topic Re: Chase SWA rapid rewards card in Credit Cards

Chase SWA rapid rewards card

Anonymous — Wed, 30 Aug 2017 18:33:43 GMT

Hello,

I want to apply for the Southwest Airlines cc but am not sure if I'll get approved. TTU and EQ are 734 and 747 respectively. EXP is 770. Never missed a payment however I have only had an open credit line for about 13 months now. I want to apply but am afraid they will deny me due to such a short history. I am also a Chase customer for years now. What do you guys think? Will I get approved? Would applying in branch increase my chances?

Re: Chase SWA rapid rewards card

Anonymous — Wed, 30 Aug 2017 18:40:59 GMT

@Anonymous wrote:
Hello,

I want to apply for the Southwest Airlines cc but am not sure if I'll get approved. TTU and EQ are 734 and 747 respectively. EXP is 770. Never missed a payment however I have only had an open credit line for about 13 months now. I want to apply but am afraid they will deny me due to such a short history. I am also a Chase customer for years now. What do you guys think? Will I get approved? Would applying in branch increase my chances?

Go for it. They only pull one credit bureau. What do you have to lose your scores look good. My only suggestion is I got the 60k bonus when I signed up. Right now I believe it is only 40k. You might want to see if pops up again.

Re: Chase SWA rapid rewards card

Gidgetmom — Wed, 30 Aug 2017 19:35:39 GMT

I was able to get my Premier SWRR with a $3,000 starting line very early in my rebuild (like 4 months of revolving history). My score at the time was around 650 with probably 3 or 4 Inq. They did double pull me...EX and EQ.

i would say go for it! But, as always, YMMV.

Re: Chase SWA rapid rewards card

Scupra — Wed, 30 Aug 2017 22:45:37 GMT

@Anonymous wrote:
@Anonymous wrote:
Hello,

I want to apply for the Southwest Airlines cc but am not sure if I'll get approved. TTU and EQ are 734 and 747 respectively. EXP is 770. Never missed a payment however I have only had an open credit line for about 13 months now. I want to apply but am afraid they will deny me due to such a short history. I am also a Chase customer for years now. What do you guys think? Will I get approved? Would applying in branch increase my chances?
Go for it. They only pull one credit bureau. What do you have to lose your scores look good. My only suggestion is I got the 60k bonus when I signed up. Right now I believe it is only 40k. You might want to see if pops up again.

The offer is actually at 60k miles for $2k spend in 3 months. AF is not waived

Re: Chase SWA rapid rewards card

ridgebackpilot — Thu, 31 Aug 2017 02:37:04 GMT

@Anonymous wrote:
Hello,

I want to apply for the Southwest Airlines cc but am not sure if I'll get approved. TTU and EQ are 734 and 747 respectively. EXP is 770. Never missed a payment however I have only had an open credit line for about 13 months now. I want to apply but am afraid they will deny me due to such a short history. I am also a Chase customer for years now. What do you guys think? Will I get approved? Would applying in branch increase my chances?

Based on what you've said, I'm pretty certain you'll be approved, so long as you're not over the 5/24 Rule. Your FICO scores are plenty high enough and the underwriting for co-branded cards doesn't appear to be as rigorous as for the flagship Chase cards. Finally, Chase values an established customer relationship more than most lenders.

Re: Chase SWA rapid rewards card

Anonymous — Thu, 31 Aug 2017 02:36:36 GMT

What is the 5/24 rule?

Re: Chase SWA rapid rewards card

BronzeTrader — Thu, 31 Aug 2017 02:38:32 GMT

@Anonymous wrote:
Hello,

I want to apply for the Southwest Airlines cc but am not sure if I'll get approved. TTU and EQ are 734 and 747 respectively. EXP is 770. Never missed a payment however I have only had an open credit line for about 13 months now. I want to apply but am afraid they will deny me due to such a short history. I am also a Chase customer for years now. What do you guys think? Will I get approved? Would applying in branch increase my chances?

Chase does not like folks with thin files..... I won't bother with them.

Re: Chase SWA rapid rewards card

Anonymous — Thu, 31 Aug 2017 02:39:21 GMT

@Anonymous wrote:
What is the 5/24 rule?

Best way to explain it is by giving you this link:

https://www.doctorofcredit.com/chase-524-rule-explained-detail-need-know/

Re: Chase SWA rapid rewards card

ridgebackpilot — Thu, 31 Aug 2017 02:43:03 GMT

@Anonymous wrote:
What is the 5/24 rule?

The 5/24 Rule is a Chase internal policy which requires denial of certain credit card applications (including the SWA card) if the applicant has opened five or more new credit card accounts (any bank) within the last 24 months. It's rather strictly enforced these days. The link Irish provided will give you a more detailed explanation. Here a similarly useful link:

http://pointsyak.com/credit-cards/chase-524-rule/

Another internal Chase rule specifies that you're not allowed to apply for more than two of their cards within a 30-day period.

Good luck!

Re: Chase SWA rapid rewards card

Anonymous — Thu, 31 Aug 2017 02:54:03 GMT

@BronzeTrader wrote:
@Anonymous wrote:
Hello,

I want to apply for the Southwest Airlines cc but am not sure if I'll get approved. TTU and EQ are 734 and 747 respectively. EXP is 770. Never missed a payment however I have only had an open credit line for about 13 months now. I want to apply but am afraid they will deny me due to such a short history. I am also a Chase customer for years now. What do you guys think? Will I get approved? Would applying in branch increase my chances?
Chase does not like folks with thin files..... I won't bother with them.

Not entirely true for a lot of their cards. We often see people with thin or new credit files get approved for Chase cards like the Freedoms and some of their cobranded cards like the SW cards.

Re: Chase SWA rapid rewards card

Anonymous — Thu, 31 Aug 2017 03:00:00 GMT

@Anonymous wrote:
@BronzeTrader wrote:
@Anonymous wrote:
Hello,

I want to apply for the Southwest Airlines cc but am not sure if I'll get approved. TTU and EQ are 734 and 747 respectively. EXP is 770. Never missed a payment however I have only had an open credit line for about 13 months now. I want to apply but am afraid they will deny me due to such a short history. I am also a Chase customer for years now. What do you guys think? Will I get approved? Would applying in branch increase my chances?
Chase does not like folks with thin files..... I won't bother with them.
Not entirely true for a lot of their cards. We often see people with thin or new credit files get approved for Chase cards like the Freedoms and some of their cobranded cards like the SW cards.

Just to add on to this, I have a relative who had no prior credit history at all (no loans, no cards, etc) who only had a checking account with them. Got approved for a Freedom Unlimited for $800. Although, unfortunately, I don't know how much longer that relationship will last considering his thoughts towards payment....