Chase Southwest Card Advice

Anonymous · ‎02-24-2016

Hello Everybody,

I had planned on being in the garden for 6 months, but last night I apped for the Chase Southwest Rapid Rewards VISA (they had sent me 3 mailers over the past month).

After I applied I got the 7-10 day message online, but the 30 day email and the 30 day message over the phone. I'm really tempted to call recon and I see conflicting messages on here so here's my stats.

GOOD

AAoa 9.6 yrs

Utilization 1% 0/1000 BofA secured, 6/450 Credit One (I know) 0/700 Open Sky 20/500 Capital One

BAD

3 new accounts in the past 90 days

18 month old chargeoff (paid in full--on my report is says PIF was a chargeoff)

3 released tax liens from 2011

3 30 day lates in 2015

NEUTRAL

AU on a company card for work 30K limit about 14K reporting this month---spotless payment history

My EX score at the time of apping is/was 651...which seems to be in the low to mid-range for this card.

What should I do...I'm thinking I'm probably a decline, so should I just bite the bullet and call recon now or try to wait it out? My pitch would be that I'm adding new credit for business travel (which is 100%) true and my limits are low (which is my fault) so I'm looking in the short-term at getting more cards.

myjourney · ‎02-24-2016

Welcome to the forum

As hard as it is to wait it's probably in your best interest to not call and play it out

Also to note the 5/24 rule does not apply to cobranded cards (SW)

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

Anonymous · ‎02-24-2016

You are absolutely right, and I will wait it out...as gut-wrenching as it will be!

in your opinion, does Chase really take 30 days to go through this process?

Also, if declined should I wait another 6 months to a year? Finally, I've been thinking about adding chase as a bank with probably between $10-12K in a savings account (obviously not to get the card---they are the most convienient bank in my area), do they consider that relationship as well?

myjourney · ‎02-24-2016

@Anonymous wrote:
You are absolutely right, and I will wait it out...as gut-wrenching as it will be!

in your opinion, does Chase really take 30 days to go through this process?

Also, if declined should I wait another 6 months to a year? Finally, I've been thinking about adding chase as a bank with probably between $10-12K in a savings account (obviously not to get the card---they are the most convienient bank in my area), do they consider that relationship as well?

I've seen it take between 2-30 days so hard to say

Question did you have a RR account number already and did you enter it on the app?

Edit to add sometimes deposits play a roll then sometimes not 50/50

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

FinStar · ‎02-24-2016

@Anonymous wrote:
You are absolutely right, and I will wait it out...as gut-wrenching as it will be!

in your opinion, does Chase really take 30 days to go through this process?

Also, if declined should I wait another 6 months to a year? Finally, I've been thinking about adding chase as a bank with probably between $10-12K in a savings account (obviously not to get the card---they are the most convienient bank in my area), do they consider that relationship as well?

The application review process can take up to 30 days. Some individuals can get a response withing 3-7 days (maybe less) while others may take longer and can go beyond 15 days - YEMV.

If you are declined, you can see about appealing the decision, but if there are some blemishes that don't bode well with UW, it may not work out. Just something to think about. You can periodically call the status line to check the progress. Now, if it changes from 30 days to 7-10 days, then it may not be good news but it depends.

Depository or investment relationships can sometimes play a part in the consideration process, but not always and do not necessarily override the primary UW criteria. It also depends on how much you have parked with them and for how long.

Anonymous · ‎02-24-2016

I do not have a RR number so didn't input anythiing on the app---good to knoow about the banking info.

Anonymous · ‎02-24-2016

Ok, makes sense---i'll periodically check the app line for status. I was thinking of about parking 10-12K with them...but length of time would be very short as I plan on making the deposit in the next 1-2 wks.

myjourney · ‎02-24-2016

@Anonymous wrote:
I do not have a RR number so didn't input anythiing on the app---good to knoow about the banking info.

Sometimes this can also slow the process YMMV

Hopefully not and also take note of FinStar comments as well

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

Anonymous · ‎02-24-2016

Took them 11 days, and then I got a call from the fraud department... Called them back, answered a few questions, and approved on a Visa Signature for $4000... I'm happy my first prime card..

Anonymous · ‎02-25-2016

My United Explorer card took just shy of 30 days for approval. Mind you that I did have to go though address verification and sent it the requested docs via snail mail. So I would wait for something in writing from Chase or for definative approval or denial via the robo lady.

Best of luck! Keep us updated!