Chase Slate and Skyla Platinum Rewards Visa

oorhett — Thu, 08 May 2025 20:51:34 GMT

DW has a 0% Promo expiring next month so decided it was time to get in on a balance transfer Promo.

Already has Navy Plat, CashRewards and MoreRewards

Decided to go in branch to Chase and see if we get lucky for a 0% fee Slate Edge:

No offers and not pre-approved decided to apply
Pulled Experian and instant approval for $15,000 0% APR for 18mo
With Chase DW currently has:
- Freedom Unlimited $14,900 limit
- Sapphire Preferred $24,000 limit
- Freedom Flex $17,700 limit
Pulled Experian - Vantage 3 = 725 Fico 8= 758
Total Usage: 17% Highest individual 74% ( The card we are balance transferring (13,000)
Inquiries - 0

Will plan to re-allocate limits to get the Slate to a point where the Ratios are better after the BT still has a 3% fee was holding out hope that a 0% fee would show up on DW account but no dice.

We did see a credit limit increase available on her Flex Sapphire and new Slate card - Tried the Slate and got the 24hr notice but Flex still showed available so tried and got another $3000 on the Freedom Flex - Will move 10,000 from both the Flex and Sapphire cards to get the Slate to under 40% utilization

Decided to try Skyla CU as they have a Platinum Rewards Visa with 12 mo 0% and no fee balance transfers:

Called and spoke to a CSR Was told its best to apply for the card 1st then open an account 1st as that will open the account automatically and would make the process easier FWIW
Asked what credit bureau to unfreeze and was told TransUnion
Went to the website and applied after entering most of my information they had basically a SP Prequalification for each of their cards that showed base on SP that DW was unlikely to be approved for any of their cards.
Decided to still HP as I have no understanding of their Prequal reliability.
Was asked to upload a paycheck, and the underwriter would get back to us.
Received email the next day requesting 3 last pay stubs from each of DW employers - so sent the same ones again, plus 2 more
They replied back asking if there was any additional income as the debt-to-income ratio was a little too high for them to usually approve.
Wanted 2 yrs W2 to use rental income - chose not to provide that, and they submitted to the underwriter
The next day received a Denial due to Debt-to-Income:
- 59.23% and unsecured Debt to income = 55.15%
  - Was told they want those numbers to be 45% and 35%
Pulled TU - TU Vantage 3.0 - 723 ( will see if/when we get the decline letter what score they used )
- Score = 751
- Too many bankcards with a high balance
- Not enough balance paid done over time on revolving accounts
- No recently opened real estate secured loan
- Not enough balance paid down over time on real estate secured loans
Ratios - Same as above
Inquiries - 2

Re: Chase Slate and Skyla Platinum Rewards Visa

indiolatino61 — Wed, 07 May 2025 21:53:36 GMT

Re: Chase Slate and Skyla Platinum Rewards Visa

oorhett — Thu, 08 May 2025 20:56:05 GMT

Updated TU score and credit factors from Skyla Credit Union:

Score = 751 (341-850)
Too many bankcards with a high balance
Not enough balance paid done over time on revolving accounts
No recently opened real estate secured loan
Not enough balance paid down over time on real estate secured loans

topic Chase Slate and Skyla Platinum Rewards Visa in Credit Card Applications

Chase Slate and Skyla Platinum Rewards Visa

Re: Chase Slate and Skyla Platinum Rewards Visa

Re: Chase Slate and Skyla Platinum Rewards Visa