CSP vs. CSR Starting Credit Limits

[Tacoloco]

Was thinking about opening up one or the other. I really dont have much use for the card other than the sub. 

My question is this. I know the minimum CL on the CSP is 5k and the min on the CSR is 10k. 

I dont want a card with any limit below 10k. What are the typical starting lines on these cards?

And for variables: Current Ficos are all around 830. Income around 180k. Under 1% total utilization. Currently have all the Ink cards with total credit limit of 60k. 3/24. AAoA 5-17 years depending bureau. I have no other Chase products nor do I want any including checking/saving/loans, etc. 

[CreditCuriosity]

Max exposure with Chase is "typically" 40-50% of your income so you have some room.  I would suspect regardless of either card your  SL would likely be in the 10-20k range although just a guess.  I would personally just go for the CSP as better value imho and sign-up believe is higher than CSR as well currently and way cheaper AF and still get primary rental car insurance, etc.

Hinestly with your profile being scores and income i wouldn't be worried about getting less than 10k SL.  Either card can through a high SL at you.  You aren't going to get a higher one just cause the AF and the 10k min on the CSR they will  and do approve CSP in the 20-30k range

[Tacoloco]

Thank you. This was helpful.

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@CreditCuriosity wrote:

Max exposure with Chase is "typically" 40-50% of your income so you have some room.  I would suspect regardless of either card your  SL would likely be in the 10-20k range although just a guess.  I would personally just go for the CSP as better value imho and sign-up believe is higher than CSR as well currently and way cheaper AF and still get primary rental car insurance, etc.

Hinestly with your profile being scores and income i wouldn't be worried about getting less than 10k SL.  Either card can through a high SL at you.  You aren't going to get a higher one just cause the AF and the 10k min on the CSR they will  and do approve CSP in the 20-30k range

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[wasCB14]

So Chase counts Ink sole proprietor limits as "credit already extended" for the 50% of income threshold?

[Aim_High]

While I generally agree with @CreditCuriosity, I'd like to clarify a couple of factors based on having numerous open and/or closed Chase cards for over 20 years. 

I've often heard that 40% to 50% of income as a guideline, but it can vary widely.  It appears to me that those higher ratios are at lower to middle income brackets and tend to become less significant as income rises unless spend is also very significant.   After recent pay raises, Chase approved my last card and reallocated limits saying I had maximum credit with them, even though my TCL/income ratio is down to about 30%. 

From my experience with Chase and other major lenders, there appear to be general approval "ranges" for each type of card.  Better profile normally just nets you the upper end of that range.  And the highest SLs are normally in the highest AF cards.  The next bracket at the mid-AF cards.  Then cash back and/or general purpose or low rate cards.  On five Chase approvals in 2018 - 2019, my highest approval was on Sapphire Reserve ($35K) followed by Marriott Bonvoy Boundless ($33K) and World of Hyatt ($30K).  I also had a Chase Freedom (original) approval for only $21.7K if I'm not mistaken and it was not my last application.  

Bottom line:  the higher approval for the identical profile would likely be the CSR followed by the CSP.  But you should qualify for at least $10K on either, so if high limit is not a factor, either one will do.  I would guess the CSR starting limits range from the $10K minimum to around $35K (I had 0/24 inquiries and new accounts, 800+ FICO, high income and got the $35K).  CSP would be $5K minimum Visa Signature to probably about $25K.  I don't believe I've seen a lot of CSP approvals over $25K.

And I agree that after the realignment of the Sapphire and Freedom cards a couple of years ago, the Preferred is a stronger card in many ways than the Reserve, unless you appreciate the Visa Infinite travel protections and insurance, VI perks and discounts, and Priority Pass Lounge access.  (Or ... if  you would like the option to redeem points in-portal with Chase for additional 25% value-added.)

And yes, the Preferred SUB is a better bargain at the moment - 80K versus 60K. 

[Aim_High]

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@wasCB14 wrote:

So Chase counts Ink sole proprietor limits as "credit already extended" for the 50% of income threshold?

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Yes, I believe they factor in INK sole proprietor limits as part of the consideration.  As I just posted, I was in the 40% - 50% range including INK limits but my credit relative to income has slowly fallen to around 30% as income has risen.  (My usage of available credit has not been heavy.)

[Tacoloco]

My Ink cards are under my LLC with EIN. Not sole proprietor. Same with Amex. I can wait for the sub on either card. I plan on picking up a second set of Ink cards for another company I have with its seperate EIN. Figure I'll just collect all the elevated subs as they appear. 

[CreditCuriosity]

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@wasCB14 wrote:

So Chase counts Ink sole proprietor limits as "credit already extended" for the 50% of income threshold?

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yes

[CreditCuriosity]

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@Tacoloco wrote:

My Ink cards are under my LLC with EIN. Not sole proprietor. Same with Amex. I can wait for the sub on either card. I plan on picking up a second set of Ink cards for another company I have with its seperate EIN. Figure I'll just collect all the elevated subs as they appear. 

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Just keep in mind counts yo your total exposure with chase.  If the sub is good on the Ink now you might just want to get the Ink first prior to CSP if just going for sub as won't count against 5/24, but will count against total exposure with chase.  depending if you did that and Ink approval amount you might need to reduce limit on 1 or 2 chase cards to comfortable get the CSP/CSR respectively with ay your 10k limit threshhold.  Just food for thought.

[CreditCuriosity]

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@Aim_High wrote:

While I generally agree with @CreditCuriosity, I'd like to clarify a couple of factors based on having numerous open and/or closed Chase cards for over 20 years. 

I've often heard that 40% to 50% of income as a guideline, but it can vary widely.  It appears to me that those higher ratios are at lower to middle income brackets and tend to become less significant as income rises unless spend is also very significant.   After recent pay raises, Chase approved my last card and reallocated limits saying I had maximum credit with them, even though my TCL/income ratio is down to about 30%. 

From my experience with Chase and other major lenders, there appear to be general approval "ranges" for each type of card.  Better profile normally just nets you the upper end of that range.  And the highest SLs are normally in the highest AF cards.  The next bracket at the mid-AF cards.  Then cash back and/or general purpose or low rate cards.  On five Chase approvals in 2018 - 2019, my highest approval was on Sapphire Reserve ($35K) followed by Marriott Bonvoy Boundless ($33K) and World of Hyatt ($30K).  I also had a Chase Freedom (original) approval for only $21.7K if I'm not mistaken and it was not my last application.  

Bottom line:  the higher approval for the identical profile would likely be the CSR followed by the CSP.  But you should qualify for at least $10K on either, so if high limit is not a factor, either one will do.  I would guess the CSR starting limits range from the $10K minimum to around $35K (I had 0/24 inquiries and new accounts, 800+ FICO, high income and got the $35K).  CSP would be $5K minimum Visa Signature to probably about $25K.  I don't believe I've seen a lot of CSP approvals over $25K.

And I agree that after the realignment of the Sapphire and Freedom cards a couple of years ago, the Preferred is a stronger card in many ways than the Reserve, unless you appreciate the Visa Infinite travel protections and insurance, VI perks and discounts, and Priority Pass Lounge access.  (Or ... if  you would like the option to redeem points in-portal with Chase for additional 25% value-added.)

And yes, the Preferred SUB is a better bargain at the moment - 80K versus 60K. 

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Ya I am not sure what Chases limit is with you honestly and why they did do a reallocation?  How long ago was this when they performed this?  I would be curious also do you put decent spin on your Chase cards you already have?  I would be curious since CLI's are soft pulls now if you could ask for one on each card and get it up closer the the 40-50% threshold.  Might be good science.