Question about Chase apping

[PandiferBear]

Okay, so I am in the garden and trying to stay there until my BK falls off in Oct of next year (been a long decade). I pretty much left my credit alone until last year. Since then I have had some good success. However, now I may have a shot at Chase. I know that they tend to give higher limits on second cards. Should I listen to my brain and wait? I am wondering if I app now, if they will always put me in the BK bucket, since I was originally?? I wonder if I get the Freedom soon, if I would have a much better limit in December next year on a second card. Just looking for opinions here.

[Anonymous]

 I'd definitely wait.  Sounds like you got a good round of approvals recently.  Chase is pretty strict compared to most other lenders.  However, I've recently talked to one of their Sr. Credit Analysts during a recon call and they stated that they basically will look at the information on your current application objectively; if you apply now, then get rejected, then apply again after the BK falls off, they won't consider you "part of the BK bucket".  However, getting a CLI is going to be way more difficult than getting a card with a high limit off the bat. So with that in mind, I think it'd be well worth it to focus on gardening for the timebeing and then hit up Chase after your BK falls off.  It's difficult to wait something like this out if you're feeling antsy about it, but you won't regret it if you wait.  

Think of it this way:  You aren't sure you'll get approved if you apply now.  You'll end up with an inquiry in the midst of your gardening and just feel crappy about it if you get denied.  However, you know that your chances are significantly higher if you do wait for your BK to fall off before applying.  And your chances of a higher limit as well.  

Other option is to just go all out and apply now, with the understanding that you'll go for the second card (I never heard about the second cards with Chase having a higher credit line; that's news to me). But is two Chase accounts really necessary?

[Anonymous]

just for a reference, chase mainly uses their internal scoring system. If you have banking with them (of coure good relation in banking) then your chance of getting one of their cards is very high. I hope you had nothing bad happened with chase in the past. I heard chase even pulled baddies with them from 10+ years back if they wanted to reject. I have been banking with chase for 14-15 years since I was 17-18, both personal, business and now on the way to to private banking and thats how I found out. Hope this help! 

[changingmantra2]

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@PandiferBear wrote:

Okay, so I am in the garden and trying to stay there until my BK falls off in Oct of next year (been a long decade). I pretty much left my credit alone until last year. Since then I have had some good success. However, now I may have a shot at Chase. I know that they tend to give higher limits on second cards. Should I listen to my brain and wait? I am wondering if I app now, if they will always put me in the BK bucket, since I was originally?? I wonder if I get the Freedom soon, if I would have a much better limit in December next year on a second card. Just looking for opinions here.

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Yes, listen to your brain and wait.  You will have a longer credit history - maybe higher credit limits -  better credit scores- and no BK.  I could not secure Chase nor AMEX with a BK - in fact not until at least 5 months AFTER BK.  I am sure there are others who can say they were able to get in with Chase with BK - but - like you have already said - your brain is telling you not to do it now.  My BK was due to fall off 10/13, but did in 7/13, for whatever reasons, and the first thing I did the day I found out was app for Citi-Chase-AMEX, I got Citi only.  If your BK falls off early, then you are looking at just a few more months of waiting. 

Chase does give higher CLs on second card -  12/13 I received $4000 on Freedom - about 7 months later I received $9000 on Sapphire.    Maybe having AMEX can help you - and/or not having other baddies.  When I applied 7/13 - I was told my denial was due to something else on my CR, not the BK.   I am not so sure that is entirely true - since the other stuff was still there 6 months later when I was approved..... Good luck with it, whatever you decide.

[chalupaman]

Chase gave me my highest limit on my first card and a lower limit on my second card understandably. Sometimes I think it can be the exact opposite but still in a beneficial way. Also I think cobranded cards from Chase are easier to get than stuff like the Freedom. I think your Amex will be quite helpful too.

[BeeH11]

Both of my Chase cards are the same, $5k on each. Applied for them 1.5 years apart.