Should I apply for CSP?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Should I apply for CSP?

Postby dood88 » Wed Feb 13, 2013 3:27 pm

Hi all,

I haven't posted before, but I have read through many of the helpful posts on here for quite a while. I'm looking for advice on applying for the Chase Sapphire Preferred card --

I'm a young professional with relatively limited credit history (about 1.5 years) but a good score (740). Currently I have a credit line around $8K split between 2 cards and no other loans (and no blemishes, either). I'm wondering if I have a good shot at approval for this card given my stats, or if I need to wait for longer.

Another wrinkle in this is that I have 4 total inquiries on my record, and I don't want to push it to 5 or above for no reason.

Any help or advice would be really appreciated!!

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Location: AA

Postby crux » Thu Feb 14, 2013 3:38 pm

You're pretty close to my situation (similar scores) except I only have 1 inquiry.
I think you have a good chance and the recon line does help should a denial/pending happen.
Make sure you study the benefits of the card because they will ask you why you want it. The bonus points is really attractive but if you focus on that they might think you'll close the card before the annual kicks in and therefore deny you.

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Location: San Diego

Postby lexrj » Fri Feb 15, 2013 2:10 am

I'm on similar situation and haven't decided yet either, would love to hear if they approve you or not in case you decide to apply for it.

What's the main reason you're looking for the CSP?
Current in my Wallet
Amex BCP - 25K (02/12)
Barclaycard Arrival WMC - 15K (10/13)

US Bank Cash +

Socks drawer
Crap One Quicksilver - 1.7K (04/11)
CSP - 15K (03/13)

FICO EX 772 / TU 765 / EQ 762 - (09/14)
AAoA 2.1

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Location: US&A

Postby agp » Fri Feb 15, 2013 6:43 am

If you travel enough for work, then yes. What is enough? If you convert all your points to cash, then you need to spend about $4500 on travel, food, or lodging to break even. However, this value is worth much more if points are transferred to partners. For example, $4500 will earn you 9000 (+630 at year end) points. If those points are transferred to Avois, it's enough for a round trip between any AA/AE cities within 600 miles. Which is worth much more than $90. Point being, if you travel a lot (and therefore dine a lot as well), then CSP would be a good card for you.

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

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