Worth it to open Chase checking for CSP odds?

[Anonymous]

I want a CSP and was wondering if opening a Chase checking acct. would drastically improve my odds or not. I currently bank with Charles Schwab and NFCU, and am very satisfied with all three, and dont really want to open another account and have to deal with fees, etc.

I see the deal to open up a Chase checking account for $300, which shouldnt be tough to meet the min. requirementsof $500 direct deposit (or switch to student acct for a year).

I have no pre-qual's in-branch or online, and nothing on Chase Credit Journey (been checking for 2 months now).

I travel a few times a year as a students (flying, hotels, airbnb) and would like to take advantage of 50k bonus, decent everyday rewards, and building a relationship with Chase so I can open up a CSR in a couple years once income and profile is thicker.

Do I have a pretty good chance of straight applying without pre-qual, or checking acct. Or should I get this checking acct, park $500 there and maybe apply in 6 months? I am also open to getting a Freedom first since the underwriting is easier.

Cards:

(06/16) CapOne QS ($1,250)

(09/16) Student Loan ($6,500)

(01/17) Amex BCE ($9,000)

(03/17) Discover It ($1,900)

EX: 731 (2), TU: 742 (3)

Income: $45k

Util: <1%

Oldest Acct: 1 yr 5 mo; AAoA: 1 yr 

[bourgogne]

a bank account does not have anything to do with a card.  if you have a chase bank go in and see if there is an offer for you or do it online. 

[Anonymous]

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@bourgogne wrote:

a bank account does not have anything to do with a card.  if you have a chase bank go in and see if there is an offer for you or do it online. 

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Pretty much all of the credit blogs/sites agree that having an account can be a way around the 5/24 rule through the use of the green checkmarked personal offers.

[TimFlorida]

Chase offers free checking to Veterans.

[bourgogne]

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@Anonymous wrote:

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@bourgogne wrote:

a bank account does not have anything to do with a card.  if you have a chase bank go in and see if there is an offer for you or do it online. 

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Pretty much all of the credit blogs/sites agree that having an account can be a way around the 5/24 rule through the use of the green checkmarked personal offers.

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you don't need an banking account of any kind to get a pre-qual at either a bank or online for a chase card and where a pre-qual at a branch used to be nearly 100% of a 5/24 bypass I am living proof this is not true. 

[EAJuggalo]

I got a freedom in Jan of 16 with only a 14 year old Chase auto loan on my credit report.  In 7 months I got a green checkmark for a Freedom Unlimited then in May of this year I got a CSP with the checkmark as well.  If you don't have to have it right now I would go with the Freedom and start looking at the offers page.

[Anonymous]

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@bourgogne wrote:

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@Anonymous wrote:

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@bourgogne wrote:

a bank account does not have anything to do with a card.  if you have a chase bank go in and see if there is an offer for you or do it online. 

---

Pretty much all of the credit blogs/sites agree that having an account can be a way around the 5/24 rule through the use of the green checkmarked personal offers.

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you don't need an banking account of any kind to get a pre-qual at either a bank or online for a chase card and where a pre-qual at a branch used to be nearly 100% of a 5/24 bypass I am living proof this is not true. 

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Nobody said 'need' nor did anyone claim that it was a 100% guarantee of a bypass. Again, there are multiple datapoints that it absolutely can help. 

[mkhan1093]

Having a prior Chase account doesn't increase/decrease your odds for anything, especially if it's a checking account because they haven't extended you a cent of credit. The only thing having a prior account is good for is so that Chase can display prequalified offers straight to your browser. If you go into a Chase branch and say "I'm looking to start a relationship with Chase, and would like a CSP" you won't be any better or worse off

[Anonymous]

While you'll likely hear 50/50 responses on whether or not opening a checking account prior will "help" at all, one thing you won't hear from anyone is that it can hurt in any way.  That being said, if you have the ability to open a checking account first, why not?

I opened a Chase savings/checking account back in Feb knowing that I'd be applying for my first Chase CCs a few months later.  I put about $12k into the checking account and a small amount into their savings account.  In May I applied for 2 Chase CCs about 10 weeks after opening those accounts.  I knew that without opening those accounts that I'd be approved for both cards, but I just wanted to establish some sort of "relationship" first that could possibly result in me getting higher initial limits.  Whether or not it helped, I'll never know, as there's no way to tell or quantify it.  Again though, I can say with 100% conviction that it can't hurt.

[Anonymous]

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@mkhan1093 wrote:

Having a prior Chase account doesn't increase/decrease your odds for anything, especially if it's a checking account because they haven't extended you a cent of credit. The only thing having a prior account is good for is so that Chase can display prequalified offers straight to your browser. If you go into a Chase branch and say "I'm looking to start a relationship with Chase, and would like a CSP" you won't be any better or worse off

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Try walking into get a 5/24 CSP when you're already over 5/24 and maybe you'll understand. Again, there are numerous datapoints across all of the credit-internet supporting how it can help get around that requirement. No, it's absolutely not a guarantee but yes, it absolutely can increase your chances in that situation. It's not about them having extended you credit, it's about having the relationship.