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UPDATE - Chances for Ink Plus approval after Freedom recon?

Valued Contributor

UPDATE - Chances for Ink Plus approval after Freedom recon?

DH just got the Freedom after recon this weekend. We also brought his util down by doing a BT to one of my cards. His EX score from Oct'12 was 712. The Ink Plus is one of the cards that he's wanted to get, which would partner nicely with my CSP+freedom combo. Would it be better to app for it now or wait 3-6 mos? He only has 2 inq in the last year. The most recent one was for the Freedom this weekend. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 1 of 16
15 REPLIES
Moderator Emerita

Re: Chances for Ink Plus approval after Freedom recon?

He had to recon Freedom? Any ideas what his sores are now?
Message 2 of 16
Valued Contributor

Re: Chances for Ink Plus approval after Freedom recon?

Yeah, he was denied initially because of one baddie (120+late on BR card) from 2007 and he was maxed out on his one CC but his overall util is now below 30%. No idea on current fico scores. He's got "good" FAKO scores but those aren't very helpful obviously. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 3 of 16
Super Contributor

Re: Chances for Ink Plus approval after Freedom recon?

If he had to recon his freedom, it would be best to wait 12 months before he try another Chase app.

The Ink is considerably a lot harder to get compared to Freedom.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 4 of 16
Moderator Emerita

Re: Chances for Ink Plus approval after Freedom recon?

Maybe he should go in to the branch. If not, maybe 6 mos
Message 5 of 16
Super Contributor

Re: Chances for Ink Plus approval after Freedom recon?

Ink is harder to get and chase checks to make sure it's a legally setup business and owner or officer authorized to sign for business accounts 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 6 of 16
Valued Contributor

Re: Chances for Ink Plus approval after Freedom recon?

Yeah, the DH wouldn't have any problem proving up the business end. It's not the "I sold something on eBay once" type scenario! lol. He's got the 1099s to back his app up. Smiley Wink It's just that his personal fico score is probably hanging around 700ish level due to high util on one of his cc and one baddie from 2007. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 7 of 16
Super Contributor

Re: Chances for Ink Plus approval after Freedom recon?


parakleet wrote:

Yeah, the DH wouldn't have any problem proving up the business end. It's not the "I sold something on eBay once" type scenario! lol. He's got the 1099s to back his app up. Smiley Wink It's just that his personal fico score is probably hanging around 700ish level due to high util on one of his cc and one baddie from 2007. 


It should have no bearing then with document if needed even with high personal UTL they just use personal credit as guarantor and his scores are good IMHO

The plus is they just report to business credit unlike cap1 that reports to both ink is a card i'm lookinhg atSmiley Wink

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 8 of 16
Super Contributor

Re: Chances for Ink Plus approval after Freedom recon?


parakleet wrote:

Yeah, the DH wouldn't have any problem proving up the business end. It's not the "I sold something on eBay once" type scenario! lol. He's got the 1099s to back his app up. Smiley Wink It's just that his personal fico score is probably hanging around 700ish level due to high util on one of his cc and one baddie from 2007. 


pay down the cards and see what it does to his score. if it goes up quite a bit he could go for it. 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 9 of 16
Valued Contributor

Re: Chances for Ink Plus approval after Freedom recon?

Update - DH apped for the Ink Bold yesterday and spoke with the analyst this morning - approved! Now we're both definitely in the garden until at least August. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 10 of 16