topic Re: Approved for InstaCart Chase Card $12,000 SL in Credit Card Approvals

Approved for InstaCart Chase Card $12,000 SL

BenConrad — Wed, 08 Feb 2023 18:43:18 GMT

They pulled Experian (694). Did not approve instantly on the InstaCart site. Got a message that they would contact me.

Went to Experian and pulled my daily report and saw that they did a HP so I called the number listed. They said that they just wanted to be sure that it was me that applied (?!) and then said "congrats you are approved for a $12K CL"

4th approval in 3 days.... maybe time to slow down!

Re: Approved for InstaCart Chase Card $12,000 SL

bigseegar — Wed, 08 Feb 2023 19:58:50 GMT

Congrats but cross your fingers it sticks and that Chase doesn't take AA. They don't like credit sprees and they especially aren't going to like that 4 cards in only 3 days when they see it. Good luck and for sure stop and garden for at least 6 months to a year now.

Re: Approved for InstaCart Chase Card $12,000 SL

JoeRockhead — Wed, 08 Feb 2023 20:24:06 GMT

Very nice SL, congratulations on your approval! And best of luck pumping those brakes

Re: Approved for InstaCart Chase Card $12,000 SL

cashorcharge — Wed, 08 Feb 2023 20:57:54 GMT

WooHoo!! Congratulations on your Chase Approval!!👏🏼🍾🥂

Re: Approved for InstaCart Chase Card $12,000 SL

CreditAggie — Wed, 08 Feb 2023 22:02:34 GMT

Congratulations on your Instacart approval!

Re: Approved for InstaCart Chase Card $12,000 SL

NoMoreDebt — Wed, 08 Feb 2023 23:02:05 GMT

Congrats. Hopefully Chase doesnt AA

Re: Approved for InstaCart Chase Card $12,000 SL

nytokyobred79 — Thu, 09 Feb 2023 00:25:08 GMT

Congrats on your approval and mini-spree. I just came off of a 2 app mini spree( 2 approvals, 2 denials including Chase). I've been with Chase over a year and have 2 cards with them. As others mentioned above, I'm also conscious that Chase could get spooked so I won't be app'ng for at least another year. And I'm going to keep my UTI across cards low until the dust settles.

Re: Approved for InstaCart Chase Card $12,000 SL

KingRue8500 — Thu, 09 Feb 2023 01:11:27 GMT

Congrats on your Chase Instacart approval

Re: Approved for InstaCart Chase Card $12,000 SL

Payroll_Dude — Thu, 09 Feb 2023 05:00:28 GMT

Nice card !

Re: Approved for InstaCart Chase Card $12,000 SL

BenConrad — Thu, 09 Feb 2023 20:02:06 GMT

@NoMoreDebt wrote:
Congrats. Hopefully Chase doesnt AA

@NoMoreDebt COULD THAT ACTUALLY HAPPEN? HOW AND WHEN WOULD THEY SEE THAT?

Re: Approved for InstaCart Chase Card $12,000 SL

BenConrad — Thu, 09 Feb 2023 20:06:07 GMT

@bigseegar wrote:
Congrats but cross your fingers it sticks and that Chase doesn't take AA. They don't like credit sprees and they especially aren't going to like that 4 cards in only 3 days when they see it. Good luck and for sure stop and garden for at least 6 months to a year now.

@bigseegar Could that actually happen!? How and when and why would they see that? And with AA--would they close the account or lower the CL? Is this something that is solely characteristic of Chase?

Re: Approved for InstaCart Chase Card $12,000 SL

Namaste7 — Fri, 10 Feb 2023 16:42:34 GMT

@BenConrad wrote:
@NoMoreDebt wrote:
Congrats. Hopefully Chase doesnt AA
@NoMoreDebt COULD THAT ACTUALLY HAPPEN? HOW AND WHEN WOULD THEY SEE THAT?

After you're approved for an account, the bank periodically performs account reviews, obtaining your credit report to assess credit risk/stability. There is no score impact when a bank obtains your credit report for an AR; however, the information can be used to modify (CLIs or CLDs) or close the account.

When you obtain the "free" credit report directly from each credit bureau, bank account reviews are shown in the same section as your soft pull and promotional inquiries. This will give you an idea of how frequently a creditor is monitoring your credit reports.

Re: Approved for InstaCart Chase Card $12,000 SL

BenConrad — Fri, 10 Feb 2023 17:51:31 GMT

@Anonymous thanks for this eduaction! Does that mean that I should lock all my reports to stop Chase or Synchrony, etc from obtaining details of my other new accounts, etc? If I am gardening for the next 6-12 months I wont need them. I am guessing though, that this will also deter CLI's and other offers--interested to know your take on this.

Re: Approved for InstaCart Chase Card $12,000 SL

GZG — Fri, 10 Feb 2023 17:57:15 GMT

@BenConrad wrote:
@Anonymousthanks for this eduaction! Does that mean that I should lock all my reports to stop Chase or Synchrony, etc from obtaining details of my other new accounts, etc? If I am gardening for the next 6-12 months I wont need them. I am guessing though, that this will also deter CLI's and other offers--interested to know your take on this.

as a borrower, you can't stop your creditors from soft-pulling your report and seeing all of your credit activity whenever they want to check up on you even if your lock/freeze your reports

What you should do now, is keep reported balances low, always pay in full and don't give the AI a reason to be scared you're not going to pay them back

Re: Approved for InstaCart Chase Card $12,000 SL

BenConrad — Fri, 10 Feb 2023 18:03:48 GMT

@GZG Thank you--great information!! What is "AI"? sorry--not on the list of Abreviations here!

Re: Approved for InstaCart Chase Card $12,000 SL

GZG — Fri, 10 Feb 2023 18:38:59 GMT

@BenConrad wrote:
@GZG Thank you--great information!! What is "AI"? sorry--not on the list of Abreviations here!

AI is basically a computer.

Chase is going to soft-pull your report automatically and have a computer analyze what it sees. If the computer sees something concerning, it's going to likely send that information to a human to see if they need to AA you, lower your limit, close your accountc etc.

If you have super low balances and pay all of your bills in full, you're more likely to not have the computer send your account to a human to review.

Re: Approved for InstaCart Chase Card $12,000 SL

Remedios — Sat, 11 Feb 2023 15:19:23 GMT

Super low balance won't keep you safe from AA, this type of closure isn't related to escalating debt.

I think you'll be fine as far as Chase goes. While they can decide to do AA at any point from now (based on lets-check-on-this-one SP) or within 90 days (secondary reviews is usually done within 90 days based on conditions set at approval), it's not as often as fairytales say it happens. It's also more likely to happen with Sapphire line and when applying for multiple Chase cards at the same time.

Besides, two of your new cards are already reporting.

I would be a whole lotta more worried about your Synchrony approvals.

In any case, nothing you can do about that now other than wait and see how it plays out. All the questions you're asking now are the questions that should be asked before attempting "spree"

Re: Approved for InstaCart Chase Card $12,000 SL

Namaste7 — Sat, 11 Feb 2023 20:13:11 GMT

@BenConrad wrote:
Does that mean that I should lock all my reports to stop Chase or Synchrony, etc from obtaining details of my other new accounts, etc?

As others noted, once you enter into a credit relationship with a financial institution, they have a right to obtain your credit reports and that right is not restricted whether you freeze or lock your reports.

@BenConrad wrote:
If I am gardening for the next 6-12 months I wont need them. I am guessing though, that this will also deter CLI's and other offers--interested to know your take on this.

One can never guess when you're in the clear, but seeking additional new accounts or CLI's in the next 12 months may look like aggressive credit seeking. I cannot tell you what number of accounts, inquiries or CLI requests would flag that; however, if you can afford to be conservative, nuture your current accounts and stay in the garden for as long as possible.

After a spree, I would not seek credit, in the form of new accounts or CLIs, for a minimum of 18 months and when utilization is under 10%.