Has Chase gone subprime

[heirophant]

Instant Approval Notification:

I am not complaining in the least that I got approved.  I applied for the standard Visa Platinum because I thought there was the off chance that they would look at my TU credit report and approve me with a high 500 score.  I just got a good vibe after looking at whogavemecredit.com and saw a few 500's getting approved.  I was completely shocked when they looked at my EQ score (543) and approved me.  Granted, I do have a auto loan through them that is perfect and 3 years long, so that may have helped.  Also, have a higher income now.  But, wow, I didn't think chase would go so low on the score.  My scores, listed below are still accurate as of today.  Anyone else been approved for a Chase card with these kinds of scores?  I just can't believe it.  My rate probably won't be very good or my limit.  But it is Chase and it will grow with me and that is all I care about.  Shiny new card that makes me feel prime, yeah.  Although I know the truth.  Oh, and sleigh center, here I come.  Just look at my signature and you will see why.  Cheers everyone!

Message Edited by heirophant on 12-22-2007 07:03 AM

[Anonymous]

it's a christmas miracle! lol, just kidding. congrats. i guess the auto loan/relationship may have helped.

[CreditDrama85]

i have known chase to always pull TU. they do offer cards with cls as low as $500, so maybe you have a cl of $1,500 or something.

GOOD WORK!

[MidnightVoice]

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@CreditDrama85 wrote:

i have known chase to always pull TU. they do offer cards with cls as low as $500, so maybe you have a cl of $1,500 or something.

GOOD WORK!

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Chase pulls EQ on me, I think that is the usual one

[Anonymous]

Take a good lok at your T&Cs when your card arrives.  Chase has always had what I consider a subprime arm...  Interest rates 20% and upwards.  I have a friend who was approved fr the freedom with higher scores and got a 20% interest rate.  If that is not subprime, I don't know what is.

[fused]

Chase is not sub-prime, but they certainly treat their card holders as such.

[Anonymous]

I just applied but got a message that they will process my application and notify me in writing within 30 days as required by law.  Pretty much a denial. 

I have a recent collection, <12 months.  My scores are:

602 EX

678 EQ

630 TU

I seem to be blackballed by cc's as I applied to Hooters and only got a $500 limit.

[FretlessMayhem]

I figured what the hell and I appd. Got the 7-10 business day message. Not sure who they pulled, but all my scores are over 600.

[Anonymous]

For me prime or sub p is in the T&Cs. Give me a 20% interest rate and I consider it subprime.  MY HHB? rebuilder didn't even have interest rates like that.  That plus the rep of ratejacking andnot really responding to long-time customers requests for lower interest rate suspiciously sounds like a subprime rebuilder card.

[marty56]

For me, I consider a CCC subprime if they charge a yearly and or monthly fee.  I dont really look at interest rates since I will make every effort to PIF.

In my bad past, when I was in a lot of debt, I was making the minimum monthly payment and didnt care less about interest rates or or how long it would take to pay it off.

I have been and boths ends of the spectrum in the credit universe and unless you are buying a car or a home, I dont think credit card interest rates are important when you are trying to rebuild/establish credit.