- Green Member
- Posts: 11
- Joined: Sat Sep 28, 2013 3:24 am
- Location: United States
Sorry to butt in, but this particular thread seems relevant to my question and it seems better to ask here than to start a new thread for something already being discussed:
I applied for the CSP a little over a week ago, and just got the denial notice in the mail today. I'm considering calling the reconsideration line, but a general sense of my chances would be helpful.
First off, the background:
-1 credit card to my name, a BoA student card with a $1,000 CL, open for 4+ years, paid on time and almost never used.
-Listed as an authorized user on one other card, a Chase United Club card with $30,000 CL (which I rarely use, but the balance by other users does appear on my report). Always paid in full.
-Experian score is 750. TU and EQ return errors when attempting to use their online free credit report service.
-3 credit pulls aside from Chase's. Two are infuriatingly from Comcast three days apart, when I signed up for internet/cable service. One from my apartment building when I applied to move in.
-Listed income of ~$27,000
-No other accounts with Chase
-No other loans of any kind
The listed reason for rejection is 'Not enough accounts opened long enough to establish a credit history,' and Experian, the only report I could access, indicates no data for months before December 2011, even though I've had the card since August 2009 (when I entered university). All months since then show correct payment (nothing was charged, anyway). The Chase United card shows proper payment from mid-2012 (when the account was opened) to the present.
I've seen others mention here that they've gotten approved with shorter credit histories, but with higher incomes, and I'm wondering if calling would simply result in another denial due to low income. It seems likely despite the lack of mention since most others have said over $30,000 yr for approvals.
The denial notice stated that it was due to a Equifax credit pull, but my Experian report specifically lists a pull from Chase on the same day I made the application, from their credit card division.
And before anyone asks, yes, CSP does fit my intended use, as I travel quite a bit for school and leisure, usually including an international trip each year, for which the lack of foreign transaction fee would be a boon in and of itself. In fact, I already have an international trip planned for the summer, and likely more in the coming years.
That aside, any other comments on the likelihood of approval on other similar cards like Freedom and normal Sapphire? Any other advice is welcome, as this is rather new for me.