Chase prequal, how often?

[Anonymous]

Does anyone know how Chase's prequal site works with regards to current bureau data? In other words, how often is their data updated?  I have read threads where people have nothing showing one day and two cars showing later in the week. This leads me to believe that Chase's credit date may be updated on a weekly basis somehow.  I have nothing showing, but next month I will have about 9 inquires coming off each bureau. Other than that, I can't think of anything wlse holding me back. I'm 3/24, 698, 702, 707 true FICO's and 32 mos AAOA. No missed payments, Util at 15% and several cards with $5k-$15K limits. I'm hoping to get the CSP eventually.

CH

[austinguy907]

Personally I wouldn't worry about the pre-qual page.  99% of the time it never showed anything for me.  Then they started using an 'Offers" page when you're logged in and there's always a CSP/CFU/CF showing in there with 20+% rates on them.

This weekend I just did some research and end up giong with CFU and their offer was 21% or so and I cold apped knowing that couldn't possibly be right and ended up with a 15.74% and a 25.9K CL.  

My existing Chase Slate had been up at 22% and then in the past year they reduced it to 17.49% or so.  They're kind of odd when it comes to how they look at existing and new accounts.  I would probably shoot for a CFU first and gauge where they're at with your profile and go from there unless you really feel the need to spend $4K to get the bonus on the CSP right now or in the next 3 months.

Premise of the response.... Apply for what you want when you think you will achieve the desired result.  

[Anonymous]

OP, do you have any current Chase cards or accounts? 

One thing holding you back, while not significantly I'm sure, is that 15% utilization.  Take it down to 8.99% and you'll see an increase in all of your scores into the low 700's.  Second, you may see a score increase in 4 months when you cross 3 years AAoA.  Also you have those inquiries coming off.  If I were in your shoes, while I may be able to get approved for a product of theirs now, I'd wait 4 months to get that AAoA increase, drop that utilization down to 8.99% or less and let those inquiries come off.  The 4 month wait, depending on the product you are considering, could mean the difference between a $3k SL or a $10k SL.  For me, that would be worth the wait.  Otherwise you could pull the trigger today and hopefully you'll be happy with the result.

[Anonymous]

Thursday, TU under 610, no prequal.

Saturday, TU over 635, two prequals, accepted one, approved.

Tuesday, TU over 635, no prequals showing at all.

[Anonymous]

Thanks for the feedback. I will wait until October and see how the scores come up following this advice. I had a mortgage with Chase for nearly 3 years with a perfect record, but I refinanced that this year for a better interest rate and some cash out to buy a car.  I also had a Freedom card with them for a year but I closed it about a year and a half ago since they never would raise my $500 limit. They needed more than 2 yrs of revolving history at the time and I didn't have it.

CH

[Anonymous]

Chase is weird about CLIs.  I've ready MANY posts about people who posted 99% utilization on their statement then PIF'd the next day (Chase will update any $0 PIFs on CRAs mid-cycle) and got a CLI.  So I am going to play that game after the 3rd statement and see.

$500 is fine for me, since I bank with Chase I assume payments from Chase->Chase will be faster, but I charge some pretty big items every month and would like 1.5% CB.  Since I have 2-4% on Discover first year right now, I don't need the FU at all but after the Discover bonus ends, I'll use Chase until I can get approved for Citi DC 2%.  I have time to build that Chase CL, hopefully by March of next year I can get it up to $3K or more where I can actually use it.