OMG IN SHOCK Chase-Will I get approved

[bobtail]

Applied for Chase Disney card on 10/2.  Denied. Called recon, told CR to thin, too many inquiries. They pulled EX,  EX- score 744 (FICO)

Applied for Kohls on 10/7  approved  300cl

10/19       soft pull reported on CR from chase

10/31       received in mail pre approve offer for chase sapphire

Any thoughts on approval???

Message Edited by bobtail on 11-14-2009 05:24 PM

[crosbyk1]

I don't think that you would be approved. That chase card has a min cl of 5k and if chase will not approve a store card I dont think your chances would be very good. I am not trying to be negitive it is just that chase is not that easy going.  

[Jazzzy]

Pre-approvals (or whatever other names they call them...invitations, etc.) are tempting...but they are fairly meaningless. Don't fall for them unless you've done a lot of research and know the realities of your being accepted. That's what you've done in coming here. Try to follow the advice given and resist temptation. Don't accumulate meaningless inquiries on your reports.

You may have gotten the pre-approval based on your FICO score. It's not too tough to get a fairly high FICO score on a thin file. When you are looked at for the final app, however, the FICO score is only part of the analysis.

[voidman]

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@LynetteM wrote:

Pre-approvals (or whatever other names they call them...invitations, etc.) are tempting...but they are fairly meaningless.

---

 Preapprovals gives a good indication that your score is considered good enough for the card. My credit file was brand new 2 years back. I always responded to pre-approvals and got approved for the cards that I wanted. 

 Once I applied for a HSBC card coz I wanted a 0% offer, applied got denied. That was not a pre-approval just applied online. 

 I think pre-approvals gives a better chance than applying radomly to the card thatyou want. 

 

[bobtail]

Gave the pre approval offer a try.  Got the usual 7 - 10 day response.

Drowned my sorrows applying to Walmart - instant approval 800.00cl and JC Penny - instant approval 350cl

Got the courage to call Chase--stunned to hear recording  "congratulations you have been approved",   

current balance $0.00     available     $5,000.00    You will receive your card and packet in 7 days.

Woo Hoo   in shock.  Started repairing credit in March 09, amazing how good, being responsible with credit feels!

3/09  FICO EQ 601

                 TU 595

                 EX 590

11/09         EQ 717

                 TU 727

                 EX 744

With new accounts and inq.  I'm sure gonna take a big hit. Credit file was thin,(only card was Orchard 300cl)  last months added four new accounts, now these three.   I will continue to monitor report, but won't pull scores until spring. Of course I am done applying for a long long time.

[creditwherecreditisdue]

Any idea what your AAoA was/is?

[bobtail]

 Hope this ans. your question.  I think AAoA is average age of accounts, not sure if closed accounts factor

EQ oldest account 19 yrs,   6 accounts- 5 pd and 1 open   1 neg account and 1 paid judgement 2004

TU oldest account   9 yrs     5 accounts  4 pd and 1 open   1 paid judgement 2004

EX oldest account   5yrs      3 accounts  2 pd and 1 open     no baddies

Have a problem getting mtg to report correctly with EQ, was 120 days late in 2004, paid in full 2005, but they are reporting currently 120 days late and every month another green block gets filled in on the payment grid.  Have tried everything to correct. Don't understand because EQ is reporting 0 bal and Paid 5/2005

[creditwherecreditisdue]

AAoA is the average age of every TL on your CBR both open and closed. Easiest way to calculate it is convert the age to months, add them all up, and then divide by the number of TL's. Then convert back to years and months.

Every one of those 120-day lates is a baddie. You really need to figure out some way to get it fixed. Sometimes EQ is a bunch of real lulu's!

[Anonymous]

Proof of underwriting schizophrenia (every card has its own criteria). I'm glad you got approve.

[DI]

I applied for a Chase card a while back.  I got denied.  I called the recon and was approved for $4000.  The CSR did an override to get me approved.  I call back later that day to check to see if additional information was needed.  I got a different CSR and she declined me again. 

She asked me who did I talk to earlier that day.  She said I had too many recent inquiries.    I went on an app spree, and all the creditors pulled my EQ report.