topic Re: Chase Bank - No Hard Pull? in Credit Cards

Chase Bank - No Hard Pull?

Anonymous — Sat, 01 Jun 2019 00:20:51 GMT

So last night I was checking over my SO's credit file because she applied for a personal loan of $4500 and was approved at JSC Federal CU. Then I ended up checking on the balances on all of our CC accounts. While I was in the Chase portal I noticed that she had a offer for the CSP; didn't initally pay it any mind because she got denied for the BCE on AMEX the day before. After messing around I decided to go to the "Just for you" section. The CSP offer was not there, so I said oh well. Then went back to the main portal screen and it was back. So I decided to just go for it. Looked through the T&C and saw a solid % and felt even better about apping. But this time around all they required was annual income and phone number also a message to paraphrase, "For being a exsisting Chase customer, we'll make the application process easier for you". Clicked submit for review and it processed the "application" and she was approved for $9k. So my questions are....

Does anyone know or can confirm possible data points that Chase is not doing hard pulls for exsisting customer?

Did it actually count as a hard pull and will eventually show up on her CR?

Any insight will be helpful.

Re: Chase Bank - No Hard Pull?

Anonymous — Sat, 01 Jun 2019 00:26:54 GMT

Yes it's a HP and usually a double HP between 2 CR's. For me it's usually EQ/EX.

Re: Chase Bank - No Hard Pull?

Remedios — Sat, 01 Jun 2019 00:59:32 GMT

@Anonymous wrote:
So last night I was checking over my SO's credit file because she applied for a personal loan of $4500 and was approved at JSC Federal CU. Then I ended up checking on the balances on all of our CC accounts. While I was in the Chase portal I noticed that she had a offer for the CSP; didn't initally pay it any mind because she got denied for the BCE on AMEX the day before. After messing around I decided to go to the "Just for you" section. The CSP offer was not there, so I said oh well. Then went back to the main portal screen and it was back. So I decided to just go for it. Looked through the T&C and saw a solid % and felt even better about apping. But this time around all they required was annual income and phone number also a message to paraphrase, "For being a exsisting Chase customer, we'll make the application process easier for you". Clicked submit for review and it processed the "application" and she was approved for $9k. So my questions are....

Does anyone know or can confirm possible data points that Chase is not doing hard pulls for exsisting customer?
Did it actually count as a hard pull and will eventually show up on her CR?

Any insight will be helpful.

There was a HP or two.

Check CK for EQ and TU pulls. EX offers free report (along with fico 8 score)

Re: Chase Bank - No Hard Pull?

Anonymous — Sat, 01 Jun 2019 01:33:45 GMT

It will always be a hard pull with chase, depending on your location, one or two as well. For me, since EX was frozen, only TU was pulled.

Re: Chase Bank - No Hard Pull?

coreysw12 — Sat, 01 Jun 2019 03:06:19 GMT

Honestly it sounds like her profile might fit the description of "aggressive credit seeking behavior", so I would lay low on applying for new cards right now or you risk getting adverse actions taken against the new and/or existing accounts.

She applied and got denied for an Amex yesterday, and then applied for and received a personal loan - I'd just leave it at that. If she applies for another card (especially a Chase card) immediately after failing to get an Amex and taking out a personal loan, it could get ugly. Even if Chase initially approves the new card, they could change their mind later after they see the other credit activity.

Re: Chase Bank - No Hard Pull?

tcbofade — Sat, 01 Jun 2019 03:13:22 GMT

DW just picked up a CSP this way... the HP on TU showed up immediately, the HP on EX showed up a day or two later.

Expect HPs.

Re: Chase Bank - No Hard Pull?

Revelate — Sat, 01 Jun 2019 08:25:54 GMT

@coreysw12 wrote:
Honestly it sounds like her profile might fit the description of "aggressive credit seeking behavior", so I would lay low on applying for new cards right now or you risk getting adverse actions taken against the new and/or existing accounts.

She applied and got denied for an Amex yesterday, and then applied for and received a personal loan - I'd just leave it at that. If she applies for another card (especially a Chase card) immediately after failing to get an Amex and taking out a personal loan, it could get ugly. Even if Chase initially approves the new card, they could change their mind later after they see the other credit activity.

I doubt that.

I'll admit if you go back far enough on this forum circa 2012 I basically was the initial proponent of spree methodology being smart. Summary stats, which demonstrates my spree and then gardening repeatedly, and this includes a total of 7 Chase cards being sprinkled in through there including recent datapoints under their modern UW guidelines.

Total Accounts on file	34
Open Revolvers	18
Opened within 6 months	2
Opened within 12 months	4
Opened within 18 months	4
Opened within 24 months	4
Opened within 36 months	4
Opened within 48 months	17
Opened within 60 months	17
Opened within 72 months	21
Opened before 72 months	13
AAOA (months)	57

Zero AA. I don't see any benefit in promoting these stories from a community perspective currently, lenders are not that skittish in the current market. I'm not trying to say that everyone is going to have the same experience, but to that point most people aren't going to get flagged for "aggressive credit seeking behavior" either, almost always something else is wrong and again it's a small subset of the population.

And frankly, if AA happens? So what? Means nothing long term, and nothing ventured nothing gained: an overabundance of caution simply retards one's credit portfolio.

Re: Chase Bank - No Hard Pull?

Anonymous — Sat, 01 Jun 2019 13:13:50 GMT

I'm an existing Chase customer who got a CSP on Tuesday based on an application a few days before. And they HP'd EQ and EX for me. BTW, I think your SO is pretty lucky you scored her that card! Hope she appreciates your assistance!

Re: Chase Bank - No Hard Pull?

kdm31091 — Sat, 01 Jun 2019 14:12:30 GMT

There’s also the point that one doesn’t need to be opening a new card every couple months, whether or not we think they’d receive AA. I agree it’s best not to be paranoid about it, but you don’t have to invite it with constant apping, either.

Yes it is fairly rare but it does happen. Algorithms are becoming more sophisticated against credit seeking/churning behavior.

Re: Chase Bank - No Hard Pull?

Revelate — Sat, 01 Jun 2019 16:33:15 GMT

@kdm31091 wrote:
There’s also the point that one doesn’t need to be opening a new card every couple months, whether or not we think they’d receive AA. I agree it’s best not to be paranoid about it, but you don’t have to invite it with constant apping, either.

Yes it is fairly rare but it does happen. Algorithms are becoming more sophisticated against credit seeking/churning behavior.

True that KDM, to be fair all my spree mechanic 'splaining also included a cycle of non-trivial gardening too and never pick up any tradeline just to pick up a tradeline: have a purpose for it. After I got through initial credit establishment which I'll call ended by 1/1/13 when I picked up the Freedom and BCE (nee BCP) among other accounts:

15 months gardening

Spree

14 months gardening

Mortgage + Spree

10 months gardening

Spree cause I didn't really rationally care about credit, mortgage goal obtained so w/e

22 months gardening

I suspect I could be labeled sloppy and stupid at this point (auto loan and some less than coherent choices to be fair, reindeer games and SUB chasing), but back in the saddle trying to keep that pretty mortgage mid score of a 767.

I suspect the striking thing about the pattern and number of accounts is that I could find so many accounts that had a use at a given time in my credit journey, literally I can go down all 34 accounts (open/closed) on my file and explain exactly what it did for me at that time: that's arguably the goal everyone should subscribe to, even if it's just "picked it up for the SUB" that's still a plan.

Ultimately it's about building a pretty file and at least maintaining some modicum of score, because s*** happens and it's better to have the score and file to support making credit changes when you need it, than not having it and trying to finance things at a suboptimal APR or worse.

Re: Chase Bank - No Hard Pull?

Anonymous — Sat, 01 Jun 2019 19:19:15 GMT

@coreysw12

I dont believe it really aggressive behavior. SO isnt very credit savvy; she could careless about credit cards lol. So manage all of the family credit profiles. The last inquire was 6 months ago when we got her a new car through Chevrolet Financal and refianced 29 day later through JSC FCU. That brought her total inquire count to 7 within the last 2 yrs. Of the current 7, two will be falling off; one this month and one in july.

SO and I have VERY similar credit profile as we are cosigners and AU's on everything. So i felt with the current state of her profile and her score we app'd mainly to keep her credit mix diverse; old loan had fallen off that dropped score slightly (697 to 689). Thats were the personal loan comes in. Also I only make major moves on her credit once a yr.

I feel my Chase strategy is somewhat solid as I have the Chase Trifecta myself (she AU on all) and was able to got over the "5/24 Rule" in one month with Chase. I believe the denial from Amex was ultimatley due to non usage of the Green Card we have; not a fan off charge cards but wanted to get in with AMEX for later lol. 97% of our spend goes through any one of the 3 Chase cards we have with most of it being through the CFU.

But i do agree that we will leave it at this as we are planning to purchase a home within the next 9-12 mths.

Re: Chase Bank - No Hard Pull?

Anonymous — Sat, 01 Jun 2019 19:46:21 GMT

@Revelate wrote:

I suspect the striking thing about the pattern and number of accounts is that I could find so many accounts that had a use at a given time in my credit journey, literally I can go down all 34 accounts (open/closed) on my file and explain exactly what it did for me at that time: that's arguably the goal everyone should subscribe to, even if it's just "picked it up for the SUB" that's still a plan.

Ultimately it's about building a pretty file and at least maintaining some modicum of score, because s*** happens and it's better to have the score and file to support making credit changes when you need it, than not having it and trying to finance things at a suboptimal APR or worse.

I agree that ideally the goal should be to apply for those (and only those!) accounts that make sense at that point. I suspect though that different people will have different thresholds for what constitutes "a plan" enough to justify the card. I, for example, don't subscribe to "getting in the door with X" type stuff, where I get a pretty useless card from an issuer in the hopes that this will make it easier to, one day, get the card I want. Similarly, as I am not a believer in high CL for its own sake, getting a card because it's likely that I will get a high SL doesn't appeal to me either. But others will have their own metrics!