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Getting into Chase

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Established Contributor

Getting into Chase

I've been thinking I want a Chase card to round out my cards. Not sure exactly which one yet, but thought I would ask some questions first.

 

Bk 13 in May 2012 and discharged May 2017. Current scores are in my signature. Right now I have 3 cards in my name and I'm an AU on another one. BK had an EE from TU a while back and have in a request to get it removed from EX right now. I think they have already removed it as it's not showing on my wife's reports and longer and I did get a nice little 32 point boost on EX last Friday. i cna't verify this yet without purchasing another report so I'm going to just wait to verify.

Oldest account 13 years.

Average 7-8 years

Youngest 5 months

 

My cards are:

Discover IT 18000/4600

Amex Magnet 4000/0

CapOne Secured 700/0

 

All these cards were opened in the past year and I also got a mortgage last year. Inquires are 7-8 in past year depending on when CRA you look at.  

 

I've heard varying stories about whether the CapOne will unsecure or not. At this point, I'm not planning on it and I highly doubt I will be able to build it up to any decent limits if they do send me back my deposit. So I have been considering closing it and moving on.

 

I had applied to Chase last Fall and got an immediate denial. The recent stated was my BK. They pulled both EQ and EX with the HP's. Now that all my scores are over 700, I figured maybe I should try again, but I want to make sure I set my profile up for the best chances at approval this time. 

 

I know I should definitely wait until my BK falls off the other two reports, but should I give it any extra time for any type of internal scores to catch up? I tried the prequal site and got we have no offers for you at this time or you need to optin. I'm not opted out of anything so not sure if this is their site or some list I'm on.

 

Should I wait until some of these inquiries fall? I will be down to 3-4 by May and by then all my reports will be clean except for a small medical collection on EQ

 

One other thing I'm concerned with. I had applied for the 3xCLI on my Amex in December and was denied based on my BK on my report. My 90 days comes up with it on March 3rd so as long as my BK is off EX by then I will be making another try. Will this make any difference for Chase. 

 

I'm carrying a balance on Discover right now as its in the 0% time frame. Should I bring that down before trying to get a chase card or will it matter. 

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 04/18/19:


Goal Score: 750+
Message 1 of 11
10 REPLIES 10
Valued Contributor

Re: Getting into Chase


@dynamicvb wrote:

I've been thinking I want a Chase card to round out my cards. Not sure exactly which one yet, but thought I would ask some questions first.

 

Bk 13 in May 2012 and discharged May 2017. Current scores are in my signature. Right now I have 3 cards in my name and I'm an AU on another one. BK had an EE from TU a while back and have in a request to get it removed from EX right now. I think they have already removed it as it's not showing on my wife's reports and longer and I did get a nice little 32 point boost on EX last Friday. i cna't verify this yet without purchasing another report so I'm going to just wait to verify.

Oldest account 13 years.

Average 7-8 years

Youngest 5 months

 

My cards are:

Discover IT 18000/4600

Amex Magnet 4000/0

CapOne Secured 700/0

 

All these cards were opened in the past year and I also got a mortgage last year. Inquires are 7-8 in past year depending on when CRA you look at.  

 

I've heard varying stories about whether the CapOne will unsecure or not. At this point, I'm not planning on it and I highly doubt I will be able to build it up to any decent limits if they do send me back my deposit. So I have been considering closing it and moving on.

 

I had applied to Chase last Fall and got an immediate denial. The recent stated was my BK. They pulled both EQ and EX with the HP's. Now that all my scores are over 700, I figured maybe I should try again, but I want to make sure I set my profile up for the best chances at approval this time. 

 

I know I should definitely wait until my BK falls off the other two reports, but should I give it any extra time for any type of internal scores to catch up? I tried the prequal site and got we have no offers for you at this time or you need to optin. I'm not opted out of anything so not sure if this is their site or some list I'm on.

Check this link - 

https://www.optoutprescreen.com/

You should be able to opt-in then. Also, I would wait until the BK is fully off your reports prior to apping for anything else. 

 

Should I wait until some of these inquiries fall? I will be down to 3-4 by May and by then all my reports will be clean except for a small medical collection on EQ - Try to get this medical collection off as well, inq's aren't an issue as long as you are under 5/24. 

 

One other thing I'm concerned with. I had applied for the 3xCLI on my Amex in December and was denied based on my BK on my report. My 90 days comes up with it on March 3rd so as long as my BK is off EX by then I will be making another try. Will this make any difference for Chase. I would go for the CLI first before going for Chase. This way, your BK will be off your record and you can see it's impact when requesting a CLI. 

 

I'm carrying a balance on Discover right now as its in the 0% time frame. Should I bring that down before trying to get a chase card or will it matter. Depending on the amount, as long as your UTI is under 8% and any single card is under 8%, you'll have the best chance possible. 


 



Scores - All bureaus 750 +/-
TCL - Est. $250K
Message 2 of 11
Established Contributor

Re: Getting into Chase

Thanks, there is not a lot I can do about the collection. I've tried to get them to delete it but they won't. Its only 45 dollars and has been paid a little over a year. It only shows on EQ.

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 04/18/19:


Goal Score: 750+
Message 3 of 11
Community Leader
Senior Contributor

Re: Getting into Chase

Your Discover balance is fine for credit card applications. Don't let it get any higher, though.

 

With AMEX, make sure their score catches up once your BK falls off. They seem to lag by a few weeks, including lagging behind the score that appears in your account. Someone in the 3X CLI thread can probably advise you more precisely about timing.

 

To apply for Chase, your oldest card should be at least a year old. (You mention oldest account but not oldest card.) The age of your youngest card is fine. And of course, wait for the BK to fall off of all three reports.

 

Message 4 of 11
Established Contributor

Re: Getting into Chase

Was Chase part of your bankruptcy? Chase has a long memory. A very long memory.


Message 5 of 11
New Contributor

Re: Getting into Chase

Chase is a hard bank to get into. They like golden credit, and they have cards that prove that as well. JP MORGAN, and Chase are the same company. I would avoid them until you get into the 700 ranges on the FICO Score 8.

Message 6 of 11
Senior Contributor

Re: Getting into Chase

I think with the BK, you will be denied by Chase. And if it was IIB, no deal.
GOALS: Garden til DEC 2020 and 800 Club

Scores
APR 2019: EX 787, TU 789, EQ 781
JAN 2019: EX 794, TU 783, EQ 801
DEC 2018: EX 777, TU 783, EQ 799

|| AmX ED $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $15.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX Magnate $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 7 of 11
Established Contributor

Re: Getting into Chase

Yes I learned that a bk on the record is a deal breaker. I’ve read threads that you can recon it, but when I was denied I did not try that. I’ve never had any history with Chase so should not be on any of their bad lists.

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 04/18/19:


Goal Score: 750+
Message 8 of 11
Frequent Contributor

Re: Getting into Chase

My middle score was a 755 when I applied with Chase with no history with them just be mindful and if they say the BK will hurt you wait until it's off no need for HP's if it won't assist you at this time Smiley Happy

Starting Score: 537
Current Score: 725
Goal Score: 775


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Message 9 of 11
Established Contributor

Re: Getting into Chase


@HeavenOhio wrote:

Your Discover balance is fine for credit card applications. Don't let it get any higher, though.

 

With AMEX, make sure their score catches up once your BK falls off. They seem to lag by a few weeks, including lagging behind the score that appears in your account. Someone in the 3X CLI thread can probably advise you more precisely about timing.

 

To apply for Chase, your oldest card should be at least a year old. (You mention oldest account but not oldest card.) The age of your youngest card is fine. And of course, wait for the BK to fall off of all three reports.

 


Thanks, did not know that about Amex, I should probably wait another month on it to be safe. The CapOne is my oldest card at 10 months, so perhaps I should keep it open a while longer and let the age get over a year. with this info, perhaps I should wait until the fall to shoot for a chase card. By then the Discover balance will be gone and the majority of my inquiries will have passed the year mark.

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 04/18/19:


Goal Score: 750+
Message 10 of 11