topic Re: Specific Chase CCs being shown when I click CCs when logged into my account... in Credit Cards

Specific Chase CCs being shown when I click CCs when logged into my account...

Anonymous — Sat, 25 Jul 2020 08:08:43 GMT

Hey everyone,

When I am logged into my CSP account, I am able to click on the credit card tab from the drop down menu and am shown cards that I have expressed interest in and could reasonable qualify for based on income and credit score/history. I applied for and was approved for the CSP about a month ago. I have read that you should wait anywhere from 3 months + before sending Chase another app, so I was wondering if this was just marketing for a card I can't really get (Freedom).

Have been tempted to targeting the freedom as my next card with the 0% for 15 months, 5% back on grocery purchases, and modest sign up bonus for $500 spend.

Any help is greatly appreciated. Thanks

UPDATE: Feeling bold, sent in app, denied at first but sent letter asking to verify my gross income and then further review would be completed. Detailed in a comment I made to this post.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

Anonymous — Fri, 24 Jul 2020 03:36:22 GMT

Chances are you could get the card...but history has shown that with apps too close together, Chase has had a history of approving that second card and then shutting it down (sometimes also closing the first). You are best served by giving it a few months between apps with Chase and any other cards, from them or anyone else. Play it safe.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

Remedios — Fri, 24 Jul 2020 03:52:22 GMT

If you just got approved for CSP, it takes about 6-8 weeks for marketing to catch up to lending.

One month apart is way to soon. Longer you have CSP, and more spend you put on it, more likely you are to get future approval.

Of course, you could just as easily get approved for Freedom, but only you know what your risk tolerance is in case second application goes sideways.

I wouldn't do it, but that's just me.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

Anonymous — Fri, 24 Jul 2020 06:00:15 GMT

Thanks for the reply. I am pretty unlearned on the time to space things out. Most Youtubers (my intro to the CC hobby) seem to gloss over the space to put between applications (other than 5/24), so I am rather uninformed aside from what I've been gathering and reading here.

While I would say that my risk tolerance is high (no new loans needed for at least 5+ years, but bought two cars for cash from my parents), I am not in the market for taking unecessary HPs for a fruitless endeavor, if you think it would be such.

I planned on gardening my two recent accounts (other is Amex BCE @ $1800 limit) with my older Disco to show good habits with "grown up" cards, but the freedom, which I already had my eye on, has gotten hotter and hotter over the last couple months ($150 sub to $200, now the 5% grocery). Just putting my feelers out there to see if it is a risky play or an outright stupid play with no chance.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

cashorcharge — Fri, 24 Jul 2020 18:42:44 GMT

I have heard about similar circumstances where people have been approved for the second card, but they were not issued another line of credit and instead, offered the second card after pulling part of the credit line from the first card. If you agree, 2 cards, no more available credit...if you decline, you stay with 1 card and the original line. It's a risky bet too close to another approval from Chase IMHO right now.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

UpperNwGuy — Fri, 24 Jul 2020 20:35:59 GMT

@Remedios wrote:
If you just got approved for CSP, it takes about 6-8 weeks for marketing to catch up to lending.

OP, this is a key concept for you to understand: the offers you are getting come from the marketing departments at the banks, but the approvals come from the lending departments, so never assume that the right hand knows what the left hand is doing.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

Anonymous — Mon, 27 Jul 2020 23:54:07 GMT

YouTubers on CC's is cringeworthy at best. I much prefer it here.

There are a few types:

1. Guy who titles video as secrets/hacks/tricks and clings to such elementary, high-level common sense that your grandparents would give.

2. Guy who is just plain wrong. Conjecture, opinion, speculation, advice too colored by past traumatic experiences.

3. Guy who obsesses about the wrong things "missing the point" of the very specific self-help title that he wrote himself.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

Anonymous — Sat, 25 Jul 2020 08:03:58 GMT

@UpperNwGuy wrote:
@Remedios wrote:
If you just got approved for CSP, it takes about 6-8 weeks for marketing to catch up to lending.
OP, this is a key concept for you to understand: the offers you are getting come from the marketing departments at the banks, but the approvals come from the lending departments, so never assume that the right hand knows what the left hand is doing.

That's an interesting concept that I wasn't aware of, even though it makes sense. Thank you for pointing that out.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

Anonymous — Sat, 25 Jul 2020 08:07:29 GMT

UPDATE: Called up the customer support number listed on the website for credit cards and asked if it was possible to be accepted and explained my situation. I was told that it was not impossible but that they could not give me a definitive answer.

Felt ballsy with my credit scores being useless to me for any major applications outside of credit cards (just recently refi'd my student loans), so I pulled the trigger. Was met with a disapproval, but received a letter in the mail today letting me know that I need to provide evidence of my gross income. Hopefully sending them proof (I reported accurately) will get me accepted. Wish me luck!

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

coldfusion — Sat, 25 Jul 2020 09:58:53 GMT

@Anonymous wrote:
YouTubers on CC's is cringeworthy at best. I much prefer it here.

There are a few types:

1. Guy who titles video as secrets/hacks/tricks and clings to such elementary, high-level common sense that your grandparents would give.
2. Guy who is just plain wrong. Conjecture, opinion, speculation, advice too colored by past tramatic experiences.
3. Guy who obsesses about the wrong things "missing the point" of the very specific self-help title that he wrote himself.

It's not just guys, there are women in the game as well. The vast majority of them distill further down to a single type: revenue generators directly through YouTube account monetizaton and in some cases indirectly by using the videos to promote their outside business interests.

More views translates to more revenue from YouTube.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

Aim_High — Sat, 25 Jul 2020 20:09:58 GMT

@Anonymous wrote:
Thanks for the reply. I am pretty unlearned on the time to space things out. Most Youtubers (my intro to the CC hobby) seem to gloss over the space to put between applications (other than 5/24), so I am rather uninformed aside from what I've been gathering and reading here.

... I am not in the market for taking unecessary HPs for a fruitless endeavor ...

Welcome to My Fico Forums, @Anonymous !

Yes, much better advice here than you'll find on "expert" YouTube videos from people who are trying to get views to make a nickel.

Here's a rule of thumb on new applications that seems to work pretty well for most lenders in most situations. If you want to play it conservatively, limit applying for new credit to one time every six months on average, or about 2x per year. Hard inquiries are only "scoreable" for 12 months although they will report for 24 months. Notice if you follow this, you'll even be within Chase's 5/24 which is one of the more strict.

If you do choose to exceed 2x per year to acquire many new accounts, you may be successful (depending on the lender) but then you'll probably need to "garden" for awhile to let the new accounts age. Even with great FICO scores, high income, low debt, it is easy to be denied if you have excessive new accounts. It happened to me recently.

I got five new Chase cards over about 18 months and I tried to space them out with a minimum of 3 months in between. That worked for me with no adverse action from Chase. That is probably the least amount I would recommend. That also makes it easier to meet any SUB spending you want to qualify for.

While I agree with some of our members who point out that the negative effect of 'hard pulls' is overrated, I also agree with your philosophy of not taking unnecessary ones in wreckless pursuit of more credit. I prefer to "save" mine when possible for when they will yield the best results.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

Anonymous — Wed, 29 Jul 2020 15:06:52 GMT

I'm consigned to gardening either way now. Sent in the necessary documents to support my correctly reported income, but was told that faxes take up to two weeks to even be looked at by Chase. Given that I recieved their letter eleven days after my application with the notice stating that they would auto-deny me after fourteen days if I didn't respond, I thought contacting them would help. This morning, I was auto-denied after confirming that they hadn't even looked at my fax yet. Pretty rough.

My SO also tried to apply for the grocery cash back we would like and was auto-rejected, but her account is rather young, but not young enough to warrant an auto rejection on a freedom card. Corona really be hittin.

Re: Specific Chase CCs being shown when I click CCs when logged into my account...

hpatel11 — Sun, 02 Aug 2020 04:45:50 GMT

I would say that you should apply after 3 months at least due to the pandemic situation. Nowadays they might be strict when it comes to applications.

In case of documents, you can reach out to the nearest chase branch, and they can just email the credit card department with all documents, so it would be faster than fax.