Chase Sapphire Preferred app, FU 6.99% suggestions : Update: Approved

[Anonymous]

Hi all.

Been bouncing around here for a while but this is my first post.  Looking for some advice in regards to pulling the trigger on the CSP.  I've had the green check for it in the "Just For You" section of my account for the past few months and have been eye-balling it for much longer, single rate initially showing for 25.24% and then changing to 22.24% last month.  Rate would be the highest of all my cards but don't carry a balance on a card with interest, so rate doesn't really matter. Guess it's just a matter of principle as to why I haven't jumped on it yet.  Lo and behold, today the offer disappeared from my JFY section but is still showing with same rate in Chase Credit Journey.

A little history:

     Had all my cards go into collections or charged off back around 2004 or so. Citi, CapOne, Amex, Sony, Sears all gone as a result of being laid off from a very well-paying job and the job market not being all that great in my area at that time.  No BK, that's not my style. Ran around doing everything I could for years to pay everything back and did it all with cash.  Didn't even consider getting another card until Jan 2014.  Everything from that period has fallen off my reports.

Current cards:

     USAA WWP Signature Visa - 1/14      0/$30k (started at $5k, CLI to $15K in 9/14 then a second to $30k in 9/15)

     Chase FU - 8/15        0/$5700 (PC from Slate in 2/19)

     AMEX BCE - 5/17     0/$2000  (CLI from $1k in 2/19) (back in their good graces - still with Member since '02!)

     Discover IT - 3/19     3220/$4800 (0% BT until 6/20 - easily paid off by then)

All 100% on time, no lates, no baddies.

Overall util 7.5%

AAoA - 2y4m

AoOA - 5y5m

Scores: EX 738    TU 739    EQ 745

Income - $97k

All cards are PIF before statement cuts (with exception of 0% Disco). CFU is my daily driver (DW is AU), USAA -car insurance auto-pay every month and a little something now and then for Amex to keep them happy should I decide to go bigger with them down the road (cash back cards don't do much for me, used for 0% BT). Income on apps has always just been my own and have never added what DW contributes.

So should I pull the trigger on the CSP or wait until the offer is back in my JFY section and not just in Credit Journey?  To add another wrench to the mix ---  Today, same day the CSP offer disappeared, I received an email offer from Chase for the FU for 6.99% until 1/31/20, then back to my original APR.  Like I said, I don't carry balances, but I'm also one that likes to have an option for a "Just In Case" situation, even if it's only for 6 or so months.  If I take the offer, would that affect my chances at another CSP offer appearing again?

As for why the CSP - the SUB is definitely attractive and, between DW and I, wouldn't have a problem hitting the spend.  Also I like the flexibility of a points card with a reasonable AF.  Also being able to convert what I've accrued on the FU to UR points is a Bonus.  We travel several times a year and the SUB plus what I've got on the FU would equate to a couple round trip flights for the entire family.  JetBlue is our primary airline and adding to the pooled TrueBlue account would make everyone happy.  Will probably be doing the JetBlue Plus card also but don't want to spook Chase with the apps for the two being too close together. Thoughts on that?

Sorry if this ended up being a little long-winded but thanks for any advice anyone might have.

[Anonymous]

I would guess the Disco reporting a high balance is why the JFY offer disappeared.

Usuaully the offer APR going down is a good gauge of where you stand for an approval.  The lower the APR the higher the approval chances and usually the higher the CL assigned at approval.

CSP is a good bonus opportunity.  You're definitely under 5/24 so, you have some options.  It depends on if you can meet the spend for the bonuses or not.  

From my standpoint maybe add a 2nd or 3rd option to the mix like BOA / WF / Amex ED (pick it up for the $0/0% offer and move some of that balance away from Disco to bring things into line again)

There's a ton of ways you could head in with what you have right now and what you might want moving forward.  

[addicted_to_credit]

I cold apped for the CSP last month, it took a few days but I got approved with a nice sl. I’d say it’s up to you most everything looks in order for an approval for you. It looks like disco is a bit high. Chase is a strange animal though so who knows I was approved with an old collection and a couple lates I can’t make go away which I think would be worse than high utilization on one card.

[CreditInspired]

Hi OP and welcome to MyFICO

My gut instinct tells me you should apply for the CSP. Your credit profile is strong, your income is nice, and you have a $30K CC in your arsenal. IMHO, I think you definitely have a good chance of approval with a decent SL. 

GL2U

[Anonymous]

I have considered the Amex ED for their 0% BT offer and the MR earning is definitely more attractive than the cash back card I've got from them right now. But I'm hesitant due to the only 2x CLI I received earlier this year after asking for the 3x that everyone mentions (first one I've requested since getting the card).  Was a little surprised as every other card I have has at least a 4x higher CL.  Used to put a decent amount of spend on the Amex, as much as 90% util of the initial $1k at times, and always PIF before the statement was cut.  Maybe, despite letting me back in, Amex still has me on a tight leash due to my issue 15+ years ago. No pre-quals from them, just the perpetual offer to upgrade/PC to the Cash Preferred.  The WF and BoA cards don't really appeal to me that much.  Feel like I'll just end up with more cards sitting in a drawer once the 0% is up.

Coincidentally, after getting the mail yesterday afternoon, I found that Chase sent me the 12 month/0% BT checks for my FU that I've seen others mention. Don't know that I want to carry a balance on that when I'm looking for another car from them though.  And the terms seem very questionable, appear to state that if ANY purchase is made after the BT goes through and the ENTIRE balance isn't paid off, including the BT, then the entire balance will begin to accrue interest.  Kinda defeats the purpose.  But I guess since that's the second promo that Chase has thrown at me in two days, that one plus the 6.99%/6 months, they are trying to get me to do something.

I have seen others that have used the pre-qual through Credit Journey have had success despite not having one in their JFY section, so that gives me some hope and I may go that route.  The only issue is that even though it's linked to and accessed directly through my Chase account, the prefilled and grayed out boxes with my info is incorrect in the apply section.  It has an address that I have not used in almost 20 years and I can't do anything to change it.  (Not like needing to enter just income and phone # in JFY)  I did call Chase about it a few weeks back and the CSR I spoke with stated that she did see that address floating around in my account, despite the fact that I have never used that address with Chase and had no affiliation with them when I lived there.  She stated that she did eliminate it from the account but it hasn't changed anything with Credit Journey.  I'm assuming that's a previous address pulled off my CR.  Just unsure if I hit apply with that info showing if I'll be able to change it before the app is finalized or it will trigger some red flag as it's not my current address.

[Anonymous]

Little update:

My intention this morning was to commit to a way to spread out the 0% on the Disco to another card with a 0% BT to bring down the util and perhaps look a little more appealing.  Prior to doing that I hopped onto my Chase account and checked JFY just for kicks, hoping that the pre-qual offer for CSP had reappeared overnight but not having much faith as it had just disappeared.  Looked in there and was the pre-qual back??  Nope.

There was a green star (technically a white star inside a green bar) over the CSP and it said you are already approved!!!!   $17k SL already showing!!  Literally a one click app with zero additional input needed from me.

There was also an "already approved" for a $35k auto loan at 4.86%.  Not needed at the moment but nice to know there are options when the time comes!  Never owned a new car and haven't had a car loan since '04.  Cash was king for me back in the day.

Wanted to say Thanks for the input to those of you that responded.  This little thread was a whole lot more short-lived than I anticipated.  I guess my past has made me my own worst enemy when it comes to going after a card that isn't a sure thing.  Appreciate the confidence boost! Now to hit the SUB and put my sights on the jetBlue Plus in a few months.  No other plans at the moment.

Oh, in case it wasn't obvious, I took up Chase on their offer! 

[Remedios]

Congrats on your approval 

[Anonymous]

Congrats on your solid approval, OP!