topic Re: Chase Freedom Flex in Credit Card Applications

Chase Freedom Flex

mgood — Fri, 12 Feb 2021 23:21:35 GMT

Pending review. Do I call them or leave them alone?

Re: Chase Freedom Flex

Aim_High — Fri, 12 Feb 2021 22:32:39 GMT

Leave them alone. You're looking good so far!

The "30-day message" is standard for Chase and means they are processing your application.

The "Two-week" message is usually good news and a likely approval.

Where you may run into problems is the "7-10 day" message. But that doesn't always mean an impending denial. Sometimes, it's just fraud prevention wanting to verify identity or they may need more information or documentation.

Re: Chase Freedom Flex

mgood — Fri, 12 Feb 2021 22:36:07 GMT

I called and the 30 days changed to 2 weeks in the automated message.
Talked breifly to one person who transferred me to another person.
She has kept me on hold for a long time. Came back on the line a couple times to verify address and such.
I think they've been looking at it too long for it to be an outright "no."

Re: Chase Freedom Flex

mgood — Fri, 12 Feb 2021 22:38:46 GMT

And while I'm sitting here on hold, I got a notification from Experian that "JPMCB CARD SERVICES got a copy of your Experian Credit Report."

Re: Chase Freedom Flex

mgood — Fri, 12 Feb 2021 22:42:50 GMT

Aaaand, DECLINED.

Too recent since account openings.

Too many inquiries.

Too much credit?

Balances? (My UTL is 11%)

Re: Chase Freedom Flex

SouthJamaica — Fri, 12 Feb 2021 23:11:15 GMT

@mgood wrote:
Aaaand, DECLINED.
Too recent since account openings.
Too many inquiries.
Too much credit?
Balances? (My UTL is 11%)

Sorry.

It's my understanding that

- the "30-day" thing is neutral

- when it switches to "2 weeks" that's bad

-when it switches to "7 to 10 days" that's good

- it's always better not to call them..... to just let it play out

Re: Chase Freedom Flex

FinStar — Fri, 12 Feb 2021 23:23:11 GMT

@mgood wrote:
Aaaand, DECLINED.
Too recent since account openings.
Too many inquiries.
Too much credit?
Balances? (My UTL is 11%)

Well, at least you called and got it out of the way 👍

Re: Chase Freedom Flex

Aim_High — Fri, 12 Feb 2021 23:26:35 GMT

Awww, mannn .... sorry to hear that @mgood.

Data points for us? Denial data points are very worthwhile too.

How many inquiries and new accounts in 6 months, 12 months, 24 months?

Re: Chase Freedom Flex

mgood — Fri, 12 Feb 2021 23:51:57 GMT

3 new accounts in the last 6 months. So 3/6, 3/12, 3/24.
Not sure on inquires. There was a denial back there for another card, and I was trying unsuccessfully at the time, to get approved for a car loan in the early/middle part of last year. Bunch of inquiries for that that should be seen as 1 since they're all for the same purchase, but maybe they're 1 and maybe they're a lot more than that, depending on how they read it.
My Experian FICO 8 was 736 according to both Experian and MyFICO.
When Exp sent me the notice of someone pulling my report, I saw that the score dropped to 729, presumably from that pull.

I know this was really pushing it with Chase, of all places, to attempt an app now. I just thought my scores have gone way up, my utilization has gone way down . . . I'm gonna try it! Gotta learn to be more patient.

Re: Chase Freedom Flex

mgood — Fri, 12 Feb 2021 23:57:18 GMT

@Aim_High wrote:
Leave them alone. You're looking good so far!

I was already on the phone when I saw your message, lol.

Re: Chase Freedom Flex

coldfusion — Sat, 13 Feb 2021 01:57:31 GMT

@SouthJamaica wrote:
@mgood wrote:
Aaaand, DECLINED.
Too recent since account openings.
Too many inquiries.
Too much credit?
Balances? (My UTL is 11%)

Sorry.

It's my understanding that

- the "30-day" thing is neutral

- when it switches to "2 weeks" that's bad

-when it switches to "7 to 10 days" that's good

- it's always better not to call them..... to just let it play out

roughly put:

30 days is "someone's gonna eyeball it, waiting for that to happen"

14 days is "1st glance looks good, Someone Important has to decide if they want to sign off on it"

7-10 days is either "we gotta check something out" or "Bzzt sorry thanks for playing".

Re: Chase Freedom Flex

Harvey26 — Sun, 14 Feb 2021 03:40:51 GMT

@mgood Sorry about your denial... Have you though about an Amex Card. You probably would be a really good candidate for one.

Re: Chase Freedom Flex

mgood — Sun, 14 Feb 2021 04:00:24 GMT

@Harvey26 wrote:
@mgood Sorry about your denial... Have you though about an Amex Card. You probably would be a really good candidate for one.

Yes, I have thought about it. But I only have two slots left in 5/24. I'd like to fill them with Chase cards.