@ChazzieT wrote:
I'm running a little experiment to test the relationship hypothesis.
I applied for Cash+ on 5/16/19 after a 4 card spree hit my reports. I was told by UW to wait until those four cards were over 6 months old and apply again.
I apped again on 11/20/19 and was told the previous CSR should have told me to wait 12 months, not 6. I had a "cheer me up" spree between the time I was denied and the time I found out why, so I now had to start my 12 month clock over.
In Dec/19 having read all the posts about a relationship helping, I opened a self directed brokerage account, Gold checking and package saving. I have been using the gold checking account as my daily driver since January (when they finally gave me a high enough limit on mobile check deposit to cover my paychecks).
In mid June, I will be in almost exactly the same position for new accounts (actually, one account worse thanks to the Aniston Tidal Wave) as I was when I was rejected in November. My scores are all within 5 points of their November levels and in the high 700's. I will have the 4 cards from my "cheer me up" spree past the 6 month mark (the fifth, AOD, will be close to 3 months). The AOD card should should actually make me less likely to be approved if relationship doesn't count.
Six months of investments, savings and running $10k/month through their checking account to pay other lenders should fit anyone's definition of a relationship. So on 6/22/2020, I will app again.
If relationship is enough to overcome 1/6 - 5/12, I will be approved. If it doesn't get me approved, then I will be 1/12 on 12/5/2020 and will apply again on 12/7/2020 with 1/12 new accounts and 2/12 inquiries.
If I still don't get approved, then I guess they just don't like me.
However it turns out, we should have better evidence to support/refute the relationship idea.
You're going to get a denial, but so will I.
"Relationship" won't change strict UW standards. It might help overlook one card, if that's the only point of contention, but 4-5, not happening.
Like I said earlier, they denied those who banked with them for a decade or longer because of new accounts.
Probably not what you want to hear, because while you're calling it "experiment", I can detect hope and almost certainty that "relationship" will somehow sway them.
We all seem to forget these "rules" were put in place to curtail churning, and the only thing that can do that, is not looking like one.
Those of us with many new accounts look and act the part, even if that wasnt the intent behind the apps.
I sincerely hope that I'm wrong, but i estimate my chances at 1%, and that's with checking, savings, investments, AR, and Cash+
In fact, my chance is closer to 0%, but I like to lie to myself sometimes.
