Chase IHG Cards

[Anonymous]

Hi Everyone,

First time on here after stalking the boards for 2 years. Fixed my credit and brought my EX score from 561-732 in one year with help from many on here so thank you all!

I'm looking into applying for an IHG Chase credit card that I'll use while traveling for my job. It looks like there are three different versions (Premier, Traveler and Select), with Premier being my target due to its higher points rewards.

I have two previous Chase charge-offs, $700 and $2700. Both have fallen off all credit reports. All other non-Chase charge-offs have fallen off the reports as well.

My current salary is $100k/year, I have no collections and current inquiries are: EX 3, EQ 1, TU 6.

Current lines of credit are as follows:

First Premier Bank CC - Limit $700, balance $10, no lates

First Premier Bank CC #2 - Limit $975, balance $15, no lates

Fingerhut - Limit $1750, balance $0, no lates

Ally Auto Loan - Original $19443, balance $17835, no lates

Santander Consumer USA Auto Loan - Original $10954, balance $1000, 1 30 day late 10/2018

US Bank Home Mortgage - Original $160000, balance $141366, 51 lates, current since January 2020

Current FICO 8 scores are: EX 731, EQ 736, TU 692

What are my odds of getting approved for the Premier IHG card (or the other two if I have low odds on Premier)?

Any info and/or tips regarding improving my current credit profile would also be greatly appreciated!

Thanks!

[Brian_Earl_Spilner]

We're the chase charge offs paid? If not, it's going to be an uphill battle.

[Anonymous]

The $700 was settled for $700 (paid the other $700 out of $1400). The other account was not paid at all.

[Anonymous]

The Chase charge-offs falling off credit reports allowed you to rehabilitate scores, but Chase will still have its own internal records.

[Anonymous]

@Anonymous  Would paying the charge-off balances to Chase be possible at this point? If so, would that make any difference?

[Anonymous]

As Brian pointed out, your odds would be stronger if all charge offs paid off.

However, with not all charge offs paid off, the path forward to getting a Chase card is going to be challenging for any board member to comment on.

Amex has the Optima card which allows one to rehabilitate him or herself with Amex but Chase does not have a comparable program.

Is the $2,700 out of statute in your state?

Would the value of the IHG card be greater than the cost of paying off $2,700 even if doing so were to guarantee being approved for the card (which it absolutely does NOT guarantee)?

Forum posts suggest that people with Chase unpaid charge offs have gotten approved in the past. However, during pandemic that would be more difficult.

Edit, Summary: as Brian stated, having a charge off with Chase will make getting a Chase card difficult.

[Anonymous]

@Anonymous  Yes, it's over the statute (6 years) here. It would definitely be worth it points-wise to pay this off if I could get approval. I guess I'll have to think about this one...

Thanks for the help!

[Brian_Earl_Spilner]

It wouldn't be impossible to get. Just realize that you'll probably have to recon every application and CLI request and answer a barrage of questions for quite some time for just about anything you want to do. To put it in perspective, Washington Mutual was bought by Chase in 2008, and people are still getting questioned or denied because of defaults that weren't affecting Chase in the first place, they just absorbed the loss, but they act like you did it to them.