topic Re: Chase Pre-Approvals in Credit Cards

Chase Pre-Approvals

Harvey26 — Wed, 17 Jan 2024 16:42:01 GMT

Been banking with Chase for a while. They are my primary bank. Large amount in savings, DD , all that good stuff. But I havent seen any preapprovals for any chase cards. I have really be wanting the Chase Sapphire Reserve as I have recently picked up traveling alot more personally as well as with work. Now to be fair I am over 5/24 , currently sitting at 16/24... at years end I will be at 9/24. I know there are people who still get preapprovals when over 5/24 and I went in branch and they said I have offers but I know there are no more than just that and offer to apply but they arent actual preapprovals or already approved offers. Is there an estimated timeframe for me to start seeing them ? I have recently paid off a personal loan and some other debt so only remaining debt I have is my car and just standard card balances from month to month.

Re: Chase Pre-Approvals

GZG — Wed, 17 Jan 2024 16:56:28 GMT

@Harvey26 wrote:
Been banking with Chase for a while. They are my primary bank. Large amount in savings, DD , all that good stuff. But I havent seen any preapprovals for any chase cards. I have really be wanting the Chase Sapphire Reserve as I have recently picked up traveling alot more personally as well as with work. Now to be fair I am over 5/24 , currently sitting at 16/24... at years end I will be at 9/24. I know there are people who still get preapprovals when over 5/24 and I went in branch and they said I have offers but I know there are no more than just that and offer to apply but they arent actual preapprovals or already approved offers. Is there an estimated timeframe for me to start seeing them ? I have recently paid off a personal loan and some other debt so only remaining debt I have is my car and just standard card balances from month to month.

yeah, when you're under 5/24

if you're a private client and you have a person there, you could always talk to them and maybe they could get around the typical rules but that's a complete ymmv situation

I've heard of people between 5-9/24 getting approved for elevated csp offers and for the amazon card and maybe in-branch pre-approvals that don't appear on the account on our side, but that's it

certainly not 16/24

Re: Chase Pre-Approvals

SouthJamaica — Wed, 17 Jan 2024 17:01:18 GMT

@Harvey26 wrote:
Been banking with Chase for a while. They are my primary bank. Large amount in savings, DD , all that good stuff. But I havent seen any preapprovals for any chase cards. I have really be wanting the Chase Sapphire Reserve as I have recently picked up traveling alot more personally as well as with work. Now to be fair I am over 5/24 , currently sitting at 16/24... at years end I will be at 9/24. I know there are people who still get preapprovals when over 5/24 and I went in branch and they said I have offers but I know there are no more than just that and offer to apply but they arent actual preapprovals or already approved offers. Is there an estimated timeframe for me to start seeing them ? I have recently paid off a personal loan and some other debt so only remaining debt I have is my car and just standard card balances from month to month.

In my opinion, no there is no estimated time frame, but once you get down to 4/24 you will start seeing them.

Re: Chase Pre-Approvals

JoeRockhead — Wed, 17 Jan 2024 17:12:19 GMT

I'd say you being so far above 5/24 is the main issue here.

Re: Chase Pre-Approvals

elboullee — Wed, 17 Jan 2024 20:09:12 GMT

I have all of that as well - checking, savings, investment, direct deposit. And I opened my Chase bank accounts and my first Chase card - the Freedom Flex - on the same day.

Credit scores in the mid 700s, significant funds in my accounts, no lates or misseds, less than one percent utilization, more than a year of recent credit history, but month after month after month, no offers.

Then, pretty much to the day my Chase accounts all hit one year, I woke up to find that I was 'pre-approved'/'already approved' for every Chase card - personal and business.

Anecdote or data point, I don't know.

Re: Chase Pre-Approvals

markhs777 — Thu, 18 Jan 2024 08:36:20 GMT

Just apply, you do significant business with them. What's the worst possible senario? Another hard inquiry which in your case won't have much affect.

Re: Chase Pre-Approvals

SouthJamaica — Thu, 18 Jan 2024 14:22:43 GMT

@markhs777 wrote:
Just apply, you do significant business with them. What's the worst possible senario? Another hard inquiry which in your case won't have much affect.

Not a good idea. At 16/24 OP has no chance of an approval.

Re: Chase Pre-Approvals

ThomasJNewton — Sat, 20 Jan 2024 18:23:24 GMT

@Harvey26 wrote:
Been banking with Chase for a while.

How about some more information to make it easier to understand the whole picture? What do you consider “a while”?

They are my primary bank. Large amount in savings, DD , all that good stuff.

When you say “[l]arge amount in savings” and direct deposit, what order of magnitude are you discussing? Tens of thousands? Hundreds of thousands? More? Direct Deposit of over $5K a month? $10K a month? More?

Now to be fair I am over 5/24 , currently sitting at 16/24... at years end I will be at 9/24.

What is your FICO score? What other cards do you have? How much credit do you have? What is your Average Age of Accounts? Age of Oldest Account? There is a big difference between a profile that is 16/24 with an AAoA of 18 months and one with an AAoA of 12 years even with your 16/24. From everything I have seen/read on here, credit seeking is something that scares them a lot.

I know there are people who still get preapprovals when over 5/24

While there seem to be offers for people slightly over 5/24, I have not seen anyone say they either got pre-approved or got a card issued anywhere close to your numbers. Even 9/24 seems pretty unlikely.

I went in branch and they said I have offers but I know there are no more than just that and offer to apply but they arent actual preapprovals

You “know” that because they told you that or because you intuit that?

Is there an estimated timeframe for me to start seeing them?

Chase pre-approvals seem to come when they feel your profile matches their criteria, it is not about time (although they seem to want you to match for more than a single month before they will consider it a true match).

I have recently paid off a personal loan and some other debt so only remaining debt I have is my car and just standard card balances from month to month.

When you say “standard card balances” what do you mean? Do you run balances on some of your cards? All of your cards? What is your total utilization and your utilization by card? Are you paying interest on any of them?

Without a lot more information about your profile, I am not sure how much help anyone here can really be.

Re: Chase Pre-Approvals

ThomasJNewton — Sat, 20 Jan 2024 18:28:35 GMT

@SouthJamaica wrote:
@markhs777 wrote:
Just apply, you do significant business with them. What's the worst possible senario? Another hard inquiry which in your case won't have much affect.
Not a good idea. At 16/24 OP has no chance of an approval.

Drawing attention to oneself when one is so outside their acceptance criteria, seems like a bad idea. @markhs777 , the worst scenario is that they decide one is a risk and close one's accounts. Not likely in this context, but there are stories on here of Chase doing that.

A more likely but still bad result would be something that some issuers do (I do not know about Chase) - put you in "jail" for a period after a negative decision against you.

Re: Chase Pre-Approvals

markhs777 — Sat, 20 Jan 2024 21:42:19 GMT

@ThomasJNewton wrote:
@SouthJamaica wrote:
@markhs777 wrote:
Just apply, you do significant business with them. What's the worst possible senario? Another hard inquiry which in your case won't have much affect.
Not a good idea. At 16/24 OP has no chance of an approval.
Drawing attention to oneself when one is so outside their acceptance criteria, seems like a bad idea. @markhs777 , the worst scenario is that they decide one is a risk and close one's accounts. Not likely in this context, but there are stories on here of Chase doing that.

A more likely but still bad result would be something that some issuers do (I do not know about Chase) - put you in "jail" for a period after a negative decision against you.

You make a legit point however if the applicant has large deposits at Chase it's amazing what a personal banker at a branch may be able to do for you if there are are valid reasons for the hards.

Re: Chase Pre-Approvals

ThomasJNewton — Sun, 21 Jan 2024 06:51:56 GMT

@markhs777 wrote:
You make a legit point however if the applicant has large deposits at Chase it's amazing what a personal banker at a branch may be able to do for you if there are are valid reasons for the hards.

Remember that “large” to you, may be very different from “large” to me and even more different from “large” to Chase. Given that the original poster did not mention Private Client, and also said that the branch did not make any pre-approvals, it is not that likely that he has that kind of clout.

Once OP clarifies some things, it will be easier to make recommendations. My biggest concern is that while OP would like the latter to be true (he is important enough to make Chase waive everything), the former (applying now can only be negative) is more likely.

Re: Chase Pre-Approvals

ThomasJNewton — Thu, 25 Jan 2024 04:24:14 GMT

@Harvey26 Curious what you decided and what your results were (if you already tried something)....

Re: Chase Pre-Approvals

Harvey26 — Thu, 25 Jan 2024 15:01:02 GMT

@ThomasJNewton I am currently just gardening. I am not going to dare waste a HP or 2. When it seems like a for sure denial. If they give me a preapproved or already approved offer then I would consider responding but as far now going to garden very hard. The real goal is no more HPs or Accounts for at least 2 years or more. I do plan on moving in the spring so that might be a HP but I majority of all of my HPs coming off this year so it should balance out.