topic Re: Preapproved for CSP in Branch... in Credit Cards

Preapproved for CSP in Branch...

Anonymous — Wed, 09 Sep 2015 02:19:18 GMT

Hey everyone,

I got a mailer the other day from Chase offering $300 cash back if I open a checking account with them and set up direct deposit. No brainer right? So I go down to the branch and the personal banker starts chit chatting since we're both prior military. I type in my social and immediately he's like oh, you're preapproved for a credit card by the way. I was like huh, weird since I just got one a little bit ago and it's my 3rd with Chase. He asks which one I just got and I tell him the AARP card. He looks puzzled and he's like you're definitely too young for that, and I was like nobody's too young for 3% cash back on dining.

We go through setting up the new account and my curiosity starts getting the better of me. I asked him which cards it listed that I was preapproved for and how certain those were. He's types something into the computer and he says the Slate, the United card, and the CSP. Knowing what I know about the recent changes with core Chase cards I definitely wanted to see what the consensus was here before wasting another HP or two.

I definitely have WAY more than 5 accounts in the last 2 years, I almost have 5 accounts last month alone. I did receive a formal job offer today, so that definitely helps on the income front if they'll consider future income. They also soft pulled Experian, I just double checked. I forgot I still have Equifax on ice so I'd probably want to thaw that just in case. However, Chase only pulled Experian alone I was instantly approved for the AARP card.

So whatcha think? Go for it? Is it a trap? I do remember reading on a thread it is possible to circumvent the new accounts with in branch apps... My AMEX Plat spend is almost done, I still have the Venture spend, which I need the card for but yeah... Thoughts?

Thanks,

Re: Preapproved for CSP in Branch...

myjourney — Wed, 09 Sep 2015 02:31:42 GMT

Was the sign up bonus any different than whats offered online for CSP?

Re: Preapproved for CSP in Branch...

Anonymous — Wed, 09 Sep 2015 02:35:27 GMT

@myjourney wrote:
Was the sign up bonus any different than whats offered online for CSP?

I didn't ask if there was a bonus. I didn't want to further sweeten the pot too much and tempt myself more than I already was...

Re: Preapproved for CSP in Branch...

CreditCuriosity — Wed, 09 Sep 2015 02:38:35 GMT

I honestly don't know about the CSP as we have alot of evidence on the 5x24 rule with the CSP/Freedom.. Maybe get some reassurance from him that he would goto bat for you if you apply and defend you against the UW's? Although doubtful that would do any good.. Ask him about the policy, although he might not be aware of it... Tempting for sure, but honestly don't know.. Grats on the 300 for opening the account, gotta love free money!

Re: Preapproved for CSP in Branch...

Anonymous — Wed, 09 Sep 2015 03:16:19 GMT

@CreditCuriousity wrote:
I honestly don't know about the CSP as we have alot of evidence on the 5x24 rule with the CSP/Freedom.. Maybe get some reassurance from him that he would goto bat for you if you apply and defend you against the UW's? Although doubtful that would do any good.. Ask him about the policy, although he might not be aware of it... Tempting for sure, but honestly don't know.. Grats on the 300 for opening the account, gotta love free money!

Exactly why I didn't immediately pull the trigger. He did say the pre-approvals are pretty solid, but the preapprovals may not peek for more than 5 accounts in 24 months... I don't know if I ever see me not having more than 5 new accounts in 24 months lol...

Re: Preapproved for CSP in Branch...

csryang — Wed, 09 Sep 2015 03:22:40 GMT

It's possible that Chase has not been able to see your recent round of apps as most of them has not reported as new accounts yet. It might be worse chance for you if you wait longer and the preapproval might go away.

Some exceptions to Chase's 5 cards rule are in branch application, special consideration, or preapproval via their website. If I want to bet, I will probably bet on you getting approved depite the stated rule.

However, no one can predict the future!! If you really need CSP now and dont care about losing one HP, please feel free to apply for it in branch. Make sure you also verify with them about the 5 cards rule and your preapproval from them for CSP. After you try it out, please post back and update us on your result.

Re: Preapproved for CSP in Branch...

Open123 — Wed, 09 Sep 2015 03:24:56 GMT

@csryang wrote:

Some exceptions to Chase's 5 cards rule are in branch application, special consideration, or preapproval via their website. If I want to bet, I will probably bet on you getting approved depite the stated rule.

I'd assume one has to have a deposit account?

Re: Preapproved for CSP in Branch...

FinStar — Wed, 09 Sep 2015 03:25:39 GMT

@Anonymous wrote:
Hey everyone,

I got a mailer the other day from Chase offering $300 cash back if I open a checking account with them and set up direct deposit. No brainer right? So I go down to the branch and the personal banker starts chit chatting since we're both prior military. I type in my social and immediately he's like oh, you're preapproved for a credit card by the way. I was like huh, weird since I just got one a little bit ago and it's my 3rd with Chase. He asks which one I just got and I tell him the AARP card. He looks puzzled and he's like you're definitely too young for that, and I was like nobody's too young for 3% cash back on dining.

We go through setting up the new account and my curiosity starts getting the better of me. I asked him which cards it listed that I was preapproved for and how certain those were. He's types something into the computer and he says the Slate, the United card, and the CSP. Knowing what I know about the recent changes with core Chase cards I definitely wanted to see what the consensus was here before wasting another HP or two.

I definitely have WAY more than 5 accounts in the last 2 years, I almost have 5 accounts last month alone. I did receive a formal job offer today, so that definitely helps on the income front if they'll consider future income. They also soft pulled Experian, I just double checked. I forgot I still have Equifax on ice so I'd probably want to thaw that just in case. However, Chase only pulled Experian alone I was instantly approved for the AARP card.

So whatcha think? Go for it? Is it a trap? I do remember reading on a thread it is possible to circumvent the new accounts with in branch apps... My AMEX Plat spend is almost done, I still have the Venture spend, which I need the card for but yeah... Thoughts?

Thanks,
Oz

Most in-branch pre-approvals seem to be fairly solid IME. That being said, I'm not sure how the CSP (or Slate) would play out given the current 5/24 UW policy. The banker may not be as informed on the policy or he could be aware if it if he deals with this on a frequent basis during any cross-selling opportunities.

You would definitely get approved for United (provided nothing drastic has changed recently). Now, it also depends whether you have use for United vs. CSP. Both have decent sign-up bonuses but you would also need to find out what the in-branch promotion is to determine which would aligns with your long term goals (usually in-branch promotions tend to be more generous and have less of a spend requirement).

Both carry the same AF. However, if you are thinking of taking one of the offers, evaluate which card makes more sense for you if you travel very frequently.

Re: Preapproved for CSP in Branch...

csryang — Wed, 09 Sep 2015 03:36:36 GMT

@Open123 wrote:
@csryang wrote:

Some exceptions to Chase's 5 cards rule are in branch application, special consideration, or preapproval via their website. If I want to bet, I will probably bet on you getting approved depite the stated rule.
I'd assume one has to have a deposit account?

I have no idea... they are all self-report cases. I read somewhere that they applied in branch and got approved despite having more than 5 new accounts in 2 years. They did not clarify if they had deposit account with Chase though...

My sister is a weird case. She was denied via reconsideration after applying chase freedom online. She then went to a branch and filled out another "new" application for chase freedom a couple days later. She got approved...... She has chase checking account.

Re: Preapproved for CSP in Branch...

Anonymous — Wed, 09 Sep 2015 03:56:11 GMT

I just got the same 300 offer from chase. The catch is if you deposit a minimum of 15k into the checking acct.

Re: Preapproved for CSP in Branch...

Anonymous — Wed, 09 Sep 2015 04:02:43 GMT

@Anonymous wrote:
I just got the same 300 offer from chase. The catch is if you deposit a minimum of 15k into the checking acct.

Ours might be slightly different, mine was $300 for opening the checking account and setting up direct deposit (within 60 days) and another $200 (for a total of $500) for opening a savings account with a $15,000 deposit...

Re: Preapproved for CSP in Branch...

ddemari — Wed, 09 Sep 2015 22:27:43 GMT

Op I would have pulled the trigger, from what chase bankers have told me those preapprovals are solid and if ther are any problems, they will call up the credit department and figure it out for u.

Re: Preapproved for CSP in Branch...

Scupra — Wed, 09 Sep 2015 22:34:54 GMT

@Anonymous wrote:
@Anonymous wrote:
I just got the same 300 offer from chase. The catch is if you deposit a minimum of 15k into the checking acct.
Ours might be slightly different, mine was $300 for opening the checking account and setting up direct deposit (within 60 days) and another $200 (for a total of $500) for opening a savings account with a $15,000 deposit...

Oz

Got this exact offer in the mail as well

Re: Preapproved for CSP in Branch...

sponge_gto — Thu, 10 Sep 2015 00:14:52 GMT

OP, please do not apply for the CSP or you will be wasting an HP. I have personal experience that pre-approvals will appear in spite of the 5/24 rule which will still automatically result in a declined app. The banker has little to no say on the approval procedure so he won't be able to help you much at all. One possibility that I have not seen data points on is the "special consideration" process where you establish a deposit of more than $10k in your checking account and ask the banker to file some forms for you. That process can be leveraged to grant you credit cards when you have absolutely zero credit history but I do not have any idea if it can override the 5/24 rule.

Re: Preapproved for CSP in Branch...

Anonymous — Thu, 10 Sep 2015 00:56:05 GMT

got the same offer and opened joint checking for DW and I. First direct deposit came in, $300 2 biz days later and promptly sent back Freedom's way

Anyway, since then decided to go for some new CCs. Got approved for British Airways - I had maybe 5 INQs from Chase alone in the last 2 months between Freedom, United and CLI app on Ritz Carlton. No go - max credit they can extend to me. Surprise surprise - approved.

Quite possibly having a deposit account makes a difference but I'll only be able to say that with much conviction if, and only if they approve my pending United app. DW also approved for United, higher SL than Freedom and CSP.

I would totally app, but maybe after that first direct deposit goes in. (Maybe a way to verify income without asking, or maybe the timing was purely coincidental for us)