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Finally got my foot into Chase..

burnzeyy
New Member

Finally got my foot into Chase..

Hey everyone, a longtime lurker here, but this is my first post here, and I wanted to provide some data points on the CSP.

 

Background Info: I ran into a few personal issues a few years ago, and I saw my credit score decline significantly after making multiple late payments (28) on a car loan. I was, safe-to-say, financially irresponsible. But, I finally got my stuff together and got caught up with those payments. Last Friday, I had 4 pre-qualified offers show up for Chase (Slate, Freedom, FU, and CSP). This was the first time any pre-qualified offers have showed up. I know some accounts had not posted yet, so I waited until yesterday to give the CSP a go, and received the 30 day notice. While checking my Chase account this morning, I saw a new account had been added! I'm not sure if this is a factor at all, but I've maintained a checking account with Chase for the past 8-9 years, yet in the past, I've never been able to get approved of any credit card with them, even with a banker recon.

 

SL: $5000

APR: 23.74%

Pulled: TU and EX

FICO TU: 649 3/26

FICO EX: 635 3/27

Income: $65000, Own

FWIW, CK TU: 685 3/28

 

Factors:

Installment Car Loan: 50 Months, 24 30 Days Late, 4 60 Days Late, Closed Feb 2016

1 Collection, Closed May 2016 settled for less than full balance

62% Utilization: 4 Retail, 4 Credit, No lates, AAoA - 3 yr, 7 mths, 5 Inquires

Kohl's - $300 (8% 5 yr, 8 mths)

Amazon (Sync) - $680 (57% 1 yr, 4 mths)

Macy's - $1000 (20% 5 yr, 8 mths)

GameStop (Commenity, went through a gaming phase) - $1220 (51% 1 yr, 10 mths)

BoA (Graduated secured w/o CLI 🤔, only keeping it due to being oldest account) - $400 (12% 6 yr, 8 mths)

Credit One Cash Back (Cancelling ASAP with this approval, TBH not even sure why I have this 🙃) - $650 (28% 9 mths)

Cap1 QS1 (Daily Card) - $2250 (67% 1 yr, 4 mths)

Cap1 Platinum (Used for school-Once paid off by May, planning to PC to QS w/o annual fee and move the QS1 limit to this once that is paid off)   - $4750 (80% 5 yr, 8 mths)

 

My plans for the CSP is to use it as a daily and pay for my summer and fall classes while the rest get sockdrawed (except Credit One-that's getting cancelled and cut up); easy way to meet the min. spend for the bonus!

Message 1 of 5
4 REPLIES 4
CharlieFoxtrot
Established Contributor

Re: Finally got my foot into Chase..

Congratulations on the awesome approval and welcome to the forums! 

 

I'd focus on paying those balances down asap! You're running a high utilization. You'll see a nice score bump once you do!! Again, grats on the approval!

In the wallet:
Amex PRG ~ Amex BCE ~ Discover ~ NFCU Cash Rewards Visa Signature ~ NFCU Platinum Visa ~ NFCU Line of Credit ~ Chase Amazon Prime Visa Signature ~ PenFed Cash Rewards Visa ~ PenFed Promise Visa ~ Fairwinds Credit Union Cash Rewards Visa ~ CapOne QS1 ~ Lowes Store Card

Closed on mortgage 8/9/17!! Woot!
Message 2 of 5
Jerry45
Valued Contributor

Re: Finally got my foot into Chase..

Congrats!!!  Pay that bad boy in full every month, to avoid that APR, and use the card to get more top tier CL's.

Message 3 of 5
kidink1911
Established Contributor

Re: Finally got my foot into Chase..

Congratulations on your Chase approval!

AMEX Platinum- NPSL // AMEX Gold- NPSL // AMEX Delta Platinum- $5,000 // NFCU More Rewards AMEX- $1,000 // Discover IT Chrome- $1,000 // Sunbit Visa- $1,000 // Capital One Venture- $3,550 // AMEX Cash Magnet Card- $1,000 // Venmo Credit Card- $1,200 // Capital One Spark- $500 // NFCU nRewards- $250
Starting Transunion Score: 548
Current Transunion Score: 642
Goal Transunion Score: 775


Take the myFICO Fitness ChallengeStarting Experian Score: 588
Current Experian Score: 623
Goal Experian Score: 775


Take the myFICO Fitness ChallengeStarting Equifax Score: 554
Current Equifax Score: 624
Goal Equifax Score: 775


Take the myFICO Fitness Challenge
Message 4 of 5
NotAPro
Valued Member

Re: Finally got my foot into Chase..

Congratulations!! that is my next goal,  the CSP!... I could probably get it now but I have some other offers active at the moment and its not a sure thing. I'm working on my credit file to have a more solid opportunity when I apply for it and not risk any HPs. 

 

Again, congrats! awesome card.

In the Garden since 6/26/17 - Have everything I need at this point, not looking to apply for any more credit anytime soon.

Message 5 of 5
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