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GatorGuy
Posts: 351
Registered: ‎06-02-2013
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Re: Friend has Chase Liquid... Better options??


zyzzus wrote:

Themanwhocan wrote:

Creditaddict wrote:

zyzzus wrote:

handling the account in a responisble manner will eventually allow for the upgrade.  Bluebird would be another option though.


Do they document such a thing because I can't find anything online except that it doesn't help credit and is not a credit card!

I don't see anything about moving into regular chase accounts though or check system info.


I can't imagine this would allow for an upgrade to a credit card. It would be like somone with a checking account at a bank using their debit card, and expecting that good use of the debit card would allow for an eventual upgrade to a credit card. Doesn't work like that, you apply for the credit card, they still pull your Fico score. They're not going to say "gee, he used his debit card responsibly...".

 

Lets turn that question around. Just HOW would someone use a debit card irresponsibly? You have to put your own money in first. You can only take out upto what you already put IN. Therefore, all use is responsible useage, no?

 

Its a prepaid debit card. Its usage doesn't prove squat about your ability to use credit responsibly. They charge you $4.95 a month for having the card, so they make a nice $60 a year profit, plus card swipe fees from the merchants. Why would they want to stop that cash flow once they have found a sucker, err, make that a fiscally uninhibited person, willing to pay that much for a debit card?


I am not sure what gave you the impression I was speaking about credit cards (seeing as though I never mentioned them).  The upgrade that I was referring to was a regular checking account.

 

I'll be honest I didn't read the rest of your rant.


Lol...

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Valued Contributor
FocusedAndDetermined
Posts: 6,288
Registered: ‎01-05-2013
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Re: Friend has Chase Liquid... Better options??


zyzzus wrote:

I work at  Chase as a personal banker I have access to lists that I call every few months to let people know they can upgrade to a regular account.  

 

You are correct this is not a credit card and will not build credit subsequently.  This is a pre-paid debit card so I am under the impression this will not report to chex as it is not a deposit account. He could try to burn the candle at the other end.  Instead of waiting to be upgraded to a regular account after responsible use just try to take care of whatever is reporting on Chex.


What card are customers upgraded to and after how much use of the pre-paid do they qualify?

Established Contributor
zyzzus
Posts: 539
Registered: ‎10-22-2012
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Re: Friend has Chase Liquid... Better options??


FocusedAndDetermined wrote:

zyzzus wrote:

I work at  Chase as a personal banker I have access to lists that I call every few months to let people know they can upgrade to a regular account.  

 

You are correct this is not a credit card and will not build credit subsequently.  This is a pre-paid debit card so I am under the impression this will not report to chex as it is not a deposit account. He could try to burn the candle at the other end.  Instead of waiting to be upgraded to a regular account after responsible use just try to take care of whatever is reporting on Chex.


What card are customers upgraded to and after how much use of the pre-paid do they qualify?


I am sorry if I gave any implication of the liquid pre-paid debit card could be upgraded to a credit card with Chase.  


Unless one were to keep around $10,000 in the account on average it would play no bearing on a CC approval.  This account could be upgraded to a regular deposit account (checking).

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Valued Contributor
Themanwhocan
Posts: 1,514
Registered: ‎04-04-2013
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Re: Friend has Chase Liquid... Better options??

Whups, yes my mistake.

 

When you mentioned upgrading from a pre-paid debit card to a 'regular account', and this being the credit card forum, I assumed you were talking about upgrading from debit to credit card.

 

Nevermind ... :smileywink:


Valued Contributor
FocusedAndDetermined
Posts: 6,288
Registered: ‎01-05-2013
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Re: Friend has Chase Liquid... Better options??


zyzzus wrote:

FocusedAndDetermined wrote:

zyzzus wrote:

I work at  Chase as a personal banker I have access to lists that I call every few months to let people know they can upgrade to a regular account.  

 

You are correct this is not a credit card and will not build credit subsequently.  This is a pre-paid debit card so I am under the impression this will not report to chex as it is not a deposit account. He could try to burn the candle at the other end.  Instead of waiting to be upgraded to a regular account after responsible use just try to take care of whatever is reporting on Chex.


What card are customers upgraded to and after how much use of the pre-paid do they qualify?


I am sorry if I gave any implication of the liquid pre-paid debit card could be upgraded to a credit card with Chase.  


Unless one were to keep around $10,000 in the account on average it would play no bearing on a CC approval.  This account could be upgraded to a regular deposit account (checking).


Got it!   That makes far more sense.  I was triple multitasking at the time and obviously didn't read/comprehend clearly.

Valued Contributor
FocusedAndDetermined
Posts: 6,288
Registered: ‎01-05-2013
0

Re: Friend has Chase Liquid... Better options??


Themanwhocan wrote:

Creditaddict wrote:

zyzzus wrote:

handling the account in a responisble manner will eventually allow for the upgrade.  Bluebird would be another option though.


Do they document such a thing because I can't find anything online except that it doesn't help credit and is not a credit card!

I don't see anything about moving into regular chase accounts though or check system info.


I can't imagine this would allow for an upgrade to a credit card. It would be like somone with a checking account at a bank using their debit card, and expecting that good use of the debit card would allow for an eventual upgrade to a credit card. Doesn't work like that, you apply for the credit card, they still pull your Fico score. They're not going to say "gee, he used his debit card responsibly...".

 

Lets turn that question around. Just HOW would someone use a debit card irresponsibly? You have to put your own money in first. You can only take out upto what you already put IN. Therefore, all use is responsible useage, no?

 

Its a prepaid debit card. Its usage doesn't prove squat about your ability to use credit responsibly. They charge you $4.95 a month for having the card, so they make a nice $60 a year profit, plus card swipe fees from the merchants. Why would they want to stop that cash flow once they have found a sucker, err, make that a fiscally uninhibited person, willing to pay that much for a debit card?


Depending on how much you have on account with Chase, you can get the Liquid with no fees.  There are instances when people want to separate their spending, but don't necessarily want to use a credit card. 

 


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