topic Re: Chase pre-approval in branch! App now, or later? in Credit Card Approvals

Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 02:32:28 GMT

I have been planning on applying for a Chase Freedom card next month. I've been banking with Chase for around 2 years, and have regular direct deposits and cash deposits from two jobs and regular transfers to savings. I went to deposit cash tips from my second job and was told by the teller I was pre-approved for a credit card. I asked which and she directed me to a banker, who showed me on her screen that I was pre-approved for the Chase Freedom and Slate.

I explained to the banker that my credit history is very new and I wanted to wait until next month for my cards to report one more month of history and for my recent Amex 3x CLI to $6k to report to the bureaus. She mentioned that debt to income ratio is taken into account, and I hadn't understood that it is your total available credit regardless of utilization, and the $4k extra available credit may affect the amount of credit Chase may extend to me if approved. I told her I would think about it and come back and apply. I need your help credit experts!

My AAoA is very low, but in spite of my limited history, I have a good history. Always PIF, low utilization. What is better? Apply now without higher debt to income ratio, or apply next month with higher available credit (and thus debt to income) but another month of history reporting? I know I may need to recon either way. Here is a snapshot of my situation:

Capital One Secured, $500: July 2014 ($0 bal reported as of now)

Capital One Quicksilver One, $500: February 2015 ($30 bal reported as of now)

Amex Everyday, $6000: February 2015 (recent CLI, $2000 CL reported as of now) ($0 bal reported as of now)

Discover It, $1250: February 2015 ($34 bal reported as of now)

CCB Overstock Store Card (soft pull app), $2400: March 2015 ($0 bal reported)

TU: 7 inquiries, 4 recent, 715 FICO as of this month

EQ: 3 inquires, all recent

EX: 4 or 5 inquires (not sure)

No lates or baddies.

Roughly $33k income, $6k in Chase savings (which will come in handy if a recon is needed), verified pre-approval.

Should I pull the trigger now, or wait for that extra month to barely increase my tiny AAoA? :-)

Re: Chase pre-approval in branch! App now, or later?

uswala — Wed, 29 Apr 2015 02:34:48 GMT

From what my banker at Chase has told me I would say you are good to go. The offers they see are usually rock solid. But then no guarantee!

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 02:36:52 GMT

@Anonymous wrote:
I have been planning on applying for a Chase Freedom card next month. I've been banking with Chase for around 2 years, and have regular direct deposits and cash deposits from two jobs and regular transfers to savings. I went to deposit cash tips from my second job and was told by the teller I was pre-approved for a credit card. I asked which and she directed me to a banker, who showed me on her screen that I was pre-approved for the Chase Freedom and Slate.

I explained to the banker that my credit history is very new and I wanted to wait until next month for my cards to report one more month of history and for my recent Amex 3x CLI to $6k to report to the bureaus. She mentioned that debt to income ratio is taken into account, and I hadn't understood that it is your total available credit regardless of utilization, and the $4k extra available credit may affect the amount of credit Chase may extend to me if approved. I told her I would think about it and come back and apply. I need your help credit experts!

My AAoA is very low, but in spite of my limited history, I have a good history. Always PIF, low utilization. What is better? Apply now without higher debt to income ratio, or apply next month with higher available credit (and thus debt to income) but another month of history reporting? I know I may need to recon either way. Here is a snapshot of my situation:

Capital One Secured, $500: July 2014 ($0 bal reported as of now)

Capital One Quicksilver One, $500: February 2015 ($30 bal reported as of now)

Amex Everyday, $6000: February 2015 (recent CLI, $2000 CL reported as of now) ($0 bal reported as of now)

Discover It, $1250: February 2015 ($34 bal reported as of now)

CCB Overstock Store Card (soft pull app), $2400: March 2015 ($0 bal reported)

TU: 7 inquiries, 4 recent, 715 FICO as of this month
EQ: 3 inquires, all recent
EX: 4 or 5 inquires (not sure)

No lates or baddies.

Roughly $33k income, $6k in Chase savings (which will come in handy if a recon is needed), verified pre-approval.

Should I pull the trigger now, or wait for that extra month to barely increase my tiny AAoA? :-)

Pull the trigger. The pre-approvals are solid, plus AAoA isn't a top priority for Chase. They look at a lot of other things.

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 02:39:48 GMT

I've heard Chase offers are pretty solid, yeah... And I do suppose one month would only give me a negligible increase in AAoA with so many new accounts. I guess I was just hoping to get some reassurances from some of my fellow credit nerds who are more seasoned! Thanks folks.

Re: Chase pre-approval in branch! App now, or later?

taxi818 — Wed, 29 Apr 2015 02:41:20 GMT

Yes. what you see on your computer at home is the same thing they see. does not matter. if you got the offer from chase it is solid. as it took me 6 months to finally get a offer. only because of all the other new accounts. in fact. it would be better to apply now before all the other stuff actually hits your account. as they are new account sensitive. my card is finally on the way after almost 2 weeks of bs thru their verification dept. and that is due to the old fax machine technology they use. other than that. i have no issues with em so far.

this will be the building block to getting one of the more premier cards from them. but for now. freedom will do. good luck. in what ever you decide. but get em while the getting is hot. and when they say debt to income it is true. as my banker did not look at total available. they looked at which ones out of my accounts i had balances. he added them all up. the mimimum payments that is and came up with a monthly figure .6 accounts with balances. was about 180 per month is what he said. and based everything of that obligation. not the fact that i have 18 accounts. if 12 had 0 balance so they did not count that as obligation. good luck in any case.

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 02:44:59 GMT

@Anonymous wrote:
I've heard Chase offers are pretty solid, yeah... And I do suppose one month would only give me a negligible increase in AAoA with so many new accounts. I guess I was just hoping to get some reassurances from some of my fellow credit nerds who are more seasoned! Thanks folks.

Good, apply NOW and report back with results. We are waiting

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 02:46:40 GMT

Go for it! Chase is easily my favorite bank

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 03:18:52 GMT

Okay folks, I feel confident enough now! So now my question is, right NOW online, or in person in the branch tomorrow morning? Does that make any difference? And if I get approved instantly, I might get the Slate just for that free Experian FICO, hopefully on the same HP.

Re: Chase pre-approval in branch! App now, or later?

taxi818 — Wed, 29 Apr 2015 03:21:57 GMT

@Anonymous wrote:
Okay folks, I feel confident enough now! So now my question is, right NOW online, or in person in the branch tomorrow morning? Does that make any difference? And if I get approved instantly, I might get the Slate just for that free Experian FICO, hopefully on the same HP.

after dealing with chase last 2 weeks. im gonna venture and say it is rare they instant approve. but it does happen. most of the time you will get message and it is verification.

They will either ask a couple of questions. to make sure it is you.

or do like they did to me who have no account with their bank. and make you send in Driver license. in any case you will be approved 99 percent of time if you got pre approval. online now or in branch makes no difference. as they will simply do it on line for you. you will see them typing on their computer all you info. best to just go to pre approval site from your home. look at it. then apply there. its not like you will get anything special for doing it inside of bank.

Re: Chase pre-approval in branch! App now, or later?

uswala — Wed, 29 Apr 2015 03:24:02 GMT

@Anonymous wrote:
Okay folks, I feel confident enough now! So now my question is, right NOW online, or in person in the branch tomorrow morning? Does that make any difference? And if I get approved instantly, I might get the Slate just for that free Experian FICO, hopefully on the same HP.

I do not think online or bank matters. The only thing that can be different in bank is that they might need some documents for verification (as Chase has been doing this a lot recently). But then if they do you can always visit a bank following your online app.

I think you can very well try one card after another. I think they use same HPs (they usually double pull) if you apply within a short period, usually within same day. But YMMV.

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 03:24:15 GMT

The thing is, I don't get any pre approved offers online myself. The banker showed me something from her own internal system.

Re: Chase pre-approval in branch! App now, or later?

uswala — Wed, 29 Apr 2015 03:25:37 GMT

@Anonymous wrote:
The thing is, I don't get any pre approved offers online myself. The banker showed me something from her own internal system.

That is weird. Are you sure you are putting in the details exactly as they appear on your CRs?

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 03:27:04 GMT

@uswala wrote:
@Anonymous wrote:
The thing is, I don't get any pre approved offers online myself. The banker showed me something from her own internal system.
That is weird. Are you sure you are putting in the details exactly as they appear on your CRs?

Agreed.. Very weird. If the banker can see it, you should also see it.

Re: Chase pre-approval in branch! App now, or later?

taxi818 — Wed, 29 Apr 2015 03:31:36 GMT

@Anonymous wrote:
@uswala wrote:
@Anonymous wrote:
The thing is, I don't get any pre approved offers online myself. The banker showed me something from her own internal system.
That is weird. Are you sure you are putting in the details exactly as they appear on your CRs?
Agreed.. Very weird. If the banker can see it, you should also see it.

agreed. make sure every detail is correct. even in address. if it says street. ave blvd. etc...... then you should see what they are seeing. if not. then yes. by all means go to the bank to apply with what they are seeing.

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 03:38:07 GMT

@Anonymous wrote:
The thing is, I don't get any pre approved offers online myself. The banker showed me something from her own internal system.

Also, be very careful just taking the bankers word for it. Did the banker show you the screen for you to see it with your own eyes that you are pre-approved? If you are not seeing it on your side, then don't proceed.

Unless of course the banker was casually saying it so that you can "attempt it with him/her"? Just weird you can't see it from your side.

Re: Chase pre-approval in branch! App now, or later?

newhis — Wed, 29 Apr 2015 03:46:55 GMT

@uswala wrote:
@Anonymous wrote:
The thing is, I don't get any pre approved offers online myself. The banker showed me something from her own internal system.
That is weird. Are you sure you are putting in the details exactly as they appear on your CRs?

I never get online pre approvals from Chase. Last November my banker told me that I had an offer for a card, I said I'll return because I was in a hurry. Went online and nothing. Return after a few days and she told me that the offer was for Freedom. I got approved for $3,500, my highest limit at the time.

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 04:22:10 GMT

I saw it with my own eyes, computer screen turned towards me. My name, underneath it drop down box with Freedom ($100 Bonus), and Slate. No other cards. I enter my info exactly as I entered it on all my other apps when checking the pre approvals online and get no offers.

Re: Chase pre-approval in branch! App now, or later?

uswala — Wed, 29 Apr 2015 04:23:24 GMT

@Anonymous wrote:
I saw it with my own eyes, computer screen turned towards me. My name, underneath it drop down box with Freedom ($100 Bonus), and Slate. No other cards. I enter my info exactly as I entered it on all my other apps when checking the pre approvals online and get no offers.

In that case, I would suggest applying in bank with the help of your banker.

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 04:25:32 GMT

Also, she said she doesn't see pre-approvals like that and doubts it would be denied. At this point I'm just going to the bank in the morning and going for it. I think in person in branch app'ing and some cash in savings might help a tiny bit if I need to recon. I'll post my results tomorrow!

Re: Chase pre-approval in branch! App now, or later?

Anonymous — Wed, 29 Apr 2015 04:26:51 GMT

Correction, she said she doesn't see them *often*, but it does indeed happen. So as weird as it is getting pre-approved with such minimal history, I'm going for it! Wish me luck!