topic Re: Chase IHG question in Credit Cards

Chase IHG question

slap_happy — Thu, 28 Nov 2013 06:48:17 GMT

Hi, my DW wants to apply for this card, her stats are:
No baddies, 1.9 years aaoa, 28% util. Now she has over 15000 in credit across all her lines but on her discover she is at 83% util. Due to a recent balance transfer. She has no history with chase beside being an Au on my freedom since 3 years now. Scores are rigjt at 700, does she have a shot?

Also, what is the difference with the non siggy of this card? Just in case she gets that it would be nice to know

Re: Chase IHG question

Revelate — Thu, 28 Nov 2013 06:52:46 GMT

I don't know anything about that card in particular, but doesn't seem like it's much of a stretch from an underwriting perspective for the other Chase co-branded hotel cards.

Might be worth waiting till AAoA hit 2 years flat (as that's the first bonus time for that calculation, everything below that is set at 1 year) for a possible boost but other than that is reasonable to apply if it makes sense from a rewards perspective.

I'd assume siggy vs. non is the typical siggy benefits.

Re: Chase IHG question

Creditaddict — Thu, 28 Nov 2013 07:05:04 GMT

I'd apply, think it has great bonus right now.

Re: Chase IHG question

djc1puno — Thu, 28 Nov 2013 07:15:30 GMT

@Revelate wrote:
I don't know anything about that card in particular, but doesn't seem like it's much of a stretch from an underwriting perspective for the other Chase co-branded hotel cards.

Might be worth waiting till AAoA hit 2 years flat (as that's the first bonus time for that calculation, everything below that is set at 1 year) for a possible boost but other than that is reasonable to apply if it makes sense from a rewards perspective.

I'd assume siggy vs. non is the typical siggy benefits.

+1...the 83 percent UTIL might be a bit of a problem right now as well...i'm inclined to say that maybe wait a few months for the util to drop while upping her AAOA a bit...then app...IMHO

Re: Chase IHG question

FinStar — Thu, 28 Nov 2013 07:45:44 GMT

@djc1puno wrote:
@Revelate wrote:
I don't know anything about that card in particular, but doesn't seem like it's much of a stretch from an underwriting perspective for the other Chase co-branded hotel cards.

Might be worth waiting till AAoA hit 2 years flat (as that's the first bonus time for that calculation, everything below that is set at 1 year) for a possible boost but other than that is reasonable to apply if it makes sense from a rewards perspective.

I'd assume siggy vs. non is the typical siggy benefits.
+1...the 83 percent UTIL might be a bit of a problem right now as well...i'm inclined to say that maybe wait a few months for the util to drop while upping her AAOA a bit...then app...IMHO

And, the profile may be more optimal at that point to qualify or be elegible for their Visa Signature vs. Platinum version, but that level of benefit in it of itself is just powdered sugar on a donut, just makes it sweeter.

Re: Chase IHG question

Anonymous — Thu, 28 Nov 2013 09:30:21 GMT

+3. I would recommend you lower that utilization on discover. She probably will still get approved regardless, but the maxed out discover will probably result in a lower CL.

Re: Chase IHG question

slap_happy — Thu, 28 Nov 2013 13:29:53 GMT

thanks for the advice and I do agree that she should wait but the thing is that we are going to NYC at the end of febuary and we can get 2 nights in an IC hotel for free with the 80k point sign up bonus which is really sweet, that would save us almost $800! so that is our situation but otherwise I would tell her also to wait till summer.

but not sure how long that 80k sign up bonus is going to be around either makes it tough

Re: Chase IHG question

GetTheFico — Thu, 28 Nov 2013 13:50:55 GMT

I was recently approved for this card with scores lower than hers & negatives items listed on my EQ which is what Chase pulled. My utilization was probably around 1-5% and I have no history with Chase.

Received a limit of $3,500.

Re: Chase IHG question

slap_happy — Thu, 28 Nov 2013 13:54:07 GMT

@GetTheFico wrote:
I was recently approved for this card with scores lower than hers & negatives items listed on my EQ which is what Chase pulled. My utilization was probably around 1-5% and I have no history with Chase.

Received a limit of $3,500.

congrats... did you still get the free annual night even though you didnt get the siggy?

Re: Chase IHG question

GetTheFico — Thu, 28 Nov 2013 16:24:45 GMT

@slap_happy wrote:
@GetTheFico wrote:
I was recently approved for this card with scores lower than hers & negatives items listed on my EQ which is what Chase pulled. My utilization was probably around 1-5% and I have no history with Chase.

Received a limit of $3,500.
congrats... did you still get the free annual night even though you didnt get the siggy?

Yes, I believe the free annual night is for all card holders regardless of whether or not you get the signature version.

I won't receive the free night voucher until my one year anniversary though.

Re: Chase IHG question

slap_happy — Thu, 28 Nov 2013 18:04:52 GMT

well, turkey was in the oven, egg nog in cup, kids making noise etc....so figured what better time to do this lol, so we pulled the trigger and lo and behold, she got instantly approved! great, I figured at least a $2-3 CL, but we really only wanted the points and annual free night...called the automated status and she got approved for a siggy with a $15000 CL!!!! something is just not right with that, be were not complaing... im now wondering what I would get approved for?? my file is so much better then hers.

Re: Chase IHG question

Creditaddict — Thu, 28 Nov 2013 18:11:55 GMT

@slap_happy wrote:
well, turkey was in the oven, egg nog in cup, kids making noise etc....so figured what better time to do this lol, so we pulled the trigger and lo and behold, she got instantly approved! great, I figured at least a $2-3 CL, but we really only wanted the points and annual free night...called the automated status and she got approved for a siggy with a $15000 CL!!!! something is just not right with that, be were not complaing... im now wondering what I would get approved for?? my file is so much better then hers.

HAHA... and we had how many people say NO APPLY... you all need to chill sometimes with your 1 high util account killing all

Congrats!

Re: Chase IHG question

Revelate — Thu, 28 Nov 2013 18:30:28 GMT

@Creditaddict wrote:
@slap_happy wrote:
well, turkey was in the oven, egg nog in cup, kids making noise etc....so figured what better time to do this lol, so we pulled the trigger and lo and behold, she got instantly approved! great, I figured at least a $2-3 CL, but we really only wanted the points and annual free night...called the automated status and she got approved for a siggy with a $15000 CL!!!! something is just not right with that, be were not complaing... im now wondering what I would get approved for?? my file is so much better then hers.
HAHA... and we had how many people say NO APPLY... you all need to chill sometimes with your 1 high util account killing all
Congrats!

Incredibly few if you read the thread . Several said looks reasonable but if you wait for a bit you can likely do better. Likewise I would suggest the converse of pushing one's markers doesn't work either in all cases, though on the whole at least with my posting think you'd find I'm typically one of the more vocal in the "dude, just go do it" crowd.

In any event, OP that is a smashing approval! I am sort of curious if typical travel cards around the travelling season grant larger limits than say cards in January. Consumers are used to spending and paying back holiday borrowing and as such maybe the time of year does make some difference in the risk analysis. Curiosity item at least.

Re: Chase IHG question

slap_happy — Thu, 28 Nov 2013 18:37:11 GMT

that

@Revelate wrote:
@Creditaddict wrote:
@slap_happy wrote:
well, turkey was in the oven, egg nog in cup, kids making noise etc....so figured what better time to do this lol, so we pulled the trigger and lo and behold, she got instantly approved! great, I figured at least a $2-3 CL, but we really only wanted the points and annual free night...called the automated status and she got approved for a siggy with a $15000 CL!!!! something is just not right with that, be were not complaing... im now wondering what I would get approved for?? my file is so much better then hers.
HAHA... and we had how many people say NO APPLY... you all need to chill sometimes with your 1 high util account killing all
Congrats!
Incredibly few if you read the thread . Several said looks reasonable but if you wait for a bit you can likely do better. Likewise I would suggest the converse of pushing one's markers doesn't work either in all cases, though on the whole at least with my posting think you'd find I'm typically one of the more vocal in the "dude, just go do it" crowd.

In any event, OP that is a smashing approval! I am sort of curious if typical travel cards around the travelling season grant larger limits than say cards in January. Consumers are used to spending and paying back holiday borrowing and as such maybe the time of year does make some difference in the risk analysis. Curiosity item at least.

that is a good point, I am still shocked that she got that high of a CL due to that her highest was $3k, she has no siggys, no relationship with chase and high util on the discover... I guess its one of those wow type of apps, probably wont happen to her again lol. but this really helps out her portfolio, she now has a relationship with chase and a high line that might cause her others to bump up and we still got the 80k points and free night annually!!

Re: Chase IHG question

GetTheFico — Thu, 28 Nov 2013 18:45:50 GMT

Very nice starting limit. The platinum status will come in handy.