Myths , tips and advice on getting a CSP

[SecretAzure]

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@Anonymous wrote:

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@chalupaman wrote:

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@Anonymous wrote:

It's just a credit card. If you can get a 5K TL from Chase, you will be approved. 

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THIS. I've had no issues getting CSP. I did not have to have a checking account with them or anything. Just previous history on other Chase cards and developing a good internal score really helped. 

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No issues here either, I also didn't have a checking account or any previous Chase cards. I guess I had a decent enough history to be pre-qualified for it, and since pre-qualified with Chase is pretty much approval, I went for it. 

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Yup, I had the pre-qual for it but don't want an AF right now so went with Freedom. It's still showing I am pre-qual for it and Slate, doesn't seem hard to get. 

P.S. My income is not high either.

[Anonymous]

AF is no big deal if you travel at least once a year

[Anonymous]

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@Anonymous wrote:
AF is no big deal if you travel at least once a year

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Agreed... Personally, some of the annual fee cards are worth it to me...

[Anonymous]

It's not particularly hard to get, mainly that Chase is strict about the $5k min, which can be a barrier for rebuilders or those new to credit, for a while.

But I think the issue here is that many  more people want it than can sensibly use it.   It's certainly worth getting for the bonus for the first year (if the minimum spend isn't an issue) but after that, I suspect that for many it's not worth the AF (you really have to transfer points to make it competitive)

[elim]

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@NRB525 wrote:

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@elim wrote:

ehhh,     i think some type of competitive credit bubble...     CSP's for everyone!

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You don't think maybe the AF has something to do with chances of getting a CC? Along with a not insubstantial APR if one does decide to carry a balance on this card? Seems like a personal choice if one wants to pay 16% on money, and not so much a credit bubble.

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   16% is definately not my choice.   I was talking about "ease of approval".

 

   As far as the AF goes... it will land this year, many months after i get back from Ireland on CSP's UR's.

[SecretAzure]

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@Anonymous wrote:
AF is no big deal if you travel at least once a year

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I don't, at least not on my own wallet.

[Anonymous]

I will admit that I was someone who really, really wanted the CSP and viewed it as unattainable given my less than stellar scores a year ago.  But I got it 3 weeks ago with $24K limit.  I scoured MyFico and other sites about what it would take to get it.  A few of the myths held true and some didn't.  Here's my experience:

1) Chase pre-qualifies are "golden"

2)  I have a pretty high income (+75K)

3) They do pull Experian, but also pulled TU

4) Experian score was above 720 (776 actually), but TU was only 687

5) Low util = 4%

6) CRs not spotless - have some old late pays still showing

7) No previous Chase relationship

8) No previous tradelines above $2K other than AU Amex

9) Did get Freedom first, then applied for CSP and got both cards with the one double pull

[Anonymous]

I just got approved for a CSP, not sure how they determine approvals. I do have 2 cards previously with Chase (Freedom for 5K and Amazon for 2.5K). Score is somewhere in the lower 700's I believe, 10 years open credit history.

[Imperfectfuture]

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@elim wrote:

ehhh,     i think some type of competitive credit bubble...     CSP's for everyone!

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Travel cards seem to be all the rage now. . 

Pick one one up for an easy 5 or 10k CL boost.

[Anonymous]

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@Anonymous wrote:

I will admit that I was someone who really, really wanted the CSP and viewed it as unattainable given my less than stellar scores a year ago.  But I got it 3 weeks ago with $24K limit.  I scoured MyFico and other sites about what it would take to get it.  A few of the myths held true and some didn't.  Here's my experience:

1) Chase pre-qualifies are "golden"

2)  I have a pretty high income (+75K)

3) They do pull Experian, but also pulled TU

4) Experian score was above 720 (776 actually), but TU was only 687

5) Low util = 4%

6) CRs not spotless - have some old late pays still showing

7) No previous Chase relationship

8) No previous tradelines above $2K other than AU Amex

9) Did get Freedom first, then applied for CSP and got both cards with the one double pull

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Nice! I'm almost identical to you as far as income, util, etc., but no late pays. Been waiting to app CSP until a few inqs drop off this summer, so I'm please to hear that they gave you such a fantastic limit.