CSP Chances?

[jamesdwi]

I would wait til your chase card is 6 months old, request a CLI, ask for $5000 because you have to pay the card weekly with its current limit and you would like to use the card more but its limit just too small, if they won't approve it you had no chance at a CSP card, minimum credit limit is $5k. If you have to recon the CLI, ask about your chances for a CSP in the future. Once you have a card with a 5k CL, then apply for the CSP.

[boomhower]

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@myjourney wrote:

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@09Lexie wrote:
Welcome to the forum!

If you are able to get a CLI on BoA IMO that would be best. It has been said that Chase does not look at AU's on credit apps. Also based on the toy CL I would be surprised if they give you a $5k CL without at least showing some kind of CLI on your Freedom.

Im not sure if the Chase Ink may help.

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+1 welcome to the forum

Chase like to see other cards with a 5k limit so take that into consideration

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This.  You'll get denied for not having enough experience at the needed credit line.  Chase doesn't like to be the first to give you a large credit line.  Try for a CLI on the Freedom of BOA.  Or get in with a credit union for the best chances of a larger CL.  I'm a fan of DCU unless you are eligible for NFCU.

[JustJen]

I don't buy the Chase likes to see experience at 5k limit as I was granted a Chase United Visa Signature for 10k when at the time my highest CL was maybe 2k, definitely 1.2k; and I'll add my credit score wasn't even in the 700s at the time, I think it was around 660-675. I'll also add that my income is over six figures so maybe that's the difference, I don't know.

They pulled experian and I think my most recent inquiry was 6-12 months old. So with that being said I'd be more concerned about the age of your inquiries and the length of your credit history as others have recommended, and not the fact that you don't have a card over 5k.

Just my opinion.....GL in whatever you decide!

[jaraico]

inquiries is the easiest thing to recon. just play dumb lol i had 22 inquiries when i got chase southwest amd 13 when i got csp. and most of my histpry was an authorized uset but i do believe every profile is diffetent. but waiting is so overrated. 

[enharu]

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@jaraico wrote:

inquiries is the easiest thing to recon. just play dumb lol i had 22 inquiries when i got chase southwest amd 13 when i got csp. and most of my histpry was an authorized uset but i do believe every profile is diffetent. but waiting is so overrated. 

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inquiries is definitely easier to recon as compared to bankruptcy or a charge off. but at the same time it's hard to convince a lender that you're not desperate for credit if you had stacked up a ton of inquiries that's due to credit apps only. if your inquiries are mostly due to mortage / auto loan, it's the easiest thing to explain to recon, provided there's even a need in the first place.

Also, every profile is different like you said. A very thick file with a number of inquiries isn't as bad. A thin file with lots of inquiries on the other hand, might make certain lenders nervous. 

As for OP: Like others said, try to get a CLI on your BofA. Chase usually wants you to have another 5K CL card, but that's not a must. Try to make your freedom your primary usage card and you can try applying for it at the 1 year mark of your Freedom. Chase also likes to see usage.

[FinStar]

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@jaraico wrote:

inquiries is the easiest thing to recon. just play dumb lol i had 22 inquiries when i got chase southwest amd 13 when i got csp. and most of my histpry was an authorized uset but i do believe every profile is diffetent. but waiting is so overrated. 

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Not necessarily - it varies by lender.  As you pointed out, everyone's credit experience and results will vary.  Just because you decided to "play dumb" does not necessarily translate into other individuals embarking on 22+ inquiries to increase their chance for approval - for any product.

While annecdotally some have achieved success with your stated scenario (albeit using the reconsideration channel vs. qualifying for automatic approval) or not having a good handle on basic credit habits to achieve said goals (e.g. excessive inquiries, etc.); others prefer the opportunity to learn the best approach and position themselves for approval while minimizing any collateral damage to their credit files.

[enharu]

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@FinStar wrote:

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@jaraico wrote:

inquiries is the easiest thing to recon. just play dumb lol i had 22 inquiries when i got chase southwest amd 13 when i got csp. and most of my histpry was an authorized uset but i do believe every profile is diffetent. but waiting is so overrated. 

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Not necessarily - it varies by lender.  As you pointed out, everyone's credit experience and results will vary.  Just because you decided to "play dumb" does not necessarily translate into other individuals embarking on 22+ inquiries to increase their chance for approval - for any product.

While annecdotally some have achieved success with your stated scenario (albeit using the reconsideration channel vs. qualifying for automatic approval) or not having a good handle on basic credit habits to achieve said goals (e.g. excessive inquiries, etc.); others prefer the opportunity to learn the best approach and position themselves for approval while minimizing any collateral damage to their credit files.

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+1

also to add.........getting approved is one thing.

but getting approved for the lowest APR rates is another. Usually borderline approvals land you up with the highest and most ridiculous APR rates, so it's essentially forcing you to not leave a balance. Kinda defeats the purpose of having a credit card somewhat.

[improvingmycredit]

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@JustJen wrote:
I don't buy the Chase likes to see experience at 5k limit as I was granted a Chase United Visa Signature for 10k when at the time my highest CL was maybe 2k, definitely 1.2k; and I'll add my credit score wasn't even in the 700s at the time, I think it was around 660-675. I'll also add that my income is over six figures so maybe that's the difference, I don't know.

They pulled experian and I think my most recent inquiry was 6-12 months old. So with that being said I'd be more concerned about the age of your inquiries and the length of your credit history as others have recommended, and not the fact that you don't have a card over 5k.

Just my opinion.....GL in whatever you decide!

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+1

I agree.  ~btw...it was the 6 figure income ~   I do not think that OPs not having a 5K limit is a deal breaker at all.  There's too many approvals for this card without the 5K threshold requirement.  I just think having it (5K) better improves chances of approval as there are more denials then approvals with this reason.  As a matter of fact, I think that the 15K AU limit will more than suffice to get the CSP.  I'm more concerned about the rest of the file being so thin.  It's the only CC with any real length of history.

OP... what is your AAoA and your real FICO?

[Anonymous]

Thanks for the replies all, much appreciated. 

I'll try and increase one or both of the current cards and go from there. 

[improvingmycredit]

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@jaraico wrote:

inquiries is the easiest thing to recon. just play dumb lol i had 22 inquiries when i got chase southwest amd 13 when i got csp. and most of my history was an authorized uset but i do believe every profile is different. but waiting is so overrated. 

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Hey jaraico,

Your statement regarding every profile being different it true and not to be argumentative, but really, this is not good advice... go for the card with the hope of recon if denied.  Just because you have a profile that warranted an approval for this card, doesn't mean that wanton apping is a good plan.    I agree with you regarding the usefulness of having AU history to get you in the door with many companies and I highly recommend it.  Even though many dispute the validity of this, I have personal experience with adding a family member as a AU to get them the limits they now have and one is with Chase.

With all this said, one inq isn't going to hurt too much if there are no big purchases in the near future and this doesn't turn into an app spree.    I give the OP 50/50% because of the thin file even with the AU account and no other cards near this minimum 5K limit.  To better the chances, I think another 5K plus card is in order.