CSP chances of approval? Edit APPROVAL!

[Josh2942]

So I have a chase checking/savings, A chase lease that is two months old, a Freedom that was opened in March with a $500 limit, I also have a chase Hyatt Visa Sig with $5000 opened two weeks ago. I am really interested in the CSP because I would deffinetly transfer the 40k points to the Hyatt gold passport. Now I have about 21 INQs on EX but only have a utilizitaion of about 5% with more than $50k in credit avalable thanks to some GE and Capital One love. I could try to close my apple visa and transfer the $7,310 credit line to the Arrival WMC so that I have a high line for chase to feel that I can handle it with all those INQs. It would put my arrival card at $10,310. I would be able to meet all these spending requirements because in August Im about to drop $5k on tution alone. Since I have the cash I want to make use of the bonus because on average my spending for the month is barely a thousand. I have 22 TL's no baddies. 1 year 2 months of history AAoA .5 years. No balance over 15% per card and like I said 5% as a whole. My highest limit on a store card is $12,000 on a lowes card and $7,310 on my apple Visa for a regular card. I would wait till all my increases reported first but I would like to try.

[OHWWCB]

I can see no reason why you wouldn't get approved. Good luck!

[nachoslibres]

I would wait.  You just got a Freedom in March and a Hyatt 2 weeks ago - I see it being pretty hard for them to approve you another card so quickly (I'm not saying they won't - I just think your chances aren't great).  This along with so many inquiries is going to hurt your chances, garden for 6 months or so and let some of the inquiries fall off and then try to apply.

[OHWWCB]

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@nachoslibres wrote:

I would wait.  You just got a Freedom in March and a Hyatt 2 weeks ago - I see it being pretty hard for them to approve you another card so quickly (I'm not saying they won't - I just think your chances aren't great).  This along with so many inquiries is going to hurt your chances, garden for 6 months or so and let some of the inquiries fall off and then try to apply.

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I think the OP is okay. I got my Freedom and CSP on the same day and Chase told me to call back in 30 days for the 3rd card. So they WILL do two new cards in 30 days.

[Josh2942]

I deffintely will wait till those increases report. But I do have 20 cards reporting 0 and my lowes has 0% so i have a 2k balance that I pay 400 a month on and a 301 balance on my bestbuy card becuse I have two years to pay for it and im trying to build history with Citi

[B335is]

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@nachoslibres wrote:

I would wait.  You just got a Freedom in March and a Hyatt 2 weeks ago - I see it being pretty hard for them to approve you another card so quickly (I'm not saying they won't - I just think your chances aren't great).  This along with so many inquiries is going to hurt your chances, garden for 6 months or so and let some of the inquiries fall off and then try to apply.

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I agree.  The $5k Hyatt limit I believe is the lowest limit possible on that card and using that as an indicator I would build up some history on the 2 cards.  CSP isn't going anywhere and every once in awhile they bump up the sign up bonus too.

[-Cal-]

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@OHWWCB wrote:

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@nachoslibres wrote:

I would wait.  You just got a Freedom in March and a Hyatt 2 weeks ago - I see it being pretty hard for them to approve you another card so quickly (I'm not saying they won't - I just think your chances aren't great).  This along with so many inquiries is going to hurt your chances, garden for 6 months or so and let some of the inquiries fall off and then try to apply.

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I think the OP is okay. I got my Freedom and CSP on the same day and Chase told me to call back in 30 days for the 3rd card. So they WILL do two new cards in 30 days.

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From my experience and a conversation w/ 3 different reps, they will grant 2 cards on the same day within 30 days. However if you apply on separate days within 30 days, sometimes they will make you wait 30 days after the latest account was open.

[Kenny]

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@McMarshall wrote:

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@OHWWCB wrote:

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@nachoslibres wrote:

I would wait.  You just got a Freedom in March and a Hyatt 2 weeks ago - I see it being pretty hard for them to approve you another card so quickly (I'm not saying they won't - I just think your chances aren't great).  This along with so many inquiries is going to hurt your chances, garden for 6 months or so and let some of the inquiries fall off and then try to apply.

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I think the OP is okay. I got my Freedom and CSP on the same day and Chase told me to call back in 30 days for the 3rd card. So they WILL do two new cards in 30 days.

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From my experience and a conversation w/ 3 different reps, they will grant 2 cards on the same day within 30 days. However if you apply on separate days within 30 days, sometimes they will make you wait 30 days after the latest account was open.

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Agree with the wait completely. Good advice, to me...

[efranklin23]

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@Josh2942 wrote:

So I have a chase checking/savings, A chase lease that is two months old, a Freedom that was opened in March with a $500 limit, I also have a chase Hyatt Visa Sig with $5000 opened two weeks ago. I am really interested in the CSP because I would deffinetly transfer the 40k points to the Hyatt gold passport. Now I have about 21 INQs on EX but only have a utilizitaion of about 5% with more than $50k in credit avalable thanks to some GE and Capital One love. I could try to close my apple visa and transfer the $7,310 credit line to the Arrival WMC so that I have a high line for chase to feel that I can handle it with all those INQs. It would put my arrival card at $10,310. I would be able to meet all these spending requirements because in August Im about to drop $5k on tution alone. Since I have the cash I want to make use of the bonus because on average my spending for the month is barely a thousand. I have 22 TL's no baddies. 1 year 2 months of history AAoA .5 years. No balance over 15% per card and like I said 5% as a whole. My highest limit on a store card is $12,000 on a lowes card and $7,310 on my apple Visa for a regular card. I would wait till all my increases reported first but I would like to try.

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While you may be approved, I'll say your chances are pretty low at this point. I figured I'd highlight the reasons why.

The main thing that sticks out is the fact you have over 10 INQs within 2 years. Another thing is the fact you were just approved another Chase Premier Card just 2 weeks ago. Chase usually frowns at this and that can lead to an instant denial. I'd say wait about 6 months in between that. And for that Freedom, was that your inital approval limit or did you transfer limits to the Hyatt? All of these things make a big difference.

Another issue can also be your available credit. You have over 50k of credit but only using less than a thousand a month for Chase Cards. Chase also frowns on this as well. And the short AAoA has a minimal effect but can at times lean on your decision to getting a limit or scraping by on small CLs. Also, you have to keep in mind to get that card you need to be approved for 5000 on the site which may not be easy as you may have too much credit exposure with Chase. 

Hope this Helps!

Efrankl1

[Josh2942]

Got approved for another 5K!