Chances of Chase Saphire Preferred??

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

Postby dbsdnaks » Fri Apr 22, 2016 1:11 am

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?
Last edited by dbsdnaks on Fri Apr 22, 2016 12:37 pm, edited 1 time in total.


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CarefulBuilder14
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Re: Chances of Chase Saphire Preferred??

Postby CarefulBuilder14 » Fri Apr 22, 2016 12:36 pm

Amex gave you a $100k CL when your only other CC account was a $500 student card?

Are you the primary on that Amex? An AU? Maybe it's a business card with a well-established company guaranteeing it?

Even if you had several million in investments, that seems very unusual.
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Elijahmex
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Re: Chances of Chase Saphire Preferred??

Postby Elijahmex » Fri Apr 22, 2016 2:20 pm

What's going on here?
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CarefulBuilder14
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Re: Chances of Chase Saphire Preferred??

Postby CarefulBuilder14 » Fri Apr 22, 2016 2:34 pm

Elijahmex wrote:What's going on here?

I'm guessing OP (post removed) set off the troll alarm. A student with a thin file claiming to have a super-high-limit SPG.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Tubpbs
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Re: Chances of Chase Saphire Preferred??

Postby Tubpbs » Fri Apr 22, 2016 4:37 pm

CarefulBuilder14 wrote:
Elijahmex wrote:What's going on here?

I'm guessing OP (post removed) set off the troll alarm. A student with a thin file claiming to have a super-high-limit SPG.


What do you guys mean when you say "troll"?

Someone who posts just for a reaction?
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Re: Chances of Chase Saphire Preferred??

Postby CreditCardGuru » Fri Apr 22, 2016 4:59 pm

Quick clarification:

When the OP edited the thread (to make a correction), it kicked it back into the moderation queue (as OP is a new member who hasn't met the 3-approved-posts requirement yet). This is what made it appear as if the post had been deleted.

Sorry for any confusion!

dbsdnaks
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Re: Chances of Chase Saphire Preferred??

Postby dbsdnaks » Fri Apr 22, 2016 5:24 pm

CarefulBuilder14 wrote:Amex gave you a $100k CL when your only other CC account was a $500 student card?

Are you the primary on that Amex? An AU? Maybe it's a business card with a well-established company guaranteeing it?

Even if you had several million in investments, that seems very unusual.



My mistake - I meant to write $10k. Sorry for the confusion.

Elijahmex
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Re: Chances of Chase Saphire Preferred??

Postby Elijahmex » Fri Apr 22, 2016 5:36 pm

CreditCardGuru wrote:Quick clarification:

When the OP edited the thread (to make a correction), it kicked it back into the moderation queue (as OP is a new member who hasn't met the 3-approved-posts requirement yet). This is what made it appear as if the post had been deleted.

Sorry for any confusion!


Alrighty. When I opened the thread all I saw was CarefulBuilder's response to an inexistant OP.

Anyway, it must be nice to ball out as an unemployed student. That is if any of this is real.

I'll give him the benefit of the doubt. So to the OP I wouldn't app for a CSP just yet. Your credit is less than a year old and I can guarantee Chase will deny you because of length of credit history and low amount of accounts opened.
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Elijahmex
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Re: Chances of Chase Saphire Preferred??

Postby Elijahmex » Fri Apr 22, 2016 5:42 pm

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$?
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dbsdnaks
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Re: Chances of Chase Saphire Preferred??

Postby dbsdnaks » Fri Apr 22, 2016 5:50 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$?


Thank you for your response.
I've used Amex in another country, and I think this helped because on my card it says member since 2014.
When Amex reports to agencies, I am hoping they would backdate to 2014, not 2016.
Also, I thought because my credit utilization rate would drop, it would help with the scores.

I know my limit is $10k because that's what the woman told me on the phone when I was approved, and I also see the 10k limit on the website.
I guess I'll have to try the Freedom first, or wait a couple months before applying for the CSP.



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