topic Re: Are the chances good? Considering apping... in Credit Card Applications

Update: APPROVED! Applied for Chase Freedom!

Anonymous — Fri, 18 Jan 2019 17:28:09 GMT

I'm helping my brother establish credit. He has a very thin profile so far. He has 2 credit cards and 1 auto loan reporting on his reports. That is all. We narrowed it down to the Chase Freedom or Citi DC to build his foundation. He would have use for both cards. We did prequal for Chase and Citi, but nothing came up. His CR were frozen and he just did a temporary lift yesterday. Maybe that's why there weren't any prequals? We checked for prequal after the freeze lift btw. Does he have a chance doing cold apps with either Chase or Citi? Should he wait until there are prequals available before he applies? Can he apply for both or break up apps 6 months apart? Below are his DP. Please ask if there is any other information you need to determine his chances of approval. Thanks for all your help!

Age: 28
Auto loan: Joint; Paid 61% of the original amount
Discover: $2/$5,800
Amex BCE: $0/$18,000
TU FICO 8: 790
EX FICO 8: 776
CK TU: 754
CK EQ: 754
INQ: TU - 0, EQ - 2, EX - 0 (last 12 months)
AoOA: 1 year 10 months (Discover)
AoYA: 1 year 1 month (AMEX BCE)
AAoA: 1 year 7 months
Revolving utilization: less than 1%
Missed payments: 0
Derogs/Collections: 0
5/24 Rule: 2/24 (not including auto loan)

Re: Are the chances good? Considering apping...

Remedios — Thu, 27 Dec 2018 14:51:20 GMT

I think his chances for both cards are pretty good.
I'd space apps 3-6 months apart, with Chase being first. Cold app is fine, prequal is not a guarantee anyway.

Re: Are the chances good? Considering apping...

Eagered2succeed — Thu, 27 Dec 2018 14:58:28 GMT

Agree with above. Definitely apply with chase first. Although I doubt he will have to recon it would be easy as chase likes to see 6 months to a year of credit age. Good luck look foward to approval story in the approval section of this forum 😁.

Re: Are the chances good? Considering apping...

Priory_Man — Thu, 27 Dec 2018 16:13:14 GMT

I honestly cannot see any reason Chase or Citi would not give him the card he is looking for.
As has been mentioned space the apps, go for the Chase card first.

Re: Are the chances good? Considering apping...

Anonymous — Thu, 27 Dec 2018 18:42:40 GMT

Thank you all for reviewing his DP and suggesting how to proceed!

So he went ahead and applied for the Chase Freedom. No instant approval, unfortunately. Got a message stating the following:

"Thank you for your request. We need to review your request a little longer. We will let you know of our decision as soon as possible. Thank you for choosing the Chase Freedom Credit Card."

Does anyone know what the outcome typically could be? Should he call a backdoor number or wait it out?

Re: Are the chances good? Considering apping...

Remedios — Thu, 27 Dec 2018 18:52:40 GMT

Wait it out, dont try talking to humans unless it's denied

He can use the automated line to check status 800-524-3880

Re: Are the chances good? Considering apping...

Anonymous — Thu, 27 Dec 2018 19:08:21 GMT

So he called the automated status line. He told me it said "You'll be notified in writing of our decision within 30 days of us receiving your application."

Is there a chance?

Re: Are the chances good? Considering apping...

Remedios — Thu, 27 Dec 2018 19:12:41 GMT

@Anonymous wrote:
So he called the automated status line. He told me it said "You'll be notified in writing of our decision within 30 days of us receiving your application."

Is there a chance?

Yes. I think he will be approved

Sometimes it takes them a day, sometimes a few weeks

It's probably verification, they are not shy about auto denials.

Re: Are the chances good? Considering apping...

Anonymous — Thu, 27 Dec 2018 19:29:39 GMT

Thanks for walking us through this process!

You think he should call and talk to a human in case it's for verification?

Re: Are the chances good? Considering apping...

Remedios — Thu, 27 Dec 2018 19:45:50 GMT

@Anonymous wrote:
Thanks for walking us through this process!

You think he should call and talk to a human in case it's for verification?

If he wants to call and ask if something else is needed from him, he can

I'd still let the process play itself, but that's just me

I got transferred to underwriter once (I thought it was verification, it was not), and it was like a really bad blind date that turned into interrogation.

If he's that impatient, call.

Re: Are the chances good? Considering apping...

Anonymous — Fri, 28 Dec 2018 01:05:52 GMT

Let us know what happens!! I think he has a Great chance at getting the Chase Card they may just want verification that’s all. Now you play the waiting game

Re: Are the chances good? Considering apping...

Anonymous — Sun, 30 Dec 2018 17:31:31 GMT

So he got a little impatient and decided to call yesterday (2 days after apping). Spoke to a representative, who asked him some questions (name, SS#, address, etc.) to pull up his application. The representative then put him on hold as he told him he needs to connect him to the lending department. He then came back after a couple minutes and said "nevermind sir, you'll need to call back on Monday and speak to the verification department as they're closed on the weekends."

That's the update I have so far. Will keep you all posted after he calls the verification department tomorrow.

Re: Are the chances good? Considering apping...

Anonymous — Mon, 31 Dec 2018 06:47:08 GMT

@Anonymous wrote:
So he got a little impatient and decided to call yesterday (2 days after apping). Spoke to a representative, who asked him some questions (name, SS#, address, etc.) to pull up his application. The representative then put him on hold as he told him he needs to connect him to the lending department. He then came back after a couple minutes and said "nevermind sir, you'll need to call back on Monday and speak to the verification department as they're closed on the weekends."

That's the update I have so far. Will keep you all posted after he calls the verification department tomorrow.

Wonder if they work NYE ? GL to your brother!

Re: Are the chances good? Considering apping...

Anonymous — Wed, 02 Jan 2019 21:51:55 GMT

Today's update:

So he called the verification department today. They sent him a text message to confirm it's him. They then put him on hold to process the application. The representative then came back and said he'll receive a letter in the mail requesting some further information from him. He'll need to either mail, fax, or bring the document to a Chase branch, filled out. He'll then either receive the card or denial letter in the mail 1-2 weeks after submission of the document.

Anyone with experience, what could they be further requesting from him? Is this a formality? What's the best route to submit the document? Maybe personally drop it off at a local Chase branch so they know it's him?

He thinks his chances of approval are getting slimmer.

Thanks for all your responses and help!

Re: Are the chances good? Considering apping...

Anonymous — Thu, 03 Jan 2019 16:35:04 GMT

This is the message the robo lady is giving now.

"Thank you for applying. Your application is being reviewed. You will be notified in writing within 7-10 business days of our decision."

Re: Are the chances good? Considering apping...

Anonymous — Thu, 03 Jan 2019 16:41:17 GMT

I think it’s just a formality. I did the same thing and they were able to verify over the phone. He has a thinner file than me so I suspect they just need more of his info.

Re: Are the chances good? Considering apping...

Anonymous — Sun, 06 Jan 2019 08:11:04 GMT

Did he get any response yet?

Re: Are the chances good? Considering apping...

Anonymous — Sun, 06 Jan 2019 15:26:48 GMT

@Syrdi Still awaiting correspondence via snailmail. Although he submitted app on December 27th, it didn't get processed until January 2 because that's when he verification/fraud department were back to normal business hours. His application is in the verification/fraud department, that's for sure. He called to check status a couple times and that's where they kept transferring him. On his last call, the representative did ask him if he'd like them to put a note in to expedite the review process. I guess all he can do is wait for the correspondence to proceed further. They're probably requesting DL, SSN, and POI from what I've researched on this board.

Will keep you all posted.

Re: Are the chances good? Considering apping...

Anonymous — Tue, 08 Jan 2019 21:40:20 GMT

So he finally received correspondence from Chase today. They're unable to identify him. They asked he fill out Form SSA-89 and mail/fax back to Chase. It's odd since he has credit history dating back almost 2 years.

1. He did not put his middle name on the application. It does state his middle name on his SS card. Could that be the reason they're unable to identify him?

2. For those who had to submit this form in the past, will this result in another hard pull?

Re: Are the chances good? Considering apping...

FinStar — Tue, 08 Jan 2019 22:09:44 GMT

There should not be any additional HP.

That being said, have your brother visit the nearest Chase branch to get those documents imaged/faxed. This should hopefully expedite the process some.

Just need to temper your expectations whenever any verification instances like these occur. Patience is key.