Thin Credit File wanting to apply for CSP/CSR

Anonymous · ‎05-09-2017

I moved from Canada to US about 7 months ago and was lucky enough to get a Canadian based bank to issue US credit card for $13K limit and also getting a relative to put me as AU (card has a long and excellent history). I also took out a secured loan as soon as I landed in US in order to further boost my credit score. By all indications from Credit Karma and FICO score from my bank, my score is currently at around 760 which isn't bad at all as I have been able to maintain an almost perfect payment record since I landed.

The question now is - at what point do I stand a good chance to apply for the decent award cards such as the Chase CSR/CSP. I have read that I will need at least a year of credit history of my own before applying. I did apply for CSR couple months ago and got rejected. My income and asset level should justify for any of these cards but my lack of history is a bit of a concern. Should I wait till 1 year to apply or should I apply now (again)? Thank you.

Anonymous · ‎05-09-2017

AFAIK there are no data points of people getting the CSP/CSR with that short a credit history. I don't think Chase considers AU cards while analyzing applications either, so it might not help as much as you think.

I would say you should wait till atleast 1 year before applying. In the meantime, you could apply for the Freedom or Freedom Unlimited cards. You will get a handy 150$ in UR for the sign up bonus, which you can transfer over to the Sapphire card once approved, and the history of payments with Chase will also probably boost your internal score with them. You might get better pre qual offers as well. Do you bank with Chase? That does also seem to help a bit in general.

Anonymous · ‎05-11-2017

I don't bank with Chase as I live in a state that they do not have a presence. However, the idea of getting a Freedom Unlimited card is a good one. I am probably going to do that and then apply again for the Chase CSR later. Thanks.

newhis · ‎05-12-2017

Check Chase pre-qual site, visit it every now and then. As soon as it shows the CSP apply for it.

I think that if you wait a few months the SL will be better.

Check Amex, Citi and Cap1 pre-qual sites. Check the cards/APR they offer. As you history improves the APR will be lower.

If you only have 1 card and 1 AU, I think you could get another card, maybe Amex or Discover while you wait for Chase. Amex should be 10K or more after 6-8 months, that will help you get good SL with Chase. Good luck.