Chase accounts?

[mowglidude]

I was wondering if having a Chase checking and/or savings account helps with CC approvals? If so, if I have already app'ed for cards, is it too late to open an account? I am thinking of moving my account to Chase anyways, but should I wait until after approval process or just go now?

[Anonymous]

Search down a 300 dollarcoupon code on new checking before you do.

[DeeBee78]

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@mowglidude wrote:
I was wondering if having a Chase checking and/or savings account helps with CC approvals? If so, if I have already app'ed for cards, is it too late to open an account? I am thinking of moving my account to Chase anyways, but should I wait until after approval process or just go now?

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In addition to your FICO scores, Chase has an internal scoring model that does seem to factor in approvals for some people. 

Many people have had success getting Chase cards at lower-than-normal FICO scores, becuase they have other assets in Chase-held accounts. 

I think it would be beneficial, if you're trying to get in with Chase, to use them. However, I don't think the effect will be instantaneous. 

[FinStar]

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@mowglidude wrote:
I was wondering if having a Chase checking and/or savings account helps with CC approvals? If so, if I have already app'ed for cards, is it too late to open an account? I am thinking of moving my account to Chase anyways, but should I wait until after approval process or just go now?

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Not necessarily, but if if you have a decent depository relationship (translation = lots of $$$) then sometimes it can be used in the consideration process since Chase tends to be a relationship bank.  Now that being said, if credit is in the toilet, it wouldn't matter if you had X amount in deposits with Chase since an approval isn't likely going to fly.  Some bankers (depending on the market/region) can submit exception or consideration requests on behalf of the applicant but they're not always successful since it all still boils down to the individual's credit profile, income, etc.

As mentioned upthread, if you plan on opening an account check to see if there is a sign up bonus and read the T&C of the offer.

[mowglidude]

So it sounds like it wouldn't help much for me to open a new checking account now, a week and a half into pending/verification review process of two cards. Yeah, there would be no direct deposit history or recent transactions.

[FinStar]

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@mowglidude wrote:
So it sounds like it wouldn't help much for me to open a new checking account now, a week and a half into pending/verification review process of two cards. Yeah, there would be direct deposit history or recent transactions.

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Not in the middle of current applications in process I'm afraid.  It would be a moot point unless you were considering moving your current banking relationship to Chase and were contemplating additional Chase products on the horizon.

[mowglidude]

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@FinStar wrote:

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@mowglidude wrote:
So it sounds like it wouldn't help much for me to open a new checking account now, a week and a half into pending/verification review process of two cards. Yeah, there would be direct deposit history or recent transactions.

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Not in the middle of current applications in process I'm afraid.  It would be a moot point unless you were considering moving your current banking relationship to Chase and were contemplating additional Chase products on the horizon.

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All right, cool! I'll just hold off and continue the waiting game and not throw a wrench into the process.

[Creditwiser]

My DW received an offer for her Freedom card last year and was approved for a 1k SL.   At the time her scores were in the mid 600's with some derogs still reporting.  She did however have over 20k in her checking account.  Since then she received 2 auto CLI's to 3.5k

[Anonymous]

There are quite a few cases of Chase checking/savings customers with very thin files getting a low-limit Freedom.

That anecdotal advantage (if it's an actual Chase consideration) doesn't necessarily apply to rebuilders, though.

[mowglidude]

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@Anonymous wrote:

There are quite a few cases of Chase checking/savings customers with very thin files getting a low-limit Freedom.

That anecdotal advantage (if it's an actual Chase consideration) doesn't necessarily apply to rebuilders, though.

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My EX is 693 today and last week when I app'ed for both Marriott and CSP and income I think is above being in line. So I hope that's good enough..