@Brian_Earl_Spilner wrote:
@SarahJo wrote:
@keekers wrote:
@Brian_Earl_Spilner wrote:
They use an internal scoring system called CARS v2.
I thought Chase wasn't moved at all by having a relationship with them (e.g. Chase products)? Or do they just take existing credit report info and do their own math on it to arrive at their internal score?
Chase is absolutely influenced by the relationship and products you have with them. They do use their internal score, which is mainly based on Experian. The big however is, it is regionally dependent. Northeast, Southwest, etc. can be different CB's pulled. Also, Chase may pull two bureaus...meaning EX is pulled, but if your app is needing a lil more confirmation TU will be pulled as well for data (do a search on the forums for your area you should find some data points, people here are great about that). One of the best ways, in my observance and experience, is to open a Chase checking account if you have no previous relationship with them. Depending on your score it may be needed. In my case, I've cold apped every Chase product I have, except for my second car loan, that I was preapproved for. My husband, whose scores are significantly lower than mine (he is learning 'the way" and starting to reap the benefits!) opened a Chase checking account and around 4 months later started receiving preapprovals (Green star, states approved limit) to accept. One month ago he accepted the Unlimited offer and yesterday he just got a Subaru car loan through Chase! Hope this helps!
As a former Chase corporate employee, I can assure you that they do not take relationships into account. This extends to private clients. Unless you're carrying a JP Morgan Reserve, you will be handled on the merits of your reports and internal score.
Actually @Brian_Earl_Spilner, the above statement is not entirely accurate. I would imagine you didn't work in the marketing, strategy or servicing aspects of Card or Commercial Card (Paymentech) divisions, otherwise you would know.
Having done some extensive large scale projects for Chase (even going back to the Bank One/FirstUSA legacy), they do consider some aspects of the product relationship but it depends on client segments. Having a vehicle loan isn't one of those channels for instance, but on the deposit or investment side, there are opportunities. This also depends on the type of client relationship as well. Obviously, having $100 sitting in a checking account or $500 in a savings account isn't going to place a customer on the radar, but depending on a variety of marketing campaigns and card acquisition strategies, there's some leverage for some prospective clients.
From personal experience, and before 5/24 was enforced across all products, one of the items that was mentioned when I was approved for one of their business cards (on judgemental override), was the existing CPC relationship that was able to get me across the line. They already knew income was more than sufficient, I already had several CCs with them, and internal exposure hadn't been reached yet.
So, in a way, @SarahJo's comments are on point.
