Chase Credit Card Approval upon total bank deposit over 10k?

[kchui1028]

I was recently denied credit for a Chase Ink Business Card and my banker later told me that I should deposit 10k more into the account and he can get my business credit card approved with no problem. He said it's necessary to have at least 10k total deposit and he can file for reconsideration and get my card approved.

I currently have around 8k in my account so I am puzzled if that's really the reason from the credit department or are they basically trying to fool me into making a big deposit so they can earn commissions.

Is that possible or is the banker just trying to get me to deposit more money by opening a new saving account for more commissions? Have you ever heard of anything like that?

[lolabelle]

I'm not an expert, but that sounds very odd to me.  I have had a Chase Ink since 2007 (though it was called something else at that point), and when I got it my credit score was good but I was living paycheck to paycheck.  There was very little money in my bank account at any given moment.

Have you called the Chase credit analyst backdoor number?

[kchui1028]

Yeah, This puzzles me as well since both my business banker and personal banker mentioned that once I have 10k total in my accounts, They can request for a reconsideration for the business credit card and can get me approved. I currently have about 8k, so 2k difference in my bank account caused denied? I also understand the fact that they denied me because of my bad repossession history 4 years ago. So I doubt if that's the real case from the credit department or are they just trying to get me to deposit more money for their own commissions.

[kchui1028]

BTW.. yes, I called the credit card approval number, and the woman told me the result is not available on her system yet even though i already got a second reconsideration denial letter a few days ago. So she gave me the lending department (9-5) so I will give them a call tomorrow to find out if that's the case.

[Anonymous]

By the same theory, if I open a Chase banking account my odds at paladium would be greater. Sound right?

[kchui1028]

Haha.. I donno about that. Please keep in mind that I'm asking this question because I was told that IS the CASE from both the Business Banker and Personal Banker at my branch. So either that's the case or they were lying balantly in my face.

[SwiftTone]

When I was reconning for a CSP, I told them I was going to make Chase my main bank, which was true. I was told that the credit side of the bank was seperate from the deposit account side.

food for thought 

[Open123]

My understanding is that it makes very little difference, unless it's a substantial amount.

[hemi961]

Having money on deposit at a bank in most cases doesn't affect your chances of obtaining a credit card.  However, IF you want the bank manager at Chase to intervene on your behalf, you need to have $10,000 in deposits.  I don't have any personal experience with this but there were numerous posts about this a year or 2 ago.  According to reports, the banker or bank manager can usually get the card issued by doing the recon for you.

[Anonymous]

So:

1. Open account.

2. Drop 10K in.

3. Get card.

Seems to easy. I am moving very soon and will have to check out if there is any Chase branch around. If so, this may work out.