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@Anonymous wrote:
I have a friend wanting to app for it.
Profile:
AAOA: 2 Months
3 open cards right now, one with 90% UT ($450/$500)
She got her first card about 6 months ago, she officially has a FICO score as of this month we just checked.
FICO score is 625.
I know the obvious, she could easily increase her score by 30+ points by just paying down the card with high UT, but in the meantime do you think 625 is sufficient for the FU?
Her current cards are:
Discover ($450/$500) 6 months
Victoria's Secret 1 month
Forever 21 1 month
In addition to FICO score, Chase has their own internal scoring system. To be approved, your friend is going to need to get her utilization down. Banking relationship would also help in her case. I would wait a few more months and get the utilization down before applying. Also, she should also check the pre-qual site.
@Anonymous wrote:
Her FICO is now 641 with same UT just updated it.
She said it will be PIF by Labor Day so hoping to apply after Disco updates that with the CRA's should be 670+
Make sure she pays before the statement cutoff date so the new balance will reflect on the credit report. Also, she should keep a small balance. Once it updates then I would apply.
Contrary to what others are saying, I was able to get my wife approved for a Chase FU with a 615 FICO. CL was only $500, but it is a foot in the door. She also has 3 very old collections, and only 1 other open TL. I'd advise your friend to check their pre-qual. If offers show up there, it is a very good indication of an approval.