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Based on your info, score, and somewhat history, I think you have about a 90% chance of getting approved for the CSP....... I'd say go for it.
Decline. You need to have cards that have limits of $5,000 or more which is the minimum of CSP
TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!
hmmm im 50/50 on if you should apply or not. You definitely have the income, scores, and history to get approved under normal circumstances. What is abnormal is the credit lines...While i personally think you'd have a pretty good shot on recon of getting it...I can see how they might still deny you with a total of 3K across 4 cards.
Regardless of what many are saying on this thread, it is definitely not a requirement to have experience with a 5K or higher line to get the CSP. It may cause them to look twice if your history is very short or you don't have a 700+ score or you have very low income. Quite a few people around here get approved for it and post here that they're shocked because "i didn't have a single 5K line omg!"
That said, the fact that your lines are SO low at the moment could work against you. I think if you had just a couple lines at even 2.5K you could maybe even get instant approved considering the rest of your qualifications. Might be time for you to ask the capital one executive office for a CLI.
I find it very hard to get approved with limits of -1K you present. I would say the best option is for you to take the same path I took.
Either go amex charge + bcp if approved, get a GE card that can grow very quickly or call CapOne Executive Office.
In 2-4 months, depending on the way you choose to improve the situation, you will have a CL of 3-6K that can look better in their eyes.
@YahComb wrote:hmmm im 50/50 on if you should apply or not. You definitely have the income, scores, and history to get approved under normal circumstances. What is abnormal is the credit lines...While i personally think you'd have a pretty good shot on recon of getting it...I can see how they might still deny you with a total of 3K across 4 cards.
Regardless of what many are saying on this thread, it is definitely not a requirement to have experience with a 5K or higher line to get the CSP. It may cause them to look twice if your history is very short or you don't have a 700+ score or you have very low income. Quite a few people around here get approved for it and post here that they're shocked because "i didn't have a single 5K line omg!"
That said, the fact that your lines are SO low at the moment could work against you. I think if you had just a couple lines at even 2.5K you could maybe even get instant approved considering the rest of your qualifications. Might be time for you to ask the capital one executive office for a CLI.
+1
i think that if you had total credit lines of at least 5K across all cards you would probably be approved because of you scores- AAoA and income. it is not unheard of to be approved for this card without 5K experience but your over-all credit profile with revolvers is weak. I'm leaning more toward declined right now. You have a great shot at a high limit Freedom and I suggest the Amex PRG for a travel card right now. Your profile could use a few more CCs with decent limits. My recommendation: app Freedom- Amex PRG and Amex BCE/BCP. I think you are a good candidate for approval for all if the information you provided is accurate. JMO.
@kevinjjc wrote:How about a PenFed (Pentagon Federal Credit Union) credit card for the OP? They are known to give high limits if you have excellent credit. I think the OP will get approved with his good scores and no/low utilization.
PenFed Platinum Rewards Visa Card: https://www.penfed.org/Platinum-Rewards
- 5 points on gas purchases
- 3 points on supermarket purchases
- 1 point on all other purchases
- No foreign transaction fee
- No annual fee
- 9.99% APR (variable)
I strongly urge OP to consider PenFed. His scores and utilization are good, and he doesn't have a lot of credit cards right now, so they won't deny him for "Pyramiding Debt".
Just as a data point, I have 2 PenFed credit cards with credit limits totaling 50,000.
Just an update.. I just applied for AMEX Blue Cash Preferred and got his message.
"Your application will be processed as soon as possible, and we will notify you of the decision by mail within 14 days"
Did I get declined?