Approval Odds/Thoughts

[Anonymous]

Hi everyone,

Happy holidays! I'm planning to apply for the CSR and wanted to see what you thought about my odds and credit profile. I’m based in the SF Bay Area and I believe Chase pulls TU/EX here. I've been eyeing the CSR, as I plan to travel more in 2019.

DP's:

(6) Installment Loans:

Toyota Financial Services: $3506
Dept Of Ed/Navient: $5,493
Dept Of Ed/Navient: $5,485
Dept Of Ed/Navient: $2,105
Dept Of Ed/Navient: $986
Dept Of Ed/Navient: $986

(2) CC's - 3% Revolving Balance:
StateFarm Rewards Visa: $500 SL
Citi Costco Visa: $5,000 SL + ($2,500 CLI received mid-Dec*) = $7,500

Scores (12/5/2018):
myFico EQ8: 729
myFico EX8: 750
myFico TU8: 757
Chase Credit Journey: 763

Other DP's:
Age: 24
Rent: 0 - Live with Parents
Income: ($45/HR * 2,080HR) = $93,600/YR
AAoA: 3yr 2mo
AoOA: 5yr 1mo
0/24 - Age of Most Recently Opened Account: 2yr 3mo
(2) Inquires: (5/2018) + (7/2018) *Both for store payment plans*
(2) 30-day lates: (6/2014) + (12/2017)
Chase College Banking Opened in (7/2015)
CSP, CFU, CF showing fixed % APR pre-approvals on Chase site.

What do you think about my credit profile + approval odds for the CSR?

Thanks!

[Anonymous]

Looks good to me, if chase deny you, I would go for a CSP and pc next year (you lose a little sub this way).

[xaximus]

IMHO, I think the scores/AAoA/income is okay. The issue that I see is that you don't have any other major CC's besides 2. Personally, I think your profile is a bit thin and CSR usually requires a decently thick profile. Also, I think the minimum approval for the CSR is 10k and Chase does not like being your highest limit line. I would say you're better off applying for the CSP. You'll have a better chance of getting approved for it.

Also - the 2 lates you have - where/who are they from? Have you reached out to see if they can be removed? The one in 2014 shouldn't be impacting anymore but the 2017 one is. I would see what you can do about them.

[Anonymous]

Thanks for your input! I'm thinking this will be my backup plan if I apply for the CSR and recon is unsuccessful.

[Anonymous]

@xaximus

Thanks for your thoughts. I also agree, my credit card profile is a bit thin.. My biggest concerns is my 8k CL on (2) CC's and the 2 baddies. the 2014 30-day late payment was with Statefarm Bank, and the 2017 30-day late payment was with Toyota Financial Services. I've been trying to get it removed, but I have been hitting a wall. For more information, please visit my other thread here:

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Any-recent-GW-luck-with-Toyota-Financial-Ser...