Just got 26K approval on first real credit card. I WANT MORE!!

[takeshi74]

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@Anonymous wrote:

Do you think I should try for another chase card after I just got approved for the preferred? Literally I got approved in the last week.

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No way for us to know.  We don't have the specifics of the underwriting criteria for the CSR.  Despite what you've posted we don't have a lot of information on your credit profile.  It's possible for one person with a strong credit profile in good shape get approved for one card right after another.  It's also possible for another person with a thinner profile and/or weaker profile to get denied.  From what you've said it sounds like you only have the auto loan and 2 cards which makes for a very thin profile and recent new credit accounts and credit seeking activity will probably have a bigger impact for you.  That said. if you want to find out then apply.

There's a lot of overlap between the CSP and CSR.  It sounds like you need to more carefully consider cards you're applying for in future.

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@Anonymous wrote:

WOuld oyu call chase or would you try online?

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Doesn't matter.  Method of applying doesn't change your credit profile or income.

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@Anonymous wrote:

I have never had any credit. I have always had the philosophy that if I cannot afford it I should not buy it.

The two aren't mutually exclusive.

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@noobody wrote:
Do Not worry, even if you are declined for CSR, you can always move credit line from CSP to open CSR
You are IN!!!

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Only if the reason they can't open the new account is that the OP is at his internal limit.  Reallocating doesn't overrule concerns with the applicant's credit profile.

[Anonymous]

Update - So we received the card and it was actually 24K not 26K but we're not complaining. We called to see about also getting the reserve card. However they pulled equifax and experian this time instead of transunion and experian. Unfortunately we had some stupid old medical bills totaling $240 bucks we didint know was there on equifax. We thought all this was handled years ago. Anyways they denied us again due to this unforseen circumstance. We have experian tracking and have been gauging our credit worthiness by it. Oh well lesson learned. However, the thing that pisses me off is that due to the second pull my fico plummeted 57 points! Thank  you for all your help everyone....

[noobody]

Call recon offer reallocated credit line, they may still be able to open csr for u

[Anonymous]

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@noobody wrote:
Call recon offer reallocated credit line, they may still be able to open csr for u

Agreed... I would try and recon that application.

[righthererightnow]

CONGRATS! That is amazing. I have no suggestions, just a congrats. I would love love that kind of credit line. Wow! : )

[Anonymous]

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@Anonymous wrote:

Update - So we received the card and it was actually 24K not 26K but we're not complaining. We called to see about also getting the reserve card. However they pulled equifax and experian this time instead of transunion and experian. Unfortunately we had some stupid old medical bills totaling $240 bucks we didint know was there on equifax. We thought all this was handled years ago. Anyways they denied us again due to this unforseen circumstance. We have experian tracking and have been gauging our credit worthiness by it. Oh well lesson learned. However, the thing that pisses me off is that due to the second pull my fico plummeted 57 points! Thank  you for all your help everyone....

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You might want to check and see if you missed something else going on with your report. I've never heard of an inquiry dropping a score by 57 points. 

[Anonymous]

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@Anonymous wrote:

I have never had any credit. I have always had the philosophy that if I cannot afford it I should not buy it. Now, I am about to be 35 and my thinking has changed. I realized I need credit to purchase a home so I got an auto loan and put 10K down on a 20K vehicle and financed the rest. I have had it financed for the last 2.5 years. When I got the loan the car guy asked how long I had been in prison(true story) because I had nothing on my credit. My ficos are all in the 794 range. I decided to buid my credit profile furthur and get a secured credit card 1k. I had this for 1 yr and then decided to go for a real card. I just got 26K approval for chase sapphire preferred. This is great however I want the bonus on the reserve? Do you think I should try for another chase card after I just got approved for the preferred? Literally I got approved in the last week. Thank you in advance for your advice.

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I felt the same way when I got my first and largest CL (at the time)Read my post...."CHASE CLOSED ALL MY ACCOUNTS"