Chase, is this real?

[Anonymous]

So I check pre quals just about daily for the past two years or so waiting on Chase and Citi to prequal me for something.  I dont really know if Im truly over 5/24 or not.  Ive seen that store cards and installment loans dont count, and Ive seen that they do.  If neither of those count, and it is truly only Bank Cards, I am at 3/24.  However, if store cards and installment loans count, I am at 8/24.

With that being said I somehow just prequalified for these three, is there a real shot at any of these?

[Anonymous]

Prequals are pretty good as far as indicatoin of being approved.

Also, actual store cards do not count for 5/24, nor do installment loans (like an auto loan or mortgage).

You should be fine. Which of those 3 cards makes sense to you?

[Anonymous]

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@Anonymous wrote:

Prequals are pretty good as far as indicatoin of being approved.

Also, actual store cards do not count for 5/24, nor do installment loans (like an auto loan or mortgage).

You should be fine. Which of those 3 cards makes sense to you?

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I thought Chase's prequals were pretty solid indicators.  I was actually hoping for a Freedom Unlimited, because I want to get into UR, and that would make sense as a daily driver.  But I would more than likely go for the Freedom first, to start with the 5X URs and the decent little sign on bonus.  Then in a year or two Im going to go for the CSP after I have some history with Chase.

Im gonna wait to app until February 1 though, because my Discover has a CLI from 5700 to 9700 that hasnt reported to the bureaus yet, so I want them to see that I can manage a almost 10K line before they decide on whether or not to approve me, lol.

[CreditCuriosity]

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@Anonymous wrote:

Prequals are pretty good as far as indicatoin of being approved.

Also, actual store cards do not count for 5/24, nor do installment loans (like an auto loan or mortgage).

You should be fine. Which of those 3 cards makes sense to you?

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Store cards do count...  Although if through pre-qual he should be golden as bypasses 5x24 rule.  My office mate that has incredible credit 840+ scores was declined CSR as he was at 6/24 with two store cards and ruined him.  He has other Chase cards as well.  There is much arguement whether store cards count.  I can ensure you they do.

[Anonymous]

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@CreditCuriousity wrote:

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@Anonymous wrote:

Prequals are pretty good as far as indicatoin of being approved.

Also, actual store cards do not count for 5/24, nor do installment loans (like an auto loan or mortgage).

You should be fine. Which of those 3 cards makes sense to you?

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Store cards do count...  Although if through pre-qual he should be golden as bypasses 5x24 rule.  My office mate that has incredible credit 840+ scores was declined CSR as he was at 6/24 with two store cards and ruined him.  He has other Chase cards as well.  There is much arguement whether store cards count.  I can ensure you they do.

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Do you have any specific data to back that? I've seen probably a few dozen data points on here to the contrary. I recall that people have sometimes had to call recon and point out the store cards, but that led to approvals.

Perhaps your office mate was mixing store-branded credit cards with store-only cards? I know that any visa, mastercard, Amex, Discover, etc that can be used anywhere do of course count.

[Anonymous]

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@Anonymous wrote:

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@CreditCuriousity wrote:

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@Anonymous wrote:

Prequals are pretty good as far as indicatoin of being approved.

Also, actual store cards do not count for 5/24, nor do installment loans (like an auto loan or mortgage).

You should be fine. Which of those 3 cards makes sense to you?

---

Store cards do count...  Although if through pre-qual he should be golden as bypasses 5x24 rule.  My office mate that has incredible credit 840+ scores was declined CSR as he was at 6/24 with two store cards and ruined him.  He has other Chase cards as well.  There is much arguement whether store cards count.  I can ensure you they do.

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Do you have any specific data to back that? I've seen probably a few dozen data points on here to the contrary. I recall that people have sometimes had to call recon and point out the store cards, but that led to approvals.

Perhaps your office mate was mixing store-branded credit cards with store-only cards? I know that any visa, mastercard, Amex, Discover, etc that can be used anywhere do of course count.

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Mine are true store cards.  Not Visas, MC, AMEX, or Discovers.  Only can be used in store.  Thats why i said originally I dont really know if I am or not over 5/24 lol, theres so many differing data points.

[CreditCuriosity]

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@Anonymous wrote:

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@CreditCuriousity wrote:

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@Anonymous wrote:

Prequals are pretty good as far as indicatoin of being approved.

Also, actual store cards do not count for 5/24, nor do installment loans (like an auto loan or mortgage).

You should be fine. Which of those 3 cards makes sense to you?

---

Store cards do count...  Although if through pre-qual he should be golden as bypasses 5x24 rule.  My office mate that has incredible credit 840+ scores was declined CSR as he was at 6/24 with two store cards and ruined him.  He has other Chase cards as well.  There is much arguement whether store cards count.  I can ensure you they do.

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Do you have any specific data to back that? I've seen probably a few dozen data points on here to the contrary. I recall that people have sometimes had to call recon and point out the store cards, but that led to approvals.

Perhaps your office mate was mixing store-branded credit cards with store-only cards? I know that any visa, mastercard, Amex, Discover, etc that can be used anywhere do of course count.

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I saw his credit reports and gave him the recon number to call.  I introduced him to churning chase among other lenders.  So if you believe my word, then yes I do have evidence to back it as saw his reports after he was declined as he thought he was under 5x24 and sure enough he opened up two store cards within the last 2 years and this put him at 6x24 one was macy's store card I believe and the other was something like rooms to go.  Also I believe another thing that might of hurt him was the costco change from Amex to Citi and possibly counting as a new account.  He did call up recon as it was auto denial and the said too many new accounts then that is when we both started going through his reports to see what caused it.  He did try to recon to no success he ahs about 50kish chase exposure currently and 6 figure income and scores in the 840ish range as stated.  Who knows maybe he could of HUCA'ed, but he tried twice and it was a no go.  I was there with the initial call and talked him into calling again, but wasn't around that time and was a no go again.  They didn't say the store cards exactly but they mentioned he was had open 6 new accounts in the last 24 months and 2 of those on his report were indeed store cards.

I also believe chase really doesn't care if it is a store only card or a major as if one uses store card only they are still taking possible profits away from swipes/carrying balances on Chases major cards thus I really don't see a difference between store and majors nor would I see Chase seeing a difference either.  I have seen the same data points as you have seen on various forums.  This case it sure hurt him, whether others have been successful by other methods there is an exception to every rule as you probably know.

[CreditCuriosity]

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@Anonymous wrote:

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@Anonymous wrote:

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@CreditCuriousity wrote:

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@Anonymous wrote:

Prequals are pretty good as far as indicatoin of being approved.

Also, actual store cards do not count for 5/24, nor do installment loans (like an auto loan or mortgage).

You should be fine. Which of those 3 cards makes sense to you?

---

Store cards do count...  Although if through pre-qual he should be golden as bypasses 5x24 rule.  My office mate that has incredible credit 840+ scores was declined CSR as he was at 6/24 with two store cards and ruined him.  He has other Chase cards as well.  There is much arguement whether store cards count.  I can ensure you they do.

---

Do you have any specific data to back that? I've seen probably a few dozen data points on here to the contrary. I recall that people have sometimes had to call recon and point out the store cards, but that led to approvals.

Perhaps your office mate was mixing store-branded credit cards with store-only cards? I know that any visa, mastercard, Amex, Discover, etc that can be used anywhere do of course count.

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Mine are true store cards.  Not Visas, MC, AMEX, or Discovers.  Only can be used in store.  Thats why i said originally I dont really know if I am or not over 5/24 lol, theres so many differing data points.

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You don't have any chase accounts either so most liekly why you got the pre-qual as chase might want you where-as some of that have many chase accounts they are already either making money or not making money off us.  I have seen many data points of people over 5x24 whether store card or major that have got the online pre-quals mainly due to not being with chase already apparently that might of got them past the 5x24.. Only speculation on my part why they were pre-qualified.

[Anonymous]

did your friend have a prequal or did he cold app

[CreditCuriosity]

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@Anonymous wrote:

did your friend have a prequal or did he cold app

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Cold App as the CSR isn't on pre-qual nor did he have any pre-quals as he has the freeom/csp/etc already.  You should be golden in all honesty if you have the pre-qual as they are pretty much the golden ticket.