2 CSR Applications: 1 Approved, 1 Denied

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Mancolt
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2 CSR Applications: 1 Approved, 1 Denied

Postby Mancolt » Sat Feb 11, 2017 6:01 pm

My girlfriend and I went into a Chase branch today to both open the CSR. I have more credit history and a higher annual income, but our scores (using CreditKarma) were within 1 point of each other (excellent). Her score was actually the higher one.

When I applied, I was approved for the CSR with a $23k credit limit. I have 5 other credit cards (a PNC Points Visa, PNC CashBuilder, Chase Freedom, Citi Costco, and Chase Slate) and an annual income of $100k.

When she applied, the manager told her that she was only eligible for the CSP. The manager initially selected her income bracket as the $25-$49k (I think that's what it was, but I couldn't see the screen), but I asked they update it to reflect the income from her 2nd job, which puts the total at right around $50k. The manager said she updated it, but was still only being offered the Chase Sapphire Preferred. My gf has only 1 credit card (Choice Privileges Visa). We had her open the CSP and we won't have any trouble meeting the minimum spends to get the bonuses, but i got her excited (stupid, I know, since I couldn't guarantee either of us would be approved) about the benefits of the CSR (namely the Airport lounge access when I'm not with her).

Does anyone have any thoughts on why she would have been denied, given a slightly better credit score?
Is there any chance she'd be eligible for the CSR before the 100k bonus switches to 50k (in almost 1 month exactly)?
Is it worth going to a different branch in a few weeks and trying to apply?

Thanks!


TXviking
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Re: 2 CSR Applications: 1 Approved, 1 Denied

Postby TXviking » Sun Feb 12, 2017 2:11 am

We can obviously only speculate, but I'm guessing Chase felt that $50K of income was on the low side to sustain the kind of travel and spending that makes a CSR worthwhile, both for her and for Chase.

Taalar
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Re: 2 CSR Applications: 1 Approved, 1 Denied

Postby Taalar » Wed Feb 22, 2017 10:27 pm

TXviking wrote:We can obviously only speculate, but I'm guessing Chase felt that $50K of income was on the low side to sustain the kind of travel and spending that makes a CSR worthwhile, both for her and for Chase.


This makes the most sense for me. What irks me is the charge for an additional card...
Chase Sapphire Reserve Visa Infiniti $59,500
Bank of America Cash Rewards Visa Signature $47,500
American Express Blue Cash preferred. $35,500
Capital one Quick Silver Visa Signature $25,000
USAA Limitless Cashback Visa Signature $25,000
Experian 838 Transunion 833 Equifax 855

kdm31091
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Re: 2 CSR Applications: 1 Approved, 1 Denied

Postby kdm31091 » Thu Feb 23, 2017 9:10 am

I agree with the theory that someone who makes 50k is not really going to be able to justify the CSR long term, so that's probably why Chase won't approve it.

yfan
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Re: 2 CSR Applications: 1 Approved, 1 Denied

Postby yfan » Thu Feb 23, 2017 1:45 pm

For the lounge access for her when traveling without you, could you just make her an AU on your CSR and make the benefits available to her that way?

Income is certainly a big factor in getting approved for a card that has a minimum credit limit of $10,000. But Chase may have also been looking at other cards you have. Chase does not like to be the first lender to extend a large line. I am going to guess that you already had one or more cards with a $10K or better limit before you applied for the CSR, and also that your gf's Choice Privileges Visa is under $10K. If this is true, Chase may have just not wanted to extend a 5-figure line due to her lack of history of having other 5-figure lines.

What was her SL on the CSP?



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