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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)
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?
@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
@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
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?
@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.
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.