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Chase AA

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Chase AA

Hello everyone,

It's my favorite time of the year.... STUDENT LOANS jk kill me. Anyway my fall bill and financial aid package was released today and I want to apply for my loan before the beginning of August (my school takes 30+ days to "receive" my loans and tries to charge me a late fee). I have recently opened a Chase Sapphire Preferred and Amex platinum(soft pull) in the same day and also applied and was denied for a Citi Card so in total 2 new inquiries last month and 2 new accounts. Amex has not hit report yet but chase has. I don't want to spook chase because they approved me for a 12.5k CSP and increased my FU from 500-2000 two days after my approval. I've read horror stories about chase closing all accounts due to too many new accounts and inquires. Long story short, will I be okay to add a discover hard pull to my credit report and add a student loan. I have a checking and Freedom unlimited with chase as well. Just don't want to spook them



Very Happily in the garden until June 2020
Goal Cards:
Chase Amazon Prime
Chase Sapphire Reserve
14 REPLIES 14
Valued Contributor

Re: Chase AA

You'll be fine w/ Disco and SL's. 

 

The main issue with Chase is picking up multiple Chase products and then stacking several approvals on top of that.  Chase will be SPing your reports for the first week or so and again on a monthly basis looking for accounts.  As long as you don't go overboard you'll be fine and Amex won't even report for 2 months or more.

500K+ TCL / 800+ FCOs
Message 2 of 15
Community Leader
Senior Contributor

Re: Chase AA

Let’s all try to stay on topic to the op’s question. 

 

I agree with @Obscure-Expert , you’ll be fine based on the info you provided us. 

AMEX Platinum, Gold, Reserve & SPG | PenFed PR VS | NFCU FS VS | Discover IT | Citibank DC WEMC l Capital One Venture VS | Nordstrom VS l Banana Republic LUXE V I Lowes I Macys I Wayfair I
Message 3 of 15
Established Contributor

Re: Chase AA


@Bmn5940 wrote:
Hello everyone,

It's my favorite time of the year.... STUDENT LOANS jk kill me. Anyway my fall bill and financial aid package was released today and I want to apply for my loan before the beginning of August (my school takes 30+ days to "receive" my loans and tries to charge me a late fee). I have recently opened a Chase Sapphire Preferred and Amex platinum(soft pull) in the same day and also applied and was denied for a Citi Card so in total 2 new inquiries last month and 2 new accounts. Amex has not hit report yet but chase has. I don't want to spook chase because they approved me for a 12.5k CSP and increased my FU from 500-2000 two days after my approval. I've read horror stories about chase closing all accounts due to too many new accounts and inquires. Long story short, will I be okay to add a discover hard pull to my credit report and add a student loan. I have a checking and Freedom unlimited with chase as well. Just don't want to spook them

Lay off of the revolvers and the student loans won't hurt. Living the high life on credit while a student will. Paying for your education will not.



“If you don’t know, the thing to do is not to get scared, but to learn.” – Ayn Rand
Message 4 of 15
Contributor

Re: Chase AA

Oh yeah absolutely I agree I don't live off credit as it is. My total for the year after financial aid will be about $10,000 which is exactly what I'm applying for. My utilization never goes over 10% always pay in full except for sometimes I leave small balances on a card or two month to month (pack of gum, pair of shoes) so my accounts show a little activity. But anyway just wanted to gather some opinions of a discover student loan hard pull and new account will spook chase Smiley Sad



Very Happily in the garden until June 2020
Goal Cards:
Chase Amazon Prime
Chase Sapphire Reserve
Message 5 of 15
Super Contributor

Re: Chase AA

You added Platinum ( $550 ) and CSP ( $95 ) so AF are now significant.  What is your SUB spend requirement for the next three months?

 

I am confused, are you applying for a Discover student loan, or a Discover card and separately a student loan?  

 

The Discover card should wait. One of the attractions for that card is double cash back, but you will be allocating a fair amount of a relatively small spend to other cards. 

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 6 of 15
Contributor

Re: Chase AA

Sorry should have been more clear I am applying for ONLY a discover student loan no new credit cards. I am worried chase won't like the new inquiry and account showing up



Very Happily in the garden until June 2020
Goal Cards:
Chase Amazon Prime
Chase Sapphire Reserve
Message 7 of 15
Community Leader
Mega Contributor

Re: Chase AA

If you're only talking about student loan application, you should be fine. 

EX 759 EQ 774 TU 753


Message 8 of 15
Regular Contributor

Re: Chase AA

@ bmn5940

would you mind sharing your income to qualify for the C$P card as a college student?

Message 9 of 15
Valued Contributor

Re: Chase AA

As always YMMV, but I opened 5 new accounts around the same time as the CSP. 2 of them were Amex so they reported much later than the others. I never received any AA from Chase, however. Not that I would advocate poking any bears, but in your instance you should be okay. 

 

 






Message 10 of 15
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