Chances of Chase Saphire Preferred??

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Tubpbs
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Re: Chances of Chase Saphire Preferred??

Postby Tubpbs » Fri Apr 22, 2016 6:34 pm

Elijahmex wrote:
dbsdnaks wrote:Hi,

I am wondering if I have any chance of being approved for the CSP.
I am a student with no job but receive tuition, rent and allowance from home which sum up to $133,000.

2015/09: Citi Thank You Card for College Students (CL$500)
2015/09: Applied for Amex - denied (2 inquiries)
2016/03: Amex SPG (CL$10,000)

Credit Karma score is 684. It doesn't reflect my Amex yet but I assume score will go up once it does. I heard that CC companies are able to view new credit cards and limits although it doesn't show up on the reports yet.
Do you think I have a chance?


Every time you add a new account to your CR your scores will decrease and not increase. In your case they will drop significantly because you only have 1 CC. Expect a 30point hit. The thinner the file, the harder the impact.

Also I thought the SPG was a NPSL. How do you know your limit is 10,000$?


As I understand it the SPG is a regular revolving credit card...why would it have no pre set spending limit??
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It


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CarefulBuilder14
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Re: Chances of Chase Saphire Preferred??

Postby CarefulBuilder14 » Fri Apr 22, 2016 8:15 pm

SPG is a revolver, not a charge card. That said, some people do report even Amex revolvers often having a soft/flexible CL.

$10k makes a lot more sense than $100k.

As far as the odds of a CSP, it seems plausible. I don't work for Chase, though. I'd wait for the Amex to report for applying. That might take around 2 months after the date you were approved for SPG.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
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Letting new accounts cool off since May
Really not sure what I'll add next or when

Elijahmex
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Re: Chances of Chase Saphire Preferred??

Postby Elijahmex » Fri Apr 22, 2016 9:30 pm

Tubpbs wrote:
Elijahmex wrote:
dbsdnaks wrote:Hi,

I am wondering if I have any chance of being approved for the CSP.
I am a student with no job but receive tuition, rent and allowance from home which sum up to $133,000.

2015/09: Citi Thank You Card for College Students (CL$500)
2015/09: Applied for Amex - denied (2 inquiries)
2016/03: Amex SPG (CL$10,000)

Credit Karma score is 684. It doesn't reflect my Amex yet but I assume score will go up once it does. I heard that CC companies are able to view new credit cards and limits although it doesn't show up on the reports yet.
Do you think I have a chance?


Every time you add a new account to your CR your scores will decrease and not increase. In your case they will drop significantly because you only have 1 CC. Expect a 30point hit. The thinner the file, the harder the impact.

Also I thought the SPG was a NPSL. How do you know your limit is 10,000$?


As I understand it the SPG is a regular revolving credit card...why would it have no pre set spending limit??


My bad I got it confused with PRG :beat:
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TXviking
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Re: Chances of Chase Saphire Preferred??

Postby TXviking » Fri Apr 22, 2016 10:51 pm

My advice is to bring your FICO up to the 730-750 range before applying for the CSP. Anecdotally, it doesn't exactly seem to be the easiest card to get approved for.

dbsdnaks
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Re: Chances of Chase Saphire Preferred??

Postby dbsdnaks » Sat Apr 23, 2016 12:19 am

TXviking wrote:My advice is to bring your FICO up to the 730-750 range before applying for the CSP. Anecdotally, it doesn't exactly seem to be the easiest card to get approved for.


Thanks for the reply.
On Citicard, I can see my FICO score as 624. (As of Mar 22)
On Amex, my FICO score is 734. (As of Mar 30)

Which one should I consider as my score?

Tubpbs
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Re: Chances of Chase Saphire Preferred??

Postby Tubpbs » Sat Apr 23, 2016 11:56 am

dbsdnaks wrote:
TXviking wrote:My advice is to bring your FICO up to the 730-750 range before applying for the CSP. Anecdotally, it doesn't exactly seem to be the easiest card to get approved for.


Thanks for the reply.
On Citicard, I can see my FICO score as 624. (As of Mar 22)
On Amex, my FICO score is 734. (As of Mar 30)

Which one should I consider as my score?


They are both your scores. They are from different scoring models and from different credit bureaus.

Amex I believe is Experian FICO 8 and Citi is Equifax FICO (not 8, but not sure exactly what it is).
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It



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