Chase Strategy

[Anonymous]

Real quick, here's my situation...

-691 CS

7% CU

-2 Inq

-3 baddies

-Currently at 3/24

-Current portfolio...Amex Gold, Amex Delta Gold, Amex BBP, Cap1 Venture1 ($7k CL), Cap1 QS1.

DYING to break into Chase ecosystem.  Yes, I've posted about some of this before but just now revisiting.  I've been declined for CSP twice in past 18 mos, reason was score, util and baddies.  Score and util improved.  Baddies still there.  What's my best strategy given my situation as outlined above...considering chances of approval and just the best way to go:

A-Apply for CSP, if approved then CIC or CIU or maybe CIP but that might be redundant with CSP, get as many Inks as I can, then go for CFU or CF?  And for every scenario where I get the CSP, the plan would be to upgrade to CSR in 12 months as there's no way I'd get it now.

B-Apply for CFU or CF as more likely to get approved (hold on to points till I'm approved for CIP or CSP) if approved then CIP, then as many Inks as possible, then CSP.

C-Hold off and resolve my baddies, which will most likely take a while and I really don't want to wait that long.  I know patience, and I have some, but really want in on UR ecosystem!

Finally, say I apply for CSP and get declined, can I immediately try for CFU or do I need to wait 30, 60 or 90 days?  If I can do same day, will I get a HP for both the CSP decline and CFU app?

Thanks!!

[jbestman007]

Stop cold apping. Use the preapproval tool. Or, get the Chase Journey app. Sign into that app everyday and check the "My Offers" tab. Sooner or later, it would show you the cards you are preapproved for. 

I was in the same situation you're in a month ago. I got the app and tracked it daily. Last week, three cards showed up. I applied for the CSP. Approved instantly.  Goodluck! 

[Anonymous]

I sense urgency in your post and that tanslates to a denial by Chase.  

You have some good cards already and you need to focus on fixing the problems keeping your scores down.  Even though you're 3/24 it doesn't translate to an approval.  

You can't go hog wild w/ Chase and double app and expect approvals....those days are over.  Minimum these days is 30 days between apps and longer if you're appearing to be high risk to avoid complete shutdown.  

[Anonymous]

---

@Anonymous wrote:

I sense urgency in your post and that tanslates to a denial by Chase.  

You have some good cards already and you need to focus on fixing the problems keeping your scores down.  Even though you're 3/24 it doesn't translate to an approval.  

You can't go hog wild w/ Chase and double app and expect approvals....those days are over.  Minimum these days is 30 days between apps and longer if you're appearing to be high risk to avoid complete shutdown.  

---

Thanks for the tip.  No urgency other than I just want in...so actually, yes urgency!   Not sure how that translates into Chase knowing what's happening in my brain and wanting to deny me though.  If they were in my brain they'd want to approve me.  Noted on the double app thing.  If denied will wait 30 and probably closer to 60 days before I try again.

[Anonymous]

Well, having been denied 2 X for the same card would be an indicator.

Anwyay... So, what's holding your score under 700?  Maybe there's something we can work on there?  There are some things that can be done to scrub negative items from your reports especially if you're within 6 months of them dropping off w/o intervention.

Your CSP wants are like me wanting Savor for the free $$ on the bonus... I've been denied there 2 times but, for too many accounts in the past 12-24 months excuse because Cap1 is being stingy w/ Savor.  Then again it could be that I kicked them to the curb 6 months prior to the 1st app and picked up several cards since then.  *shrug* I would still take their money and kick them to the curb again out of spite.

[Anonymous]

---

@Anonymous wrote:

Well, having been denied 2 X for the same card would be an indicator.

Anwyay... So, what's holding your score under 700?  Maybe there's something we can work on there?  There are some things that can be done to scrub negative items from your reports especially if you're within 6 months of them dropping off w/o intervention.

Your CSP wants are like me wanting Savor for the free $$ on the bonus... I've been denied there 2 times but, for too many accounts in the past 12-24 months excuse because Cap1 is being stingy w/ Savor.  Then again it could be that I kicked them to the curb 6 months prior to the 1st app and picked up several cards since then.  *shrug* I would still take their money and kick them to the curb again out of spite.

---

It's definitely the three baddies holding me back.  Also I have a young file with my oldest card just past 2 yrs old.  The delinquents are in collection and I'm paying, slowly but surely.  No reason to hurry because they'll stay there even if paid off.  $1,500 that is 1.5 years old, $1,200 that is two years old and $3,000 that is almost three years old.  So, none of them coming off anytime soon.  I called one place and offered to pay 50% if they'd do a PFD and they said they don't do that.  So zero reason to pay that off any faster than I need to as it will stay there for the full seven years, paid off or not.  I think...

Ideas?

[Anonymous]

Well, if you pay them off they'll stop updating monthly   not to mention if you have a manual review it could be the difference between an approval or denial.

[NRB525]

Congrats on getting the cards with AMEX.

In what way do you expect Chase UR cards are going to be better than the Gold and BBP? Keeping in mind the AF for the Chase cards?

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

Well, having been denied 2 X for the same card would be an indicator.

Anwyay... So, what's holding your score under 700?  Maybe there's something we can work on there?  There are some things that can be done to scrub negative items from your reports especially if you're within 6 months of them dropping off w/o intervention.

Your CSP wants are like me wanting Savor for the free $$ on the bonus... I've been denied there 2 times but, for too many accounts in the past 12-24 months excuse because Cap1 is being stingy w/ Savor.  Then again it could be that I kicked them to the curb 6 months prior to the 1st app and picked up several cards since then.  *shrug* I would still take their money and kick them to the curb again out of spite.

---

It's definitely the three baddies holding me back.  Also I have a young file with my oldest card just past 2 yrs old.  The delinquents are in collection and I'm paying, slowly but surely.  No reason to hurry because they'll stay there even if paid off.  $1,500 that is 1.5 years old, $1,200 that is two years old and $3,000 that is almost three years old.  So, none of them coming off anytime soon.  I called one place and offered to pay 50% if they'd do a PFD and they said they don't do that.  So zero reason to pay that off any faster than I need to as it will stay there for the full seven years, paid off or not.  I think...

Ideas?

---

I would consider addressing those collections.  They are just enough to make a collections agency file a lawsuit to collect.  I had that with a Capitol One credit card that I thought would just age off for $2,200, they filed a lawsuit, had me served and got a judgement all at the 5 year mark of the DOFD. Not a good experience.  

[sjt]

Regarding Collections: There are a few major Collection Agencies (Midland, PRM, and a few others) that will delete the tradelines if you pay or settle the accounts as long as the DOFD is 2 or more years. I would differently pay the one collection that will delete. Paying off the other two collections may not make a direct impact in your scoring, but you could get a bump because the balance will be zeroed out. It can also make a huge difference in a manual review of your credit as they will see that they have been paid off.

I would not apply for any cards until these collections are paid/settled and reflected on your CRA.