Want to apply for CSP

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takeshi
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Postby takeshi » Thu Mar 27, 2014 8:48 am

Najeem wrote:I have 6 hp and 2 will drop off next month. My income is 40-50k and score is 727. I'm also pre-qualified for the CSP. Should I apply next month or just wait longer?

Always helps to have less HP's. How's your utilization? 2 months gives you some time to optimize it.


Indymac
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Postby Indymac » Thu Mar 27, 2014 11:31 am

haikuginger wrote:I went ahead and app'd the CSP today. I had a prequalified offer with the 40k+5k bonus and a $95 AF, so I figured I might as well before the fee goes up for good, since it was in my long-term plan anyway. Approved for $12k, which makes that my highest limit.


I've noticed a pattern from what people have posted for their income and credit limit where Chase seems to give the CSP a credit limit of 20% of the income you gave them. So, I'm curious if you gave them $60k as your income?

haikuginger
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Postby haikuginger » Thu Mar 27, 2014 12:00 pm

Indymac wrote:I've noticed a pattern from what people have posted for their income and credit limit where Chase seems to give the CSP a credit limit of 20% of the income you gave them. So, I'm curious if you gave them $60k as your income?


$64k. It actually puts my total credit line with Chase right below 50% of my reported income.

Indymac
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Postby Indymac » Thu Mar 27, 2014 2:15 pm

haikuginger wrote:$64k. It actually puts my total credit line with Chase right below 50% of my reported income.


Thanks! That's close enough to satisfy my anecdotal hypothesis.

Najeem
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Postby Najeem » Thu Mar 27, 2014 3:59 pm

takeshi wrote:Always helps to have less HP's. How's your utilization? 2 months gives you some time to optimize it.


I just calculated it and its 20%. Should I use more or less?
EX - 724 EQ - 736 TU - 748
Chase Sapphire Preferred - $9.4K
Chase Slate - $2K
Chase Amazon - $2K
Amex BCP - $20K
Discover IT - $5.6k
Citi Diamond Preferred - $4.3K
Citi Forward - $3.3K
Citi Prestige - $9K
Capital One Quicksilver - $3.7K
Age - 23

MemberSince99
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Postby MemberSince99 » Thu Mar 27, 2014 5:40 pm

Najeem wrote:I just calculated it and its 20%. Should I use more or less?




Should be fine. If you want IDEAL it would be 1 to 4% but 20% isn't bad and shouldn't be any problem.

Najeem
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Postby Najeem » Thu Mar 27, 2014 9:10 pm

MemberSince99 wrote:Should be fine. If you want IDEAL it would be 1 to 4% but 20% isn't bad and shouldn't be any problem.


I actually paid off two of my accounts this month and it should be reported any day now. My utilization should go down to 8%.
EX - 724 EQ - 736 TU - 748
Chase Sapphire Preferred - $9.4K
Chase Slate - $2K
Chase Amazon - $2K
Amex BCP - $20K
Discover IT - $5.6k
Citi Diamond Preferred - $4.3K
Citi Forward - $3.3K
Citi Prestige - $9K
Capital One Quicksilver - $3.7K
Age - 23

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nismoZtuner
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Postby nismoZtuner » Fri Mar 28, 2014 1:01 pm

Patcell87 wrote:Yeah, the fees are all over the place... Each of these links depending on when and where I am show different numbers. When I applied at the beginning of March I just waited until I found a $95 link and applied. Customer service swears that existing card members will be grandfathered at their existing fee.


yeah i was told the same thing when i applied for my card inside the bank.


also, on the site they have...

"AFTER YOU SPEND $3,000 IN THE FIRST 3 MONTHS FROM ACCOUNT OPENING* "

but on the bank application they only require me to spend $2k in 2 months... for the 40k points
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

freyj6
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Postby freyj6 » Fri Mar 28, 2014 4:29 pm

Is there any consensus about the annual fee increase?

Ideally I'd like to wait until next fall to apply because that's when the annual fee hits for 2 of my other cards that I may be dropping, so it would be a good time to pick it up. However, if the fee is likely going up to $149 for everyone, it would be worth doing it now.

For the record:

Fico = 725 according to the Arrival's monthly thing. Was 767 before I applied for the Freedom so that's strange.

I have about 20k total limit and utilization of <10%. Income is $45-50k.

Should I apply soon, or wait until fall? Also, can anyone confirm that the bonus for 2k spending is often given if you go into a branch?

Thanks!
Current Strategy

Chase Freedom + Discover IT + Churning

linuxmachine
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Postby linuxmachine » Fri Mar 28, 2014 5:15 pm

freyj6 wrote:Is there any consensus about the annual fee increase?

Ideally I'd like to wait until next fall to apply because that's when the annual fee hits for 2 of my other cards that I may be dropping, so it would be a good time to pick it up. However, if the fee is likely going up to $149 for everyone, it would be worth doing it now.

For the record:

Fico = 725 according to the Arrival's monthly thing. Was 767 before I applied for the Freedom so that's strange.

I have about 20k total limit and utilization of <10%. Income is $45-50k.

Should I apply soon, or wait until fall? Also, can anyone confirm that the bonus for 2k spending is often given if you go into a branch?

Thanks!


Well, the only guarantee is to get it now. However, if you rather not and are willing to take some level of risk, this is the way I see it...

The fee won't change overnight without warning. It looks like Chase is working on the kinks on their website and the results look to be unstable. Rumors will increase and the rumbling will get a little louder before Chase makes a splash with product changes and/or fee increases. This will give you ample time to app for the CSP before the lower AF window is fully shut, as long as you stay in good shape to app for another card. Furthermore, historically, people have been found to find loopholes to get old app links to work in order to get specific offers, so all is not lost even after an announcement.

Of course, I could be wrong, so if you want it that badly, just get it sooner than later. My reasoning should be taken with a a spoonful of salt :)



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