Chase Amazon Visa approval odds

[dudeman27]

I plan on pulling the trigger and applying for the Chase Amazon Visa card, as soon as one of my statements generate in the next week or so. What do you think my approval odds are? 

08 scores from myFICO:

Experian: 706

Equifax: 702

TransUnion: 706

AAoA: 2 Years 8 Months

Oldest: 5 Years 7 Months

Newest Account: 3 Months (Synchrony)

CC Accounts:

Synchrony (Google Store Financing, 0% interest): $1,800 - 77%

Citi (0% interest): $5,800 - 87%

Chase (AU, 0% interest): $11,500 - 85%

Capital One: $9,000 - 1%

Capital One: $13,000 - 25%

Capital One: $700 - 0%

Capital One (AU): $4,150 - 0%

Capital One (AU): $500 - 0%

About a year ago I applied for the Freedom and was denied. Recon told me that it was due to some old charge offs that I had with Chase previously (they're now about 10 years old). When I checked the prequal site for Chase recently, it showed me as being prequalified for CSP with a fixed interest rate in the terms, so I'm hoping I'm no longer blacklisted.

[CreditInspired]

I think your approval odds are shaky at best because your UT is way too high.

IMHO, if it were me, I would have myself removed as AU on the Chase card that’s 85% UT.

Also, I suggest working real hard on getting Synchrony and Citi to less than 48.9% and then to 28.9% before applying for Chase.

And even though you got a preapproval for Chase, if you get it the SL could possibly be very low.

Some things to consider.

[dudeman27]

My thoughts as well. I thought I remembered reading that Chase doesn't look at AU accounts. If that's true then it would drop my utilization down from 40% to 31%, and might help a bit. Those other cards (Chase and Citi) are going to be paid off in 3 months. Spread a large purchase on them and should probably wait, but I'm impatient .

[kdm31091]

I would get the utilization down before considering any CC apps, Chase or otherwise.

[Anonymous]

Honestly, I think your approval odds are decent enough. Getting rid of that AU account will GREATLY help your utilization, but without knowing how it would affect your average age it's hard to say whether that is overall a good or bad idea. Without looking at the AU account, you are sitting at about 27% util if my math is right. With it, you are sitting right around 40%. Is that account something that can be paid down? Are there any derogs or collections on it?

[dudeman27]

The AU Chase card is about a year old. That 0% interest expires in April, so I planned on paying it down to $0 in March. The Citi one doesn't expire until next October, but I planned on getting that one down to $0 in March as well. The only one I didn't plan on paying down by then is the Synchrony account since it's their 24 month equal pay (0% the whole time). Debating whether I want to take the risk or wait. I don't mind a small SL though since I plan to have it long term and I'm sure will get CLIs over time.

[Anonymous]

I dunno, man. I've had that amazon card for a couple years now with no CLIs. Granted, I haven't asked for one, but other cards have grown on their own far more quickly.

If you're going to have that Au account paid down by April, then just wait to app. At that point your overall utilization should be looking really good.

[dudeman27]

Hmm, that's not good. The Chase AU account (Freedom) has had some pretty decent automatic CLIs since we got it, no asking. One thing I just realized, the CSP (if I remember correctly) has a $5,000 minimum starting line. I assume since I got a pretty solid prequal for that, I'd get something decent on the Amazon Visa, but approval odds and terms vary per card I guess :/

[Anonymous]

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@dudeman27 wrote:

Hmm, that's not good. The Chase AU account (Freedom) has had some pretty decent automatic CLIs since we got it, no asking. One thing I just realized, the CSP (if I remember correctly) has a $5,000 minimum starting line. I assume since I got a pretty solid prequal for that, I'd get something decent on the Amazon Visa, but approval odds and terms vary per card I guess :/

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I wouldn’t bank on this. I have seen people with excellent scores and high incomes and cards like the CSR get low-balled on the Amazon card. Chase seems to be pretty stingy with it in general. If you want a good SL that will grow, the Store Card is a better bet unless you have a lot of Sync exposure or a low TU score. The only real drawback is it can only be used at Amazon.com. 

I do agree that your utilization may be a problem for Chase. 

[dudeman27]

Update:

I got approved instantly about 10 minutes ago. Initially on the Amazon site I was approved for $5K. I logged into Chase about 2 minutes later and saw the card, they doubled it to $10K. Inbetween my initial post and now I only had a marginal increase and 1-2 low payments update on my report. These were my scores (FICO 08 from myFICO) at the time of approval:

Equifax: 708

TransUnion: 710

Experian: 715