topic Re: Chase Options in Credit Cards

Chase Options

Anonymous — Fri, 19 May 2017 22:39:30 GMT

So I REALLY want the Chase Sapphire card but I know I have too many inquiries: 10 over the past 12/18 months - 3-4 for mortgages (no longer in the market) 2-3 for the used vehicle purchased in 2016. My numbers as follows - Ex 735 Tu 759 Eq 721. No baddies, no Bkrups, no late or missed payment on anything. PIF every month in all cards. Lowest limit Chase Freedom $500 highest limits $3000 on a CapOne, Amex Delta. Here's what I'm thinking:

1. Straight app for the CSP and risk denial because of inquiries and add another hp
2. Request cli on my Chase Freedom Unlimited and risk denial because of inquiries and add another hp
3. Request product change from Freedom to CSP without hp but no movement on credit limit as all Freedom account circumstances just transfer to CSP...which means same puny limit
4. Sit in the garden until the end of 2018 and manage the hell out of my current cards and limits and then re-evaluate.

Re: Chase Options

jamesdwi — Fri, 19 May 2017 22:58:12 GMT

don't count any over 12 months old. Lenders don't.

Also lenders are supposed to lump AUTO and Home INQ's together so they count as a single one for each group.

if your UTL is good, chase will probably give you a chance if you have been responsible with your cards. Chase has been SP'ing since you got your card, they know you and will make the determination base on its internal score, not your FICO's. If they deny you they will state it was because of FICO, but really its your internal score that matters once you are a customer.

Re: Chase Options

Anonymous — Fri, 19 May 2017 23:08:20 GMT

Thanks Jamesdwi, my util is less that 10%. One thing I forgot to take into account is Chase's 5/24 rule so apping I think is out. I'm pretty sure I have 5 accounts opened in the past 24 months. I'm leaning towards the product change.

Re: Chase Options

Anonymous — Fri, 19 May 2017 23:44:31 GMT

You cannot PC to a CSP unless your limit is 5k or greater. If you ask for a CLI on the FU and your new limit is >=5k, then it is possible, but not guaranteed.

I think after being with Chase for at least one year and perfect history otherwise, they will be willing to approve you for a CSP.

^^Ditto to Chase Internal Risk score. My banker just blushes when I mention it, but doesn't deny that it means everything to them lol.

Re: Chase Options

simplynoir — Fri, 19 May 2017 23:45:24 GMT

I think based on your scores and other info if it weren't for 5/24 rule you think you are under you'd be approved for the CSP. The question is exactly how bad you want it because missing out on the at the very least the minimum $5k SL is a hard pill to swallow when talking about a PC from your Freedom. I mean unless they consider moving that CL up when doing a possible PC takes into effect; I dunno how that would work exactly.

Re: Chase Options

Anonymous — Fri, 19 May 2017 23:51:19 GMT

@Anonymous wrote:
You cannot PC to a CSP unless your limit is 5k or greater. If you ask for a CLI on the FU and your new limit is >=5k, then it is possible, but not guaranteed.

I think after being with Chase for at least one year and perfect history otherwise, they will be willing to approve you for a CSP.

^^Ditto to Chase Internal Risk score. My banker just blushes when I mention it, but doesn't deny that it means everything to them lol.

Thanks for the reply. I thought the same thing...the CL for the CSP is $5000, but when I called to check, the CSR said I could do it. Unless she didn't understand the question, but I specifically layed out what I wanted to do and she said no problem. I didn't do it, but if there's no impact to my credit, then no harm no foul.

Re: Chase Options

Anonymous — Fri, 19 May 2017 23:52:43 GMT

@simplynoir wrote:
I think based on your scores and other info if it weren't for 5/24 rule you think you are under you'd be approved for the CSP. The question is exactly how bad you want it because missing out on the at the very least the minimum $5k SL is a hard pill to swallow when talking about a PC from your Freedom. I mean unless they consider moving that CL up when doing a possible PC takes into effect; I dunno how that would work exactly.

Re: Chase Options

Anonymous — Fri, 19 May 2017 23:56:23 GMT

What ?! That is crazy! I am going to call and see if I can do that too.

Re: Chase Options

Anonymous — Sat, 20 May 2017 00:00:21 GMT

@Anonymous wrote:
What ?! That is crazy! I am going to call and see if I can do that too.

Please let me know what they say. The person I talked to said everything about the Freedom would move to the CSP. I also specifically said the reason I wanted to make a move was due to the puny Freedom credit limit and she said directly that that would not change. The only why it would change is if I apped for the CSP or requested a cli...which would result in a hp. And since I'm sitting on exactly 5 accounts in the past 24 months, I can't apply.,,auto denial.

Re: Chase Options

Anonymous — Sat, 20 May 2017 00:02:52 GMT

Nope, not eligible. Dang. I can only go back to a FU.

Re: Chase Options

Anonymous — Sat, 20 May 2017 00:12:00 GMT

@Anonymous wrote:
Nope, not eligible. Dang. I can only go back to a FU.

So I think the issue was the first rep was clueless. the rep I just talked to assumed my limit was over $5000 when she started the process. When she got to that point, she asked if I wanted to request a cli and I said NOPE. LOL

Re: Chase Options

trant3 — Sat, 20 May 2017 00:18:31 GMT

If you dont mind a ding to your AAoA and still like to pursue the CSP, why dont you app for a NON 5/24 card like the IHG (your profile suggest you'll be approved), then reallocate the limit to the Freedom. Reason being, Chase is notorious to approve a new card with a decent limit rather than approving a CLI.

Re: Chase Options

Anonymous — Sat, 20 May 2017 00:23:59 GMT

@trant3 wrote:
If you dont mind a ding to your AAoA and still like to pursue the CSP, why dont you app for a NON 5/24 card like the IHG (your profile suggest you'll be approved), then reallocate the limit to the Freedom. Reason being, Chase is notorious to approve a new card with a decent limit rather than approving a CLI.

Forgive my ignorance but I'm a little new to all of this so I'm not as familar with all of the acronym: what is "AAoA" and "IHG"?

Re: Chase Options

trant3 — Sat, 20 May 2017 00:28:10 GMT

@Anonymous wrote:
@trant3 wrote:
If you dont mind a ding to your AAoA and still like to pursue the CSP, why dont you app for a NON 5/24 card like the IHG (your profile suggest you'll be approved), then reallocate the limit to the Freedom. Reason being, Chase is notorious to approve a new card with a decent limit rather than approving a CLI.
Forgive my ignorance but I'm a little new to all of this so I'm not as familar with all of the acronym: what is "AAoA" and "IHG"?

Sure no worries. AAoA is average age of account. When you open new accounts your average age of account slight goes down. IHG referenced was the Chase IHG card, which is card where the 5/24 rule does not apply.

Re: Chase Options

Anonymous — Sat, 20 May 2017 00:28:12 GMT

@Anonymous wrote:
@trant3 wrote:
If you dont mind a ding to your AAoA and still like to pursue the CSP, why dont you app for a NON 5/24 card like the IHG (your profile suggest you'll be approved), then reallocate the limit to the Freedom. Reason being, Chase is notorious to approve a new card with a decent limit rather than approving a CLI.
Forgive my ignorance but I'm a little new to all of this so I'm not as familar with all of the acronym: what is "AAoA" and "IHG"?

Ok, so I get the acronyms are. Is the IHG a high SL card? If so, what is it?

Re: Chase Options

Anonymous — Sat, 20 May 2017 00:29:16 GMT

AAoA=Average Age of Accounts

IHG = InterContinental Hotels Group, a card offered by Chase apparently not subject to their 5/24 inquiry rule.

Re: Chase Options

trant3 — Sat, 20 May 2017 00:29:30 GMT

@Anonymous wrote:
@Anonymous wrote:
@trant3 wrote:
If you dont mind a ding to your AAoA and still like to pursue the CSP, why dont you app for a NON 5/24 card like the IHG (your profile suggest you'll be approved), then reallocate the limit to the Freedom. Reason being, Chase is notorious to approve a new card with a decent limit rather than approving a CLI.
Forgive my ignorance but I'm a little new to all of this so I'm not as familar with all of the acronym: what is "AAoA" and "IHG"?
Ok, so I get the acronyms are. Is the IHG a high SL card? If so, what is it?

Others can correct me if im wrong, I believe the IHG starts off at $5k

Re: Chase Options

Anonymous — Sat, 20 May 2017 00:31:14 GMT

"If approved for an account, your credit access line will be at least $2000."

2k SL

Re: Chase Options

UncleB — Sat, 20 May 2017 02:42:42 GMT

@jamesdwi wrote:
don't count any over 12 months old. Lenders don't.
Also lenders are supposed to lump AUTO and Home INQ's together so they count as a single one for each group.

if your UTL is good, chase will probably give you a chance if you have been responsible with your cards. Chase has been SP'ing since you got your card, they know you and will make the determination base on its internal score, not your FICO's. If they deny you they will state it was because of FICO, but really its your internal score that matters once you are a customer.

Just want to clarify that FICO doesn't consider HPs after a year, and FICO is said to factor HPs for a mortgage or auto loan as a single HP for FICO scoring purposes (assuming the HPs are done close enough together).

However, any lender that is inquiry-sensitive will still see (and may or may not count) each HP seperately when considering an application... they aren't bound to the FICO 'bundling' rule.

Re: Chase Options

Anonymous — Sat, 20 May 2017 04:50:26 GMT

@Anonymous wrote:
"If approved for an account, your credit access line will be at least $2000."

2k SL

That's the same number I got when they forced me to move CL.

I'd look at Ritz instead of IHG for a non 5/24 card with high SL.

Ritz also has some of the same benefits of the sapphire card so you can start enjoying them even before the CL transfer and PC.