CHASE...APP OR INCREASE?

[Anonymous]

I was just 100% getting ready to app a few mins ago for Chase Sapphire Preferred and then a thought crossed my mind. I'm now indecisive about applying for the CSP or asking for a credit increase on my Unlimited. Its at $1500 and maybe it should be higher first before I app for the CSP. It really is a bummer that Chase increases are hard pulls with no guarantee. Any thoughts, opinions, or advice? My data is as follows:

EQ 725
EX 660
TU 661
100% Payments

Cap 1 Q1 @ $400 1% utilization- will be 6 months old June 16
Chase FU @ $1500 0% utilization - will be 1 year old June 1st
3 inquiries in last 2 years on all 3 CBs
Income @ 94k

[Anonymous]

Depending on what bureau Chase pulled for your FU, Id just go for the csp. It's possible that if you app for it after you ask for/get the cli on the United card that they'll see it all as "credit seeking behavior" and your chances of approval may actually go down. What bureau did chase pull for for FU? Your Equifax score is solid but if they pull the other two then it's probably better to just go for the United CLI and wait for your accounts to mature and your Experian score to go up before apping for the CSP.

[fltireguy]

Go for the CSP first. See what kind of SL you get. If it's high enough, you can always reallocate part of it to the FU. Either way you are going to end up with a HP

[FinStar]

OP, are those the only 2 CCs that you have? Do you have any other tradelines?

Typically, if the profile supports it (DTI, overall history, etc.), then it's usually recommended to apply for a separate Chase product (provided no 5/24 restriction applies for certain CCs) and see what that yields. If the SL is decent enough, some of that can be reallocated to another Chase CC.

[Anonymous]

Chase actually pulled all 3 the first time i believe. Same for my Cap 1..All 3!

And yes those are my only 2 cards. I want to grab 1 or 2 more. A travel and a cash rewards card would be ideal.

I had a car loan back 2 and a half years ago...i wound up paying it off early. ( Although frowned upon...it was a Must bc of the situation i was in at that time) No late payments on that account either...that makes my oldest account 2.5 years old and it shows my average at 1 year and 4 months old (not sure if thats exact..maybe a month off more or less)

[FinStar]

Considering that the SL for CSP is $5K, this is one of those situations that might go 50/50.

Now, it's possible that your existing Chase relationship might provide a boost since an internal score already exists, but on the other hand there's no history of previous experience handling such capacity on a revolving level. So, it's totally up to you whether you want to roll the dice and see what happens.

[NRB525]

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@Anonymous wrote:
I was just 100% getting ready to app a few mins ago for Chase Sapphire Preferred and then a thought crossed my mind. I'm now indecisive about applying for the CSP or asking for a credit increase on my Unlimited. Its at $1500 and maybe it should be higher first before I app for the CSP. It really is a bummer that Chase increases are hard pulls with no guarantee. Any thoughts, opinions, or advice? My data is as follows:

EQ 725
EX 660
TU 661
100% Payments

@Anonymous 1 Q1 @ $400 1% utilization- will be 6 months old June 16
@Anonymous FU @ $1500 0% utilization - will be 1 year old June 1st
3 inquiries in last 2 years on all 3 CBs
@Income @ 94k

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With 1% utilization, limited inquiries (the inquiries have aged enough by now they are not affecting score) and two bureaus at 660 and 661, what other factors in your file are keeping your scores down? With your profile it should be 700+ on all three.

[Anonymous]

I have one medical collection for 711 dollars that is 6 years and 1/2 yrs old...falls off in Jan 2019. Also with that, i was always paying both cards to completes Zeros. . . I just started showing card at 1 percent a couple weeks ago and that gave me a decent boost. Also, i figured its bc my credit is still so new. All the red negatives show bc my account is not aged enough.

[FinStar]

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@Anonymous wrote:
I have one medical collection for 711 dollars that is 6 years and 1/2 yrs old...falls off in Jan 2019. Also with that, i was always paying both cards to completes Zeros. . . I just started showing card at 1 percent a couple weeks ago and that gave me a decent boost. Also, i figured its bc my credit is still so new. All the red negatives show bc my account is not aged enough.

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Given the extra information you've shared, which was not in your original post, I would hold off until that medical collection is removed from your CRs.

[Anonymous]

So do you suggest not applying for anything until the medical collection falls off?