@coreysw12 wrote:
@dsotm76 wrote:
@Citylights18 wrote:I don't know if I would get into a CSP with an income of 32k. The SUB of 60,000 points requires a 4,000 minimum spend in 3 months.
I'm curious, what kind of income are they looking for with the CSP? I'm around $44K. If I factor in Mom's SSI that's put into my account directly, that bumps it up some.
You can't include your mom's SSI as part of your income. I mean, you can try, but it would be lying, and if they asked you for any income verification, you'd have no proof that it's your income, so it would result in an automatic denial. Best to just be honest about your income.
There is no set income requirement for the CSP, or for most other credit cards. I saw one student who made less than $20k/yr get approved for a CSP. But as a general rule, whatever you lack in income you need to make up for with solid credit history. And vice versa.
As others have mentioned, Chase doesn't usually like to be the first one to give you a credit card with over $5k CL. But I think they're more lenient with that if you have high income or solid credit history to back it up. My first over-$5k CL card was my CSP - the only other card I had at the time was only $3k. But I think this was partly because they decided the money I put through my chase checking accounts each year is enough to justify a larger CL.
The reason I mentioned including the SSI is because when putting in the annual gross income, the disclaimer says "You can also include money that someone else deposits regularly into your account (individual or joint). Where she's older and doesn't do "online," I have her deposit it into a joint account and then pay her bills online out of it. We're both on the account, which is why I've always included it in the past.
I did read on the TPG blog that usually anything in the $40K range and above is most likely safe. That makes me feel a bit more confident. I just worry about cold apping and if I'll have to recon.
Your reply about the credit limits makes me feel better, though. With the exception of one card (which I'll close if I get the CSP), all of my cards are at least $5K or higher. Hopefully that will help. Plus, with the exception of the 0% interest balances on my Best Buy card, they are all at a zero balance each month. My Best Buy is at a 40% utilization and overall I'm around 4%.
I greatly appreciate the reply!!
(ACHIEVED!)
@Anonymous wrote:
@coreysw12 wrote:
@dsotm76 wrote:
@Citylights18 wrote:I don't know if I would get into a CSP with an income of 32k. The SUB of 60,000 points requires a 4,000 minimum spend in 3 months.
I'm curious, what kind of income are they looking for with the CSP? I'm around $44K. If I factor in Mom's SSI that's put into my account directly, that bumps it up some.
You can't include your mom's SSI as part of your income. I mean, you can try, but it would be lying, and if they asked you for any income verification, you'd have no proof that it's your income, so it would result in an automatic denial. Best to just be honest about your income.
There is no set income requirement for the CSP, or for most other credit cards. I saw one student who made less than $20k/yr get approved for a CSP. But as a general rule, whatever you lack in income you need to make up for with solid credit history. And vice versa.
As others have mentioned, Chase doesn't usually like to be the first one to give you a credit card with over $5k CL. But I think they're more lenient with that if you have high income or solid credit history to back it up. My first over-$5k CL card was my CSP - the only other card I had at the time was only $3k. But I think this was partly because they decided the money I put through my chase checking accounts each year is enough to justify a larger CL.
Yeah I have seen similar situations myself, although not common but also not unseen haha. Two questions for you if you don't mind. Do you think having a relationship with Chase helps in any way, even a bit? I do have a checking account with them. Second, you did mention you did put a good amount of money through your Chase checking accounts each year, which reminds me of something called Special Consideration. Maybe you have heard of this but it is when a banker at Chase would put in a special consideration for a customer applying for a credit card, usually when they got denied. I believe to trigger that, customers had to put around $10,000 or more in an account, but I believe Chase no longer does this. Anyways, if I did have an amount like that in my account, do you think it could help in a way as well even though they don't do that Special Consideration anymore? Thanks for your feedback and datapoints!
1) It's really hard to know. But given my otherwise terrbile credit profile at the time, I have to assume it must have affected it. I've had 2 checking accounts with them for around 12 years, and between my paychecks and work reimbursements I deposit around $150k/year in them. I also had a previous car loan through them that was paid off in good standing. However, I had a Chase credit card which got charged off in the mid-2010's, and I settled for less only 4 months before applying for the 2 new Chase cards - so the relationship wasn't all positive, but I can't imagine I would've stood any chance of being approved had it not been for the banking relationship with them.
2) As already answered above, I don't think your checking accont balance will make any difference, I think they're more interested in how your relationship with them is, as a whole. Like how much money you regularly deposit, whether you have a habit of overdrafting, whether you've had chase credit products in the past, etc.
Total Loan Balance: $43k / $65k
Total SL: $78k
@FinStar wrote:
@Anonymous wrote:
@coreysw12 wrote:
@dsotm76 wrote:
@Citylights18 wrote:I don't know if I would get into a CSP with an income of 32k. The SUB of 60,000 points requires a 4,000 minimum spend in 3 months.
I'm curious, what kind of income are they looking for with the CSP? I'm around $44K. If I factor in Mom's SSI that's put into my account directly, that bumps it up some.
You can't include your mom's SSI as part of your income. I mean, you can try, but it would be lying, and if they asked you for any income verification, you'd have no proof that it's your income, so it would result in an automatic denial. Best to just be honest about your income.
There is no set income requirement for the CSP, or for most other credit cards. I saw one student who made less than $20k/yr get approved for a CSP. But as a general rule, whatever you lack in income you need to make up for with solid credit history. And vice versa.
As others have mentioned, Chase doesn't usually like to be the first one to give you a credit card with over $5k CL. But I think they're more lenient with that if you have high income or solid credit history to back it up. My first over-$5k CL card was my CSP - the only other card I had at the time was only $3k. But I think this was partly because they decided the money I put through my chase checking accounts each year is enough to justify a larger CL.
Yeah I have seen similar situations myself, although not common but also not unseen haha. Two questions for you if you don't mind. Do you think having a relationship with Chase helps in any way, even a bit? I do have a checking account with them. Second, you did mention you did put a good amount of money through your Chase checking accounts each year, which reminds me of something called Special Consideration. Maybe you have heard of this but it is when a banker at Chase would put in a special consideration for a customer applying for a credit card, usually when they got denied. I believe to trigger that, customers had to put around $10,000 or more in an account, but I believe Chase no longer does this. Anyways, if I did have an amount like that in my account, do you think it could help in a way as well even though they don't do that Special Consideration anymore? Thanks for your feedback and datapoints!
The 'special consideration' avenue is no longer in place. Having the Chase banking relationship can help to some extent, but it is not a shoe-in for a CC approval, given all other factors that are considered to qualify.
The advantage of having a relationship comes with potential pre-qualified offers.
Yeah I heard they no longer do this 
Yeah I am sure it can help a bit like you mentioned and I guess I will just have to play the waiting game! Thanks for the reply!