Chance with Chase

[Anonymous]

Hello everyone, how's it going ?

To my suprise after checking my credt report I am exactly at 5/24 and  considering going for a chase freedom or slate card. Here's the thing. I have 1 item in collections that's been on my report for 6yrs and falls of next year.  My experian score hasn't updated in 2 months ( don't know why - 638).

Utilization under 8% - I've applied for 3 cards over the last 8 months and have gotten approvals on all. Amex hilton, cap1 qs and cap1 platinum.

It's a long shot as I know how Chase can be but it's also 5/24. Is it worth pulling the trigger or should I walk away? 

Has anyone has problems with experian updating their score also? It seems to take forever. Kindly lmk

[AI_JMV]

Pretty much 0 chance with that score.  There are a lot of other factors, but that's enough to knock you out. I would recommend not wasting the HP.  If you are near a branch, you could pop in and see if you are pre-qual'ed for any of the cards.  If you are pre-qual'ed, then that's your best and only chance for an approval.  Good luck!

[Anonymous]

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@Anonymous wrote:

Hello everyone, how's it going ?

To my suprise after checking my credt report I am exactly at 5/24 and  considering going for a chase freedom or slate card. Here's the thing. I have 1 item in collections that's been on my report for 6yrs and falls of next year.  My experian score hasn't updated in 2 months ( don't know why - 638).

Utilization under 8% - I've applied for 3 cards over the last 8 months and have gotten approvals on all. Amex hilton, cap1 qs and cap1 platinum.

It's a long shot as I know how Chase can be but it's also 5/24. Is it worth pulling the trigger or should I walk away? 

Has anyone has problems with experian updating their score also? It seems to take forever. Kindly lmk

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What are the other 2 accounts?

If they report on your consumer report you would likely be all done even if you had an 850 Fico 8.

If you mean you only have 3 or 4 accounts on your credit report, I would still be reluctant to apply for a Chase issued card with any kind of Fico 638.

[CYBERSAM]

Experian.com has updated my score regularly! Same with myFICO.

Chase looks to be more strict on core cards vs. co-branded cards

[Anonymous]

Unfortunately you will be denied.  The 5/24 rule means that you cannot have opened "five or more" revolving credit accounts in the preceding 24 months.  Since you are at exactly 5/24 you will not be approved.

[Jnbmom]

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@Anonymous wrote:

Unfortunately you will be denied.  The 5/24 rule means that you cannot have opened "five or more" revolving credit accounts in the preceding 24 months.  Since you are at exactly 5/24 you will not be approved.

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I agree I don't know why you stated you are ar 5/24 and you think you can apply you have to be under that?

Also not to be harsh but that score is really low for chase to approve.

[Anonymous]

Experian hasn't updated my scores in 2 months - I'm near 700 on tu and eq.

The reason I posted is that I have 2 inquiries from Walmart with one being in dispute to be removed. 

[Jnbmom]

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@Anonymous wrote:

Experian hasn't updated my scores in 2 months - I'm near 700 on tu and eq.

The reason I posted is that I have 2 inquiries from Walmart with one being in dispute to be removed. 

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Yes but being at 5/24 you are over .

[Anonymous]

I totally overlooked that - the walmart a approval wasn't a double approval but a double pull so yes that would be correct even after the removal. In time there will be another opportunity.

[Anonymous]

The 5/24 rule has nothing to do with the number of inquiries on your credit report.  It only counts revolving credit accounts; and if you've opened 5 or more accounts in the last two years you will be automatically declined.