App for CSP with recent CLI on BCP?

[Anonymous]

I'm interested in applying for CSP, which I know generally requires experience with limits >$5000. I received a CLI on my BCP to $7500 a couple of weeks ago. Do I need to let this limit sit on my credit report for a few months before I apply, or should I apply now? Though the CLI is recent, I've had the card for over six months. I have three total open accounts (2 revolvers and a charge), all in good standing and my utilization is low (12%). AAoA ~ 1 year. FICO ~ 750.

Thanks--Tech

[vpae]

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@Anonymous wrote:

I'm interested in applying for CSP, which I know generally requires experience with limits >$5000. I received a CLI on my BCP to $7500 a couple of weeks ago. Do I need to let this limit sit on my credit report for a few months before I apply, or should I apply now? Though the CLI is recent, I've had the card for over six months. I have three total open accounts (2 revolvers and a charge), all in good standing and my utilization is low (12%). AAoA ~ 1 year. FICO ~ 750.

Thanks--Tech

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I can't tell for sure if your new BCP CL has posted yet. So unless you are in a hurry, I would at least let the BCP CL to post to your reports. That gives Chase a reference/jumping point and will also make your utilization look even lower (even if you math factored it in, your report doesn't/haven't) and may raise your score.

It doesn't have to sit there for a few months, just as long as it's posted to your reports (hopefully all of them).

Also, I should add that since Chase normally doesn't do initial CL recon (even with another HP, it's usually rare), it's better to set yourself in the best position to get a nice starting CL than to app early and get stuck with a lower limit since future Chase CLI requests are HPs 

[Creditaddict]

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@Anonymous wrote:

I'm interested in applying for CSP, which I know generally requires experience with limits >$5000. I received a CLI on my BCP to $7500 a couple of weeks ago. Do I need to let this limit sit on my credit report for a few months before I apply, or should I apply now? Though the CLI is recent, I've had the card for over six months. I have three total open accounts (2 revolvers and a charge), all in good standing and my utilization is low (12%). AAoA ~ 1 year. FICO ~ 750.

Thanks--Tech

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have you checked pre-qual on chase.com and see what they offer you?

Is the BCP your only credit card?

[ACsteel]

I say play it safe and wait a couple of more months, let that new CLI post on your reports for atleast a couple of times.

[Creditaddict]

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@ACsteel wrote:

I say play it safe and wait a couple of more months, let that new CLI post on your reports for atleast a couple of times.

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a credit limit is a credit limit once it's reported.

if it's showing now I would apply now.

[virgo]

+1.

CBs are real time. Unless they have your old reports, no one but you and whomever reported the CLI knows how long its been there.

As soon as my NFCU SIG visa hit, Chase followed suit and even commented on my limit with NFCU.

[Anonymous]

Thanks for the input. The increase is showing across the board with the CBs. Based upon the feedback here, I'll go ahead and apply. 

[vpae]

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@Anonymous wrote:

Thanks for the input. The increase is showing across the board with the CBs. Based upon the feedback here, I'll go ahead and apply. 

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Good luck!!

[Anonymous]

Approved with an initial CL of $9000. Thanks for the help guys. 

[vpae]

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@Anonymous wrote:

Approved with an initial CL of $9000. Thanks for the help guys. 

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YAY! NICE CL! Congrats!!!! Great card, enjoy!