cancel
Showing results for 
Search instead for 
Did you mean: 

Chase Slate BT Offer - QUESTION

tag
Anonymous
Not applicable

Chase Slate BT Offer - QUESTION

Received a 'Pre-Approved' offer from Chase Slate.  The BT terms were excellent, so thought I'd apply.  Completed the process online through their application platform. Received a message saying the application was under review and a letter will be sent within 7-10 business days informing me of the decision. The fact that I wasn't immediately approved is almost surely not a good sign. My experience, and that of friends + family historically, has always been that the "letter will be sent informing you of our decision" notice means the application was denied.

 

Question:  Has anyone ever received such a response, and then actually received a letter in the mail where a credit offer was actually extended??  Or is it effectively a foregone conclusion that I will almost surely be denied?  

 

My FICO 8 Score (which Experian uses) is 770. My FICO 3 Score (Equifax & TransUnion) is 690.  Payment history is nearly spotless & credit history length is about 15 years on average. My income is in the solid 6 figures.  But I keep most of my liquid assets in investment accounts (not with Chase), and my Chase checking account rarely has more than $3,000 in it.  My understanding that Chase relies heavily on internal factors to draw their decision, in which case it seems the low average checking account balance might be working adversely against me.

 

Feedback would be most graciously appreciated!  

 

Thanks!!

 

- Frank

 

 

5 REPLIES 5
Closingracer99
Valued Contributor

Re: Chase Slate BT Offer - QUESTION

It could be a security thing... I would call one of the backdoor numbers.


My Cards: Amex BCE: $9,000, Amex Hilton HHonors: $2,000, Amex ED: $12,000, Barclays NFL extra points: $3,000, Bank of America MLB cash rewards: $17,000, BBVA compass NBA Amex triple double rewards: $17,000, Chase Amazon: $1,000, Chase Freedom: $9,000, Chase Sapphire: $5,000, Chase Slate: $5,000, Chase Disney: $4,000, Citi Double Cash: $5,400, Citi AA plat: $5,500, Citi Simplicity: $3,000, Citi Thank you preferred: $8,800, Capital one GM: $2,000, Capital one PlayStation: $3,000, Gamestop: $1,150, Amazon Store: $5,000, Ebay MasterCard: $5,000, American Eagle Storecard: $750, Macy's: $500
EX: 744, TU:750, EQ: 740
Message 2 of 6
SouthJamaica
Mega Contributor

Re: Chase Slate BT Offer - QUESTION


@Anonymous wrote:

Received a 'Pre-Approved' offer from Chase Slate.  The BT terms were excellent, so thought I'd apply.  Completed the process online through their application platform. Received a message saying the application was under review and a letter will be sent within 7-10 business days informing me of the decision. The fact that I wasn't immediately approved is almost surely not a good sign. My experience, and that of friends + family historically, has always been that the "letter will be sent informing you of our decision" notice means the application was denied.

 

Question:  Has anyone ever received such a response, and then actually received a letter in the mail where a credit offer was actually extended??  Or is it effectively a foregone conclusion that I will almost surely be denied?  

 

My FICO 8 Score (which Experian uses) is 770. My FICO 3 Score (Equifax & TransUnion) is 690.  Payment history is nearly spotless & credit history length is about 15 years on average. My income is in the solid 6 figures.  But I keep most of my liquid assets in investment accounts (not with Chase), and my Chase checking account rarely has more than $3,000 in it.  My understanding that Chase relies heavily on internal factors to draw their decision, in which case it seems the low average checking account balance might be working adversely against me.

 

Feedback would be most graciously appreciated!  

 

Thanks!!

 

- Frank

 

 


It's a very common response from Chase, it does not foreshadow approval or denial... It's just what they do.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 3 of 6
Anonymous
Not applicable

Re: Chase Slate BT Offer - QUESTION

Excellent - good to know.  Thanks for the feedback.  I'll post an update once the response letter comes in.

 

Thanks again for the feedback.

Message 4 of 6
Anonymous
Not applicable

Re: Chase Slate BT Offer - QUESTION


@Anonymous wrote:

Excellent - good to know.  Thanks for the feedback.  I'll post an update once the response letter comes in.

 

Thanks again for the feedback.


IMO your doing the right thing. Some people have reported positive results waiting for Chase to contact them in lieu of calling one of the backdoor numbers. I hope everything works out in your favor.Smiley Happy 



 

Message 5 of 6
Anonymous
Not applicable

Re: Chase Slate BT Offer - QUESTION

Just an update for all those who were kind enough to offer feedback to my initial question:

 

Chase Slate approved me.  Got the approval & card in the mail today.  Credit limit was lower than I expected ($3,200), but not egregious either.  I'll have to keep this experience in mind for future reference - a "letter informing you of our decision" response doesn't necessarily indicate an application denial!

 

- Frank

Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.