Boston wrote:

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@Anonymous wrote:

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@Anonymous wrote:

One question, what's your opinion on the Marriott Bonvoy cards, are they worth a Chase Trfect spot?

---

Are you asking me?  I'm gonna say no... I like the Bonvoy Brilliant (formerly SPG Luxury) amex card. I wouldn't waste time on the Chase ones... and that is ***ONLY*** because I was (pre COVID-19) a marriott geek. This year.... eh. might lose all my status.

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Status has been automatically extended through 2021.  If you qualified for Silver/Gold/Platinum/Titanium/Ambassador for 2020, you have it (until they move you to whatever level you actually qualify for during the calendar year of 2021) until early 2022.  Note you'll only receive Annual Choice benefits for 50 and 75 night levels for 2021 if you actually earn those elite night credits during the next calendar year.  Of course if you do earn a higher status for 2021 for elite nights this year (or credit card spend granting a higher status) than you earned for 2020, that higher status will start from the day it is earned through the beginning of 2022.

The Amex Bonvoy Brilliant is a no-brainer for anyone staying at least a few nights in Marriott hotels each year.  The $300 credit and 50k night alone are worth much more than the AF.  The 35k certificate on Chase Bonvoy Boundless is also worth more than the AF; but if it is A or B choice and you do stay at Marriott frequently enough to gain value from the Amex product, it's a superior choice.  Chase Bonvoy Bold has a good signup bonus, but limited value after that.  There are a number of other cards that are no longer available for new applicants, so I won't make it any more complicated than it needs to be.

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Well said, all around (and forgive me for forgetting *luxury* on the spg card... lots of folks are still upset about that switch)

And thanks for the update on status. I figured they'd do that, but I hadn't been paying THAT much attention since all of my work travel and speaking gigs basically went belly up.