topic Re: Chase Ritz Approval Odds? in Credit Card Applications

Chase Ritz Approval Odds?

Anonymous — Wed, 05 Oct 2016 18:13:32 GMT

*** UPDATE 10/05/2016 ***

Started this thread when I was thinking about applying for the Ritz-Carlton Rewards Card. When I applied, the app went pending without Chase ever pulling my credit. There's a lot of good info and data points in the following posts, especially if you have a high number of new accounts & inquiries and how Chase seems to be handling Ritz Applications.

My approval ended up being $20,000 SL @ 16.24%

Stats at time of approval:

FICO 8 | EX 693 | EQ 693 | TU 710 - INQ's - EX 5 | EQ 10 | TU 4...12+ new accounts reporting on all 3 bureaus and 5% utilization

Feel Free to add on to the thread, post questions or more data points if you are approved.

********************************************************************************************************************

Looking at Chase Ritz Infinite, would like to apply soon. This will be my last card for the next 12 months. I've read lots of posts but interested in outside opinions.

Data Points: (EQ is Iced)

Experian

FICO 08: 692

INQs: 5 total / 1 in last 90 days

AAoA: 1.7 years

Util: 5%

Neg: 2 SL Trade Lines late 21 mths ago

LOTS of new accounts in last 12 months. / 1 new account in 90 days (BofA Cash Rewards)

TransUnion

FICO 08: 710

INQs: 4 total

AAoA: 1.6 years

Util: 5%

Neg: 2 OLD Tax Liens from 2010

LOTS of new accounts in last 12 months. / 1 new account in 90 days (BofA Cash Rewards)

Was Approved for CSP on 5/3 with SL $5000. Received an AUTO CLI after 3rd Statement to $10,000. Ran $12k dollars thru card and PIF multiple times per cycle.

Re: Chase Ritz Approval Odds?

Anonymous — Thu, 29 Sep 2016 17:31:35 GMT

Based on the stats. you do stand a chance of getting approved. Chase relies heavily on their internal scores and since you already have a Chase card, that is going to play a big role in the decision.

Apply with confidence and report back with results if you do go ahead.

Re: Chase Ritz Approval Odds?

Anonymous — Fri, 30 Sep 2016 03:51:40 GMT

@Anonymous wrote:
Based on the stats. you do stand a chance of getting approved. Chase relies heavily on their internal scores and since you already have a Chase card, that is going to play a big role in the decision.

Apply with confidence and report back with results if you do go ahead.

Really tempted to go ahead and do it today. But I should get around a 10 point bump on my EX score on Oct 1st (Friday) as the SL Negs age another month...that would put both available reports at 700. Don't know if that's gonna be a significant difference, but in my head it is lol

Re: Chase Ritz Approval Odds?

Anonymous — Thu, 29 Sep 2016 17:45:49 GMT

@Anonymous wrote:
@Anonymous wrote:
Based on the stats. you do stand a chance of getting approved. Chase relies heavily on their internal scores and since you already have a Chase card, that is going to play a big role in the decision.

Apply with confidence and report back with results if you do go ahead.
Really tempted to go ahead and do it today. But I should get around a 10 point bump on my EX score on Oct 1st (Friday) as the SL Negs age another month...that would put both avaiable reports at 700. Don't know if that's gonna be a significant difference, but in my head it is lol

Don't do it today based on the info. you provided. Wait it out. The credit game is all about strategy, strategy, strategy.

Re: Chase Ritz Approval Odds?

Anonymous — Thu, 29 Sep 2016 17:47:45 GMT

...correction Oct 1st (Saturday) ....two more days

Re: Chase Ritz Approval Odds?

CreditCuriosity — Thu, 29 Sep 2016 18:03:42 GMT

Good luck as YIM stated you have a good chance and since you have a relationship with them already you are pretty well off. They pulled EQ for me, but they could pull any of the three. Best of luck when you do apply and let us know the results, but wait for Exp to update as you never know who they are going to pull.. More than likely it will be an EX/EQ pull..

Re: Chase Ritz Approval Odds?

Anonymous — Thu, 29 Sep 2016 19:41:31 GMT

@CreditCuriousity wrote:
Good luck as YIM stated you have a good chance and since you have a relationship with them already you are pretty well off. They pulled EQ for me, but they could pull any of the three. Best of luck when you do apply and let us know the results, but wait for Exp to update as you never know who they are going to pull.. More than likely it will be an EX/EQ pull..

Thanks! They pulled EX/EQ for the CSP, but figured if they need to hard pull a 2nd bureau for the app besides EX. I can probably get them to pull TU bc EQ is on ice right now...seems about a 50/50 split with single/double pull(s) and 50/50 on EQ vs TU for that 2nd pull. Chase does soft pull all of them on a pretty regular basis (looking at my AR/PRM inquiries. So they know what's there anyways.

Re: Chase Ritz Approval Odds?

Anonymous — Thu, 29 Sep 2016 23:37:12 GMT

I'd wait the 2 days. But you should be approved since Ritz is not 5/24.

Re: Chase Ritz Approval Odds?

Anonymous — Fri, 30 Sep 2016 21:12:14 GMT

Definitely appreciate the feedback! Just waiting it out now. Looking at other post(s) if you are approved, the minimum credit line is $10,000 since the new card & benefites are all based on the Visa Infinite.

Is this correct? I guess that's the only thing that is giving me pause bc Chase would be doubling their exposure with me. Again, last app for at least a year. I have 4 small Comentiy Cards that I don't need (really should never have apped for them) and will be closing at least 2 of the 4 this weekend. If I'm approved for the Ritz. I'll be closing the other 2 as well. Not worried about UTIL% because all 4 combined are $11,000. That should reduce my total number of accounts "open" to a little bit more reasonable number (IMO).

One last data point, just paid off my $1200 balance on the CSP so tomorrow when I app it will be at $0.

Re: Chase Ritz Approval Odds?

Anonymous — Sat, 01 Oct 2016 11:28:24 GMT

Well, didn't get the bump I was expecting on EX, but still cleanest report...so submitted app. No instant approval went to futher review. Called automated status line and it says 2 weeks.

Re: Chase Ritz Approval Odds?

elim — Sat, 01 Oct 2016 12:18:55 GMT

My stats are very similar to yours. Including a 13.6k 2010 fed tax lien on all 3. RC was my 4th Chase card at the time and almost doubled my exposure with them

My guess is you will get the card and have a limit higher than 10k. GL :]

Re: Chase Ritz Approval Odds?

Anonymous — Sat, 01 Oct 2016 12:32:52 GMT

Thanks @elim , kinda down lol . I really shouldn't be. Been on a huge role this year all kinds of crazy recon success and increases. Chase App status Automated Message says "You will be notified in writing of our decision within two weeks"

Re: Chase Ritz Approval Odds?

CreditCuriosity — Sat, 01 Oct 2016 15:57:45 GMT

@Anonymous wrote:
@Anonymous @elim , kinda down lol . I really shouldn't be. Been on a huge role this year all kinds of crazy recon success and increases. Chase App status Automated Message says "You will be notified in writing of our decision within two weeks"

Whatever you do don't call UW/Recon or anything and speak to a live person.. Two weeks is a positive message and usually yields an approval. Just call every few days to check the status through automated status line and you should be good and get an approval.. Best of luck and keep us updated.

Re: Chase Ritz Approval Odds?

Anonymous — Sat, 01 Oct 2016 18:17:11 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
@Anonymous @elim , kinda down lol . I really shouldn't be. Been on a huge role this year all kinds of crazy recon success and increases. Chase App status Automated Message says "You will be notified in writing of our decision within two weeks"
Whatever you do don't call UW/Recon or anything and speak to a live person.. Two weeks is a positive message and usually yields an approval. Just call every few days to check the status through automated status line and you should be good and get an approval. Best of luck and keep us updated.

This advice that CC provides has been helpful to me since I successfully landed my first Chase card ( I now have three Chase cards). Wise words.

Re: Chase Ritz Approval Odds?

Anonymous — Sat, 01 Oct 2016 19:40:55 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
@Anonymous @elim , kinda down lol . I really shouldn't be. Been on a huge role this year all kinds of crazy recon success and increases. Chase App status Automated Message says "You will be notified in writing of our decision within two weeks"
Whatever you do don't call UW/Recon or anything and speak to a live person.. Two weeks is a positive message and usually yields an approval. Just call every few days to check the status through automated status line and you should be good and get an approval.. Best of luck and keep us updated.

I'm obsessed have App Status Automated Line saved in my phone. I had EQUIFAX Locked (I subscribe to their prem monitoring service) do you think that's what thru it into review? No HP notifications from CCT for Experian Report yet.

Oh, and NO emails from Chase yet either

Re: Chase Ritz Approval Odds?

Anonymous — Sun, 02 Oct 2016 11:17:48 GMT

Weirdest thing....no hard pulls from Chase recorded yet, just pulled all three 3 reports myself?

Re: Chase Ritz Approval Odds?

Anonymous — Sun, 02 Oct 2016 15:57:38 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
@Anonymous @elim , kinda down lol . I really shouldn't be. Been on a huge role this year all kinds of crazy recon success and increases. Chase App status Automated Message says "You will be notified in writing of our decision within two weeks"
Whatever you do don't call UW/Recon or anything and speak to a live person.. Two weeks is a positive message and usually yields an approval. Just call every few days to check the status through automated status line and you should be good and get an approval.. Best of luck and keep us updated.

@CreditCuriousity - do you think it's verification and that's why there has been no hard pull yet?

Re: Chase Ritz Approval Odds?

CreditCuriosity — Sun, 02 Oct 2016 20:58:06 GMT

@Anonymous wrote:
@CreditCuriousity wrote:
@Anonymous wrote:
@Anonymous @elim , kinda down lol . I really shouldn't be. Been on a huge role this year all kinds of crazy recon success and increases. Chase App status Automated Message says "You will be notified in writing of our decision within two weeks"
Whatever you do don't call UW/Recon or anything and speak to a live person.. Two weeks is a positive message and usually yields an approval. Just call every few days to check the status through automated status line and you should be good and get an approval.. Best of luck and keep us updated.
@CreditCuriousity - do you think it's verification and that's why there has been no hard pull yet?

NO HP's? They might of tried to go after your loked EQ report... Do you still have a two week message or 7-10 day on automated phone system?

Re: Chase Ritz Approval Odds?

Anonymous — Sun, 02 Oct 2016 22:17:50 GMT

CreditCuriousity wrote:

NO HP's? They might of tried to go after your loked EQ report... Do you still have a two week message or 7-10 day on automated phone system?

Still two week message on automated phone system, just called and checked again...That would be a bit out of the ordinary for them to only pull EQ.

Edit: Also just closed all 4 of the Comenity Cards I mentioned earlier after reading Rockstar87's horror story of AA from Chase. Granted no two profiles are alike, but figured it wouldn't hurt if something came up about how many accounts I have and I could show that I closed 4 accounts at my request. Comentiy faxed letters confirming the accounts were closed immediately.

Re: Chase Ritz Approval Odds?

Anonymous — Sun, 02 Oct 2016 23:10:21 GMT

I applied about 3 weeks ago and received the same we need more time to review your app. I called the status line last night for the first time and it said I was approved with a SL of $10k and should receive the card in 7-10 days. I was convinced it was going to be a denial. Hang in there OP and let it run its course. I have 8 new accounts showing on my reports and about 10 inquiries.