Chase Ritz Approval Odds?

Anonymous · ‎09-29-2016

*** UPDATE 10/05/2016 ***

Started this thread when I was thinking about applying for the Ritz-Carlton Rewards Card. When I applied, the app went pending without Chase ever pulling my credit. There's a lot of good info and data points in the following posts, especially if you have a high number of new accounts & inquiries and how Chase seems to be handling Ritz Applications.

My approval ended up being $20,000 SL @ 16.24%

Stats at time of approval:

FICO 8 | EX 693 | EQ 693 | TU 710 - INQ's - EX 5 | EQ 10 | TU 4...12+ new accounts reporting on all 3 bureaus and 5% utilization

Feel Free to add on to the thread, post questions or more data points if you are approved.

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Looking at Chase Ritz Infinite, would like to apply soon. This will be my last card for the next 12 months. I've read lots of posts but interested in outside opinions.

Data Points: (EQ is Iced)

Experian

FICO 08: 692

INQs: 5 total / 1 in last 90 days

AAoA: 1.7 years

Util: 5%

Neg: 2 SL Trade Lines late 21 mths ago

LOTS of new accounts in last 12 months. / 1 new account in 90 days (BofA Cash Rewards)

TransUnion

FICO 08: 710

INQs: 4 total

AAoA: 1.6 years

Util: 5%

Neg: 2 OLD Tax Liens from 2010

LOTS of new accounts in last 12 months. / 1 new account in 90 days (BofA Cash Rewards)

Was Approved for CSP on 5/3 with SL $5000. Received an AUTO CLI after 3rd Statement to $10,000. Ran $12k dollars thru card and PIF multiple times per cycle.

Anonymous · ‎09-29-2016

Based on the stats. you do stand a chance of getting approved. Chase relies heavily on their internal scores and since you already have a Chase card, that is going to play a big role in the decision.

Apply with confidence and report back with results if you do go ahead.

Anonymous · ‎09-29-2016

@Anonymous wrote:
Based on the stats. you do stand a chance of getting approved. Chase relies heavily on their internal scores and since you already have a Chase card, that is going to play a big role in the decision.

Apply with confidence and report back with results if you do go ahead.

Really tempted to go ahead and do it today. But I should get around a 10 point bump on my EX score on Oct 1st (Friday) as the SL Negs age another month...that would put both available reports at 700. Don't know if that's gonna be a significant difference, but in my head it is lol

Anonymous · ‎09-29-2016

@Anonymous wrote:
@Anonymous wrote:
Based on the stats. you do stand a chance of getting approved. Chase relies heavily on their internal scores and since you already have a Chase card, that is going to play a big role in the decision.

Apply with confidence and report back with results if you do go ahead.
Really tempted to go ahead and do it today. But I should get around a 10 point bump on my EX score on Oct 1st (Friday) as the SL Negs age another month...that would put both avaiable reports at 700. Don't know if that's gonna be a significant difference, but in my head it is lol

Don't do it today based on the info. you provided. Wait it out. The credit game is all about strategy, strategy, strategy.

Anonymous · ‎09-29-2016

...correction Oct 1st (Saturday) ....two more days

CreditCuriosity · ‎09-29-2016

Good luck as YIM stated you have a good chance and since you have a relationship with them already you are pretty well off. They pulled EQ for me, but they could pull any of the three. Best of luck when you do apply and let us know the results, but wait for Exp to update as you never know who they are going to pull.. More than likely it will be an EX/EQ pull..

Anonymous · ‎09-29-2016

@CreditCuriousity wrote:
Good luck as YIM stated you have a good chance and since you have a relationship with them already you are pretty well off. They pulled EQ for me, but they could pull any of the three. Best of luck when you do apply and let us know the results, but wait for Exp to update as you never know who they are going to pull.. More than likely it will be an EX/EQ pull..

Thanks! They pulled EX/EQ for the CSP, but figured if they need to hard pull a 2nd bureau for the app besides EX. I can probably get them to pull TU bc EQ is on ice right now...seems about a 50/50 split with single/double pull(s) and 50/50 on EQ vs TU for that 2nd pull. Chase does soft pull all of them on a pretty regular basis (looking at my AR/PRM inquiries. So they know what's there anyways.

Anonymous · ‎09-29-2016

I'd wait the 2 days. But you should be approved since Ritz is not 5/24.

Anonymous · ‎09-30-2016

Definitely appreciate the feedback! Just waiting it out now. Looking at other post(s) if you are approved, the minimum credit line is $10,000 since the new card & benefites are all based on the Visa Infinite.

Is this correct? I guess that's the only thing that is giving me pause bc Chase would be doubling their exposure with me. Again, last app for at least a year. I have 4 small Comentiy Cards that I don't need (really should never have apped for them) and will be closing at least 2 of the 4 this weekend. If I'm approved for the Ritz. I'll be closing the other 2 as well. Not worried about UTIL% because all 4 combined are $11,000. That should reduce my total number of accounts "open" to a little bit more reasonable number (IMO).

One last data point, just paid off my $1200 balance on the CSP so tomorrow when I app it will be at $0.

Anonymous · ‎10-01-2016

Well, didn't get the bump I was expecting on EX, but still cleanest report...so submitted app. No instant approval went to futher review. Called automated status line and it says 2 weeks.