No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I just opened myself a Checking account with Chase, online, and on the "Just for you" page I see a pre-qualified offer for Saphire Preferred. I have an extremely thin credit file. 1 year 3 cards in total, less than 5k limits in total. I thought Chase was more selective. Does that mean I will get the card if I apply?
Welcome to the forums!
One main indicator is to check if it shows a single APR or a range. If it shows a single APR (preferably the lowest of the APR range on the public site), then you have a decent change if your income supports a $5k SL. Good luck, OP!
IMO. Chase has nothing to loose if you take this card. They love seeing thin files, and nothing to long, and stuff that takes a long time for them to review.
Most of the time when you apply its a computer doing it.
@Anonymous wrote:IMO. Chase has nothing to loose if you take this card. They love seeing thin files, and nothing to long, and stuff that takes a long time for them to review.
Most of the time when you apply its a computer doing it.
Umm, that's just a tad bit inaccurate.
The financial instituion I worked for had computer algorithyms. While I can not tell anybody whom I worked for, I can say they are a " big entity". This is why you have a reconsideration line when the computer gets it wrong, and the "Please wait 7-10 days" It means the computer got it wrong. Certain writing principles go in to place. Many auto loans are done this way as well. They generate a score, and if the score meets their writing guidelines then it will kick back approved.
While audit teams do generally review the applications we can not see hundreds, and hundreds of applications each day.
@Remedios wrote:
@Anonymous wrote:IMO. Chase has nothing to loose if you take this card. They love seeing thin files, and nothing to long, and stuff that takes a long time for them to review.
Most of the time when you apply its a computer doing it.
Umm, that's just a tad bit inaccurate.
@Anonymous wrote:The financial instituion I worked for had computer algorithyms. While I can not tell anybody whom I worked for, I can say they are a " big entity". This is why you have a reconsideration line when the computer gets it wrong, and the "Please wait 7-10 days" It means the computer got it wrong. Certain writing principles go in to place. Many auto loans are done this way as well. They generate a score, and if the score meets their writing guidelines then it will kick back approved.
While audit teams do generally review the applications we can not see hundreds, and hundreds of applications each day.
@Remedios wrote:
@Anonymous wrote:IMO. Chase has nothing to loose if you take this card. They love seeing thin files, and nothing to long, and stuff that takes a long time for them to review.
Most of the time when you apply its a computer doing it.
Umm, that's just a tad bit inaccurate.
While that may be the case for whichever FI you may have worked for, the actual bolded statement, in specific to the product the OP was interested in applying for is inaccurate. That's likely what @Remedios may have been referring to.
Every lender has their own matrix criteria for specific products and threshold requirements, but to say that Chase "loves thin files" when it comes to the CSP is a blanket statement that would not apply 100% of the time.
@Anonymous wrote:The financial instituion I worked for had computer algorithyms. While I can not tell anybody whom I worked for, I can say they are a " big entity". This is why you have a reconsideration line when the computer gets it wrong, and the "Please wait 7-10 days" It means the computer got it wrong. Certain writing principles go in to place. Many auto loans are done this way as well. They generate a score, and if the score meets their writing guidelines then it will kick back approved.
While audit teams do generally review the applications we can not see hundreds, and hundreds of applications each day.
@Remedios wrote:
@Anonymous wrote:IMO. Chase has nothing to loose if you take this card. They love seeing thin files, and nothing to long, and stuff that takes a long time for them to review.
Most of the time when you apply its a computer doing it.
Umm, that's just a tad bit inaccurate.
The OP's question is about Chase lending practices, not places where some of us may or may not work.
I've taken the liberty of pointing out inaccuracies in the post again.
If you have any DPs on Chase loving thin and 'nothing to long' files, I would love to see them.
@FinStar wrote:
@Anonymous wrote:The financial instituion I worked for had computer algorithyms. While I can not tell anybody whom I worked for, I can say they are a " big entity". This is why you have a reconsideration line when the computer gets it wrong, and the "Please wait 7-10 days" It means the computer got it wrong. Certain writing principles go in to place. Many auto loans are done this way as well. They generate a score, and if the score meets their writing guidelines then it will kick back approved.
While audit teams do generally review the applications we can not see hundreds, and hundreds of applications each day.
@Remedios wrote:
@Anonymous wrote:IMO. Chase has nothing to loose if you take this card. They love seeing thin files, and nothing to long, and stuff that takes a long time for them to review.
Most of the time when you apply its a computer doing it.
Umm, that's just a tad bit inaccurate.
While that may be the case for whichever FI you may have worked for, the actual bolded statement, in specific to the product the OP applied for is inaccurate. That's likely what @Remedios may have been referring to.
Every lender has their own matrix criteria for specific products and threshold requirements, but to say that Chase "loves thin files" when it comes to the CSP is a blanket statement that would not apply 100% of the time.
Jinx
I decided to pull the plug and got approved with 11k. My highest limit. I really wanted this card as I have to travel quite often. Thanks for the replies!