Does Chase factor in assets from a Chase checking account for credit approvals?

[Jungook]

Does anyone know if Chase looks into the amount of money you have in their checking accounts when they approve you for, let's say a Chase Freedom?

[gdale6]

Bank account balances usually do not enter into the decision for credit with online, mailed or phone apps. It may be considered if you are sitting in front of your financial adviser applying at a Chase branch.

[Anonymous]

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@gdale6 wrote:

Bank account balances usually do not enter into the decision for credit with online, mailed or phone apps. It may be considered if you are sitting in front of your financial adviser applying at a Chase branch.

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I was able to get a Freedom as my first card with a 2.1k starting limit, and I believe my 5+ relationship with Chase played a factor in it. I had applied for the card online knowing I would be denied. Waited for the denial letter to come in and went to my branch and had it recon'd there. After answering a few quesitons they gave me a Freedom and a couple months later I was instantly approved for a Slate with a 2k limiti. 

[eagle2013]

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@Jungook wrote:

Does anyone know if Chase looks into the amount of money you have in their checking accounts when they approve you for, let's say a Chase Freedom?

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There are clear Chase relationship tiers (e.g., Private banking customers) but generally, $10K in savings is a pretty good benchmark. At least, it is enough for a banker to make a direct phone call to the underwriters for manual reconsideration of credit on your behalf. There is another thread about a freedom CLI denial from an 18 year old with $20K on deposits with Chase. It is very clear in that the $20K in deposits was the deciding factor, as it would be virtually impossible for Chase to extend credit of any kind to an 18 year old with no prior credit history.

[DigitalArk]

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@gdale6 wrote:

Bank account balances usually do not enter into the decision for credit with online, mailed or phone apps. It may be considered if you are sitting in front of your financial adviser applying at a Chase branch.

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When I applied for Amex BCE, the rep asked me about my depository accounts balances.  I was not used to it.

Did it happen to anyone besides me?

[eagle2013]

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@DigitalArk wrote:

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@gdale6 wrote:

Bank account balances usually do not enter into the decision for credit with online, mailed or phone apps. It may be considered if you are sitting in front of your financial adviser applying at a Chase branch.

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When I applied for Amex BCE, the rep asked me about my depository accounts balances.  I was not used to it.

Did it happen to anyone besides me?

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Yes, when you apply they ask for the total value of all your checking, retirement, investments and other savings accounts. This, in part, determines your ability to pay. The OP wanted to know if a prior relationship (chase bank account) will be taken into consideration in credit decisions with Chase.

[enharu]

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@Jungook wrote:

Does anyone know if Chase looks into the amount of money you have in their checking accounts when they approve you for, let's say a Chase Freedom?

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Yes. 

If you can maintain a >10k average daily balance in your chase checking account, your chances of getting approved for a Freedom is very high, as long as you don't have any recent or major derogs on file.

[chrisre]

My daily average balance in my savings and checking account is 8-10k. I believe that was a factor when I was instantly approved considering my measly score of 600 when I applied for the United Explorer card.

[youngandcreditwrthy]

I def'ly think they consider the overall banking relationship.
My avg balance is prob 3-4k, but all of my income passes thru my Chase checking. Back in 2012 when I had about a 640 FICO due to fraud collection accts, Chase initially denied my Freedom app.

I reconned three times and got a $5k cl. I suspect my nearly 5 year banking relationship helped me get approved.

The credit analysts can see your other Chase accounts for sure, and they'll tell you that too!

Good luck op!

[Anonymous]

If you have $10k+ on deposit you can apply in branch through a banker and have them fill out an extra form that improves your odds. It also helps to mention on recon.