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Over 5/24 but pre-approved on chase website? - Update Approved

Green456
Established Contributor

Over 5/24 but pre-approved on chase website? - Update Approved

I last got 2 credit cards 7 months ago, one from Citi and one from US Bank. I am now 6/24, I have a chase checking account and recently started new job, 6 figures. When I checked Chase website for pre-qualified credit offers, they have for me there 3 credit cards: Chase Freedome, CFU and Chase Sapphire. How solid is Chase pre-approval when someone is over 5/24?

Message 1 of 22
21 REPLIES 21
Chasinggreat
Member

Re: Over 5/24 but pre-approved on chase website?

If it's giving you a fixed interest rate and not a range it's a pretty solid offer. 

Message 2 of 22
simplynoir
Community Leader
Super Contributor

Re: Over 5/24 but pre-approved on chase website?


@Chasinggreat wrote:

If it's giving you a fixed interest rate and not a range it's a pretty solid offer. 


+1

 

It's not a given you'll be approved but for being over 5/24 and if it's a solid APR that's pretty much as good as you're going to get while waiting to get back under said 5/24

Message 3 of 22
VanderSnoot
Established Contributor

Re: Over 5/24 but pre-approved on chase website?

Chase gave me a CF at 6/24 during an app spree that took me to 11/24 and then three months later gave me a CSP (at 10/24). So, pretty solid.

 

That said, I'm now firmly in the garden for a min of 6 months - and preferably a year or more (depending on needs).

Message 4 of 22
Green456
Established Contributor

Re: Over 5/24 but pre-approved on chase website?


@Chasinggreat wrote:

If it's giving you a fixed interest rate and not a range it's a pretty solid offer. 


16.74 APR

Message 5 of 22
Green456
Established Contributor

Re: Over 5/24 but pre-approved on chase website?

App went into review. Annoyed... Don't prequalify me unless you are going to instantly approve me. Just venting now...

Message 6 of 22
Remedios
Moderator

Re: Over 5/24 but pre-approved on chase website?

Your offer is not preapproval, it's a prequal
Less reliable because prequals are based on minimum criteria set forth by lender.
Whenever you're over 5/24, some kind of review is to be expected. It's better than instant denial
Prequal, unlike green checkmark with limit showing, it's not a firm offer.
However, I got both of mine that way while well over 5/24
Let them do their job and allow process to play itself. You should be fine

With that said, while fairly reliable, even green checkmark is not impervious to denials
Message 7 of 22
Green456
Established Contributor

Re: Over 5/24 but pre-approved on chase website?


@Remedios wrote:
Your offer is not preapproval, it's a prequal
Less reliable because prequals are based on minimum criteria set forth by lender.
Whenever you're over 5/24, some kind of review is to be expected. It's better than instant denial
Prequal, unlike green checkmark with limit showing, it's not a firm offer.
However, I got both of mine that way while well over 5/24
Let them do their job and allow process to play itself. You should be fine

With that said, while fairly reliable, even green checkmark is not impervious to denials

Thank you. Will keep that in mind next time.

Message 8 of 22
Remedios
Moderator

Re: Over 5/24 but pre-approved on chase website?

I think you will be fine. May take a few days or a bit longer, but it should work
Looking forward to an approval thread from you
Message 9 of 22
flyingmd
Frequent Contributor

Re: Over 5/24 but pre-approved on chase website?

Let us know. Same exact scenario just happened to me. I had a solid interest rate but am at 5/24. App went into review. When I called the credit analyst, he denied based on the 5/24 (told me I could apply again in November ) I even offered to close one of the cards I recently opened no dice. I have a high 6 figure income and scores in the 740-750 range. Good luck.
Message 10 of 22
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