Question re: Chase and Freezing Accounts

[Anonymous]

So I've learned that Chase will shut you down if they find out you've applied for new credit too soon after getting one of their cards. I'm assuming they can find that out during their infamous "financial review" by doing a soft pull. However, let's say I apply for and get a CSP, then get another card a few days later, and then freeze all of my reports... will Chase still be able to pull my credit and see what I've been up to if my reports are all frozen?

[AverageJoesCredit]

Yes

[Anonymous]

I figured. I was like "I can't be the first person who has thought of something like this, so it must not work." LOL

[FinStar]

OP, keep in mind that these maneuvers or "tactics" to circumvent any secondary review process rarely works. Besides having access to the major CRAs, they also have access to other internal data and/or various reporting sources.

[the_jan_b]

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@Anonymous wrote:

So I've learned that Chase will shut you down if they find out you've applied for new credit too soon after getting one of their cards. I'm assuming they can find that out during their infamous "financial review" by doing a soft pull. However, let's say I apply for and get a CSP, then get another card a few days later, and then freeze all of my reports... will Chase still be able to pull my credit and see what I've been up to if my reports are all frozen?

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To my understanding, yes they would; since you have an account with them, they can access your report even if it is frozen.

[coreysw12]

I thought about doing this, too, then decided not to try. In addition to this trick probably not working, I wonder if it looks "suspicious" that all your credit files have a freeze on them when they go to check a few weeks after they gave you a card. It might spook them into thinking there's a fraud issue going on, maybe?

[gdale6]

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@coreysw12 wrote:

I thought about doing this, too, then decided not to try. In addition to this trick probably not working, I wonder if it looks "suspicious" that all your credit files have a freeze on them when they go to check a few weeks after they gave you a card. It might spook them into thinking there's a fraud issue going on, maybe?

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The creditor would not know there is any freeze as they have access as long as there is a legitimate business need and having a card with them qualified for such. 

[SBR249]

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@coreysw12 wrote:

I thought about doing this, too, then decided not to try. In addition to this trick probably not working, I wonder if it looks "suspicious" that all your credit files have a freeze on them when they go to check a few weeks after they gave you a card. It might spook them into thinking there's a fraud issue going on, maybe?

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It's actually not very unusual to have one's CRs semi-permanently frozen and only unlocked for a brief period of time when one needs to app for a loan or a credit product.

In this case, Chase SPs applicants usually in the month or two after a successful app, to check that their CRs do not dramatically change in the time since their application was approved. According to FCRA and general conventional practice, an authorized company with whom you already have a pre-existing business relationship may SP your CR any time for purposes of offering you products/services or to monitor your creditworthiness and this can be done without explicitly asking you for permission every time. This can be done even if your CR is frozen. One thing to note is that the list of companies that SP your report will not be visible to anyone but you. 

Companies may not HP you, however, unless you initiated a transaction and gives them permission to pull your CR (like requesting a CLI or apping for a new card). If your CR is frozen, then a HP is not possible and they would need you to unfreeze the report to proceed. Sinec HPs are tied to specific requests for credit, a list of HPs are visible to those who pull your CR. 

[coreysw12]

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@gdale6 wrote:

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@coreysw12 wrote:

I thought about doing this, too, then decided not to try. In addition to this trick probably not working, I wonder if it looks "suspicious" that all your credit files have a freeze on them when they go to check a few weeks after they gave you a card. It might spook them into thinking there's a fraud issue going on, maybe?

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The creditor would not know there is any freeze as they have access as long as there is a legitimate business need and having a card with them qualified for such. 

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Good to know - so while it wouldn't necessarily hurt to freeze your reports, it also wouldn't help.

[Anonymous]

Read the contract you agree to when applying and accepting a credit card i.e. the Cardmember Agreement.  It typically gives the creditor the right to pull your credit information.