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Chase/Checking Account/ Credit cards

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AyaMai
Frequent Contributor

Chase/Checking Account/ Credit cards

I wanted to start a bank relationship with Chase for future "24 months" to apply for their credit cards by opening a checking account with SUB using direct deposits but unfortuantely I was declined, do not why. Disclaimer, I have opened checking accounts with different banks for SUB & for different reasons in the last 8 months. Years back applied for Chase Amazon Credit Card, had an issue with them regarding verification my previous address during a phone call as I did not remember it when the question was asked. I am an authorized user on DW 3 Chase credit cards. Appreciate your comments.

Message 1 of 12
11 REPLIES 11
GZG
Valued Contributor

Re: Chase/Checking Account/ Credit cards


@AyaMai wrote:

I wanted to start a bank relationship with Chase for future "24 months" to apply for their credit cards by opening a checking account with SUB using direct deposits but unfortuantely I was declined, do not why. Disclaimer, I have opened checking accounts with different banks for SUB & for different reasons in the last 8 months. Years back applied for Chase Amazon Credit Card, had an issue with them regarding verification my previous address during a phone call as I did not remember it when the question was asked. I am an authorized user on DW 3 Chase credit cards. Appreciate your comments.


just go in branch and apply with cc/id/ssn card (just to be safe) and that should be more than enough

 

unless you have been burning banks with NSF fees or fraud or something sketchy, it's just an identity thing that can be solved by signing up in branch, also unfreeze your credit a soft pull for identity verification is done

Starting FICO 8:

Current FICO 8:

3/6, 5/12, 14/24

Message 2 of 12
FireMedic1
Community Leader
Mega Contributor

Re: Chase/Checking Account/ Credit cards

How many accounts in 8 months? " I have opened checking accounts with different banks for SUB & for different reasons in the last 8 months"

They may have seen this on ChexSystem. Opening too many can raise risk. And churning.


Message 3 of 12
AyaMai
Frequent Contributor

Re: Chase/Checking Account/ Credit cards


@GZG wrote:

@AyaMai wrote:

I wanted to start a bank relationship with Chase for future "24 months" to apply for their credit cards by opening a checking account with SUB using direct deposits but unfortuantely I was declined, do not why. Disclaimer, I have opened checking accounts with different banks for SUB & for different reasons in the last 8 months. Years back applied for Chase Amazon Credit Card, had an issue with them regarding verification my previous address during a phone call as I did not remember it when the question was asked. I am an authorized user on DW 3 Chase credit cards. Appreciate your comments.


just go in branch and apply with cc/id/ssn card (just to be safe) and that should be more than enough

 

unless you have been burning banks with NSF fees or fraud or something sketchy, it's just an identity thing that can be solved by signing up in branch, also unfreeze your credit a soft pull for identity verification is done


I do not have any issues with any bank. 

Message 4 of 12
AyaMai
Frequent Contributor

Re: Chase/Checking Account/ Credit cards


@FireMedic1 wrote:

How many accounts in 8 months? " I have opened checking accounts with different banks for SUB & for different reasons in the last 8 months"

They may have seen this on ChexSystem. Opening too many can raise risk. And churning.


I have opened checking accounts with Key Bank, US Bank , Wells Fargo, BMO and CapitalOne in the last 8 months. CapitalOne I have cards with them, got my SUB, US Bank no SUB got my deposit back for seured Cash+ credit card, Wells Fargo got SUB and 2 credit cards after opening checking account, Key Bank got my SUB and BMO working on it. Found out that I get my direct deposit on Wednesday instead of Friday with Wells Fargo and Capital One not with Bank of America which is my main bank. I do have account with Chase Credit Journey with email alert notifications which I used my user and password to open an account with Chase.

Message 5 of 12
Brian_Earl_Spilner
Credit Mentor

Re: Chase/Checking Account/ Credit cards


@FireMedic1 wrote:

How many accounts in 8 months? " I have opened checking accounts with different banks for SUB & for different reasons in the last 8 months"

They may have seen this on ChexSystem. Opening too many can raise risk. And churning.


Chase uses EWS. 

    
Message 6 of 12
FireMedic1
Community Leader
Mega Contributor

Re: Chase/Checking Account/ Credit cards


@Brian_Earl_Spilner wrote:

@FireMedic1 wrote:

How many accounts in 8 months? " I have opened checking accounts with different banks for SUB & for different reasons in the last 8 months"

They may have seen this on ChexSystem. Opening too many can raise risk. And churning.


Chase uses EWS. 


Thanks. I was going by # of accounts in 8 months.


Message 7 of 12
Aim_High
Super Contributor

Re: Chase/Checking Account/ Credit cards


@AyaMai wrote:

@FireMedic1 wrote:

How many accounts in 8 months? " I have opened checking accounts with different banks for SUB & for different reasons in the last 8 months"   They may have seen this on ChexSystem. Opening too many can raise risk. And churning.


I have opened checking accounts with Key Bank, US Bank , Wells Fargo, BMO and CapitalOne in the last 8 months.


That's a pretty high velocity for new banking accounts, @AyaMai.  Five in eight months is a lot and not typical consumer behavior.  Many of us use some banking SUBs and I've opened many accounts over the past few years.  However, spacing them out is important.  

 

Yes, it possible the identify verification is the cause but I'd be more likely to suspect the new account velocity is the issue.


Business Cards


Length of Credit > 40 years; Total Credit Limits >$898K
Top Lender TCL - Chase 156.4 - BofA 99.7 - AMEX 95.0 - CITI 94.5 - NFCU 80.0
AoOA > 30 years (Jun 1993); AoYA (Feb 2024)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 8 of 12
GZG
Valued Contributor

Re: Chase/Checking Account/ Credit cards

I've read about velocity denials w/BoA, but not with Chase 

 

5 in 8 months isn't even that many relative to the /r/churning world, anyway

 

when you get the denial AA letter, let us know the reason, I got $20 on identity as opposed to EWS score or any other reason @AyaMai 

Starting FICO 8:

Current FICO 8:

3/6, 5/12, 14/24

Message 9 of 12
citymunky
Established Contributor

Re: Chase/Checking Account/ Credit cards


@AyaMai wrote:

I wanted to start a bank relationship with Chase for future "24 months" to apply for their credit cards by opening a checking account with SUB using direct deposits but unfortuantely I was declined, do not why. 


I was declined as well. I was trying to get their Checking/Saving account bonus.  I will have to go in branch to apply on of these days as @GZG suggested. I'm also going to have to check my EWS before hand, since I don't have any issues with bank accounts. 

Rebuilding since 2021


Closed CCs
USAA (Jul 2019| Settled CO), Jasper $1 CL (Jul21-Jul22), Sable $250CL{Secured} (Jan22-Jun23), CreditOne Platinum $750CL (Jul21-Aug23), Prosper $1.9K CL (Jan22-Apr24)

Starting FICO 8 Scores:
Current FICO 8 Scores:


Message 10 of 12
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