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Do I stand a chance with Chase Slate?

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ibmrad7
Established Contributor

Do I stand a chance with Chase Slate?

I am looking to make use of Chase Slate's 15 month BT offer but I am kind of on the fence if they will approve me or not.

Do you think with my profile I stand a chance?

 

AAoA: 4 years

Util: 57%

Income: 120K roughly

No baddies ever

1 auto loan, 30K, 18K remaining.

Highest CL: AMEX Hilton Honors 12900, Bal: 1200$

 

Never had a Chase credit card pre-approval. Current Score EQ: 645, TU: 674, EX: 685 (As per AMEX)

 

Message 1 of 24
23 REPLIES 23
SnackTrader
Valued Contributor

Re: Do I stand a chance with Chase Slate?

I'm somewhat surprised by your scores without having baddies on there. The 57% usage isn't good by any means, but I wouldn't think it should lead to a score well under 700.

How many INQs do you have? What aren't you telling us?

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 2 of 24
modernsurrender
Established Contributor

Re: Do I stand a chance with Chase Slate?

People will probably want a bit more detail on your profile, current CCs with limits and balances for example.

 

The only thing I see offhand from what you mentioned that might be off putting is your util.

 

I just got approved for Slate on Sunday and got the limit increased from $2000 to $5000 the next day, took two pulls one on TU and one on EX.  I had been pre-planning my apps since winter though, so my Util was around 5-9% depending on which report they looked at.  I also claimed a significantly lower income, have two old derogs on my report (one CO and one collection) and I have a year of history with Chase through my SW card.  

 

I would think your chances would be decent with them, but no one knows for sure.  Most people will probably say to lower your Util before applying because your scores will sky rocket (especially if you've got high percentage usage on any individual cards in particular) but I assume that's out of the question if you're looking for a BT?

Start 2/2008: TU 495 || EX 539 || EQ 528
Now 5/2013: TU 716 || EX ??? || EQ 702

Slate: $5000 Simplicity: $5000 David's Bridal: $3500 SW Chase: $3000 FNBO: $3000 Barclay NFL: $2500 BofA: $2400 Discover IT: $1700 Walmart: $1500 Victoria's Secret: $1000 Cap1: $750 Amex Zync: NPSL
(2 derogs to go until I'm squeaky clean in 2014!)
Message 3 of 24
ibmrad7
Established Contributor

Re: Do I stand a chance with Chase Slate?


@SnackTrader wrote:
I'm somewhat surprised by your scores without having baddies on there. The 57% usage isn't good by any means, but I wouldn't think it should lead to a score well under 700.

How many INQs do you have? What aren't you telling us?

I think its because couple of cards are hitting 80-90% Util.

 

My EX has 3 inqs out of which 1 is going to fall this month and other two are from Jan and Feb of 2013.

EQ has no inf and TU has one from Feb 2013

Message 4 of 24
ibmrad7
Established Contributor

Re: Do I stand a chance with Chase Slate?

 


@modernsurrender wrote:

People will probably want a bit more detail on your profile, current CCs with limits and balances for example.

 

The only thing I see offhand from what you mentioned that might be off putting is your util.

 

I just got approved for Slate on Sunday and got the limit increased from $2000 to $5000 the next day, took two pulls one on TU and one on EX.  I had been pre-planning my apps since winter though, so my Util was around 5-9% depending on which report they looked at.  I also claimed a significantly lower income, have two old derogs on my report (one CO and one collection) and I have a year of history with Chase through my SW card.  

 

I would think your chances would be decent with them, but no one knows for sure.  Most people will probably say to lower your Util before applying because your scores will sky rocket (especially if you've got high percentage usage on any individual cards in particular) but I assume that's out of the question if you're looking for a BT?


This is exactly the main reason my scores are low. If I  bring my util down than I would have no use of Slate Smiley Happy

Message 5 of 24
modernsurrender
Established Contributor

Re: Do I stand a chance with Chase Slate?

That's what I assumed.  What the total amount you're looking to BT?  Are you planning to apply for anything else any time soon?

Start 2/2008: TU 495 || EX 539 || EQ 528
Now 5/2013: TU 716 || EX ??? || EQ 702

Slate: $5000 Simplicity: $5000 David's Bridal: $3500 SW Chase: $3000 FNBO: $3000 Barclay NFL: $2500 BofA: $2400 Discover IT: $1700 Walmart: $1500 Victoria's Secret: $1000 Cap1: $750 Amex Zync: NPSL
(2 derogs to go until I'm squeaky clean in 2014!)
Message 6 of 24
ibmrad7
Established Contributor

Re: Do I stand a chance with Chase Slate?


@modernsurrender wrote:

That's what I assumed.  What the total amount you're looking to BT?  Are you planning to apply for anything else any time soon?


I am looking to do at least 5K. No more apps for me after this. Ready to garden for next year or two.

Message 7 of 24
SnackTrader
Valued Contributor

Re: Do I stand a chance with Chase Slate?

OK, let's assume it is your Util and that you will be using the Slate in the most positive manner possible (paying down existing debt).

Have you thought into why your Util got so high to begin with? For many people, no matter what the interest rate on their debt, they won't change the aspects of their lifestyle that put them into that scenario, and they just end up rolling 0% offers for as long as they can manage. You make $120k, so I'm sure you have some disposable income, but be ready to pay down aggressively once you get the Slate so that you don't perpetuate the debt cycle after the 15 months.

Also - from family experience on this card, Util can be recon'd since it is a BT card. So no baddies and 4 years AAoA will give you a pretty good shot, but you may need recon.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 8 of 24
TM82
Regular Contributor

Re: Do I stand a chance with Chase Slate?

I hope you don't get offended by this, but with an income of 120k, have you looked at trimming your expenses some as well? Again, without knowing your entire situation I won't comment in too much detail, but looking at trimming incomes would be a start as well.
My Cards
American Express Blue | American Express Premier Rewards Gold | Chase Amazon | Chase Freedom | Chase Sapphire Preferred | Chase United Explorer | Chase United MileagePlus Club | JPMorgan Palladium

Message 9 of 24
boomhower
Valued Contributor

Re: Do I stand a chance with Chase Slate?

It's going to depend a lot on what report they pull.  If it's EQ it'll be tough with that score and will likely be a lower limit if approved.  EX or TU should be alright.  Limit is kind of a crap shoot.  I agree the scores seem a bit low for the info given.

Message 10 of 24
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