I have both BCP and CSP and each is wonderful in its own way. I'm not entirely sure you could get approved for either one with the numbers you reported. But you could probably take a shot at the BCP with a SP. The question you have to ask about CSP is can you spend $4,000 in the first 3 months in order to get 50,000 points? About BCP, you have to ask yourself if you can spend enough annually to cover the $95 AF, which, unlike the CSP, is charged the first year. If you are able to spend $1,000 in the first three months with the BCP, your AF for the first two years is covered with your $200 bonus.
I have another suggestion, Discover IT. You could probably get it right now and get a decent SL, with no AF. After 4 months and using Discover's double dip, I got my SL raised almost 250%. During your first year, the 5% categories are doubled, as is the regular reward of 1% on other purchases. By purchasing gift cards along with your regular purchases during each quarter, you can really benefit during the first year. I find that I'm using it as my EDC card for those reasons. You wouldn't want to try to be maximizing your first year benefits with Discover while, at the same time you're trying to earn the rewards of CSP and BCP. I would go with Discover for a year and improve your scores and derogs during that time. Then, go for the higher-end cards and their rewards.
