Chase Approval Question

[MarkintheHV]

A little bit of history....Filed BK7 back in 2011, everything is discharged and gone from reports.  I have forgotten if I burned Chase in the BK, so for a small test, I went to Amazon Visa prequal, and was told that I was prequalified for the Amazon Visa.  I really do not want the Amazon Visa, but would rather have the Chase Freedom.  I would assume that since Chase prequaled me for the Amazon Visa, that there should be any issues regarding the BK with Chase or the 5/24....

Is this a safe assumption?

[KJinNC]

Couple of things ... one is that prequalification does not guarantee approval. It could be, for example, that the prequalification tool does not consider if you burned them in the BK, but they'd see that in the actual application.

Also, Chase's Amazon card is pretty much exempt from 5/24, but core Chase cards are not, so that specific DP would be meaningless for a core card.

I am far from a Chase guru, though.

[FinStar]

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@MarkintheHV wrote:

A little bit of history....Filed BK7 back in 2011, everything is discharged and gone from reports.  I have forgotten if I burned Chase in the BK, so for a small test, I went to Amazon Visa prequal, and was told that I was prequalified for the Amazon Visa.  I really do not want the Amazon Visa, but would rather have the Chase Freedom.  I would assume that since Chase prequaled me for the Amazon Visa, that there should be any issues regarding the BK with Chase or the 5/24....

Is this a safe assumption?

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Not necessarily. 

A pre-qualification still needs to cross-check prior negative [internal] history once you click/accept the offer, but there have been plenty of DPs where it can go either way. For the Amazon Visa, it sounds like that would have better odds, and if you're currently over 5/24 (not sure if your signature is up-to-date), then the pre-approval should bypass that hurdle.

If you were to try for a Chase core CC, potentially you could be approved w/o issues (if under 5/24), but in the event the prior negative relationship is cited, you could try the reconsideration approach since BK is no longer on reports.

The only way to know for sure in your specific situation is when/if you apply.

Also, as dicussed on another of your threads, be sure all your CRs are thawed. Otherwise, you can risk a declined application.

[coldfusion]

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@MarkintheHV wrote:

Is this a safe assumption?

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No.   There are plenty of data points demonstrating that Chase' prequalification tool does not factor in every senario that triggers an automatic denial that cannot be overturned on recon. 

[FinStar]

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@KJinNC wrote:

Couple of things ... one is that prequalification does not guarantee approval. It could be, for example, that the prequalification tool does not consider if you burned them in the BK, but they'd see that in the actual application.

Also, Chase's Amazon card is pretty much exempt from 5/24, but core Chase cards are not, so that specific DP would be meaningless for a core card.

I am far from a Chase guru, though.

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@KJinNC 

No, the Chase Amazon is not "pretty much exempt from 5/24". There are plenty of DPs here, other boards and elsewhere where absent of any pre-approved offers, one can still be denied this particular card with 5/24 (or greater). There is nothing official from Chase (nor anything published in DoC, TPG, etc.) that indicates that the Chase Amazon Visa is now 'clear' from the 5/24 restriction. Same for United, SWA, etc. They may have relaxed some of the restrictions, but that's on a selective basis and profile-specific.

[KJinNC]

I think it's fair to say it's pretty much exempt. There are many examples of people being approved way beyond 5/24. Someone being denied when beyond 5/24 doesn't indicate 5/24 is the reason. Being "pretty much exempt" means that is not a reason that, by itself, will gatekeep you from getting the card, and I think we have enough data to say that is the case.

At most, being over 5/24 may be a minor negative that is not enough to result in denial, but may add to other reasons and lead to denial, but I'm not even sure that's the case.

In any case, regardless how we phrase it, 5/24 is not the same for Chase Amazon as for Chase core cards at this point, which is the relevant point for the OP's question IMO.

[SouthJamaica]

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@MarkintheHV wrote:

A little bit of history....Filed BK7 back in 2011, everything is discharged and gone from reports.  I have forgotten if I burned Chase in the BK, so for a small test, I went to Amazon Visa prequal, and was told that I was prequalified for the Amazon Visa.  I really do not want the Amazon Visa, but would rather have the Chase Freedom.  I would assume that since Chase prequaled me for the Amazon Visa, that there should be any issues regarding the BK with Chase or the 5/24....

Is this a safe assumption?

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It's possible.  But a safe assumption? No it is not.

If you're 5/24 or worse, you would still have a reasonable chance on the Amazon card, since there are many reported instances of 5/24 being overridden by preapprovals for that card, but your chances would be less on the Chase Freedom card unless you have a preapproval for that card as well.

BTW the Chase Amazon Prime card is a pretty good card: 5% cashback on everything Amazon, & 2% back on dining, drug stroes, and gas.

[FinStar]

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@KJinNC wrote:

I think it's fair to say it's pretty much exempt. There are many examples of people being approved way beyond 5/24. Someone being denied when beyond 5/24 doesn't indicate 5/24 is the reason. Being "pretty much exempt" means that is not a reason that, by itself, will gatekeep you from getting the card, and I think we have enough data to say that is the case.

At most, being over 5/24 may be a minor negative that is not enough to result in denial, but may add to other reasons and lead to denial, but I'm not even sure that's the case.

In any case, regardless how we phrase it, 5/24 is not the same for Chase Amazon as for Chase core cards at this point, which is the relevant point for the OP's question IMO.

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Unfortunately, unless you're running detailed statistics directly from the issuer, there isn't enough information to support that claim. Your opinion, sure, but I'm sure statistics can show otherwise.

And, while any DPs can be posted anywhere on the interwebz, there isn't a consolidated repository to state such "exemption" with accuracy. For one, not everyone posts their DPs, (2) not all declined applications are posted with such details, and (3) there are several resources that catalogue the information. The most reliable DPs when it comes to Chase 5/24 and the Amazon Visa are those that have a pre-approved offer that would bypass the 5/24 restriction (much like those available with green stars/black stars offers on core cards).

So as far as the OP's situation, as reiterated upthread, it's up to them to pull the trigger and see what yields for a Chase core CC (absent of any pre-approval).

[jcooks]

I burned Chase for about $5k+ and went into collection about 10 years ago, settled for less with CO a few years after that.  Fast forward to last year, I applied for the Chase Freedom Flex, instant denial.  I called for recall, first attempt I failed, 2nd attempt was approved for $700.  A few months after, it was auto CLI'd to $1200.  6 months after applying for that, I applied for the CSP, instantly approved for over $12k, 6 months after, I was instantly approved for Hyatt for another $12k+.  

If you really want back in with Chase, I recommend going for it (pending you're within the 5/24 rule).  Just my DPs differ as I did partially pay them back, if you did burn them in BK.