topic Next Card Mixed Signs Chase 4/24 in Credit Card Applications

Next Card Mixed Signs Chase 4/24

Soundersfan1 — Thu, 12 Dec 2024 01:34:25 GMT

So I've been getting mixed signs about where my credit is at, Amex has pre qualified before the Platinum, Gold, Blue Cash Everyday, Hilton, and all the Delta cards. Citi has pre qualified me for all the American Airlines cards, The Experian app has matched me for the Costco Anywhere Visa. Chase however doesn't show anything pre qualified. I am currently at 4/24 for Chase and I am looking for the next card. I'm planning on trying to get the Amex Platinum, Gold, Costco Visa, Chase Air Canada, and Chase Sapphire Preferred. Since I'm at 4/24 I'm forced to get a Chase card next or I won't be able to for a while. Right now im debating between the Air Canada and Sapphire Preferred. Need help!!!

Credit Profile:

Chase United Gateway - $5,000 CL

Chase Freedom Rise - $2,000 CL

BECU Cash Back Visa - $1,000 CL

BECU Line of Credit - $1,000 CL

Experian: 697-711

Inquiries: 13

Credit Utilization: 38%

Credit History: 11 months

Late Payments: 0

I'm getting extremely mixed signals of what I might be approved for. Also worth mentioning was denied for the Sapphire Preferred due to too many inquiries and lack of comparable credit lines (this was just when I got the $5K limit which I'm assuming was before the credit bureaus could update).

Wondering what the next steps are. Also I haven't been able to find the answers but does anyone know what the minimum credit limit is on the Chase Air Canada card.

Re: Next Card Mixed Signs Chase 4/24

Varsity_Lu — Thu, 12 Dec 2024 04:05:38 GMT

4 new cards and 13 hard pulls in 11 months? Honestly, I'm surprised you are pre-qualified for any card. No offense but you should probably let your file cool off for a while before applying for another card.

Re: Next Card Mixed Signs Chase 4/24

JoeRockhead — Thu, 12 Dec 2024 14:00:28 GMT

Your file is young and thin with a lot of inquiries. This is only going to increase your chances of either toy limit approvals, or outright further denials for excessive credit seeking. I'd also recommend you cool your jets for a minimum of 6 months to at least let some of the inquiries fall off. Better approvals will come your way.

Re: Next Card Mixed Signs Chase 4/24

Soundersfan1 — Thu, 12 Dec 2024 14:10:50 GMT

Honestly I was thinking waiting more towards Feb of next year since 3-4 inquiries would fall off depending on if Experian or TU is pulled. Then apply for CSP and Amex Platinum back to back

Re: Next Card Mixed Signs Chase 4/24

Varsity_Lu — Thu, 12 Dec 2024 14:18:27 GMT

@Soundersfan1 wrote:
Honestly I was thinking waiting more towards Feb of next year since 3-4 inquiries would fall off depending on if Experian or TU is pulled. Then apply for CSP and Amex Platinum back to back

How are 3-4 going to fall off if these all happened in 2024? Inquiries stay on your report for 2 years. You state that you are 4/24. Remember that you are also 4/12. That is a big red flag for a lot of lenders.

Re: Next Card Mixed Signs Chase 4/24

JoeRockhead — Thu, 12 Dec 2024 14:35:37 GMT

Although they do stay for 2 years, and some lenders may still look unfavorably on them, inquiries are no longer factored in Fico scoring models after 12 months. The 4/12 is still a lot for a young file.

Re: Next Card Mixed Signs Chase 4/24

Soundersfan1 — Thu, 12 Dec 2024 21:42:49 GMT

How picky will chase be about inquiries 1+ year old

Re: Next Card Mixed Signs Chase 4/24

Varsity_Lu — Thu, 12 Dec 2024 22:45:06 GMT

@Soundersfan1 wrote:
How picky will chase be about inquiries 1+ year old

Even in February when 3-4 of them move past a year old, you are still sitting on 9-10 inquiries that are less than a year old, right? Or did I totally misread your OP?

Re: Next Card Mixed Signs Chase 4/24

JoeRockhead — Thu, 12 Dec 2024 23:02:41 GMT

@Soundersfan1 wrote:
How picky will chase be about inquiries 1+ year old

It, like everything else in the credit world really depends on your profile. Initially it's almost always a computer so it also depends on how a particular lender has their risk assessment algorithms set up. Someone like Citi, who's well known to be sensitive to new accounts and inquiries will have their algorithms set to look for these preset red flags, Just as in addition to whatever else is important to them, Chase specifically looks for X/24 status when considering an approval for one of their core cards.

Whereas another lender may only be set up to initially look mainly at your scores, payment history, and amount of debt. It's impossible to know how each lender has their algorithms set, and what their priorities are, or not. Sifting through the approvals board might offer you some insight on other's experiences.

If you're borderline, a live person will review your reports for a more in depth look. Depending on their policy, a lender may, or may not ignore scorable vs non scorable inquiries. Generally though, the further away you are from multiple inquiries, the less risky you look.

I think if you're showing zero scorable inquiries in a 12 month span, that's usually good enough for anyone's sniff test.

Re: Next Card Mixed Signs Chase 4/24

Soundersfan1 — Sun, 15 Dec 2024 20:14:51 GMT

Chase's computer has never approved me for anything, every single thing I have with Chase has been approved by a lender. Also I did have my credit limits go from $1,000 to $5,000 and a $900 to $2,000 with my current stats. In theory if I wait until Feb 2025, it will give some time for my credit history to age more and show lenders that I can be responsible with a $5000 limit and let some inquires fall off so in theory it can only get better assuming I don't do anything drastic.

Re: Next Card Mixed Signs Chase 4/24

Soundersfan1 — Sun, 15 Dec 2024 20:15:23 GMT

Yes, however Chase did up my total credit limit from $1900 to $7000 with them with 13 inquires

Re: Next Card Mixed Signs Chase 4/24

AndySoCal — Sun, 15 Dec 2024 21:43:20 GMT

@Soundersfan1 I agree with waiting until some those inquires age or fall off your credit report. I would also get your credit utilization under 10% better yet under 5% before applying for more credit.

Re: Next Card Mixed Signs Chase 4/24

Soundersfan1 — Sun, 15 Dec 2024 21:45:31 GMT

Ok would you recommend doing that a few months before, right now im generally keeping utilization below 30%. Or are you saying pay down my cards to under 5% before the statement closing date so it'll report under 5%?

Re: Next Card Mixed Signs Chase 4/24

AndySoCal — Sun, 15 Dec 2024 23:42:50 GMT

@Soundersfan1 All cards are below 5% utilization.

Re: Next Card Mixed Signs Chase 4/24

Soundersfan1 — Sun, 15 Dec 2024 23:47:13 GMT

Hmm that means I'd only be able to spend $450 out of my $9,000 CL which won't really do well unless I pay off the balances every week. I'm thinking just pay them down to like 1 or 2% before my statement closing date. That should work / whats your opinion of that. Also I use pre approval tools to gage what other issuers position is on my credit and Amex has pre qualifed me for Platinum, Gold, Green, Blue Cash Preferred, and Blue Cash Everyday. I'm not sure if that means my high inquiries isn't that much of a factor but I'm planning on getting the Platinum or Gold in Febuary when my credit history has aged more and 3-4 inquiries have fallen off my accout.

Re: Next Card Mixed Signs Chase 4/24

AndySoCal — Mon, 16 Dec 2024 05:51:49 GMT

@Soundersfan1 @You can spend as much as you want during the statement period. You want the balance reported to be less than 5%. Ideally you should pay the balance in full each month.

Re: Next Card Mixed Signs Chase 4/24

Soundersfan1 — Wed, 18 Dec 2024 14:49:38 GMT

Ok thats what I thought, also update. Amex approved me for the blue cash preferred so I've made the decision to move my spending away from Chase and onto Amex because it seems Amex doesn't care that much for my high inquiries vs Chase.

Re: Next Card Mixed Signs Chase 4/24

youngandcreditwrthy — Wed, 25 Dec 2024 18:43:48 GMT

@Soundersfan1 I wouldn't try for anything Chase. your aaoa looks way too low in my view. just my ho.

Re: Next Card Mixed Signs Chase 4/24

youngandcreditwrthy — Sun, 05 Jan 2025 19:21:20 GMT

@Soundersfan1 was the CLI a self initiated one and a HP?

I'd hold off 3-6 months and get that util under 30%.

I think I got my CSP with around 20% util 10 inquiries and in the 690s but it was only a $6k CL. meh Chase lets you move around limits IIRC though.

Re: Next Card Mixed Signs Chase 4/24

youngandcreditwrthy — Sun, 05 Jan 2025 19:23:25 GMT

5% util is too low @AndySoCal 9% is perfect to maximize utilization points in your score. that old gambit of 30% is a lie lol