topic Re: Chase Prequalify Tool Question in Credit Cards

Chase Prequalify Tool Question

wildboys — Wed, 09 Jun 2021 08:24:14 GMT

I am interested in applying for the Chase Sapphire Perferred Card. When I use their prequalify tool, I get this message.

We are unable to locate any offers for you at this time.

This may be because you have opted out of "pre-screened" offers from Chase and other companies or you have recently responded to another offer from Chase.
However we may still have products to meet your needs.I have one Inquiry on my Experian CR. I presently have NFCU more rewards with $25000 CL

NFCU Visa Flagship 25000 CL

FNBO Evergreen Visa 15000 CL. Since I do not prequalify, what are my chances of being approved for the Sapphire Card.

EX fico-809

EQ fico-802

I don't want to use a hard Inquiry if my chance of approval is low.

Re: Chase Prequalify Tool Question

tcbofade — Wed, 09 Jun 2021 08:45:01 GMT

How many revolving accounts have you opened in the last 24 months?

You list three cards, if that is all you have, you should be fine to apply for Chase.

Remember, even accounts that you've closed count in the 5/24 rule. (If you've opened five or more revolving accounts in the last 24 months, it's an auto denial for all things Chase!)

Good luck!

Re: Chase Prequalify Tool Question

wildboys — Wed, 09 Jun 2021 08:52:19 GMT

@tcbofade wrote:
How many revolving accounts have you opened in the last 24 months?

You list three cards, if that is all you have, you should be fine to apply for Chase.

Remember, even accounts that you've closed count in the 5/24 rule. (If you've opened five or more revolving accounts in the last 24 months, it's an auto denial for all things Chase!)

Good luck!

I have a 20 year old AU account. Would this be considered a new account?

Re: Chase Prequalify Tool Question

Brian_Earl_Spilner — Wed, 09 Jun 2021 11:43:47 GMT

If you were added to it in the last 24 months, yes, but that can be reconned. Not that you'd need it as you'd still be under 5/24

Re: Chase Prequalify Tool Question

Ficoproblems247 — Wed, 09 Jun 2021 12:44:12 GMT

Their pre-approval tool seems to do this for a lot of people, even if you have not "opted out" of offers. I am not sure of the reasoning, but it definitely is not necessarily an indicator of a denial. I agree that I think you have a very solid chance of approval for any Chase card you wanted to pull the trigger on. If you would like a bit more peace of mind before applying, stop by a branch as they are able to run a pre-approval check there that is very reliable.

Re: Chase Prequalify Tool Question

SouthJamaica — Wed, 09 Jun 2021 15:22:49 GMT

@wildboys wrote:
I am interested in applying for the Chase Sapphire Perferred Card. When I use their prequalify tool, I get this message.
We are unable to locate any offers for you at this time.
This may be because you have opted out of "pre-screened" offers from Chase and other companies or you have recently responded to another offer from Chase.
However we may still have products to meet your needs.I have one Inquiry on my Experian CR. I presently have NFCU more rewards with $25000 CL
NFCU Visa Flagship 25000 CL
FNBO Evergreen Visa 15000 CL. Since I do not prequalify, what are my chances of being approved for the Sapphire Card.
EX fico-809
EQ fico-802
I don't want to use a hard Inquiry if my chance of approval is low.

Your chances of being approved are excellent, assuming a decent income.

BTW it could be more than one HP; Chase is known to frequently double pull.

Re: Chase Prequalify Tool Question

babygirl1256 — Wed, 09 Jun 2021 16:03:09 GMT

Greetings wildboys ~ I received the same message early this morning from Chase and posted it also. I don't think that you would have a problem being approved as you've got great scores. My FICO 8 Score is 812 and I'm debating on applying or waiting until 6/2022.

Re: Chase Prequalify Tool Question

GatorGuy — Wed, 09 Jun 2021 16:57:47 GMT

Chase shows that for my wife and me. Wife was just approved last week for their Bonvoy card despite this message.

With your history, if you are under 5/24 then you are fine.

Re: Chase Prequalify Tool Question

jwa77 — Wed, 09 Jun 2021 17:13:00 GMT

When I was approved 2 years ago for both CSP and CFU; that tool showed that same message--yet when I was logged in, I had "pre-qualified" banners across both of the cards. I think that tool is broken lol

Re: Chase Prequalify Tool Question

Remedios — Wed, 09 Jun 2021 17:49:14 GMT

@wildboys if I read your nfcu approval post correctly, without AU account (chase will strip that one during application process) your oldest account is not even 4 months "old", correct?

Also, that implies you have 3 accounts under 4 months, is that also correct?

Re: Chase Prequalify Tool Question

jcooks — Wed, 09 Jun 2021 18:00:11 GMT

3 cards in 4 months with an otherwise very thin profile, Chase might not like that. I would suggest, give it some time for the accounts to grow before applying.

Re: Chase Prequalify Tool Question

wildboys — Wed, 09 Jun 2021 18:32:08 GMT

@Remedios wrote:
@wildboys if I read your nfcu approval post correctly, without AU account (chase will strip that one during application process) your oldest account is not even 4 months "old", correct?

Also, that implies you have 3 accounts under 4 months, is that also correct?

My oldest Primary account is 7 months old.My reports states my AU account was open in 2002 on all three bureaus.If all 3 bureaus report the AU was open in 2002, doesn't chase see the same thing when it looks at my report? My reports says AAOA as 4 years.

Re: Chase Prequalify Tool Question

jcooks — Wed, 09 Jun 2021 19:33:49 GMT

If I'm not mistaken, most lenders discount any AU as part of their evaluation when reviewing.

Re: Chase Prequalify Tool Question

Anonymous — Wed, 09 Jun 2021 19:45:27 GMT

@wildboys wrote:
@Remedios wrote:
@wildboys if I read your nfcu approval post correctly, without AU account (chase will strip that one during application process) your oldest account is not even 4 months "old", correct?

Also, that implies you have 3 accounts under 4 months, is that also correct?
My oldest Primary account is 7 months old.My reports states my AU account was open in 2002 on all three bureaus.If all 3 bureaus report the AU was open in 2002, doesn't chase see the same thing when it looks at my report? My reports says AAOA as 4 years.

Chase wants 12 months of personal history before they will approve usually.

Re: Chase Prequalify Tool Question

Remedios — Wed, 09 Jun 2021 19:58:45 GMT

@wildboys wrote:
@Remedios wrote:
@wildboys if I read your nfcu approval post correctly, without AU account (chase will strip that one during application process) your oldest account is not even 4 months "old", correct?

Also, that implies you have 3 accounts under 4 months, is that also correct?
My oldest Primary account is 7 months old.My reports states my AU account was open in 2002 on all three bureaus.If all 3 bureaus report the AU was open in 2002, doesn't chase see the same thing when it looks at my report? My reports says AAOA as 4 years.

They do see it but they see someone else's payment history, so their algorithm strips it, so your profile and your payment history can be evaluated on its own merit.

AU accounts artificially inflate age of your credit, increasing the score in the process over something you had nothing to do with. That's why a lot of lenders will ignore them, Chase being one of them.

You can try of course, it would be interesting data point either way.

Re: Chase Prequalify Tool Question

wildboys — Wed, 09 Jun 2021 22:54:53 GMT

@Remedios wrote:
@wildboys wrote:
@Remedios wrote:
@wildboys if I read your nfcu approval post correctly, without AU account (chase will strip that one during application process) your oldest account is not even 4 months "old", correct?

Also, that implies you have 3 accounts under 4 months, is that also correct?
My oldest Primary account is 7 months old.My reports states my AU account was open in 2002 on all three bureaus.If all 3 bureaus report the AU was open in 2002, doesn't chase see the same thing when it looks at my report? My reports says AAOA as 4 years.
They do see it but they see someone else's payment history, so their algorithm strips it, so your profile and your payment history can be evaluated on its own merit.

AU accounts artificially inflate age of your credit, increasing the score in the process over something you had nothing to do with. That's why a lot of lenders will ignore them, Chase being one of them.

You can try of course, it would be interesting data point either way.

I was interested because of the 5/24 rule. Since I already have 3 other cards, I have almost reached it before I apply for one of their products. I think Iwill just garden for now.