@CreditCuriousity wrote:
@Anonymous wrote:
@CreditCuriousity wrote:
@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.
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 would bet that this was a larger part of it. Vaguely recall during that time that many people posted that the Amex and Citi accounts were both showing, with the Citi account being new.
My main point was just that there are tons and tons of data points suggesting that store cards are not set-in-stone part of Chase's 5/24 auto-denials. 5/24 is something that the computer does immediately upon pulling your credit, not the same thing as a human underwriter deciding to deny you for too many new accounts.
