CSP application chances?

[luis999]

Hi all,

I moved to the US about a year ago, and have been slowly building credit.  I did an Amex Global Transfer to get the SPG card (originally $7k limit but Amex pro-actively upped that to $14k), and have since applied for the platinum card.  Also am on AU on another Amex.  Paid each in full every month and utilization is about 10%.

Through the Amex portal, my FICO currently sits at 736.  I checked the cardmatch tool and saw that I was matched to the Chase Sapphire Preferred card, though when checking on the chase site for pre-approvals, it does not appear.

My question - what are my chances to get approved for this card?  Salary $105k, average age 7 months.  If not good - what would be the best thing to do to improve my chances?  Ultimately want the CSR, but haven read it can be easier to get the CSP and upgrade...

Thanks!

[Anonymous]

I would say not great odds - based on AAOA but what do I know! LOL 

[luis999]

That's what I figured - but then saw it in the cardmatch tool and that got me wondering...

[Anonymous]

Don't put any stock into that trash! Go to Chase prequal site and give it a try. For the record I hope you get it!!! Best wishes! 

https://www.chase.com/prequalified

[simplynoir]

OP already mentioned not being able to get the CSP to pop up with the Chase preapproval site. OP, if you can be patient and wait til your AAoA is at 12 months like @Anonymous pointed out you have good odds of getting the CSR if you want. You've shown you have experience with a large limit with your SPG card so your AAoA is really the only thing I see being the barrier. Because of their 5/24 rule if you really want the card I would wait til then.

[HeavenOhio]

Welcome, @luis999.

Chase values AoOA (age of oldest account), and they're sensitive about recently acquired accounts. When did you add each of your cards, including the AU?

[jdbkiang]

Do you have any cards over a year old? That will substantially up your chances.

[luis999]

Thanks for the replies
My Spg card will be a year old in Feb. Au was added around April and platinum around Oct.
Will wait a few months longer then try the match too again and see if it changes.

[bondsandloan]

I think in Feb your profile will be borderline hit or miss to get the CSP.

It was great you were able to get an Amex so early on. The best thing to build credit is to get another secured card & an installment loan at the time you get your first trade line.

In your circumstance, I would suggest waiting a few more months before hitting the trigger.

BTW AU account doesn't count towards your individual util & AAoA. Atleast mine don't.

[HeavenOhio]

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@luis999 wrote:
Thanks for the replies
My Spg card will be a year old in Feb. Au was added around April and platinum around Oct.
Will wait a few months longer then try the match too again and see if it changes.

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I'd let the Platinum age to six months old, i.e. early April. That should put both your AoOA (age of oldest account) and AoYA (age of youngest account) in great shape.

Have you ever asked for a CLI (credit limit increase) on your AMEX revolver? If you've never done it, consider requesting an increase to 30k.

For the record, sometimes AUs count toward your score and sometimes they don't. And lenders can do what they want with them despite what FICO might say. AUs won't help with Chase approvals. As far as file thickness, they're totally ignored.

However, AUs will count toward Chase's infamous 5/24 rule. Chase will deny if one has opened five or more accounts in the past 24 months. You're at 4/24 right now. This will be your window of opportunity for Chase.