topic Re: Yet another 5/24 Question in Credit Card Applications

Yet another 5/24 Question

Anonymous — Wed, 25 Jan 2017 19:07:24 GMT

Hey Guys,

I was wondering if anyone knew why Chase would pull 2 reports if the first was over 5/24? In my case, I'm at the 5/24 threshold, app'd for the FU 1/24/17. Got a myFico alert saying there was a new inquiry on my EX for 1/24 and today a new alert of an inquiry on EQ. I got the "7-10 days" message when I called the automated line....

Sorry if this has been asked before, but I wasn't able to come up with much from searching.

Re: Yet another 5/24 Question

fltireguy — Wed, 25 Jan 2017 19:12:07 GMT

Chase has been known to double pull.... It's nothing new for them at all

Re: Yet another 5/24 Question

AverageJoesCredit — Wed, 25 Jan 2017 19:54:08 GMT

+1 fltireguy, the ubiquitous double pull

Re: Yet another 5/24 Question

Anonymous — Wed, 25 Jan 2017 21:56:07 GMT

I would figure both pulls happen about at the same time?! Not necessarily pulling one, looking, then pulling another

Re: Yet another 5/24 Question

Anonymous — Wed, 25 Jan 2017 22:31:40 GMT

With the 5/24 "rule" (more of a guideline since many have been approved with 10/24+) does the 5 mean no more than or less than? What I mean is can you already be at 5/24 when you apply, or is it recommended that you be at 4/24 when you apply?

Re: Yet another 5/24 Question

Anonymous — Wed, 25 Jan 2017 22:35:09 GMT

"What I mean is can you already be at 5/24 when you apply, or is it recommended that you be at 4/24 when you apply"

I've always wondered that also. ..

Re: Yet another 5/24 Question

Anonymous — Wed, 25 Jan 2017 23:04:55 GMT

The rule is 5 or more, as I've witnessed.

Not "more than 5".

Re: Yet another 5/24 Question

Anonymous — Wed, 25 Jan 2017 23:18:58 GMT

Chase pulled both EQ and EX for each of my cards with them.

Re: Yet another 5/24 Question

Anonymous — Thu, 26 Jan 2017 00:16:07 GMT

@Anonymous wrote:
Chase pulled both EQ and EX for each of my cards with them.

I read somewhere that Chase uses some "internal scoring model" - does anyone have any feedback on this? Obviously they still pull from a bureau or bureaus, but is that data put into something unique to Chase that yields a score that may be different than what we would expect them to see?

Re: Yet another 5/24 Question

Meanmchine — Thu, 26 Jan 2017 05:39:43 GMT

I dont mind a double pull but what is concerning is when you are on their Blacklist and they supposidly still double pull you Thats the only reason I havnt apped with

Chase I wuld hate ti appa d get dowble pull just ti be bkacklisted

Re: Yet another 5/24 Question

Anonymous — Thu, 26 Jan 2017 13:54:24 GMT

I read somewhere that Chase uses some "internal scoring model" - does anyone have any feedback on this? Obviously they still pull from a bureau or bureaus, but is that data put into something unique to Chase that yields a score that may be different than what we would expect them to see?

They do have ttheir own internal scoring, along with the data they pull from credit reports. I don't know that many details are known, other than that they do some internal scoring on their own. I do know for sure that they have a LONG memory. I was approved last year for Freedom, but when taliking to one of their CSRs he mentioned a previous account I had with them. It actually wasn't with Chase, but a company they bought out that I had included in BK 14 years ago. I would imagine part of their internal scoring includes things like that in their memory.

Re: Yet another 5/24 Question

Anonymous — Thu, 26 Jan 2017 17:32:21 GMT

BBS,

From what I understand, they use a CARS Score. Credit acquisition risk score. I believe it goes higher than 850. My first card, I swear they scored me higher. My last approval, the score was pretty spot on to what I saw on myfico at the time. I called and spoke to someone about it at that time, they really didn't have much info, got xfered around. Didn't get much info, but it's fine. Not sure it's really going to be all that different.

Re: Yet another 5/24 Question

Anonymous — Thu, 26 Jan 2017 20:20:54 GMT

Interesting. So, unlike most other creditors, you really go into a Chase app not knowing what type of score they'll have on you. For my OCD type personality, not knowing is bothersome

Re: Yet another 5/24 Question

Schwartzinator — Sat, 28 Jan 2017 16:55:46 GMT

I was approved last week for the fairmont, and thier letter noted an internal risk score of 721. Before the application, my fico scores ranged from 742 up to 767.

Re: Yet another 5/24 Question

Anonymous — Sat, 28 Jan 2017 17:46:04 GMT

Yeah I wish the risk scores and something like that would be on a scale that is completely different from FICO scores that way no one gets confused. It's the same story with Comenity Bank you can have a 520 Com Bank, score 720 real FICO score. 520 with no baddies is like shoot yourself youve done everything wrong. Lol

Re: Yet another 5/24 Question

Anonymous — Sat, 04 Mar 2017 18:24:14 GMT

Every approval or denial I have ever received from Chase states that their scoring model is proprietary and that it ranges from 250-900 I think. They always pull Experian for me also and I'm in Southern California.