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Chase Bank - No Hard Pull?

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Chase Bank - No Hard Pull?

So last night I was checking over my SO's credit file because she applied for a personal loan of $4500 and was approved at JSC Federal CU. Then I ended up checking on the balances on all of our CC accounts. While I was in the Chase portal I noticed that she had a offer for the CSP; didn't initally pay it any mind because she got denied for the BCE on AMEX the day before. After messing around I decided to go to the "Just for you" section. The CSP offer was not there, so I said oh well. Then went back to the main portal screen and it was back. So I decided to just go for it. Looked through the T&C and saw a solid % and felt even better about apping. But this time around all they required was annual income and phone number also a message to paraphrase, "For being a exsisting Chase customer, we'll make the application process easier for you". Clicked submit for review and it processed the "application" and she was approved for $9k. So my questions are....

 

Does anyone know or can confirm possible data points that Chase is not doing hard pulls for exsisting customer?

Did it actually count as a hard pull and will eventually show up on her CR?

 

Any insight will be helpful.

11 REPLIES 11
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Valued Contributor

Re: Chase Bank - No Hard Pull?

Yes it's a HP and usually a double HP between 2 CR's.  For me it's usually EQ/EX.  

500K+ TCL / 800+ FCOs
Message 2 of 12
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Moderator

Re: Chase Bank - No Hard Pull?


@Leonayr wrote:

So last night I was checking over my SO's credit file because she applied for a personal loan of $4500 and was approved at JSC Federal CU. Then I ended up checking on the balances on all of our CC accounts. While I was in the Chase portal I noticed that she had a offer for the CSP; didn't initally pay it any mind because she got denied for the BCE on AMEX the day before. After messing around I decided to go to the "Just for you" section. The CSP offer was not there, so I said oh well. Then went back to the main portal screen and it was back. So I decided to just go for it. Looked through the T&C and saw a solid % and felt even better about apping. But this time around all they required was annual income and phone number also a message to paraphrase, "For being a exsisting Chase customer, we'll make the application process easier for you". Clicked submit for review and it processed the "application" and she was approved for $9k. So my questions are....

 

Does anyone know or can confirm possible data points that Chase is not doing hard pulls for exsisting customer?

Did it actually count as a hard pull and will eventually show up on her CR?

 

Any insight will be helpful.


There was a HP or two.

 

Check CK for EQ and TU pulls. EX offers free report (along with fico 8 score)

Message 3 of 12
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Contributor

Re: Chase Bank - No Hard Pull?

It will always be a hard pull with chase, depending on your location, one or two as well. For me, since EX was frozen, only TU was pulled.
EX: 765
EQ: 760
TU: 758

Discover it 6/2014 -> $14900
Citi Costco 8/2014 -> $2100
AMEX EDP 2/2017 -> $2000
Chase CFU 6/2017 -> $5000
Chase IHG 7/2017 -> $2400
Chase SW Priority 9/2017-> $2000
Chase SW Premier 3/2018 -> $5000
AMEX Platinum 3/2018 -> NPSL
AMEX BBP 5/2018 -> $9000
Citi AA Biz 7/2018 -> $5000
Barclays AA Biz 7/2018 -> $2500
AMEX SPG Biz 9/2018 -> $10000
Citi Premier 10/2018 -> $5500


Avianca Vuela 11/2018 $5200
Chase Sapphire Preferred 01/2019 $6700
Message 4 of 12
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Frequent Contributor

Re: Chase Bank - No Hard Pull?

Honestly it sounds like her profile might fit the description of "aggressive credit seeking behavior", so I would lay low on applying for new cards right now or you risk getting adverse actions taken against the new and/or existing accounts.

 

She applied and got denied for an Amex yesterday, and then applied for and received a personal loan - I'd just leave it at that. If she applies for another card (especially a Chase card) immediately after failing to get an Amex and taking out a personal loan, it could get ugly. Even if Chase initially approves the new card, they could change their mind later after they see the other credit activity.

    Combined Loan Balances: $39k / $76k
    Combined CL: $26.9k (Util. varies between 15-40% each month)

Fico 8 Scores:
12/2018:
09/2019:
12mo Inquiries:
7 derog. (all settled 1/2019)     |     AoOA: 10.5yr     |     AAoA: 5.4yr     |     4/24 until 4/2021
Message 5 of 12
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Super Contributor

Re: Chase Bank - No Hard Pull?

DW just picked up a CSP this way... the HP on TU showed up immediately, the HP on EX showed up a day or two later.

 

Expect HPs.

02/01/20 Fico 8: EX 704, EQ 713, TU 725.
02/08/20 Fico 9: EX 689, EQ 678, TU no idea...

Zero percent financing is where the devil lives...
Sitting in the garden behaving myself. #noinqs2020
Message 6 of 12
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Moderator Emeritus

Re: Chase Bank - No Hard Pull?


@coreysw12 wrote:

Honestly it sounds like her profile might fit the description of "aggressive credit seeking behavior", so I would lay low on applying for new cards right now or you risk getting adverse actions taken against the new and/or existing accounts.

 

She applied and got denied for an Amex yesterday, and then applied for and received a personal loan - I'd just leave it at that. If she applies for another card (especially a Chase card) immediately after failing to get an Amex and taking out a personal loan, it could get ugly. Even if Chase initially approves the new card, they could change their mind later after they see the other credit activity.


I doubt that.

 

I'll admit if you go back far enough on this forum circa 2012 I basically was the initial proponent of spree methodology being smart.  Summary stats, which demonstrates my spree and then gardening repeatedly, and this includes a total of 7 Chase cards being sprinkled in through there including recent datapoints under their modern UW guidelines.  

 

Total Accounts on file34
Open Revolvers18
Opened within 6 months2
Opened within 12 months4
Opened within 18 months4
Opened within 24 months4
Opened within 36 months4
Opened within 48 months17
Opened within 60 months17
Opened within 72 months21
Opened before 72 months13
AAOA (months)57


Zero AA.  I don't see any benefit in promoting these stories from a community perspective currently, lenders are not that skittish in the current market.  I'm not trying to say that everyone is going to have the same experience, but to that point most people aren't going to get flagged for "aggressive credit seeking behavior" either, almost always something else is wrong and again it's a small subset of the population.

 

And frankly, if AA happens?  So what?  Means nothing long term, and nothing ventured nothing gained: an overabundance of caution simply retards one's credit portfolio.




        
Message 7 of 12
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Regular Contributor

Re: Chase Bank - No Hard Pull?

I'm an existing Chase customer who got a CSP on Tuesday based on an application a few days before. And they HP'd EQ and EX for me. BTW, I think your SO is pretty lucky you scored her that card! Hope she appreciates your assistance!

Message 8 of 12
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Super Contributor

Re: Chase Bank - No Hard Pull?

There’s also the point that one doesn’t need to be opening a new card every couple months, whether or not we think they’d receive AA. I agree it’s best not to be paranoid about it, but you don’t have to invite it with constant apping, either.

Yes it is fairly rare but it does happen. Algorithms are becoming more sophisticated against credit seeking/churning behavior.
Message 9 of 12
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Moderator Emeritus

Re: Chase Bank - No Hard Pull?


@kdm31091 wrote:
There’s also the point that one doesn’t need to be opening a new card every couple months, whether or not we think they’d receive AA. I agree it’s best not to be paranoid about it, but you don’t have to invite it with constant apping, either.

Yes it is fairly rare but it does happen. Algorithms are becoming more sophisticated against credit seeking/churning behavior.

True that KDM, to be fair all my spree mechanic 'splaining also included a cycle of non-trivial gardening too and never pick up any tradeline just to pick up a tradeline: have a purpose for it.  After I got through initial credit establishment which I'll call ended by 1/1/13 when I picked up the Freedom and BCE (nee BCP) among other accounts:

 

15 months gardening

Spree

14 months gardening

Mortgage + Spree

10 months gardening

Spree cause I didn't really rationally care about credit, mortgage goal obtained so w/e

22 months gardening

I suspect I could be labeled sloppy and stupid at this point (auto loan and some less than coherent choices to be fair, reindeer games and SUB chasing), but back in the saddle trying to keep that pretty mortgage mid score of a 767.

 

I suspect the striking thing about the pattern and number of accounts is that I could find so many accounts that had a use at a given time in my credit journey, literally I can go down all 34 accounts (open/closed) on my file and explain exactly what it did for me at that time: that's arguably the goal everyone should subscribe to, even if it's just "picked it up for the SUB" that's still a plan.

 

Ultimately it's about building a pretty file and at least maintaining some modicum of score, because s*** happens and it's better to have the score and file to support making credit changes when you need it, than not having it and trying to finance things at a suboptimal APR or worse.




        
Message 10 of 12
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