Recon: Chase SP

[sean23]

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@Anonymous wrote:

The reason I shrink from other cards is because the CSP is currently one of the best general-purpose cards out there. Yes, it's got a great signup bonus I will likely not be able to take advantage of, and will likely cost me an AF that will be a pain to pay for at some point - but I'd imagine that by then, my income would be larger, too. I'm trying hard not to open multiple accounts in vain: I don't want to pick up the Freedom if I'm trying to go for the CSP, because I'd have to either combine or cancel the Freedom at once I am approved for CSP. That'll be a hit to my credit score. 

With CSP and AMEX, I should be okay as far as spending power goes. 1.5k initial limit with AMEX as a first card was more than I expected, and more than usual. With a 3x credit increase, I would be at 4.5k, which is pretty close to the CSP's 5k minimum limit. 

I know that thin file (or no file altogether, as AMEX isn't reporting yet) is also a factor, but how do recon agents overturn decisions? Is it subjective? Do they have to justify their decisions? 

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They do not have to "justify" their decisions. They will tell you as a courtesy, issues that can be approved upon- but sometimes they will just say to look at the letter that comes in the mail. But it seems they already told you, that your income was too low. You are assuming you will get the 3X CLI before it occurs, and with your credit profile, there is a good chance you could be denied for that as well and might have to wait a little longer before they approve. The 3X CLI is not a guarantee. If you dont want to pick up another card with a lower limit, and are dead set on the prestige factor of the CSP- you should just wait it out. The more you apply and get denied for cards that you dont have the credit profile to meet, the more inquries you will generate which will in turn lower your score, and make it even harder to get accepted for the cards you are trying to get. 

[xerostatus]

I disagree on the notion that CSP is the "best general spend" card. I mean, it certainly can be, for some people with specific spending patterns. But honestly, a freedom is a much better card for someone starting out. Most people agree that the true "power" of the CSP comes from its combo with the Freedom (earn 5x on freedom, transfer to partners using CSP, etc)

But that is only part of the issue; $5000 min. credit line for thin file and low income? Very unlikely from Chase.

Also, I dont think it's been mentioned yet, but even IF you had higher income, and even IF you had a thicker file, a lot of times Chase likes to tell people they want to see their ability to handle $5000+ credit line responsibly for X amount of time before they approve you. That means, they prefer not to roll the dice on being your very first $5000+ credit line.

I'm not implying there are no exceptions, and everything i said above really just comes from anecdotal evidence, so take it with a grain o salt. But just understand you're fighting an uphill battle.

[Swapmeet]

You seem to be assuming that you cannot have two cards from chase, when they actually reward you for it. They aren't just going to give you their top-tier card. They want you to have established credit first (ie already have a 5k limit for some time to get the csp). As everyone is saying to you, the freedom would be your best bet, and I'm not sure where you got the idea that the CSP is  the best "general purpose" card out there, but that is false as well. You can, however, transfer points between the freedom and csp at will, hence it is optimum to have both cards. If you check my sig you will notice that there is even a visa siggy version of the freedom (for once you have established credit). This credit thing is a game, I've noticed, and once I learned the rules of the game it was a quick climb from 0 - where I am now. Please listen to the wisdom of the folks here.....it works--I am proof.

[Anonymous]

I'm not irrationally afraid of opening a Freedom account, for instance. The problem is I don't spend enough to warrant picking up the Freedom, only to get to my goal of the CSP. At least for now, I would really like to have both my AMEX and a CSP in my wallet - as some places I frequent don't accept AMEX due to high charges for businesses, moreso than Visa or Mastercard. 

CSP may not be the "universal" best general spending card, but it's good enough for me. I like the Blueprint features, and it's a card I won't outgrow anytime soon. I'll have a credit limit I can manage even at its minimum, and it'll give me good benefits when I fly out to research conferences (reimbursed, of course). 

I don't know how to angle the situation in order to have them approve me, even if it's for the CS.  

[Closingracer99]

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@Anonymous wrote:

I'm not irrationally afraid of opening a Freedom account, for instance. The problem is I don't spend enough to warrant picking up the Freedom, only to get to my goal of the CSP. At least for now, I would really like to have both my AMEX and a CSP in my wallet - as some places I frequent don't accept AMEX due to high charges for businesses, moreso than Visa or Mastercard. 

CSP may not be the "universal" best general spending card, but it's good enough for me. I like the Blueprint features, and it's a card I won't outgrow anytime soon. I'll have a credit limit I can manage even at its minimum, and it'll give me good benefits when I fly out to research conferences (reimbursed, of course). 

I don't know how to angle the situation in order to have them approve me, even if it's for the CS.  

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Err What? the CSP has a $95 AF which means you need to spend MORE the make it worthwhile and mostly in Dining and travel. The Freedom has no AF, makes 5% in different categories each quarter and a much easier card to get 

[Anonymous]

Like I said, I'm planning on doing some travel for work. The University reimburses me - and although the traveling won't happen this year (probably sometime in January), I would like to at the very least, start some sort of relationship with Chase, esp. considering I recently dropped meals at the Univ. and am planning on doing some dining. Obviously, the prestige of a CSP is a nice perk, too (not that this is a surprise to anyone). 

[navigatethis12]

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@Anonymous wrote:

Like I said, I'm planning on doing some travel for work. The University reimburses me - and although the traveling won't happen this year (probably sometime in January), I would like to at the very least, start some sort of relationship with Chase, esp. considering I recently dropped meals at the Univ. and am planning on doing some dining. Obviously, the prestige of a CSP is a nice perk, too (not that this is a surprise to anyone). 

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You will be building a relationship if you get the Freedom now. You say you don't spend enough to warrant the Freedom, but I don't see how it's any different then the Sapphire Preferred. If the American Express if your first card you've no score or report to be concerned about with new accounts and inquiries. You can try as much as you want but they will likely not approve you for the Sapphire Preferred. Would you lend 5000 to somene that made 16.7? If you don't have any history that will also definitely be a huge negative to them.

Instead, get the Freedom and a year from now your income could be 30,000 and they then have income and the history of the Freedom to be more likely to approve you. Once you get the Sapphire Preferred, you can just stop using the Freedom if you don't want to split charges between the two. The Sapphire is no different from the Sapphire Preferred in terms of approval requirements.

[xerostatus]

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@Anonymous wrote:

I'm not irrationally afraid of opening a Freedom account, for instance. The problem is I don't spend enough to warrant picking up the Freedom, only to get to my goal of the CSP. At least for now, I would really like to have both my AMEX and a CSP in my wallet - as some places I frequent don't accept AMEX due to high charges for businesses, moreso than Visa or Mastercard. 

CSP may not be the "universal" best general spending card, but it's good enough for me. I like the Blueprint features, and it's a card I won't outgrow anytime soon. I'll have a credit limit I can manage even at its minimum, and it'll give me good benefits when I fly out to research conferences (reimbursed, of course). 

I don't know how to angle the situation in order to have them approve me, even if it's for the CS.  

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Well, I think we're all seeing the elephant in the room, but I will just say good luck with recon. Probably won't happen, but maybe it will. 

If you really want to "establish" relationship with Chase early on, then again, imo Freedom is your best best. CSP is usually/normally not the best way "in" for Chase, but to each his own.

[sean23]

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@Anonymous wrote:

Like I said, I'm planning on doing some travel for work. The University reimburses me - and although the traveling won't happen this year (probably sometime in January), I would like to at the very least, start some sort of relationship with Chase, esp. considering I recently dropped meals at the Univ. and am planning on doing some dining. Obviously, the prestige of a CSP is a nice perk, too (not that this is a surprise to anyone). 

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Is your insistance on getting the CSP more about the prestige than anything else? Are you thinking about going out to eat with your friends, pulling out an Amex card and then if they say they dont accept it, pulling our your shiny metallic CSP, and having your friends question you about the type of card that is and what you had to do to get such a great card?

[Closingracer99]

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@Anonymous wrote:

Like I said, I'm planning on doing some travel for work. The University reimburses me - and although the traveling won't happen this year (probably sometime in January), I would like to at the very least, start some sort of relationship with Chase, esp. considering I recently dropped meals at the Univ. and am planning on doing some dining. Obviously, the prestige of a CSP is a nice perk, too (not that this is a surprise to anyone). 

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Err You want to build a relationship with Chase and you want to start with the CSP? that is totally the wrong way to put it ....

In order Freedom , Slate ----> CS/CSP as far as their own products goes. Chase also offers the Amazon visa and it might be even easier to get then the Freedom/Slate cards. You say you can't meet the "Spending" for the Freedom But you can with the CSP ? that makes no sense bcause there is no spending requirement on the Freedom because it has no AF. You only get out of it depends on how much you put in. The CSP requires a $95 AF which means you should be putting enough in to make at least $95 dollars worth of UR points to make up the AF.