topic Re: Chase AA in Credit Cards

Chase AA

Bmn5940 — Tue, 23 Jul 2019 02:04:03 GMT

Hello everyone,

It's my favorite time of the year.... STUDENT LOANS jk kill me. Anyway my fall bill and financial aid package was released today and I want to apply for my loan before the beginning of August (my school takes 30+ days to "receive" my loans and tries to charge me a late fee). I have recently opened a Chase Sapphire Preferred and Amex platinum(soft pull) in the same day and also applied and was denied for a Citi Card so in total 2 new inquiries last month and 2 new accounts. Amex has not hit report yet but chase has. I don't want to spook chase because they approved me for a 12.5k CSP and increased my FU from 500-2000 two days after my approval. I've read horror stories about chase closing all accounts due to too many new accounts and inquires. Long story short, will I be okay to add a discover hard pull to my credit report and add a student loan. I have a checking and Freedom unlimited with chase as well. Just don't want to spook them

Re: Chase AA

Anonymous — Tue, 23 Jul 2019 02:18:04 GMT

You'll be fine w/ Disco and SL's.

The main issue with Chase is picking up multiple Chase products and then stacking several approvals on top of that. Chase will be SPing your reports for the first week or so and again on a monthly basis looking for accounts. As long as you don't go overboard you'll be fine and Amex won't even report for 2 months or more.

Re: Chase AA

Anonymous — Tue, 23 Jul 2019 02:41:34 GMT

Let’s all try to stay on topic to the op’s question.

I agree with @Anonymous , you’ll be fine based on the info you provided us.

Re: Chase AA

mikesonthemend — Tue, 23 Jul 2019 03:20:35 GMT

@Bmn5940 wrote:
Hello everyone,

It's my favorite time of the year.... STUDENT LOANS jk kill me. Anyway my fall bill and financial aid package was released today and I want to apply for my loan before the beginning of August (my school takes 30+ days to "receive" my loans and tries to charge me a late fee). I have recently opened a Chase Sapphire Preferred and Amex platinum(soft pull) in the same day and also applied and was denied for a Citi Card so in total 2 new inquiries last month and 2 new accounts. Amex has not hit report yet but chase has. I don't want to spook chase because they approved me for a 12.5k CSP and increased my FU from 500-2000 two days after my approval. I've read horror stories about chase closing all accounts due to too many new accounts and inquires. Long story short, will I be okay to add a discover hard pull to my credit report and add a student loan. I have a checking and Freedom unlimited with chase as well. Just don't want to spook them

Lay off of the revolvers and the student loans won't hurt. Living the high life on credit while a student will. Paying for your education will not.

Re: Chase AA

Bmn5940 — Tue, 23 Jul 2019 03:57:22 GMT

Oh yeah absolutely I agree I don't live off credit as it is. My total for the year after financial aid will be about $10,000 which is exactly what I'm applying for. My utilization never goes over 10% always pay in full except for sometimes I leave small balances on a card or two month to month (pack of gum, pair of shoes) so my accounts show a little activity. But anyway just wanted to gather some opinions of a discover student loan hard pull and new account will spook chase

Re: Chase AA

NRB525 — Tue, 23 Jul 2019 04:17:11 GMT

You added Platinum ( $550 ) and CSP ( $95 ) so AF are now significant. What is your SUB spend requirement for the next three months?

I am confused, are you applying for a Discover student loan, or a Discover card and separately a student loan?

The Discover card should wait. One of the attractions for that card is double cash back, but you will be allocating a fair amount of a relatively small spend to other cards.

Re: Chase AA

Bmn5940 — Tue, 23 Jul 2019 04:29:08 GMT

Sorry should have been more clear I am applying for ONLY a discover student loan no new credit cards. I am worried chase won't like the new inquiry and account showing up

Re: Chase AA

Remedios — Tue, 23 Jul 2019 04:32:55 GMT

If you're only talking about student loan application, you should be fine.

Re: Chase AA

panda11 — Tue, 23 Jul 2019 20:48:22 GMT

@ bmn5940

would you mind sharing your income to qualify for the C$P card as a college student?

Re: Chase AA

Anonymous — Tue, 23 Jul 2019 20:48:29 GMT

As always YMMV, but I opened 5 new accounts around the same time as the CSP. 2 of them were Amex so they reported much later than the others. I never received any AA from Chase, however. Not that I would advocate poking any bears, but in your instance you should be okay.

Re: Chase AA

Bmn5940 — Tue, 23 Jul 2019 23:20:50 GMT

@panda11 currently making high 80k a year range when I applied, scores were 760's and I was 2/24

Re: Chase AA

Anonymous — Wed, 24 Jul 2019 00:35:20 GMT

@Bmn5940 wrote:
Sorry should have been more clear I am applying for ONLY a discover student loan no new credit cards. I am worried chase won't like the new inquiry and account showing up

This thread should be read in conjunction with this other thread: Discover Soft Pull Approval

<snip>"I stupidly Applied for cashback Discover IT and was instant approved for $1,500. Discover pulled Experian once and Equifax twice, no transunion pull(probably because I have it locked currently). Long story short a double pull on Equifax and single pull on Experian got me instant student loan approval and my first Discover card"</snip>

Re: Chase AA

Anonymous — Wed, 24 Jul 2019 03:55:06 GMT

To be making 80k a year, are you applying student loans/aid and tuition waivers, if any, to your income? That is really high for a student and I have called into chase asking about putting those as part of my income and they said no... I would be careful with that btw since you agree a student, that could raise many flags.

Re: Chase AA

Bmn5940 — Wed, 24 Jul 2019 04:12:42 GMT

All my yearly income is from an investment account I started when I was 18 as well as I am a Computer Engineering Senior and have been working with a tech company since last summer.

Re: Chase AA

Remedios — Wed, 24 Jul 2019 04:20:28 GMT

@Bmn5940 wrote:
All my yearly income is from an investment account I started when I was 18 as well as I am a Computer Engineering Senior and have been working with a tech company since last summer.

You're fine. Sometimes there is whole lot of "sky is falling going on"

It's not. Just stop applying for a while and age what you have. I dont see anything excessive there, though that IT card is kinda an important detail you omitted.

Anyway, Chase can be twitchy, but not that twitchy. Slow down and you'll be fine.