Surprising CSR approval!

[Anonymous]

Though I was eyeing CSR since its release, I didn't apply because my credit score dropped around 645 in last 3 months due to 0% balance transfer debts and also I started my credit journey only in Jan 2016.

Was initially in doubts that I will not get the CSR for sure but thought of taking the risk and walked into the Chase branch yesterday.

Asked if I had any pre-approval and was told none came up. I just asked the banker to apply for it and see where it goes.

She called customer service and the customer service rep informed me that my chase account and the CSP which I received 6 months back(Took the same risk for CSP with just 8-month history ) is in good standing and I'm approved for 10k credit limit.

That was really a pleasant surprise to me! 

[Aduke1122]

Wow Congrats OP that's amazing !

[Anonymous]

That's fantastic! and what an awesome SL! Congrats!

[kidink1911]

Congratulations on your CSR approval!!

[Anonymous]

Glad you were approved.  Sounds like you are excited about it.  I cannot, however, for the life of me understand why someone wants a $450 annual fee card.  Join NFCU and get double that SL with a no annual fee card.  Chase knew they'd make alot of money on people with this card.

[Anonymous]

---

@Anonymous wrote:

Glad you were approved.  Sounds like you are excited about it.  I cannot, however, for the life of me understand why someone wants a $450 annual fee card.  Join NFCU and get double that SL with a no annual fee card.  Chase knew they'd make alot of money on people with this card.

---

This means you don't understand the value of perks and point transfers. 

If you never fly anywhere or stay in hotels, it will remain difficult for you to understand as all premium cards are aimed at people who will use them in conjunction with travel. 

In fact, chase has lost millions of dollars with the Sapphire Reserve due to giving people a sign-up bonus that ends up being worth roughly $1,500 (not to mention the value of the included card membership perks like Priority Pass lounge membership, $300 travel credit that applies to pretty much every travel-related purchase) while only charging a $450 annual fee.

In reality, if you do any traveling whatsoever the 'fee' is really $150, which again if you travel ever is easily more than made up for by the other perks. 

Chase is the one who is losing money with this card, not the smart consumer.

[Anonymous]

It is not the credit limit I'm excited about. It is the perks you get with this card which outweigh the annual fee.

As @wanderingbuilder mentioned in previous post, this is a $150 AF card after travel credits(Chase has a huge category list for the travel credits).

The priority pass select membership and other card benefits is worth more than $150 for me since I travel a lot and the 100K signup bonus is humongous.

[Anonymous]

I just saw where the Chase Ritz-Carlton is another $450 annual fee card.  I can't imagine a board room meeting at Chase where they say "let's come out with a new credit card where we lose alot more money".

I'm thinking they sucker customers in who are looking to stay at the hotel on vacation soon and then choose somewhere else next vacation.

Banks do not operate with the intention of losing money.

Again, the only thing that matters is if you get what you want.

Every retail store that hits me up with "would you like to buy an extended service warranty" on an item gets my response that says "you shouldn't sell the product if it's not any good".

____________

On the other hand, the only time I use my Blispay card is when I buy something that costs more than $200.

[Anonymous]

---

@Anonymous wrote:

I just saw where the Chase Ritz-Carlton is another $450 annual fee card.  I can't imagine a board room meeting at Chase where they say "let's come out with a new credit card where we lose alot more money".

I'm thinking they sucker customers in who are looking to stay at the hotel on vacation soon and then choose somewhere else next vacation.

Banks do not operate with the intention of losing money.

Again, the only thing that matters is if you get what you want.

Every retail store that hits me up with "would you like to buy an extended service warranty" on an item gets my response that says "you shouldn't sell the product if it's not any good".

____________

On the other hand, the only time I use my Blispay card is when I buy something that costs more than $200.

---

You are right that banks are out to make money - and by and large most consumers are not as credit savvy as your average credit enthusiast so they will not be maximizing the potential rewards from perks cards in general.

Those of us who do are very much in the minority, but it doesn' t make the value any less true. 

Again, if you are not someone who travels really ever, I don't know off the top of my head any cards with annual fees that would be of benefit. Also, even if you travel somewhat regularly but opt for standby and ultra discount economy they probably still won't benefit you.

At my point in life I don't want to do that anymore though. I'm too tall to fit comfortably in any Economy class seat, and after experiencing even just a low-ranking airport lounge rather than sitting in the terminal waiting for a flight, the experience was so much nicer that I would have paid outrightly for it.

[UncleB]

This is an approvals thread and is for telling others about an approval and for the OP to provide data points... let's try to keep the thread on-topic.

--UB