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Clarification on Chase Profile "Bucket"

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Valued Member

Clarification on Chase Profile "Bucket"

I want to get clarification on how the Chase profile bucket works and is it better to apply for a new card after a rebuild or to attempt to CLI on cards opened prior to a score collapse?

 

I have Chase FU and Slate -- both CLs of $500 -- I've had them for 3 years and 3.3  years, respectively. I haven't requested a CLI since I opened the accounts as I went through a tough spell where my score tanked. I anticipate my scores going above 680 after December's reporting.

 

The Slate card offers nothing, so I want to combine the CL with the FU or PC to something else (once I have scores over 700). However, once I'm over 700 I'll have a high score than I had when I originally was approved, so is it going to be tricky to a PC or do I apply for a new card and cancel the Slate?

 

 

Starting Score: 447 - 5/2019, FICO 9 by Wells Fargo
Current Score: 729 - 10/2020, FICO 9 by Wells Fargo
Goal Score:780


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9/2020
7 REPLIES 7
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Valued Contributor

Re: Clarification on Chase Profile "Bucket"

Chase has nice subs and your cl is only $500. Based on that, I would apply for a new card. I'm not so certain I would close your Slate however. If you read the forum regarding closing cards, the subject has been discussed quite a bit. 

Message 2 of 8
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Super Contributor

Re: Clarification on Chase Profile "Bucket"

CSP and CSR have nice bonuses, but I'd keep the Slate in case you end up being able to convert it to a 5x Freedom.

 

Chase is (for the time being, at least) pretty flexible about CL reallocations, so if you get some giant SL in the future on a new account you can always move some over.

 

And (if your signature is up-to-date) with a 621 EX you'll want all the good history (with Chase, and in general) you can get.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 3 of 8
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Valued Member

Re: Clarification on Chase Profile "Bucket"

Are you familiar with which report Chase pulls from? Also I’d be interested in what you decided to do and how it turned out because we are at similar decisions right now.

Message 4 of 8
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Community Leader
Super Contributor

Re: Clarification on Chase Profile "Bucket"

Might be best to apply for a new card as they *may* (emphasis on MAY) give a more generous SL than if you were to try for a CLI. Sometimes it's easier to just do that than to try to get a CLI on an existing card, especially if said card started low to begin with. Either way you're gonna take a HP, the only difference is if you open a new account, you'll lower your AAoA and AoYA.

Last App: 8/24/2020
NFCU Secured Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 5 of 8
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Valued Contributor

Re: Clarification on Chase Profile "Bucket"

I have seen more DPs of high credit lines with new accounts than CLI for Chase. I have seen $500-$1000 approvals for new cards as well however. 

Perhaps because it's a hard pull, people rather apply for a card. That and they have a good amount of good cards. 

Message 6 of 8
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Moderator

Re: Clarification on Chase Profile "Bucket"

There is no profile bucket. Your approval reflects the state your credit was in at the time of your approval.
That's easily remediated by asking for CLI (HP, results can go either way), or new application.
While it's true that better results are seen with new Chase apps, your results will depend on the state your CR is in now
There is no guarantee you'd do better just because it's a new account.
The only way to find out is to apply.
You might be sleep deprived if you try opening car door with Samsung Pay
Message 7 of 8
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Super Contributor

Re: Clarification on Chase Profile "Bucket"


@vision_20 wrote:
Are you familiar with which report Chase pulls from? Also I’d be interested in what you decided to do and how it turned out because we are at similar decisions right now.

Experian seems the most common. Sometimes a second report is pulled. Practices may potentially vary by state, credit risk, Chase's familiarity with the customer, etc.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 8 of 8
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