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.
Pulled: TU and EX
FICO TU: 649 3/26
FICO EX: 635 3/27
Income: $65000, Own
FWIW, CK TU: 685 3/28
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!
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!
Congrats!!! Pay that bad boy in full every month, to avoid that APR, and use the card to get more top tier CL's.
Congratulations on your Chase approval!
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.