Denied Chase Freedom

[celticslegends]

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@Anonymous wrote:

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@celticslegends wrote:

Does anyone have any recommendations for balance transfers now that Chase is off the table?

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The Citi Simplicity has a nice intro 0% APR for a long 21 months. And the Discover it has a similar offer, but for 18 months.

It appears that both cards charge a 3% balance transfer fee, though.

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Thank you. I may try for the Discovery It. I applied more than 6 months ago and was denied. I had a negative fall off recently and the only other derogatory is a paid charge off from bank of America for $200 from 6 years ago. 

It's too bad about Chase. I was looking forward to applying for the Marriott as well. Now it is a no go.

[Anonymous]

This is very odd.  They just implemented the 5/24 on the brands.. then on 5/24 moved the 5/24 to the cobrands.. and now mid June they cut that down to more than 1/2?  This is very odd... I feel bad for those that have saved a pull for their 5 of 24.. and if it is north of 2... people waste a hard-pull...   I just got a cobrand Chase Amazon card before the 5/24 ... in a way I am glad I did..   Im figuring it will be my sole chase card in my entire credit journey.  Wonder if it will be reduced soon to 1/24?   

[Anonymous]

*shakes head*  I find myself wondering if it's still 5/24 overall but 2/24 for chase and co-branded cards.  Either way, this looks more like risk reduction rather than an anti-churning measure.

[Anonymous]

I understand the risk involved, but man that's steep

[Anonymous]

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@Revelate wrote:

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@Anonymous wrote:

WOW WOW WOW

I had several people message me today to say the Prequalifies they had with Chase online yesterday have now disappeared.  I wonder if this is why.  They were each waiting for a statement balance to update to paid off prior to applying and yikes to this possible news.  Maybe that is the explanation though.

Wonder where they should go instead for similiar approvals??   Suggestions?  

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To be fair, not having a Prequal according to Chase has never been an impediment to obtaining a card, at all.  Doubt that's changed necessarily.

2/24 sounds, overly punitive, but I don't have Chase's dataset.  Also we've seen a couple of Chase approvals that still follow the 5/24 rule seemingly but guess we'd have to compare dates.  I'm not going to go screaming that the sky is falling just yet as that seems patently absurd in the current market unless they're expecting a financial downturn and they're battening down the hatches.... or otherwise moving their portfolio out of credit cards.

I suppose either is possible or some combination of both, and I'd wager the "normal" consumer probably opens less than one card a year but I'm thinking a lot of people will fall afoul of this not just forum or similar folks if accurate.

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The point was the pre-qualifies disappeared overnight.  They had them there and with no changes to the credit report, while this thread popped up, the pre quals are now gone.  It may be absolutely nothing but seems a big coincidence.

[celticslegends]

I also have a Chase bank account and I received this message from them yesterday:

We've sent an important communication to your Secure Message Center, available on Chase Online or on the Chase Mobile app.

The subject is: We will discontinue Overdraft Advances on credit cards

You can sign in to review this communication in your Secure Message Center until 09/12/2016.

Thank you for being a valued Chase customer.

[Anonymous]

Yeah i got that SM from them today and only have credit cards, no banking relationship.

[kdm31091]

I doubt they'd do 2 in 24 as that will truly lock out many people even those who never "abuse" anything. I assume the rep is mistaken and it remains 5/24. The prequal can disappear for any reason and not necessarily because of this policy.

[Anonymous]

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@kdm31091 wrote:
I doubt they'd do 2 in 24 as that will truly lock out many people even those who never "abuse" anything. I assume the rep is mistaken and it remains 5/24. The prequal can disappear for any reason and not necessarily because of this policy.

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Right now I could go either way. Chase seems to be on a trend of tightening things up, and I haven't had any prequals show up from them ever since I got CSP and FU in mid April. At that time I had CSP, Freedom, and Slate all showing up.

First, applying 5/24 to co-branded and small business cards, even retroactively applying to apps that were already in progress before the policy change. 2/24 on some cards wouldn't really surprise me.

Amex on the other hand seems to be welcoming me with left and right offers and acceptance.

[glamchick]

I applied for the Chase Freedom card in April this year.  Received a small SL line of 1000.

I already had a chase Slate card since 08.   With only a CL of $700.   they will never budge on a CLI because they always go back to 2012 when I had some lates.  So my CL still sits at $700 even though I PIF every month and have had no lates in 2 years!!

But they appved me for the Chase Freedom card for another small limit that will probably also never grow.

Im not sure what the hype is about wanting this card?  Do you have to have a perfect CR with no lates?  And do they eventually give nice CLI's if you have a clean report?

they just seem so strict about everything.  And now its 2/24?

And when I applied I had already applied for 2-3 other new cards when they approved me.  So they must of just changed this rule?