Credit Cards Center Credit cards from our partners
Reply
Established Member
Posts: 17
Registered: ‎11-07-2009
0

Chase Pre-Qualification

Do you know if they do a hard pull for a Chase Pre-Qualification? I'm already pre-approved through Wells Fargo, but my agent told me to get a pre-approval with Chase because the property we're interested in is bank owned by Chase.

 

The Chase Pre-Qualification Online Form said that they need more info. I called the 800 number, and they said that they can't pre-qualify at this time, but it costs $395 for a pre-approval from Chase.

 

I hope I didn't just ding my credit for nothing.

 

My scores were 801ex, 716tu, 703eq before this. I just bought my tu and eq score earlier this week. I'd hate to dish out another 20 bucks again this week to recheck my scores.

Moderator Emeritus
Posts: 5,279
Registered: ‎03-18-2008
0

Re: Chase Pre-Qualification

The Chase application almost definitely will result in a hard inquiry.  But mortgage inquiries within a 45 day time period are treated as a single inquiry, and any mortgage inquiry is not included in scoring for 30 days.  That way, people don't get penalized for rate shopping.  So, the WF inquiry should not affect the score pulled by Chase, if that inquiry was made less than a month ago.
Regular Contributor
Posts: 213
Registered: ‎07-26-2009
0

Re: Chase Pre-Qualification

I would say it's a nearly 100%, if not 100%, certainty that a pre-approval involves a "hard pull." 

Regular Contributor
Posts: 213
Registered: ‎07-26-2009
0

Re: Chase Pre-Qualification

I forgot to add:  if you don't have too many inquiries over the past year, your credit probably will not be "dinged" too much, if at all.  I didn't get "dinged" until I had about 4 inquiries. My scores were about the same as yours when I started; they went down some because of the added inquiries.  I still got approved, though, and closed yesterday.

 

Yep....it's true, FICO allows you to mortgage shop; they'll cound 10 inquiries as 1 within a 30 day (I've even heard 45 day) window.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.