The way I see it, you've landed yourself the golden egg! I love my Chase FF. After starting out positively sure that I wanted CSP, I ended up choosing FF instead, over all other Chase CCs. Better still, after using my FF regularly, it rewarded me with a generous and quick auto CLI, just three months after opening the card.
Regardless, I get where you're at. I've been sitting on my hands, waiting for a better time to apply for BCE. All I can say is, the advice on this thread is awesome, and consistent. So if you choose to follow advice and wait, during times when you feel impatient do what I do: remind yourself that acquiring credit is like eating an elephant --- the only way to get through it is one bite at a time.
Congratulations on your new card!
Thank you everyone for the comments.
After taking them all in, it seems that the consensus is:
[a] With less than a year of current TLs, I was lucky to get the CFF in the first place.
[b] Having my Chase banking rep call the reconsideration line on my behalf to ask for a CLI is unliklely to be successful, but with Chase's new soft pull policy it can't really hurt - save the embarassment of being denied.
[c] Getting a CSP right now is near as makes no difference to impossible so don't even bother; wait a year or so and reevaluate. Though missing out on the upcoming 90K promotion is annoying - then again, if there's no chance of being approved, I'm not really missing out on anything.
[d] Put as much spend as possible on the CFF, max out the new card one or more times each month, paying everything off before the end of the statement period. Which is what I am currently doing with my other cards - though not all at once, but strategically, based on oldest-to-newest for better odds at larger CLIs. Also, concentrate on the CFF. Don't worry about optimizing points/miles/cashback with my other cards.
[e] Rather than helping me in achieving my goals, at this point, applying for a bunch of additional cards, even if I'm approved, could very well be counterproductive.
All of that sounds eminently logical and practical. And I thank everyone and do in fact plan on taking all of that advice - with perhaps one small execption. If using the "apply with confidence" tool looks good [already preapproved with SUBs for Plat, Gold, Green, BCP, BCE, and all of the SkyMiles cards] I think I will - for reasons - still go for the BCE, regardless of CL. Though if I do it, that would be my last app until early next year if not later.
Edited to add: If I do decide to go for the BCE, it wouldn't be for at least two months.
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.
What's patience? Lol. Always love an approval. But they do tend to be better approvals after some time in the garden. Some lenders are funny about that. Some being conservative while others open the vault.
WooHoo!! Congratulations on your Chase Approval!!👏🏼🍾🥂
Congratulations on your CFF approval!
Congrats on getting into the Chase ecosystem. As others have said upthread, time is truly your best friend. In addition to potentially growing your FF, you may eventually get pre-approved offers for the Sapphire brand of cards with potential limits / APRs with said offers. Best of luck to you and congrats again on getting into the Chase system.
Longtime listener, first time caller.
FICO8: TU [716 - was 720 yesterday], EQ , EX 
Inquiries: TU , EQ , EX 
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.
@elboullee congrats! Either way you have established a great foundation w/ Chase!
Thanks again for all the comments.
I think that I have reconsidered apping the BCE for now. It really only works for me in conjunction with the Gold Card anyway, and as others have opined, doing two non-Chase applications right now just is not a very good idea.
So for right now, I think that I'm just going to wait for 2 to 3 months, and then go in to my branch and asking my banking rep if he thinks trying to intercede on my behalf or phoning in to the reconsideration line for the CSP if denied has any chance of working. By that time I will have just over a year of current TLs and all my scores should be in the 760-780 range. If that doesn't seem like it has a decent chance of happening, then I'll just hold out for the next 6-8 months.
Just to be clear, I completely understand what everyone is saying about waiting. And I don't in anyway doubt the soundness of that advice. It's just that I would really like to get this done and dusted as soon as possible.
By the by, as an aside, what do people here think about credit builder loans, specifically for the purpose of diversifying my thin profile. I'm thinking of the Self 24-month product here. My hesitation is that with an otherwise perfect profile, and FICOs all in the 720-740 range, there might not be much benefit.
Thanks again and I look forward to reading people's thoughts and observations.
Don't rush the CSP but keep checking the pre-qual offers on your account. If you see the CSP with a green star, then go for it. I went from no cards to a CSP in 16 months.