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Getting in with Chase Bank

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Re: Getting in with Chase Bank

The US bank + when I first received with the recommendation I got from the forums I did just that. I called for a SL recon and I was denied. About 3 months ago I called again to talk to a underwriter about my limit still says no. She said she can look further but that would require a HP. I said go for it as I only had 2 HPs at the time. Came back denied again. So this card is in the SD I only have $20.00 of monthly services fees coming out of it. Discover has been very nice to be started at only $300.00 in July 2017 and they're giving me roughly $3-400 CLI every 3 months. 

 

I do have my 181 day 3x CLI with my amex coming on August 18th. Would that help? I'll probably start at $35,000 and go down avoiding a FR. 

FICO 8 SCORE 8/2015
FICO 8 SCORE 1/2019
GOAL FICO SCORE
INQUIRIES AS OF 1/2019

Message 11 of 20
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Moderator

Re: Getting in with Chase Bank

Income Verification is very different from a Financial Review.  The former is optional in these cases, the latter is not optional unless you just want to immediately close any and all Amex accounts.  I have never heard of anyone undergoing a financial review for simply asking for a credit line increase.  Getting a CLI from Amex certainly couldn't hurt, and I'm sorry to hear about your difficulties in getting a CLI from US Bank.

Message 12 of 20
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Re: Getting in with Chase Bank


@K-in-Boston wrote:

Income Verification is very different from a Financial Review.  The former is optional in these cases, the latter is not optional unless you just want to immediately close any and all Amex accounts.  I have never heard of anyone undergoing a financial review for simply asking for a credit line increase.  Getting a CLI from Amex certainly couldn't hurt, and I'm sorry to hear about your difficulties in getting a CLI from US Bank.


Income Verification is what  I meant. 

 

As for US Bank, Thanks. No big deal though theyre loss IMO!!

FICO 8 SCORE 8/2015
FICO 8 SCORE 1/2019
GOAL FICO SCORE
INQUIRIES AS OF 1/2019

Message 13 of 20
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Mega Contributor

Re: Getting in with Chase Bank


@clark_d_shark wrote:

If starting a relationship with Chase bank is your goal while you wait to fall under 5/24. You can open a Finn Checking and Savings account with Chase. It is a virtual mobile bank, so you really don't need to physically go to the location to make any deposits or withdrawals. They also have a $100 welcome bonus, if you complete 10 qualifying transactions within 60 days. I recently had just opened one myself to build some banking history with them. So down the road, If I do decide to apply for one of their cards, at least I already have some history. 

 

https://www.chase.com/personal/finnbank?jp_cmp=rb/Finn_Brand-Finn_Exact_Finn_SEM_US_No+xLOB_Standard...


For an online bank, this is horrible!   Very low rate of interest on savings: 0.04% on balances over $25K whereas many online banks are offering 1.5-2+% on anything above 0, 0 interest on checking, charges for using non-partner ATMs.  This is in addition to whatever the ATM operator charges, whereas many online banks don't charge a fee and will rebate (sometimes up to a limit) charges from the ATM operator.

 

And no guarantee that the "relationship" from this will mean anything as far as credit card applications are concerned.

Message 14 of 20
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New Contributor

Re: Getting in with Chase Bank

you can apply for the Starbucks Visa, it's issued by Chase and the 5/24 rule doesn't apply to it


Uber Visa $11k | PNC Cash Rewards $15k | Amazon Prime Visa $4.5k | Chase FU $7.5k | Discover it $15.7k | Discover Miles $15.7k

TU 792 as of 3/01/2019
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Established Contributor

Re: Getting in with Chase Bank


@longtimelurker wrote:

@clark_d_shark wrote:

If starting a relationship with Chase bank is your goal while you wait to fall under 5/24. You can open a Finn Checking and Savings account with Chase. It is a virtual mobile bank, so you really don't need to physically go to the location to make any deposits or withdrawals. They also have a $100 welcome bonus, if you complete 10 qualifying transactions within 60 days. I recently had just opened one myself to build some banking history with them. So down the road, If I do decide to apply for one of their cards, at least I already have some history. 

 

https://www.chase.com/personal/finnbank?jp_cmp=rb/Finn_Brand-Finn_Exact_Finn_SEM_US_No+xLOB_Standard...


For an online bank, this is horrible!   Very low rate of interest on savings: 0.04% on balances over $25K whereas many online banks are offering 1.5-2+% on anything above 0, 0 interest on checking, charges for using non-partner ATMs.  This is in addition to whatever the ATM operator charges, whereas many online banks don't charge a fee and will rebate (sometimes up to a limit) charges from the ATM operator.

 

And no guarantee that the "relationship" from this will mean anything as far as credit card applications are concerned.


I assume you haven't read the OP's thread entirely. She lives in a location that doesn't have any Chase locations accessible to her within 200 miles. But she was looking for ways to build some relationship. The response was simply to inform the OP that it's an option, if she's unable to go to the bank because of location. And how she can kick start a relationship with Chase. Nothing in life and in the world of credit is guaranteed.

Fico Scores as of March 2019: TU:765 EQ: 775 EX: 755 Fico Goals: TU: 770+ by 12-2019 EQ: 770+ by 12-2019 (achieved) EX: 780+ by 12-2019
Message 16 of 20
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Valued Contributor

Re: Getting in with Chase Bank

I never had any relationships with Chase before getting 2 Freedoms and an Ink Cash, all cold apped within 1.5 month time. If your profile supports it, both Kelly and Clark seems like qualifiers, Chase will approve you.

 

$100 Finn SUB is good and their regular checking/savings $500 SUB (you can also open online) is one of the best in the market but that's all Chase deposit accounts are good for, I would never leave more money than what is required for the SUBs in the accounts. Furthermore, the $500 SUB is churn-able, leaving the accounts open with substantial amount of deposit not only means you're sacrificing interest earnings, you're also forgoing $500 every year in SUB all for something that "might" but more likely will not help you in the end if your profile does not support an approval.

Message 17 of 20
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Valued Member

Re: Getting in with Chase Bank

Having a relationship with them has virtually no bearing on credit card approvals. It would if you were trying to get certain fees waived, for example overdrafts. As long as your balances are low, profile is clean and you're under 5/24, you'll be eligible for any of their cards
AMEX PRG- NPSL, AMEX ED- $2.7K, AMEX Delta Gold- $1K, AMEX BCE- $1K, Discover it Students- $2.6K, Barclays Uber- $1K, Chase FU- $500, Capital One QS- $500
Message 18 of 20
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Re: Getting in with Chase Bank


@ragkapur99 wrote:
Having a relationship with them has virtually no bearing on credit card approvals. It would if you were trying to get certain fees waived, for example overdrafts. As long as your balances are low, profile is clean and you're under 5/24, you'll be eligible for any of their cards

At one time having a 'relationship' actually could help; if you had $10k (or more) on deposit a branch manager could fax over a form or make a phone call on your behalf to 'push' through a credit card app that was on-the-fence, but that's said to no longer be the case.

 

I will add that there have been reports of a relationship having a negative impact on credit card applications; a couple of times I've read where someone would do a recon call and the analyst would reference overdrafts on their Chase checking account as a reason for not being able to approve a new card.  As with many things credit, YMMV.

Message 19 of 20
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Re: Getting in with Chase Bank


@KellyM273 wrote:

Hi Folks, 

 

I am still in the garden but I am interested in starting a relationship with chase. In the near future i would like to apply for the FU and CSR but would like to build some sort of relation with them before then. I am currently over the 5/24 rule until December of 2019. What would y'all recommend that I apply for and have decent chances of approval? I have not shopped amazon that often in the past, but I have been recently. 

Notes* Reside in Minnesota, no branch within 200 miles. Scores in my signature. 

 

Thanks in advance, 

 

Mike


If you're interested in starting a relationship with Chase, and want to have the FU and CSR, the answer is you shouldn't be applying for anything anywhere.

 

 


Total revolving limits 639500 (558000 reporting)
FICO 8's EQ 710 TU 733 EX 717

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