Chase Sapphire Preferred

[5KRunner]

I’ve been seeing the CSP “Selected for You” offer on the Chase website for a little over a week, even though I was at 13/24 at the time the offer appeared. FICO8 scores have recently skyrocketed due to the cancellation of a card on which I was an AU that was just under 90% util at the time.

So, I went back and forth on this one, trying to determine whether the SUB - 60K UR after spending $4000 in 3 months - is worth it. I can easily meet the SUB with grocery spend alone.

I finally went ahead with the app last night and was approved with my largest SL by far - $19,400. APR is 25.24%, which is irrelevant as I PIF every month.

Scores at the time of approval: EQ 769, TU 796, EX 805. They pulled EX and TU, just as they did when I was approved for CFU in February (since PCed to CF).

Total CL is now $130,450 spread across 19 accounts, several of which are old and offer no rewards of any kind, and are thus SD until they die from lack of use. 16 of those are primary, one held jointly with my wife, and 2 AUs.

Just a few days before, I was approved for an AmEx BCP with a miserly SL of $1000 (my second AmEx after being approved for CM in February, since PCed to BCE, to which I’ve added our 17-year old as an AU).

[Anonymous]

Congrats on your new CSP card! 

[Anonymous]

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@5KRunner wrote:

Total CL is now $130,450 spread across 19 accounts, several of which are old and offer no rewards of any kind, and are thus SD until they die from lack of use. 16 of those are primary, one held jointly with my wife, and 2 AUs.

^^^^^^^

Sounds like it's time to play the combine and trim game.  

19K w/ Chase means you're well beyond starting and rebuilding.  You've accomplished nearly a 20K Initial CL with CHASE of all banks!

[MrDFinance]

Congrats .....Bunch of lol/24 wins on the forums lately 😌

[5KRunner]

Combine and trim is exactly what I’m doing... I’ve already closed 3 that were useless to me, plus the AU I mentioned above. One more is a 0% Samsung account that’s about to be PIF, and there are at least two more on the chopping block. I can probably afford to get rid of two more AUs as well.

[5KRunner]

Re: “Bunch of lol/24 wins on the forums lately”

Yeah, they’re pushing CSP HARD. It popped up in my wife’s account not too long ago but we passed on it. We don’t travel much so I didn’t think it made sense until I realized that it’s a $600 reward for spending what I already spend. I’ll net $505 if I do nothing else but meet the SUB and close or PC in a year.

[Anonymous]

SUB's are great when you have big expenses like TAXES that you have to pay anyway.  Take 2-3 or more CC's on a spin through the IRS payment website for a quick payback.  Even property taxes make this easy if you opt out of your escrow on your mortgage.  Got an insurance bill coming up for car/home that's usually an easy $100 you can get back on a new CC.  It all adds up until you start having to look into the abyss to find lenders that don't have a waiting period between SUB's to keep collecting on.

[5KRunner]

Yeah, I’ve been waiting to make a small furniture purchase and this SUB will just about cover it!

[M_Smart007]

"I finally went ahead with the app last night and was approved with my largest SL by far - $19,400."

Congratulations!

[SoCalifornia]

Fantastic return on the CSP, congrats. I've been seeing a few jump on these as they are popping into people's accounts. I'm having to wonder if the iron is hot for Chase customers...