@Anonymous wrote:Sorry, forgot my login so had to make a new account. I am the OP. As an update, I was denied for the CSP. I recon'd and was told that there were two reasons I wasn't approved. 1) I don't have enough credit history although he said that in and of itself wasn't enough to deny me. 2) The main reason was that he said I didn't make enough to warrant a minimum $5K CL card. That's a fine enough reason although I disagree. I make $51K in a small market city and have a nice rainy day fund built up with Chase (I've been banking with them for 5 years now, both checking and savings). But I wasn't going to argue with the man. I thanked him politely and hung up.
The guy said that my profile looked good enough to apply for most any other of their cards though. I thought I better get in with Chase, plus I like the bank, so I decided to app for the FU and figured I could accumulate UR there until I could get the CSP.
I applied and got approved after a fraud call. But here's the kicker: my CL is $10K. How can this be possible? If I can get a $10K CL with the FU, how come I can't get a $5K CL with CSP? Is there a difference in the risk of the two cards so they're willing to exte3nd more credit with FU??
I'm confused, need some advice from some of you veterans. Thanks in advance.
You're giving them too much credit for rationality.
Give it 6 months, take good care of your Freedom Unlimited card, and I'm sure you'll be able to get the CSP card down the road.
@Anonymous wrote:Sorry, forgot my login so had to make a new account. I am the OP. As an update, I was denied for the CSP. I recon'd and was told that there were two reasons I wasn't approved. 1) I don't have enough credit history although he said that in and of itself wasn't enough to deny me. 2) The main reason was that he said I didn't make enough to warrant a minimum $5K CL card. That's a fine enough reason although I disagree. I make $51K in a small market city and have a nice rainy day fund built up with Chase (I've been banking with them for 5 years now, both checking and savings). But I wasn't going to argue with the man. I thanked him politely and hung up.
The guy said that my profile looked good enough to apply for most any other of their cards though. I thought I better get in with Chase, plus I like the bank, so I decided to app for the FU and figured I could accumulate UR there until I could get the CSP.
I applied and got approved after a fraud call. But here's the kicker: my CL is $10K. How can this be possible? If I can get a $10K CL with the FU, how come I can't get a $5K CL with CSP? Is there a difference in the risk of the two cards so they're willing to exte3nd more credit with FU??
I'm confused, need some advice from some of you veterans. Thanks in advance.
I can understand your confusion. It makes no sense why they would approve you for a $10K Freedom Unlimited but deny you for a $5K CSP. We will never fully comprehend how these credit card issuers work or what the underwriting process takes into consideration. What you can do is, after 1 year, convert your FU to a CSP if you really want the card and avoid a HP. But the downside if you do it this way, you will forfeit any signup bonus that comes with applying.
