Can Chase credit or recon verify the balance on accts before statement cuts?

[Nyru]

Hey everyone,

Let's say I to apply for a credit card through chase for example. I PIF my card which had a high util %; & now, since my util % is 0, I apply for another card (say sapphire or explorer) . Can chase recon verify that it's in fact 0%, even though it hasn't shown on my latest CR because the statement hasn't technically cut yet? Or do they go strictly by CRs?

I know that seems like a silly question, and I imagine they could, I just want to be 100% sure. I'm  asking because I want to apply for a new card through chase. I just PIF'd my freedom which had a 95% util. Now it's 0%, but my statement cuts on June 15th. I'm planning a trip overseas and really can't wait much longer to reserve my plane tickets because of price fluctuations that will definitely occur mid June and it'll be closer to when I depart, and the increase in price probably won't be worth the rewards I'll get for waiting until mid June, then applying, then waiting for the card to arrive, then finally reserving end of June.

Thanks.

[enharu]

you asked the same thing before here: http://ficoforums.myfico.com/t5/Credit-Cards/Can-a-credit-card-company-get-an-up-to-date-CR-on-the-s...

Chase recon can verify that your balance is at 0, if the underwriter is willing to. However, there it is also likely that they'll tell you that they need ANOTHER hard pull after the statement cuts. This has happened. Even though they can see it on their screens I am guessing the analyst needs an updated copy of your CR on file to justify his decision for approving you in case a supervisor reviews it.

More importantly, your scores right now have already taken a hit because of the high utilization being reported on that card. You're not doing yourself any justice trying to apply with that score, because the CL you will be getting is going to be lower than what you should be getting if that 0 balance has already reported.

In the end, it's a YMMV situation. Honestly if I were you, I would just wait on the application and book the ticket now using another card. What I've written is based on the assumption the analyst is even willing to review your app. If unlucky, an analyst might just tell you to re-apply later on.

[Nyru]

Actually that previous post was regarding getting up to date CR from another credit company, not the same one. I did not ask the same question. But thank you for the response. It was very helpful. Take care.

[enharu]

Ah I see. You were asking about your Chase Amazon which is why I figured it's mostly the same thing. Well at least your Amex is about to update.

[dddewdrop]

   The short answer to your question is NO.

[LS2982]

---

@dddewdrop wrote:

   The short answer to your question is NO.

---

This is correct 

[b_seeker]

OP, part of the problem you'd face with attempting to convince an underwritier to do this would be that they can't see your other updated account balances. If this were the case, I'm sure people would do this method to mask their debt. For example, that can't verify that you paying off the Freedom wasn't cash advances from other cards.

[Nyru]

To the last 3 posts: I spoke with a Chase credit analyst. The answer to my question is yes. They can and do verify it. The analyst said I do NOT have to wait for my chase statement to cut, because they can verify it, without doing any HP.

[Rhaeny]

---

@Nyru wrote:

To the last 3 posts: I spoke with a Chase credit analyst. The answer to my question is yes. They can and do verify it. The analyst said I do NOT have to wait for my chase statement to cut, because they can verify it, without doing any HP.

---

What if the approval is based on score as well?  You'd be shooting yourself in the foot because your score will be based on the high utilization.  I say shooting in the foot because you might not get the CL that you want or need.  I'm just throwing this out there because I'm not sure what they do but think its worth thinking about.  Also if you wait till after your CR updates and you get approved, then you can have them expedite the card to you.