topic Re: CSR odds please? in Credit Cards

CSR odds please?

Anonymous — Fri, 16 Mar 2018 10:19:21 GMT

Credit Profile:

AaOA: 1.5 years

No baddies, collections, BK, etc

FICO Experian: 749

FICO Transunion: 759

Credit Karma TU: 750

Credit Karma: EQ : 761

Average Monthly Util: <5%

Total Available Credit: $25,800

Annual Income: over $125,000

Only one hard inquiry on my TU in since 2016 and that was for apartment lease this month

No hard inquiries since 2016 on Experian/Equifax

Current cards:

AmEx BCE $12k since February 2017

Discover It $7.8k since July 2016

BoA Travel $1k since April 2017

PNC Visa Signature $5k since Nov 2016

I applied for a Chase Freedom back in October 2016 and was denied even after recon.

I'm waiting until November 2018 to apply for a Chase Sapphire Reserve for some international traveling - do my odds look good?

My 5/24 should be up by then.

Re: CSR odds please?

Anonymous — Fri, 16 Mar 2018 12:23:59 GMT

@Anonymouswrote:
Credit Profile:
AaOA: 1.5 years
No baddies, collections, BK, etc
FICO Experian: 749
FICO Transunion: 759
Credit Karma TU: 750
Credit Karma: EQ : 761
Average Monthly Util: <5%
Total Available Credit: $25,800
Annual Income: over $125,000
Only one hard inquiry on my TU in since 2016 and that was for apartment lease this month
No hard inquiries since 2016 on Experian/Equifax

Current cards:
AmEx BCE $12k since February 2017
Discover It $7.8k since July 2016
BoA Travel $1k since April 2017
PNC Visa Signature $5k since Nov 2016

I applied for a Chase Freedom back in October 2016 and was denied even after recon.
I'm waiting until November 2018 to apply for a Chase Sapphire Reserve for some international traveling - do my odds look good?
My 5/24 should be up by then.

A lot can change in the credit world in 8 months but if you were to apply now (if you were under 5/24), then your chances would be pretty good.

Re: CSR odds please?

Anonymous — Fri, 16 Mar 2018 12:25:46 GMT

What do you mean a lot can change? Personally I don't plan on any big changes for myself.

Re: CSR odds please?

Anonymous — Fri, 16 Mar 2018 12:33:48 GMT

@Anonymouswrote:
What do you mean a lot can change? Personally I don't plan on any big changes for myself.

Circumstances can change (new job, job loss, moving, marriage, divorce), economy can change, lending laws can change. Issuers can change/discontinue products, etc.

Chances are your odds will be about the same in 8 months as now (depending on your 5/24 standing) but they could be quite different, whether better or worse.

Re: CSR odds please?

Anonymous — Fri, 16 Mar 2018 12:36:47 GMT

also with 5/24 rule, my 5 open accounts, 4 of which are actual credit cards, 1 is a revolving loan that I paid off already.

would I still be unable to qualify?

Re: CSR odds please?

Anonymous — Sun, 18 Mar 2018 10:14:49 GMT

can someone help me ?

Re: CSR odds please?

kshurika — Sun, 18 Mar 2018 10:27:18 GMT

Do you have an account with Chase? If not, you might consider opening one. Then, you could app from your branch with the help of a representative. Apping in-branch is also a way to get around 5/24. I think you're able to do this even if you don't have an account with Chase, but that account helps. Your scores, your income and your AAoA are certainly good enough.

Re: CSR odds please?

coldfusion — Sun, 18 Mar 2018 11:11:29 GMT

@Anonymouswrote:
also with 5/24 rule, my 5 open accounts, 4 of which are actual credit cards, 1 is a revolving loan that I paid off already.

would I still be unable to qualify?

What is it that makes you suspect you'll be unable to qualify due to the 5/24 rule by November? If you've accurately listed all your revolving accounts and those opening dates for each CC you'll be at 4/24 in August. When was that revolving loan taken out and what was the amount?

Re: CSR odds please?

Anonymous — Sun, 18 Mar 2018 18:49:02 GMT

I live in a state with no chase branches

Re: CSR odds please?

Anonymous — Sun, 18 Mar 2018 18:49:58 GMT

I say November 2018 because my (denied) Chase Freedom app was done in October of 2016. I figured I should wait the two years until that drops off my CR.

Re: CSR odds please?

Anonymous — Sun, 18 Mar 2018 18:50:40 GMT

"When was that revolving loan taken out and what was the amount?"

The revolving loan was actually a credit builder from a small credit union I'm a member of, and it was $1000 and it was done May 2016.

Re: CSR odds please?

HeavenOhio — Sun, 18 Mar 2018 19:27:00 GMT

Loans aren't part of 5/24, so you don't have to worry about that.

Re: CSR odds please?

Anonymous — Sun, 18 Mar 2018 20:26:47 GMT

Applications for credit that are denied do not appear on your credit report (I suppose its possible but I've never seen it happen). What shows on your CR is the inquiry/pull made when initially processing the application. Later, information about the new account is reported if the application was approved.

Even if your denied Chase Freedom app was listed on your credit report and fell off in October 2018; Chase will still have internal records related to your application. Chase uses a tool called Credit Acquistion Risk Score or CARS and that would certainly have more information than just the 7 years on your credit report.

I'm also curious why someone with an apparently solid credit and income profile would be denied for a Freedom card. What was the reason(s) given by Chase?

@Anonymouswrote:
I say November 2018 because my (denied) Chase Freedom app was done in October of 2016. I figured I should wait the two years until that drops off my CR.

Re: CSR odds please?

kshurika — Sun, 18 Mar 2018 20:43:35 GMT

@EarthQuaker wrote: I live in a state with no chase branches.

Well, that's a bummer. Still, Chase has very good CSRs. I'd put all your ducks in a row, call Customer Service and ask some questions. Of course, they can't tell you your odds of being approved, but I, like almost everyone else on this forum, think your odds of that are very, very good. In your OP you stated that you were after CSR. If you don't have any other card with a CL of 10K, your chances of being approved are about nil. If that's the case, go for the CSP.

Good luck!

Re: CSR odds please?

HeavenOhio — Sun, 18 Mar 2018 20:55:52 GMT

@Anonymouswrote:
I'm also curious why someone with an apparently solid credit and income profile would be denied for a Freedom card. What was the reason(s) given by Chase?

The OP applied for the Freedom when he had only one card that was only a couple of months old. He'd have been fine applying for that card in late fall or early summer of last year. Like the others here, I think he's fine applying for the CSR at this point. His history is solid, his limits are good, and he hasn't applied for anything recently.

If he feels inclined to wait, waiting until his oldest card is more than two years old should be more than sufficient. In the meantime, he could look into a CLI on the Discover card as long as he does it with a soft pull. I don't know what the timing is since his last CLI on his AMEX card, but that might be a possibility too. His other banks would involve hard pulls, so I'd avoid CLI requests on those cards until the CSR is in hand.

Re: CSR odds please?

Anonymous — Sun, 18 Mar 2018 21:32:07 GMT

I missed that; mistakenly assuming the because of his reported scores he/she had a longer credit history.

I also think the odds are very good for the CSR right now.

@HeavenOhiowrote:
@Anonymouswrote:
I'm also curious why someone with an apparently solid credit and income profile would be denied for a Freedom card. What was the reason(s) given by Chase?
The OP applied for the Freedom when he had only one card that was only a couple of months old. He'd have been fine applying for that card in late fall or early summer of last year. Like the others here, I think he's fine applying for the CSR at this point. His history is solid, his limits are good, and he hasn't applied for anything recently.

If he feels inclined to wait, waiting until his oldest card is more than two years old should be more than sufficient. In the meantime, he could look into a CLI on the Discover card as long as he does it with a soft pull. I don't know what the timing is since his last CLI on his AMEX card, but that might be a possibility too. His other banks would involve hard pulls, so I'd avoid CLI requests on those cards until the CSR is in hand.

Re: CSR odds please?

Anonymous — Mon, 19 Mar 2018 11:04:18 GMT

I was denied for chase freedom because back then my FICO EX/TU was 680's , my AAoA was 2 months and my oldest credit card on CR was ~3 months. I called RECON back then and they said they couldn't approve me because of length of credit history

Re: CSR odds please?

Anonymous — Mon, 19 Mar 2018 11:06:04 GMT

My Discover has been CLI (both auto/mnaual) from $1000 to $7800 in the last ~2 years

AmEx, SL $2k, CLI to $6k after 3 months, auto CLI to $12k sometime late last year.

I don't plan on getting a CLI with AmEx or Discover until I have a CSR in hand.

Re: CSR odds please?

Anonymous — Mon, 19 Mar 2018 11:59:10 GMT

If you don't have any other card with a CL of 10K, your chances of being approved are about nil. If that's the case, go for the CSP.

I have AmEx BCE with $12k and Discover It $7.8k

Re: CSR odds please?

Anonymous — Mon, 19 Mar 2018 14:27:33 GMT

@Anonymouswrote:
I say November 2018 because my (denied) Chase Freedom app was done in October of 2016. I figured I should wait the two years until that drops off my CR.

I am not sure why you think you are 5/24. You know your Chase Freedom app and your loan don't count against 5/24?