The road to a CSP.

Anonymous · ‎02-16-2016

I was recently approved for a 2k limit Chase Freedom. I am a Chase banking, savings, and auto loan customer as well. I recieved a prequal for the Freedom and Slate but I only apped for the Freedom. My end-game card is the CSP. I understand Chase likes to see some other 5k limit cards but I only have one other card that meets that requirement, Wal-Mart. Should I increase my WM card usage to show some 5k limit experience? What would be the best strategy to go for the CSP? Chase pulled TU 685 and EX 630ish upon the Freedom app. Thanks inadvance for your help.

myjourney · ‎02-16-2016

With a 630 EX score I think you should just build history with Chase and then try later for CSP

I know this isn't what you want to hear but 630 is kind of low for their top tier card

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

Anonymous · ‎02-16-2016

I don't think it's necessary to show usage on your Walmart card. Having history with Chase will help you get the card, but I might wait till your Freedom ages a bit and see about getting your score into the mid 700s to maximize chance for an approval, plus you'd likely get a much better starting line.

Anonymous · ‎02-16-2016

@myjourney wrote:
With a 630 EX score I think you should just build history with Chase and then try later for CSP
I know this isn't what you want to hear but 630 is kind of low for their top tier card

Actually thats perfect. I should have my last set of student loans finishing rehab this month and that will clean off all baddies. I'm totally down with waiting. Thanks for the reply.

myjourney · ‎02-16-2016

@Anonymous wrote:
@myjourney wrote:
With a 630 EX score I think you should just build history with Chase and then try later for CSP
I know this isn't what you want to hear but 630 is kind of low for their top tier card
Actually thats perfect. I should have my last set of student loans finishing rehab this month and that will clean off all baddies. I'm totally down with waiting. Thanks for the reply.

Good decision and I really think this is the best move for your situation

Even using your Walmart card more defects the purpose

Fact is building history will do more to let them know you can maintain a line of credit and to extend you more

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

Ghoshida · ‎02-16-2016

@Anonymous wrote:
I was recently approved for a 2k limit Chase Freedom. I am a Chase banking, savings, and auto loan customer as well. I recieved a prequal for the Freedom and Slate but I only apped for the Freedom. My end-game card is the CSP. I understand Chase likes to see some other 5k limit cards but I only have one other card that meets that requirement, Wal-Mart. Should I increase my WM card usage to show some 5k limit experience? What would be the best strategy to go for the CSP? Chase pulled TU 685 and EX 630ish upon the Freedom app. Thanks inadvance for your help.

Congrats on your 2k Freedom.

For the CSP, you'll need higher EX score, preferably 700+. Keep checking the Chase Pre-approval Page for offers. Their offers are generally spot on unless you have frozen reports and stuff. (In my case.)

What is / are the reasons for your low score currently? Can you work on any negatives present in your current profile?

If your Walmart card is already 5k, no need to spend extra there. I'd rather spend more on the Freedom and pay in full, thus gaining Chase's confidence and getting some auto CLIs on the Freedom. You can expect some around the 6 month and the 1 year mark. Getting some auto CLI from Chase should be your sign for how Chase feels about you.

Anonymous · ‎02-16-2016

@Ghoshida wrote:
@Anonymous wrote:
I was recently approved for a 2k limit Chase Freedom. I am a Chase banking, savings, and auto loan customer as well. I recieved a prequal for the Freedom and Slate but I only apped for the Freedom. My end-game card is the CSP. I understand Chase likes to see some other 5k limit cards but I only have one other card that meets that requirement, Wal-Mart. Should I increase my WM card usage to show some 5k limit experience? What would be the best strategy to go for the CSP? Chase pulled TU 685 and EX 630ish upon the Freedom app. Thanks inadvance for your help.
Congrats on your 2k Freedom.

For the CSP, you'll need higher EX score, preferably 700+. Keep checking the Chase Pre-approval Page for offers. Their offers are generally spot on unless you have frozen reports and stuff. (In my case.)

What is / are the reasons for your low score currently? Can you work on any negatives present in your current profile?

If your Walmart card is already 5k, no need to spend extra there. I'd rather spend more on the Freedom and pay in full, thus gaining Chase's confidence and getting some auto CLIs on the Freedom. You can expect some around the 6 month and the 1 year mark. Getting some auto CLI from Chase should be your sign for how Chase feels about you.

My scores are low only due to one set of student loans that has not cleared rehab but I have made my nine required payments. However I literally never paid this set so its showing several years of non-payment. Lesson learned. I don't know if there is anyway to expedite that process so I don't think there is anything I can really do other than just wait. Which I'm cool with, of course. I'll just listen to you guys and use the Freedom as my main card for now, and pay it off each month. Thank you.

degs138 · ‎02-16-2016

Definitely wait for the rehab trade lines to report positive. I went from 670s to 720s when I finished. I got a csp one month later.

FICO TU 757 Eq 741 116,900 Total revolving Credit.
Favorite cards: AMEX BCP, US Bank Cash+, Chase Sapphire Prefered

Closingracer99 · ‎02-16-2016

@Ghoshida wrote:
@Anonymous wrote:
I was recently approved for a 2k limit Chase Freedom. I am a Chase banking, savings, and auto loan customer as well. I recieved a prequal for the Freedom and Slate but I only apped for the Freedom. My end-game card is the CSP. I understand Chase likes to see some other 5k limit cards but I only have one other card that meets that requirement, Wal-Mart. Should I increase my WM card usage to show some 5k limit experience? What would be the best strategy to go for the CSP? Chase pulled TU 685 and EX 630ish upon the Freedom app. Thanks inadvance for your help.
Congrats on your 2k Freedom.

For the CSP, you'll need higher EX score, preferably 700+. Keep checking the Chase Pre-approval Page for offers. Their offers are generally spot on unless you have frozen reports and stuff. (In my case.)

What is / are the reasons for your low score currently? Can you work on any negatives present in your current profile?

If your Walmart card is already 5k, no need to spend extra there. I'd rather spend more on the Freedom and pay in full, thus gaining Chase's confidence and getting some auto CLIs on the Freedom. You can expect some around the 6 month and the 1 year mark. Getting some auto CLI from Chase should be your sign for how Chase feels about you.

Not really... I have gotten one CLI from chase on my freedom which was 2 months after I got the card but none since. I have since applied for a total of 7 cards with them which 2 have been closed by me.

My Cards: Amex BCE: $9,000, Amex Hilton HHonors: $2,000, Amex ED: $12,000, Barclays NFL extra points: $3,000, Bank of America MLB cash rewards: $17,000, BBVA compass NBA Amex triple double rewards: $17,000, Chase Amazon: $1,000, Chase Freedom: $9,000, Chase Sapphire: $5,000, Chase Slate: $5,000, Chase Disney: $4,000, Citi Double Cash: $5,400, Citi AA plat: $5,500, Citi Simplicity: $3,000, Citi Thank you preferred: $8,800, Capital one GM: $2,000, Capital one PlayStation: $3,000, Gamestop: $1,150, Amazon Store: $5,000, Ebay MasterCard: $5,000, American Eagle Storecard: $750, Macy's: $500
EX: 744, TU:750, EQ: 740

DeeBee78 · ‎02-17-2016

Someone can correct me if I'm wrong but I believe Chase does not factor retail cards into their lending decisions unless there is a manual review. They want history on major cards, not retail, so having a $5k line on your Walmart card isn't going to help you.