CSP DECLINED with 740 Credit Score?! Really, CHASE?!

[nitrov]

I used the link from the prequalified email offer I got. As far as I'm concerned, denying someone with a 740-750 credit score and solid credit profile due to a rule like 5/24 when you're approving people with 660 credit scores solely because they have <5 new accounts in 24 months makes no sense. But yes, it's beating a very dead horse. We'll see what they're calling me about and see if something happens after all this debate.

[redpat]

The 5/24 rule has nothing to do with someone's score. Chase is simply looking for better customers for card usage (swipes). So yes, a score of 660 with three cards is better than a 750 and 10 cards in their eyes.

This could also be the reason that the interest rates have changed on their cards.

But they may approve you anyway because you have a banking relationship.

[nitrov]

Called them back since I didn't hear back for 2 days. Turns out it was for verification, but for the Marriott card. Though I heard 5/24 was going on for co-branded cards as of April 1, the credit analyst I spoke to said it's not happening yet. So I did the verification stuff and they said I should get my Marriott card in 1-2 weeks. They didn't say I was approved or what the CL was, but she did say I'd be getting my new card...kind of confusing but ok. Better than a wasted HP!

[nitrov]

@gmood1 so glad I listened to you. Just logged into Chase.com and checked my accounts and turns out I was approved for the Marriott card with a $25k CL!!! woooooooo!

Still so silly they'd give me another $11.5k on freedom and $25K on Marriott but not a silly CSP card LOL but oh well! Thanks to you the HP went to good use! Love these forums

[KSK1912]

---

@nitrov wrote:
@Gmood1 so glad I listened to you. Just logged into Chase.com and checked my accounts and turns out I was approved for the Marriott card with a $25k CL!!! woooooooo!

Still so silly they'd give me another $11.5k on freedom and $25K on Marriott but not a silly CSP card LOL but oh well! Thanks to you the HP went to good use! Love these forums

---

So what is the final verdict on the csp? Is it still pending or has it been denied? Congrats on the Mariott and the nice cli.

[nitrov]

Looks like the CSP isn't getting approved. When I call the status line it still says under review 2 weeks but when I asked the credit analyst she will said the 5/24 rule isn't something they can override. So I dunno, pretty sure there's no point in continuing to escalate despite how stupid I think it all is.

[Sexyblue]

This post is Epic…

Chase 5/24 rule I think rest on predictive analytics or machine learning.  The way they are driving this risk management policy

is nothing to “sneeze” at. Someone on the chase’s data team has discovered a correlation between individuals getting 5 new cards

in 2 years and risk to default or loss revenue. There has to be upside for chase in conducting this policy especially, since it is

automatically tied to their credit approval / decline scoring process.