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Question about meeting SUB spend requirements

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Regular Contributor

Re: Question about meeting SUB spend requirements


@MaizeandBlue wrote:

@felipestrong wrote:

Thanks everyone! I totally forgot that I plan on buying a new car in the next 45 days, and I plan on putting 30K down. I can just put some of it on the CSP and pay that off immediately with the cash.


That's awesome.  Put as large a deposit as possible on your CSP to get the UR points for the purchase in addition to meeting the SUB.  Just make sure you call Chase to get the purchase authorized before going to the dealer.  I met the SUB on my CSR by making a down payment on a new truck.


Thank you! Well now I'm thinking about spreading a bit of it around since I hope to also have a Delta Platinum Skymiles by that time too. On another note, I keep hearing about "green checkmark" offers on the Chase account website as being indicative of a good shot of approval for the CSP. Is that different than this "offer" I get when I login?

 

Screen Shot 2019-05-17 at 7.45.12 PM.png

Message 11 of 34
Valued Contributor

Re: Question about meeting SUB spend requirements


@felipestrong wrote:

@MaizeandBlue wrote:

@felipestrong wrote:

Thanks everyone! I totally forgot that I plan on buying a new car in the next 45 days, and I plan on putting 30K down. I can just put some of it on the CSP and pay that off immediately with the cash.


That's awesome.  Put as large a deposit as possible on your CSP to get the UR points for the purchase in addition to meeting the SUB.  Just make sure you call Chase to get the purchase authorized before going to the dealer.  I met the SUB on my CSR by making a down payment on a new truck.


Thank you! Well now I'm thinking about spreading a bit of it around since I hope to also have a Delta Platinum Skymiles by that time too. On another note, I keep hearing about "green checkmark" offers on the Chase account website as being indicative of a good shot of approval for the CSP. Is that different than this "offer" I get when I login?

 

Screen Shot 2019-05-17 at 7.45.12 PM.png


Spreading the deposit over two cards should be doable but I would urge caution about opening other cards with the CSP.  Chase is known to soft pull your credit reports and to close newly opened accounts if they suspect credit seeking behavior.

 

It looks like you have "Selected for you" offers which are the same as green checkmark offers.  I've never seen offers presented with approval odds before but it looks like you'r good to go.





Message 12 of 34
Frequent Contributor

Re: Question about meeting SUB spend requirements

I think most car dealers would be reluctant to let you put a $30k down payment on a credit card. 

Current Score: Mar 2019: EX FICO8 779, TU FICO8 800, EQ FICO 780, TU Vantage 773, EQ Vantage 786
AoOA: closed: 35 years, open: 24 years; AAoA: 11.8 years; Inquiries: 2019: 2, 2018: 3; No BK ever, 1 30 day late in 2013
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, Amex Hilton Surpass, BoA Platinum Plus, Chase Slate, Chase Amazon, Chase CSP, Sync Lowes, Sync JC Penney - total CL 129k
Loans: Prosper (20k/3yrs 7.14%), Lending Club (10k/3yrs 5.89%), Chase car loan (35k/6yrs 0.9%)
Message 13 of 34
Regular Contributor

Re: Question about meeting SUB spend requirements


@MaizeandBlue wrote:

 

Spreading the deposit over two cards should be doable but I would urge caution about opening other cards with the CSP.  Chase is known to soft pull your credit reports and to close newly opened accounts if they suspect credit seeking behavior.

So does this mean I can't apply for any other cards if/after I get the CSP?

Message 14 of 34
Regular Contributor

Re: Question about meeting SUB spend requirements

I would try and space opening cards out by a month. If you go back to back, its more likely. If you are a new AMEX customer, honestly, it took them almost 60 days to report my gold card, where as my Disco reported right after the first statement hit. And since AMEX seems to always hard pull EX and Chase tends to hard pull EQ, they might never see it for awhile.

 

But as always YMMV. And I'm sure someone will poke a hole in my scheme lol 

Message 15 of 34
Regular Contributor

Re: Question about meeting SUB spend requirements

Appreciate the insight. I got a Delta Gold Skymiles back in January. Was going to apply for the CSP, Delta Platinum Skymiles (that should be a SP, right?) and a DIscoverIT (I also have a pre-qual for that one too) at the same time after all my current cards have finished reporting by the 24th and I'm at AZE2 with <8.9% utilization on the Delta Gold and the NFCU Cash Rewards I have. Is that too ambitious?

Message 16 of 34
Regular Contributor

Re: Question about meeting SUB spend requirements

Whoa buddy! We have an app spree abrewing.

 

If you can hit the minimum spend if the car purchase, focus on the CSP and Delta Plat first. CSP first and foremost. The Disco will always be there for ya. They aren't gonna be very turned off by other cards opened at around the same time. 

Message 17 of 34
Regular Contributor

Re: Question about meeting SUB spend requirements

Thank you for the Sage advice (pun intended).
Message 18 of 34
Valued Contributor

Re: Question about meeting SUB spend requirements


@felipestrong wrote:

@MaizeandBlue wrote:

 

Spreading the deposit over two cards should be doable but I would urge caution about opening other cards with the CSP.  Chase is known to soft pull your credit reports and to close newly opened accounts if they suspect credit seeking behavior.

So does this mean I can't apply for any other cards if/after I get the CSP?


 

You might want to read some of these experiences.  Chase will not hesitate to shut down your new account if they suspect its part of an app spree:

 

Spree results : Chase closed one of my CC

Chase closed account

What the hell, Chase?

 

There are many more examples if you search these forums and Reddit.





Message 19 of 34
Regular Contributor

Re: Question about meeting SUB spend requirements

I just read through all three of those links you posted. You have no idea how helpful all of that was; I had no idea about the potential for the “Chase shutdown.” I sincerely appreciate it. This board is probably one of the best things that’s ever happened to me in terms of finally learning how to manage my finances and have a good credit profile. I’m gonna apply for the CSP later this month, wait and activate the card (if approved), and then go for the SP Delta Platinum Skymiles—and then garden for 6 months before applying for anything else. I’m learning this whole “it’s a marathon not a sprint” thing. Thank you to you and to everyone else on here that has helped me get out of the starting blocks.
Message 20 of 34
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