Chase Pre-qualfied

[creditguy]

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@Anonymous wrote:

I could be wrong, but I'll know for sure when I aplly for Freedom card next year.  While we are at it, another thing that bugs me when people say a bank is "INQ sensative". Again, do you work for the underwiting dept? Inq are "sensative" when the rest of your report doesnnt meet underwiritng standards. You know and I knoiw "too many inq" on denial letter is auto excuse for "you don't meet our credit standards". I say offer your experience good or bad but don't try to speculate on banks intermal policy! Your giving worthy would be applicants a false negative.

Do you think people are lying when they say certain banks are inquiry sensitive? Well once again it's well documented here that certain banks are and no I am no underwriter so I'm probably making it up. Well how about when people call for recon and are told they were denied for excessive inquiries? It's well documented here as well that that's exactly what they experienced. Certain banks have certain rules and yes we don't know all the internals but I've never thought to myself "you know what that persons a liar for saying that" or "you know what that bank is lying to me about why they declined my app" geez come on lighten up, people are here to provide the best information they have and help out the best they can, I for one am grateful that others choose to share their experiences. Go call a bank and try to get this kind of information. If you dont believe people and see how far you get. 

[creditguy]

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@Anonymous wrote:

Ok so lets say you have the perfect credit report that Chase wants to see. I mean literally 100% MONEY MAKER good risk, but they will deny you on so called 5/24.rule. I don't believe it.

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Yes it's true and well documented, people of all credit scores and incomes have been denied for 5/24. It's called risk control and that's how chase rolls.  It doesn't have to make sense to you or I, it makes sense to chase and at the end of the day most people more than likely need and want chase more than chase needs or wants them. sorry but people are not lying, apply and try it and report back to us. 

[kdm31091]

Im really not getting your resistance to believing that the 5/24 rule exists. It is not just the usual "too many inquiries" denial. It is a hard limit on number of new accounts opened in 2 years. Chase is cracking down on people who open a lot of cards. Period. Its not a myth, rumor, or anything. Its widely documented.

As the above person said the only person it has to make sense to is chase. If they are pleased with it, its their choice. Theyre giving the rewards, so they can be as selective with approvals as they choose. It is what it is. People who truly want the cards to keep long term will wait the amount of time and be rewarded whereas churners are unlikely to wait so long between apps, which I assume is chase's goal here - to lock them out.

[Anonymous]

I told you first thread. I apllied and got appoved Chase Slate $5000 SL with 6 new card accoiunts within the last 18 months. Guess i was the one anomomly they selected? I got approved because I'm a good credit risk, period!

[kdm31091]

And as stated slate offers no rewards so its probable they are more willing to be lenient with approvals. Freedom or CSP 99.9% of the time follow the 5 in 24 rule.

[Anonymous]

I keep throwing out pure logic and getting spevculation back! First it was because they probably initiated the 5/24 rule AFTER I got my Slate approved May 2015 now becuase it wasn't a rewards card? And if they give someone $2000 SL on rewards but me $5000 on Slate, Chase not in it more risk at $5000? Again, we are speculating and making up banking rules as we go!

[creditguy]

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@Anonymous wrote:

I told you first thread. I apllied and got appoved Chase Slate $5000 SL with 6 new card accoiunts within the last 18 months. Guess i was the one anomomly they selected? I got approved because I'm a good credit risk, period!

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To use your own words  "I find some of the credit (especially SL) lines and scores reported from some readers a little dubious. It's still the internet and we can put any unverified bs we want on a post." This is the Internet you can tell us anything right? maybe your not being truthful about breaking the 5/24 rule. Don't know and don't care I'm not jumping to conclusions and making accusations as you have. I would just like to point out it works both ways. The point is many people have cited 5/24 and its too many to be coincidental. Maybe you got around it for some odd reason but that doesn't mean because other weren't able to, they are being dubious. this is a friendly place and most everyone is respectful to one another, if you have a question ask, if you have doubts, that fine too, but please be aware of how you address that skepticism. 

[Anonymous]

I'm just sharing on my experince and offering dialog for debate.I find you to be a bit accusational.  I'm not acusing anyone of lying. This is my last post ever. Good luck everyone!

[Anonymous]

This is getting a little excessive. I am all for debates but I would prefer more than one persons skewed view.  Again this is occams razor. The most simple of explanations. It was a slate, no rewards, maybe you had a relationship with chase, maybe you applied in branch for all I know.

Do you have a previous relationship with them, checking, savings, CD?

We don't want this to be your last post. This is what makes a community. Balanced views.  Yours just happens to be a little left of center.

[gdale6]

Thread is locked and under moderator review. Any TOS violations will be addressed by PM.

gdale6

myfico Moderator