Chase Sapphire Preferred and/or AMEX Platinum

[jgbishop]

I know this is a topic that has beaten the poverbial dead horse. I wanted to get some experiences applying for these two cards. I am considering both but don't know if my odds of getting approved for either are too good. Credit profile is as follows:

TU(myFICO): 718-758*

EQ(myFICO): 680-720*

EX(PlusScore): 706

*based on simulation. Currently available report does not reflect lower credit utilization from current billing cycle yet which is currently 7%. I'll refresh Thursday when the new reports are available

6 student loans carrying balances totaling less than 10K

1 revolving credit card from Capital One ($300 CL)

1 open credit on bank account (OD protection: $500 limit)

One deliquency 2 years ago (30 days) reflected in TU and EQ but not EX.

My income is over 97,000 per year but I have a short history (Total of 4 years but AAoC is 2 years)

Do I have a chance on getting approval for either one of these cards?

[09Lexie]

Welcome to the forum. CSP usually requires some cc history with a CL close to $5k. Stranger approvals have happened but the likelihood is not in your favor. Basically, your cr shows 1Cap 1 with a $300 CL- Chase will not look at SL or the bank account. Do you have a banking relationship with Chase?

Amex Plat is also iffy. Even though the UW req are the same for all charge cards - the $300 CL is still your only rev cc.

May I ask, why these 2 cc's? Travel, dining?

[jgbishop]

Travel rewards for sure. I work in the oil industry and I tend to travel for two weeks a month. I'd like start getting some of the rewards from it. To give a little more description: September of last year I didn't even have enough credit history to generate an actual score. I had applied for an AMEX Green and got denied. I chose to go for a "bad credit" type credit card so that I could get a score with hopes of applying for a beneficial card about this time. That is why my limit is so low on the Capital One. I don't have a relationship with Chase though.

[emptypockets]

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@jgbishop wrote:

I know this is a topic that has beaten the poverbial dead horse. I wanted to get some experiences applying for these two cards. I am considering both but don't know if my odds of getting approved for either are too good. Credit profile is as follows:

TU(myFICO): 718-758*

EQ(myFICO): 680-720*

EX(PlusScore): 706

*based on simulation. Currently available report does not reflect lower credit utilization from current billing cycle yet which is currently 7%. I'll refresh Thursday when the new reports are available

6 student loans carrying balances totaling less than 10K

1 revolving credit card from Capital One ($300 CL)

1 open credit on bank account (OD protection: $500 limit)

One deliquency 2 years ago (30 days) reflected in TU and EQ but not EX.

My income is over 97,000 per year but I have a short history (Total of 4 years but AAoC is 2 years)

Do I have a chance on getting approval for either one of these cards?

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I would think you would more likely be approved for AMEX Plat than CSP. AMEX charge cards seem to be approved at lower (680-700) scores. The CSP is probably a no go, due to the fairly recent (2 yrs ago)  30 day lates, your short history, and your limited credit history (only 1 CC open). Chas also has been doing alot of double pulls (EX/TU) lately, so the fact that something appears on one bureau and not another may not help alot in this case.

I will also say that depending on FAKO scores is probably not the best thing to do when trying to decide where to apply. It is always better to have a real FICO in hand before making a decision.

[09Lexie]

Then I would start with the PRG, lower AF. Get your foot in the door with Chase with their Freedom. After 6 mos and you think you need the CSP- then go for it.

[jgbishop]

Would the fact I currently carry a corporate AMEX help me out at all? Also, would applying in person be of any benefit?

[mcf]

Is this a case where you may have to get a say GE backed card maybe a walmart or a sams club hope they give you a decent CL then wait after 4th statement cuts request increase, get one close to 4k-5k then in a year apply for a CSP? Does your job have a credit union? maybe they can be a lot more generous and give you a good credit limit to begin with?

[drcc2013]

Try capital one secure rewards card .If you can put $3k down which is the Max that would show you can handle a higher limit card than in 6 month try for one of those cards you prefer ....Just my opinion 

[mcf]

it should help with maybe backdating when your approved for your own.. not sure if that works but i think ive read it does in some threads..

[emptypockets]

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@jgbishop wrote:

Would the fact I currently carry a corporate AMEX help me out at all? Also, would applying in person be of any benefit?

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I doubt it. If it is not in your name, it has no bearing on you being approved.