Ritz-Carlton Rewards Approval Odds

[Anonymous]

Hi All,

Just wanted some advice.  I've really wanted the J.P. Morgan Ritz-Carlton Rewards credit card for some time.  I stay at the Ritz over 25 nights a year and this card is really perfect for me.  I have a 704 EXP score and all others are in the low 700's.  I know they are most likely to pull EXP based off where I live.  I don't have any other cards with Chase but I do bank with them.  I've got 31K in total allotted credit.  However, I am currently using about 24K of that (84% util.) because of some financed furniture.  Do you think this would absolutely kill my chances???  I would like to apply asap and have showed pre-qualifiers for Slate and Freedom. .  I only have 1 hard inquiry, 100% payment history and no baddies.  Highest indvidual limits on cards are $18,700 for a store card and $5,000 for a discover. The rest is random store/smaller credit cards.  Really appreciate the advice!

[myjourney]

Welcome to the forum 

UTL is very high for Chase cards 

Everything else looks good but I have to be honest 

No way would I attempt to app with Chase with that high of UTL ....just my view  others may feel different 

Pay it down and apply and your right the card is perfect for you

[ddemari]

I agree. Chase is fickle about utilization and even more so to someone that doesn't have any of their cards yet. I would try and get your utilization down and then apply. Like MJ said, everything else looks great for an approval.

[CreditCuriosity]

Agree with others get your utilization is way to high..  It will be the nail in the coffin with chase.  Pay it down to 30% or below preferred then apply for it

[Anonymous]

Thanks for the advice all.  Will do!  Should be well worth the wait!

[Anonymous]

Ritz card from Chase is one of Chase's top tier credit cards.

It's very uncommon for Chase to allow approvals of their top tier cards to someone with high credit utilization.

I would suggest waiting until your utilization is under 20%.

Lol that's some expensive furniture .

Goodluck buddy.

[Anonymous]

I would agree with everyone who said that your utilization seems to be too high and when you combine that the minimum they approve for matches your highest limit credit card that may make even a recon unlikely. I would guess that you would be a shoe in if your utilization was lower especially since you would get a nice score bump with lower utilization, although I don't know if they have income requirements since that usually seems like a moving target and more ymmv. Either way best of luck.

[Anonymous]

I'm currently pre-qualified for the Slate and Freedom.  Do you think it would be worth it to submit an app for one of these?  It would help build a relationship and increase available credit if approved.  Thoughts?

[CreditCuriosity]

---

@Anonymous wrote:

I'm currently pre-qualified for the Slate and Freedom.  Do you think it would be worth it to submit an app for one of these?  It would help build a relationship and increase available credit if approved.  Thoughts?

---

I personally would hold off..  It might or might not get approved for the freedom, but that 80% utilization or whatever is going to kill you on the APR and most likely the limit if approved at all.   Just woke on getting your utilization under 30% ideally and reporting that way prior to applying and this is the way to success with chase and most other lenders as well