topic Re: Is chase easy? in Credit Cards

Is chase easy?

BillyJean — Tue, 27 Aug 2013 14:50:16 GMT

Recently I got approved for a CSP and I was shocked because I always deemed my credit to be pretty bad like 550 range, so last week I ran my report with all three and had about 650 across the board and got CSP with 5k limit and was so happy. I do have chase checking for past three years so that is the only thing I can think helped. That day I tried to get a paypal mastercard just to test the waters and was instant denied. Today I got my letter why and it shows my score at a 560 with good reason, I have a public record and over 5 closed paid as agreed and no active credit.

Now the public record should drop off in the next few months but now I'm afraid to apply for any cards because I am guessing my credit report scores are actully not true. My strategy was in 6 months try to get an increase then apply for chase freedom and every six months get a new card. Now I am thinking I need a secured card and just give up on other cards and be happy that I even got the CSP.

Re: Is chase easy?

shane82388 — Tue, 27 Aug 2013 15:09:02 GMT

Even at 650 you should be happy you got the CSP...especially with $5k limit. I'd not be applying unless you can confirm your in the 650+ range and don't apply for anything for a while anyway...

Re: Is chase easy?

Anonymous — Tue, 27 Aug 2013 15:11:28 GMT

I think Chase has their own risk assessment system that they use as a decision factor. The reason I say that is because I too was in the same boat as you -- had just gotten out of a rough financial situation and was in the process of rebuilding my credit and my score I still don't think deserved the $25k CL that Chase approved me for. The only thing I can think of that could've helped my case was my 6 mo old Chase checking acct with a significant fund (> 4x the approved CL). I had a Wells Fargo visa and a Cap1 MC prior to Chase United but nowhere near the Chase limit.

Re: Is chase easy?

BillyJean — Tue, 27 Aug 2013 15:30:05 GMT

Yeah I'm not, just going to try to get an increase in 6 months as i spend about 3k a month and can pay it off in full. But I pulled my credit from all three and I thought i was in 650 range thats what all three said.

Re: Is chase easy?

shane82388 — Tue, 27 Aug 2013 15:36:27 GMT

That's very strange you scores are mismatching so much...I'd go by what myfico.com says for credit scores...anything else is a fako or an internal/alternate scoring system which is pretty tough to know much about...

Re: Is chase easy?

Anonymous — Tue, 27 Aug 2013 15:39:26 GMT

@shane82388 wrote:
That's very strange you scores are mismatching so much...I'd go by what myfico.com says for credit scores...anything else is a fako or an internal/alternate scoring system which is pretty tough to know much about...

Right, but the problem being it is whatever the lender is using that matters when trying to get credit!

Re: Is chase easy?

SnackTrader — Tue, 27 Aug 2013 16:27:13 GMT

I bet there were different reports pulled. One probably shows a baddie, another probably doesn't.

Which reports were pulled? EQ, TU, EX?

Re: Is chase easy?

shane82388 — Tue, 27 Aug 2013 16:46:13 GMT

Right but if you can't even know what you internal score is you can't do much about it besides try to improve you FICOs and use that as a measuring stick of improvement...

Re: Is chase easy?

GlocksAndCredit — Tue, 27 Aug 2013 17:53:27 GMT

Agreed with all pervious posts and will add......... YMMV

Re: Is chase easy?

KIPPIE12 — Tue, 27 Aug 2013 20:09:13 GMT

Something else to consider if scores are mismatching with FICO/FAKO scores, is that the approval or denial letter will list a different score meaning that issuers use a bankcard enhanced scoring system, usually showing a higher score than what you are seeing. Also, auto financing will usually result in an auto enhanced score

Re: Is chase easy?

Anonymous — Wed, 28 Aug 2013 00:35:16 GMT

I don't think their easy, I recently got approved for a CSP also, Really wanted a Citi HH reserve but they didn't like my inquires so i did the next best thing, got a CSP and i'll wait 90 and re-apply for the reserve card