The minimum starting CL on the CSP is $5000 so if you only got $500 on your CFF, I'd wait a while before going for the CSP. You could try recon for a higher limit, or just use the card and pay it every month, and you will likely see an auto CLI in a few months. Chase has also recently changed to SP CLIs so you could call in and ask without risking a hard pull.
In the meantime, let your profile age some, maybe go for another card elsewhere, garden for a while to get under 5/24 and let your existing accounts age, then go for the CSP,
@elboullee wrote:Longtime listener, first time caller.
FICO8: TU [716 - was 720 yesterday], EQ [713], EX [718]
Inquiries: TU [2], EQ [2], EX [4]
I have no negatives on any report - no late payments, no write-offs, no BKs, no foreclosures, etc. But I just had two car loans and a student loan fall off, so I have a very thin profile. All three of my scores dropped by 25-35 points when those installment loans all fell off.
The only thing left on my reports are three credit card TLs with 8 months, 5 months, and 3 months of on-time payments.
As I wanted to get into the Chase ecosystem under 5/24, I decided that my best chances would be by establishing a banking relationship with Chase. As they currently have a $300 promotion [with direct deposit] I decided to pull the trigger and opened a Total Checking and basic savings account.
I figured that I would have to wait at least 2-4 weeks before any "pre-qualified" offers would be sent/emailed to me, but at the end of the checking account application process I was told that I was "approved" for three cards; FU, FF, and Slate.
As the FF was one of the two Chase cards I wanted, I accepted that offer and was immediately approved. However, I was given only a $500 CL.
Would like to get the board's thoughts on two things:
First, was the very low CL because of my thin profile? Would there be any point in asking my Chase branch rep or calling in for a CL reconsideration? If not, how long should I wait before asking for a CLI [or expect an automatic one], and how generous, generally, is Chase with CLIs?
Second, the only other Chase card I want is the CSP, to pair with the FF, a Chase bifecta if you will. How soon can I apply for the CSP with any realistic hope for approval?
I ask because I have two targeted Amex preaporovals that I want to jump on [Gold and BCE] but my next app will put me at 5/24. So what is the consensus as to the soonest I could realistically get the CSP?
Thank you all in advance for your thoughts and insights.
Its kinda odd. I have all of those thing (minus BK) and at the time of my app maybe only 3 TLs (so pretty thin), and bank card scores significantly less and I got approved for 1,500 CFF. So maybe you just got unlucky, but it seems AAoA is weighing in heavily against you. In this case it may be worth it to recon.
Anyhow, congrats on your approval
Wait till you show at least one year of history!
I would not app for anything for few months. Showing 5-7 CCs even if you get approve in less than a year with technically no credit history is not a good idea!
@elboullee, congratulations on the Chase FF approval. Though the SL came as a disappointment, it can now be grown with SP CLIs - this was not the case this time last month - so that's good news.
Best wishes on growing it and on getting your CSP in the future.
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Welcome to My FICO Forums, @elboullee, or at least out of the 'shadows.' 
Yes, the $500 approval barely squeaked by underwriting and Chase is known for preferring at least one year of revolving credit history to approve a new card. I'd agree with the above advice that waiting is definitely best. I'd also say that a recon is probably a waste of time in this situation.
As you diagnosed, your thin profile is probably holding you back. What cures a thin profile? Some members new to credit think it means keep adding more cards. Wrong. It's time. And patience. It appears you have four credit cards now. At this stage, that's more than enough. Garden for at least 12, maybe even 24 months. No new apps or inquiries. Use the credit you have monthly and pay-in-full. Enough utilization with each card will increase your odds of growing the trade lines, and growing to higher limits is part of your goal right now. Applying for more cards with your current profile will probably lead to either denials, wasted inquiries, and/or more low 'toy' limits.
Chase likes to see spend to give CLIs, whether auto or requested. The Freedom Flex has great rewards in the 5% category, but at this point, using it in the 1% categories too will help drive up spend and earn better CLIs. Don't get wrapped up in optimizing rewards; growing the cards and your overall profile is much more important.
CLIs are often helped by focused spending on the subject cards, but of course other parameters come into play like income, debts-to-income, FICO, and credit-seeking. So that's another reason why continuing to apply for more cards could keep the ones you have from growing. Scenario: you apply for new cards, even if denied or disappointing toy limits, your existing lenders see the additional credit seeking and decide you're too risky for more credit. So you get hit on both ends by proceeding too quickly - not only with your existing cards but with new applications. Patience.
Chase can be moderately generous with CLIs depending on the level of spend, but the overall profile factors are a consideration at the amount and speed of increases.
Yes, the Chase Sapphire Preferred minimum CL as a Visa Signature is $5K. With a recent $500 approval, you might be two or more years out from Chase feeling comfortable with $5K or higher. But, you've got your foot in the door and it will grow with time. The end reward is worth enduring the process.
With all your four cards under a year old, I would highly encourage you to put AMEX on the back burner for at least 12 months - if not longer. Four cards is plenty for now, IMO. The Gold can be a great card, but think about what it might do to your ability to drive up spend (and CLIs) on your existing cards. You'll be tempted to put spend on that NPSL to earn MRs, and neglect spending on your other cards. If you desire higher limits and a CSP with $5K+, an AMEX charge card is not your friend in this situation. Again, Patience. Did I mention that? 
Credit is a marathon, not a sprint. You just left the starting line. Save some for the middle of the race. Also, I assume your interest in CSP is the UR ecosystem, so why muddy the waters with AMEX/MRs while your primary goal is Chase/URs? In time, if you think it fits you, you can play in both systems.
It's true that you're close to 5/24, but I think that's a moot point. With such a thin profile, you don't need more applications regardless of 5/24. Gardening will be your friend.
Again, welcome to My FICO forums.
@elboullee wrote:Longtime listener, first time caller.
FICO8: TU [716 - was 720 yesterday], EQ [713], EX [718]
Inquiries: TU [2], EQ [2], EX [4]
I have no negatives on any report - no late payments, no write-offs, no BKs, no foreclosures, etc. But I just had two car loans and a student loan fall off, so I have a very thin profile. All three of my scores dropped by 25-35 points when those installment loans all fell off.
The only thing left on my reports are three credit card TLs with 8 months, 5 months, and 3 months of on-time payments.
As I wanted to get into the Chase ecosystem under 5/24, I decided that my best chances would be by establishing a banking relationship with Chase. As they currently have a $300 promotion [with direct deposit] I decided to pull the trigger and opened a Total Checking and basic savings account.
I figured that I would have to wait at least 2-4 weeks before any "pre-qualified" offers would be sent/emailed to me, but at the end of the checking account application process I was told that I was "approved" for three cards; FU, FF, and Slate.
As the FF was one of the two Chase cards I wanted, I accepted that offer and was immediately approved. However, I was given only a $500 CL.
Would like to get the board's thoughts on two things:
First, was the very low CL because of my thin profile? Would there be any point in asking my Chase branch rep or calling in for a CL reconsideration? If not, how long should I wait before asking for a CLI [or expect an automatic one], and how generous, generally, is Chase with CLIs?
Second, the only other Chase card I want is the CSP, to pair with the FF, a Chase bifecta if you will. How soon can I apply for the CSP with any realistic hope for approval?
I ask because I have two targeted Amex preaporovals that I want to jump on [Gold and BCE] but my next app will put me at 5/24. So what is the consensus as to the soonest I could realistically get the CSP?
Thank you all in advance for your thoughts and insights.
You definitely should wait. Your $500 approval was a signal that your application was considered marginal. It's too soon to go for their premier card.
The advice you got from @Aim_High was super.
Welcome to the forum.
congrats on the approval
