topic Re: I got a prequalified offer for Chase!! Are the odds good?? in Credit Card Applications

I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 16:42:53 GMT

So I just checked the Chase prequal site for the fun of it. Didn't expect to get any results because I never have before. Well lo and behold it says I am prequalified for the Freedom card! It also says "more prequalified offers for you" the Slate card! Now, my EX score just hit 640. Seems low in the scheme of things but its my highest score in like 10 years. Don't know what TU and EQ are these days. I would love to have a prime card under my belt so my question is for anyone that has experience with Chase apps, is the prequal site pretty solid if it gives you a result? Who does Chase usually pull? Thanks in advance!

Re: I got a prequalified offer for Chase!! Are the odds good??

SecretAzure — Fri, 08 May 2015 16:51:25 GMT

@Anonymous wrote:
So I just checked the Chase prequal site for the fun of it. Didn't expect to get any results because I never have before. Well lo and behold it says I am prequalified for the Freedom card! It also says "more prequalified offers for you" the Slate card! Now, my EX score just hit 640. Seems low in the scheme of things but its my highest score in like 10 years. Don't know what TU and EQ are these days. I would love to have a prime card under my belt so my question is for anyone that has experience with Chase apps, is the prequal site pretty solid if it gives you a result? Who does Chase usually pull? Thanks in advance!

Their offers are usually pretty solid. Do you have any baddies? Chase pulls from different people too so it's somewhat difficult to predict. They pulled Equifax for me (East coast).

Re: I got a prequalified offer for Chase!! Are the odds good??

CreditCuriosity — Fri, 08 May 2015 16:53:02 GMT

Chase pre-qual is based off TU..Might want to pull that report.. But doesn't mean when they pull you it will be a tu or only a tu pull.. They are pretty solid dpending on other scenarios in your credit such as how many new recent accounts, inquiries, etc..

Re: I got a prequalified offer for Chase!! Are the odds good??

Blacktop87 — Fri, 08 May 2015 16:59:01 GMT

I actually did the same thing and took a look (yesterday now that I recall) and was pre approved for two of them. I applied for chase freedom and got approved with a starting 3k limit. I might try and call for a increase since I just closed on a house also beginning of the month. Blinds are expensive lol. I got a lowes card like 2 days ago so after this I will be going back to the garden.

If you got the pre-approval I think you should go for it. Not sure if income is a big factor for approval. They pulled TU for me at 685. Was higher when I started the process for the house.

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 17:12:41 GMT

Thanks for your responses! Here is a snapshot of my credit profile:

Discover card - $923 bal/$2200 limit

Credit union Visa - $280 bal/$2000 limit (new;opened 4/2015)

Macy's card - $0 bal/$280 limit

Jared's Jewelry - $1900 bal/2200 limit (new;opened 3/2015)

My total utilization went up to 50% because we used my Jared card to finance part of my engagement ring. Fiance will pay that off within 6 months but for now my score is suffering for it.

The new CU visa reported a balance to the CRAs before I got my first statement. That's the only reason that one is carrying a balance.

My experian score as of 5/7/2015 is 640. Which is 35 points higher than it was on March 27th. Haven't checked my others since March but I'm thinking they must have gone up too since I had a bunch of old medical collections removed.

Baddies:

Collections:

1. EQ/TU/EX - Pinnacle Collections (2009 Verizon ETF) - $312 status CLOSED ON TU AND EX STILL SHOWING OPEN ON EQ.

2. EQ/TU/EX - National Credit Systems (old apt) - $0 this account was PIF in 2012 but still on my report.

Charge offs:

1. EQ/TU/EX - Capital One card - $761 status PIF. Balance updated to $0 on EQ and EX. Shows as PIF/closed on TU but EX and EQ just updated the balance to $0 but comments still say "charge off bad debt". Does that hurt if the comment doesn't reflect that I paid the balance? I don't want it to look like they just gave up but I never paid.

Lates:

Discover: Jan 14 and Feb 14 - 30 day lates

Macys: May 14 Jun 14 July 14 - 30 day lates

2 student loans that shown 60 day lates from 2013

2 student loans that show 90 day lates from 2010 Opened a dispute with TU and EQ regarding these accounts. They are with Direct Loans Service Center and #1 I don't remember DL ever servicing my loans and #2 there is a lot of inaccuracies in the reporting. I'm hoping to get these deleted.

Thats pretty much everything. As I said, I've been a Chase bank customer for 5 years and have NEVER gotten any results from their prequalifier so this was super encouraging. That said, with the dings that are still on my report, do you all think it is still best to wait until the utilization is down more at least?

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 17:31:20 GMT

The same happened to me -- nothing for ages on their pre-qualifier and then boom one day it was there. I went ahead and applied and got instant approval. They double pulled both my TU and Experian. They were soft pulling my Experian which is much higher than my TU, but even though they hard pulled my TU I still got instant approval. I did have some late pays, but mine are over 5+ years old. I think I've read on the forums that they don't typically like any late pays within the last 12-24 months, so you might want to do a search to see what others have experienced. Good luck!

Re: I got a prequalified offer for Chase!! Are the odds good??

CreditCuriosity — Fri, 08 May 2015 17:42:48 GMT

For Best results if you can I would pay down Jared/Discover < 30% each preferably if you can <10 for best approval odds.. Best of luck whatever you choose.

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 17:53:13 GMT

@CreditCuriousity wrote:
For Best results if you can I would pay down Jared/Discover < 30% each preferably if you can <10 for best approval odds.. Best of luck whatever you choose.

Thanks for your thought! I will have Discover down to under 30% after the next billing cycle. Unfortunately we have to use the full 6 months to pay on the Jared. Maybe if I get that Discover down it will be enough for them to want me. Glad to know that they finally "pre" want me LOL :-)

Re: I got a prequalified offer for Chase!! Are the odds good??

CreditCuriosity — Fri, 08 May 2015 18:04:25 GMT

@Anonymous wrote:
@CreditCuriousity wrote:
For Best results if you can I would pay down Jared/Discover < 30% each preferably if you can <10 for best approval odds.. Best of luck whatever you choose.
Thanks for your thought! I will have Discover down to under 30% after the next billing cycle. Unfortunately we have to use the full 6 months to pay on the Jared. Maybe if I get that Discover down it will be enough for them to want me. Glad to know that they finally "pre" want me LOL :-)

Ya Pre-approved helps alot.. They just don't like to see 50% util.. Hold off if you half to as the pre-qual will still be there when you can get Jared down under 50%.. Just a reason they can use against you other then the CO/CA and lates.. Don't want to give them more ammunition is all for a denial.. Would hate to see you waste a HP or two.. Not saying it wouldnt be approved now, just edge on the side of caution.. Always nice knowing lenders like what they are seeing though via pre-qual sites

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 18:20:20 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
@CreditCuriousity wrote:
For Best results if you can I would pay down Jared/Discover < 30% each preferably if you can <10 for best approval odds.. Best of luck whatever you choose.
Thanks for your thought! I will have Discover down to under 30% after the next billing cycle. Unfortunately we have to use the full 6 months to pay on the Jared. Maybe if I get that Discover down it will be enough for them to want me. Glad to know that they finally "pre" want me LOL :-)
Ya Pre-approved helps alot.. They just don't like to see 50% util.. Hold off if you half to as the pre-qual will still be there when you can get Jared down under 50%.. Just a reason they can use against you other then the CO/CA and lates.. Don't want to give them more ammunition is all for a denial.. Would hate to see you waste a HP or two.. Not saying it wouldnt be approved now, just edge on the side of caution.. Always nice knowing lenders like what they are seeing though via pre-qual sites

+1 what CreditCuriousity says. Also, check out the Discover threads. Seems they are willing to give SP credit limit increases. Might be a way to work on the utilization issue without a hard pull. Don't have a Discover myself, so don't know how much the late pays with them might impact your ability to get a CLI, but they seem to be very generous right now.

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 18:22:42 GMT

@CreditCuriousity wrote:

Ya Pre-approved helps alot.. They just don't like to see 50% util.. Hold off if you half to as the pre-qual will still be there when you can get Jared down under 50%.. Just a reason they can use against you other then the CO/CA and lates.. Don't want to give them more ammunition is all for a denial.. Would hate to see you waste a HP or two.. Not saying it wouldnt be approved now, just edge on the side of caution.. Always nice knowing lenders like what they are seeing though via pre-qual sites

You guys are all awesome. Celebrating success while tempering it with realism for what to possibly expect. This forum is invaluable to me!

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 18:24:32 GMT

Discover actually just gave me an auto-credit line increase in March. My limit with them was $1700 and is now $2200. I don't think they will be willing to open up the purse strings again so soon. This was my first CLI in 4 years LOL.

Re: I got a prequalified offer for Chase!! Are the odds good??

CreditCuriosity — Fri, 08 May 2015 18:33:10 GMT

@Anonymous wrote:
+1 what CreditCuriousity says. Also, check out the Discover threads. Seems they are willing to give SP credit limit increases. Might be a way to work on the utilization issue without a hard pull. Don't have a Discover myself, so don't know how much the late pays with them might impact your ability to get a CLI, but they seem to be very generous right now.

Discover actually just gave me an auto-credit line increase in March. My limit with them was $1700 and is now $2200. I don't think they will be willing to open up the purse strings again so soon. This was my first CLI in 4 years LOL.

Disover has been doing it every 2 weeks... Keep your eyes open for SP's and follow the forums, been going on for 3 months now I believe.. ..Discover is very very giving lately via sp's

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 18:59:22 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
+1 what CreditCuriousity says. Also, check out the Discover threads. Seems they are willing to give SP credit limit increases. Might be a way to work on the utilization issue without a hard pull. Don't have a Discover myself, so don't know how much the late pays with them might impact your ability to get a CLI, but they seem to be very generous right now.

Discover actually just gave me an auto-credit line increase in March. My limit with them was $1700 and is now $2200. I don't think they will be willing to open up the purse strings again so soon. This was my first CLI in 4 years LOL.
Disover has been doing it every 2 weeks... Keep your eyes open for SP's and follow the forums, been going on for 3 months now I believe.. ..Discover is very very giving lately via sp's

+1 Creditcuriousity again (sorry spoiledgyr -- you must feel like a ping pong ball between us). Just saw a post saying Discover is give CLIs every 16 days!! Keep us posted.

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 18:59:52 GMT

So when I do decide to pull the trigger, do we like Freedom or Slate better?

Re: I got a prequalified offer for Chase!! Are the odds good??

CreditCuriosity — Fri, 08 May 2015 19:10:32 GMT

@Anonymous wrote:
So when I do decide to pull the trigger, do we like Freedom or Slate better?

Slate is worhtless then a Balance transfer card and a free EX fico.. other then that no rewards.. Freedom is 5% rotating categories being this month it is 5% off restaurants and a few other categories I don't use, last month was 5% off Grocery stores and movies and something else, etc... everything else is 1%.. So if you want rewards then Freedom, if you want a BT card then the slate.. Freedom IMO as it has 15 month 0%apr as well I believe.

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 19:22:21 GMT

OK so don't frown upon me too harshly when I admit that my itchy finger just wouldn't rest so I pushed the button. I got a message that said they needed me to verify my identity so I called and answered some questions about my Chase checking and savings accounts and.... I was APPROVED!!!! $2000 starting limit. I'm back in prime card land! Woohoo!!

@CreditCuriousity wrote:
@Anonymous wrote:
So when I do decide to pull the trigger, do we like Freedom or Slate better?
Slate is worhtless then a Balance transfer card and a free EX fico.. other then that no rewards.. Freedom is 5% rotating categories being this month it is 5% off restaurants and a few other categories I don't use, last month was 5% off Grocery stores and movies and something else, etc... everything else is 1%.. So if you want rewards then Freedom, if you want a BT card then the slate.. Freedom IMO as it has 15 month 0%apr as well I believe.

Re: I got a prequalified offer for Chase!! Are the odds good??

CreditCuriosity — Fri, 08 May 2015 19:26:16 GMT

@Anonymous wrote:
OK so don't frown upon me too harshly when I admit that my itchy finger just wouldn't rest so I pushed the button. I got a message that said they needed me to verify my identity so I called and answered some questions about my Chase checking and savings accounts and.... I was APPROVED!!!! $2000 starting limit. I'm back in prime card land! Woohoo!!

@CreditCuriousity wrote:
@Anonymous wrote:
So when I do decide to pull the trigger, do we like Freedom or Slate better?
Slate is worhtless then a Balance transfer card and a free EX fico.. other then that no rewards.. Freedom is 5% rotating categories being this month it is 5% off restaurants and a few other categories I don't use, last month was 5% off Grocery stores and movies and something else, etc... everything else is 1%.. So if you want rewards then Freedom, if you want a BT card then the slate.. Freedom IMO as it has 15 month 0%apr as well I believe.

Lol we all have that finger.. Least your gamble worked out.. Go for the freedom? What Apr% did you get?

edit: Forgot to say congrats!

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 19:26:14 GMT

@Anonymous wrote:
OK so don't frown upon me too harshly when I admit that my itchy finger just wouldn't rest so I pushed the button. I got a message that said they needed me to verify my identity so I called and answered some questions about my Chase checking and savings accounts and.... I was APPROVED!!!! $2000 starting limit. I'm back in prime card land! Woohoo!!

@CreditCuriousity wrote:
@Anonymous wrote:
So when I do decide to pull the trigger, do we like Freedom or Slate better?
Slate is worhtless then a Balance transfer card and a free EX fico.. other then that no rewards.. Freedom is 5% rotating categories being this month it is 5% off restaurants and a few other categories I don't use, last month was 5% off Grocery stores and movies and something else, etc... everything else is 1%.. So if you want rewards then Freedom, if you want a BT card then the slate.. Freedom IMO as it has 15 month 0%apr as well I believe.

Whoo hoo!!! Congrats. Slate or Freedom??

Re: I got a prequalified offer for Chase!! Are the odds good??

Anonymous — Fri, 08 May 2015 19:28:05 GMT

Omg!!! LOL -- CreditCuriosity and I are bombarding you with the same questions. We've got ichy posting fingers