Chase Pre-qual, how accurate

Anonymous · ‎03-14-2017

I already have Chase Slate with a 4,200 SL (opened in Oct 2016,along with 2 other cards), so I'm just curious how accurate the chase prequal page is?

It said:

"Leezzy, here are your prequalified offers"

One was freedom and the other was sapphire preffered...both came up with a fixed APR, not a range. I know with discover if the range is less than 3 pts, its almost a sure thing...was wondering if chase is the same?

I don't think I'll app for it, more of a curiosity than anything.

Anonymous · ‎03-14-2017

Chase pre-quals are normally VERY solid

Glkslngr · ‎03-14-2017

As Tigers09 said, Chase prequals, especially with a specific APR, are pretty reliable.

Anonymous · ‎03-14-2017

I'm not exactly sure how their 5/24 system works...is it only chase cards, or all new cards or 5 inquiries? I have 4 cards now...Slate, DC, Barclay rewards, and a discove that unsecured at $200 and will not budge.

I am thinking about it...though not at all desperate for credit atm, and actually am working towards paying down balances.

Stranger still, my Slate is at 62% util, while Discover and Barclays (200/2000) are both at 0%, and my Citi ($1000) is at about 45ish%

I may wait until next month and see if the rates go down...they are offering 24.something on the freedom and 23.something on the SP...I think my slate is in the high 22% range.

Glkslngr · ‎03-14-2017

I'd get that Slate balance down before applying, at least under 10% util imo. The 5/24 rule is any new 5 cc's opened on your credit report within 24 months on the bureau they pull. So, if it's Experian they usually pull for their apps, make sure your Experian doesn't have more than 5 new cc's in 24 months. Someone feel free to correct me if im wrong about any of this.

And what is the CL's on your Slate and Citi?

Edited to change 'inquires' to 'cc's"

Anonymous · ‎03-14-2017

@Anonymous wrote:
I'm not exactly sure how their 5/24 system works...is it only chase cards, or all new cards or 5 inquiries? I have 4 cards now...Slate, DC, Barclay rewards, and a discove that unsecured at $200 and will not budge.

I am thinking about it...though not at all desperate for credit atm, and actually am working towards paying down balances.

Stranger still, my Slate is at 62% util, while Discover and Barclays (200/2000) are both at 0%, and my Citi ($1000) is at about 45ish%

I may wait until next month and see if the rates go down...they are offering 24.something on the freedom and 23.something on the SP...I think my slate is in the high 22% range.

revolving credit accounts opened within the past 24 months.

Inquiries have nothing to do with Chase's 5/24 rule.

Anonymous · ‎03-14-2017

the 5/24 rule is any credit/charge accounts. Inquiries don't matter.

If the prequal is in the "your offers" not the regular prequal site you stand a very good chance even if over 5/24.

Glkslngr · ‎03-14-2017

Knew I was wrong about that 5/24 rule. Lol. Now we know!

Anonymous · ‎03-14-2017

@Anonymous wrote:
the 5/24 rule is any credit/charge accounts. Inquiries don't matter.

If the prequal is in the "your offers" not the regular prequal site you stand a very good chance even if over 5/24.

Hi everyone,

It wasn't in my offers page in my account, but their regular prequalify tool - the "special offers for you" page just plain does not work at all on my browser. Much of Chase's website shows up odd, if we're being honest.

Someone asked what my limits were and they are: Discover ($0/$200), Barclaycard rewards ($16/$2000), Citi (about $500/$1000), Chase Slate ($2700/$4200).

Slate was originally opened at $3000 in late october, for some reason I got a $200 boost when I activated it...and then a automatic $1000 sometime in January.

My next focus is paying down the slate.

Like I mentioned before, I have no need for a new card now (though I do wis I app'd for the freedom originally, i dont know what possessed me to go with slate...i guess i thought slate is a easier card)...this is more knowledge for the future.

Thanks as usual for everyone's help and guidance.

Anonymous · ‎03-14-2017

@Anonymous wrote:
the 5/24 rule is any credit/charge accounts. Inquiries don't matter.

If the prequal is in the "your offers" not the regular prequal site you stand a very good chance even if over 5/24.

Agreed.