topic Re: How Important is Relationship to Chase? in Credit Cards

How Important is Relationship to Chase?

ToxikPH — Sat, 26 Sep 2020 20:50:32 GMT

I'm thinking of re-opening a Chase checking and opening a YouInvest account to build up a relationship in order to be better suited for an approval once I'm under 5/24. Is a relationship important at all for their cards or am I fine without opening the accounts?

Re: How Important is Relationship to Chase?

Anonymous — Sat, 26 Sep 2020 20:56:48 GMT

A previous relationship will usually help. US Bank is notorious for being unwilling to extend credit to people that don't have a previous relationship with them. Chase isn't nearly as picky, so having a previous relationship could help but is far from a necesity. It all depends on your credit profile and any previous issues with them. Which card were you thinking of?

Re: How Important is Relationship to Chase?

OmarGB9 — Sat, 26 Sep 2020 23:25:06 GMT

I don't think it makes any difference, unless you're a JP Morgan Private Client and have substantial assets with them, then maybe.

Re: How Important is Relationship to Chase?

kdm31091 — Sat, 26 Sep 2020 21:08:23 GMT

Generally I think relationship with Chase is basically irrelevant to them unless you have a ton of assets invested. A simple checking or savings does not seem to move the needle much in most cases. As always with credit, few hard and fast rules and YMMV but I think relationship is far less important to Chase as it is to say, US Bank or even Wells Fargo. I wouldn't rush to get an account with Chase to improve approval odds. Have not heard of a lot of denials from Chase, if any, being caused by lack of relationship.

It seems once you meet the 5/24 criteria, approvals with Chase are not all that difficult anyway.

Re: How Important is Relationship to Chase?

importxpresions — Sat, 26 Sep 2020 22:34:54 GMT

I know plenty of chase card holders who don't have personal accounts with them. Can't hurt, imo not necessary

Re: How Important is Relationship to Chase?

Anonymous — Sat, 26 Sep 2020 22:41:00 GMT

@Anonymous wrote:
A previous relationship will usually help. US Bank is notorious for being unwilling to extend credit to people that don't have a previous relationship with them.

That is only officially true for the Altitude Reserve. I know UW has got tougher lately but is that true for other cards? I got the impression the issue was more they were very sensitive to new accounts.

Re: How Important is Relationship to Chase?

Anonymous — Sat, 26 Sep 2020 23:02:34 GMT

@Anonymous wrote:
@Anonymous wrote:
A previous relationship will usually help. US Bank is notorious for being unwilling to extend credit to people that don't have a previous relationship with them.
That is only officially true for the Altitude Reserve. I know UW has got tougher lately but is that true for other cards? I got the impression the issue was more they were very sensitive to new accounts.

You are probably right. I might be overestimating how sensitive they are. I don't have any personal experience to speak of so it's mostly anecdotal.

Re: How Important is Relationship to Chase?

Anonymous — Sat, 26 Sep 2020 23:15:56 GMT

I had no previous relationship with Chase and I have 2 Chase cards. If you look like a good credit risk, that will substantially outweigh any relationship outside a large wealth relationship with them.

Re: How Important is Relationship to Chase?

Wavester64 — Sat, 26 Sep 2020 23:20:16 GMT

@ToxikPH wrote:
I'm thinking of re-opening a Chase checking and opening a YouInvest account to build up a relationship in order to be better suited for an approval once I'm under 5/24. Is a relationship important at all for their cards or am I fine without opening the accounts?

IMHO, with CHASE, not important at all. I've been with them for decades and they never offer me a CC. Yet they are constantly spamming me for Private Client which I could never afford. I say you're better off applying for a CC without a relationship as long as your under 5/24. Good luck👍

Re: How Important is Relationship to Chase?

coldfusion — Sat, 26 Sep 2020 23:26:09 GMT

From Chase' perspective you aren't officially dating until you bring at least $2 million to the table, if you want a relationship show up with at least $10 million.

Having checking/savings doesn't hurt so if it's convenient for you to do so go ahead and open accounts but don't expect that it will materially influence your ability to obtain credit from them.

Re: How Important is Relationship to Chase?

Remedios — Sat, 26 Sep 2020 23:31:04 GMT

Maybe it's just me, but whenever a lender and relationship are mentioned in the same sentence, I feel like crying.

Re: How Important is Relationship to Chase?

Anonymous — Sat, 26 Sep 2020 23:50:12 GMT

While there may be lenders that require a relationship (sorry, @Remedios ) IMO a lot of the belief comes from situations where:

1) A applies for a card from Bank B and gets rejected

2) A then opens a checking account or whatever at B

3) After a while, A applies for the card again and gets accepted! You see, I told you relationships matter!

This of course neglects other factors that might matter much more, such as improving credit file over time, increasing income etc

Plus, ignoring the large number of people who successfully apply without any prior relationship

Re: How Important is Relationship to Chase?

TSlop — Sun, 27 Sep 2020 00:00:22 GMT

@Anonymous wrote:
I had no previous relationship with Chase and I have 2 Chase cards. If you look like a good credit risk, that will substantially outweigh any relationship outside a large wealth relationship with them.

I had no relationship with Chase and I got my first card with them in January of 2018 by a cold app that was instantly approved. I think a banking relationship couldn't hurt, but I'm willing to bet the credit profile is most important.

Re: How Important is Relationship to Chase?

Remedios — Sun, 27 Sep 2020 00:28:06 GMT

@Anonymous wrote:
While there may be lenders that require a relationship (sorry, @Remedios ) IMO a lot of the belief comes from situations where:

1) A applies for a card from Bank B and gets rejected
2) A then opens a checking account or whatever at B
3) After a while, A applies for the card again and gets accepted! You see, I told you relationships matter!
This of course neglects other factors that might matter much more, such as improving credit file over time, increasing income etc

Plus, ignoring the large number of people who successfully apply without any prior relationship

I guess it is a relationship. Internet is a must, app enhances the experience, you never talk, and all it takes is one incident before left-swipe and move on to the next apptionship.

Their loss.

Re: How Important is Relationship to Chase?

Anonymous — Sun, 27 Sep 2020 00:39:36 GMT

@Remedios wrote:
@Anonymous wrote:
While there may be lenders that require a relationship (sorry, @Remedios ) IMO a lot of the belief comes from situations where:

1) A applies for a card from Bank B and gets rejected
2) A then opens a checking account or whatever at B
3) After a while, A applies for the card again and gets accepted! You see, I told you relationships matter!
This of course neglects other factors that might matter much more, such as improving credit file over time, increasing income etc

Plus, ignoring the large number of people who successfully apply without any prior relationship

I guess it is a relationship. Internet is a must, app enhances the experience, you never talk, and all it takes is one incident before left-swipe and move on to the next apptionship.

Their loss.

Every time someone closes a credit card, as "Closed by Consumer" is entered in the file, an angel dies. So it is everybody's loss. Well, the angel's in particular but still.....

Re: How Important is Relationship to Chase?

CreditJourney007 — Sun, 27 Sep 2020 00:45:17 GMT

Well, I've been with them for 15 years and they hate me, so

Re: How Important is Relationship to Chase?

Meanmchine — Sun, 27 Sep 2020 01:02:24 GMT

Once a week I check my "Just For You" tab for any Preapproval / Preselected offers. You cant do that without a Chase account

Re: How Important is Relationship to Chase?

K-in-Boston — Sun, 27 Sep 2020 01:04:45 GMT

@Meanmchine wrote:
Once a week I check my "Just For You" tab for any preapproval / Preselected offers. You cant do that without a Chase account

Chase Credit Journey is available to anyone and has the same offers. Definitely agree with others that outside of having millions with Chase, it likely makes zero difference. JP Morgan Reserve would be the sole card where a "relationship" is required.

Re: How Important is Relationship to Chase?

Hoben02 — Sun, 27 Sep 2020 01:02:58 GMT

It can't hurt in my case I've gotten all my chase cards when I was over 5/24. Just recently got the swa card and it put me at 5/24 and a week later decided to get the chase freedom and no issues.

Re: How Important is Relationship to Chase?

OmarGB9 — Sun, 27 Sep 2020 01:09:46 GMT

@Hoben02 wrote:
It can't hurt in my case I've gotten all my chase cards when I was over 5/24. Just recently got the swa card and it put me at 5/24 and a week later decided to get the chase freedom and no issues.

No issues so far, maybe, but wait a few months and hopefully it'll still be okay.