@MikeyMagic wrote:I saw this post on reddit and I thought I'd share it from a Chase credit officer on applying for a Chase credit card:
"As a credit officer for Chase, I can say this with full confidence. All of our credit cards are scored the same This statement is Misleading, bordering on false. While there is the occasional outlier, there are many DPs here, and elsewhere that prove otherwise. For example, a Chase Rise is attainable with much lower scores than whats needed for a Sapphire Reserve. 1) Does your income/revenue(if a business) qualify you for our minimum line? If no, declined. This is misleading in regards to Business cards as they regularly base decisions primarily on personal guarantees (credit rating, personal income etc.) If yes, it’s in a tiered system about how much credit line we can grant. No earth shattering information here as this statement could apply to virtually any lender
2) Do you have any internal Chase charge offs or an excessive amounts of NSF on your deposit accounts ? If yes, decline. Again, this could easily apply to most any lender
3) Credit Profile Review: We care less about your credit score and more about what’s actually reporting on your credit report. These kind of go hand in hand, don't they I’ve seen 800+ credit scores get declined, because they are highly leveraged and have $1MM+ in credit limits It would be common sense to deny anyone who's highly leveraged (and they likely don't have 800+ scores if they're highly leveraged) or have to many recently opened credit accounts. (Yes the 5/24 rule is a thing). Almost anyone who looks into Chase for a credit card knows about their 5/24 rule, it's not exactly a secret. I think We also looks for comparable credit lines. If you have a large limit credit card with our competitors we usually try to match or beat it. Given all the variables of different credit profiles, I'm skeptical of a blanket policy such as this If everything checks out you’ll be approved.
My recommendation, do not apply to chase as your first credit card! Build up your history somewhere else first, then come to us. If you get a decline letter, review the decline reasons. If you can mitigate the top few reasons we can over turn the decline. Example: decline reason: High utilization on other credit lines. Mitigation: Credit Report hasn’t updated recently paid down balances on other credit cards, provide statement of paid down credit cards. This is something that could be reconsidered and approved easily." Almost this entire paragraph is credit building 101, the rest is speculation.
What do you guys think? Pretty helpful?
In summary, could it be something that is helpful? I guess an argument could be made that it could be somewhat helpful to someone that has no knowledge of Chase, and their tendencies.
For me, and this is just my opinion, I think this poster is a fake (hard to believe coming from Reddit (< sarcasm). Someone looking to impress people with their "inside knowledge" when in reality (to me anyway) it seems more like they are combining their knowledge of Chase's tendencies, along with their own speculation, and advice.
My advice, take everything you read on Reddit with a grain of salt, then come here where the likelihood of getting more accurate information is much higher. 
@FlaDude wrote:
@MikeyMagic wrote:If you have a large limit credit card with our competitors we usually try to match or beat it. If everything checks out you’ll be approved.
Interesting post. I'll say that the statement above does not match my experience. I have several Amex issued cards with CLs around $20k. They certainly didn't try to match that on my most recent Chase card, it wasn't even close to the Amex CLs. I will say that since Chase added the CLI button the've been a bit more generous.
Funny thing, it matches my experience almost exactly; when I first applied my largest credit card had a limit of $8,500 (but was about to be auto-CLIed to $11,500 within a few days), and Chase approved me for a CSP with a starting limit of $11,700. Did Chase know about my pending CLI before I did? I suppose it is possible; either way, they either beat, or handily beat, my (then) hightest limit card.
@MikeyMagic wrote:I saw this post on reddit and I thought I'd share it from a Chase credit officer on applying for a Chase credit card:
"As a credit officer for Chase, I can say this with full confidence. All of our credit cards are scored the same. 1) Does your income/revenue(if a business) qualify you for our minimum line? If no, declined. If yes, it’s in a tiered system about how much credit line we can grant.
2) Do you have any internal Chase charge offs or an excessive amounts of NSF on your deposit accounts ? If yes, decline.
3) Credit Profile Review: We care less about your credit score and more about what’s actually reporting on your credit report. I’ve seen 800+ credit scores get declined, because they are highly leveraged and have $1MM+ in credit limits or have to many recently opened credit accounts. (Yes the 5/24 rule is a thing). We also looks for comparable credit lines. If you have a large limit credit card with our competitors we usually try to match or beat it. If everything checks out you’ll be approved.
My recommendation, do not apply to chase as your first credit card! Build up your history somewhere else first, then come to us. If you get a decline letter, review the decline reasons. If you can mitigate the top few reasons we can over turn the decline. Example: decline reason: High utilization on other credit lines. Mitigation: Credit Report hasn’t updated recently paid down balances on other credit cards, provide statement of paid down credit cards. This is something that could be reconsidered and approved easily."
What do you guys think? Pretty helpful?
It certainly makes sense. But who knows if it's genuine? And isn't it basically common sense?
@SouthJamaica wrote:
@MikeyMagic wrote:I saw this post on reddit and I thought I'd share it from a Chase credit officer on applying for a Chase credit card:
"As a credit officer for Chase, I can say this with full confidence. All of our credit cards are scored the same. 1) Does your income/revenue(if a business) qualify you for our minimum line? If no, declined. If yes, it’s in a tiered system about how much credit line we can grant.
2) Do you have any internal Chase charge offs or an excessive amounts of NSF on your deposit accounts ? If yes, decline.
3) Credit Profile Review: We care less about your credit score and more about what’s actually reporting on your credit report. I’ve seen 800+ credit scores get declined, because they are highly leveraged and have $1MM+ in credit limits or have to many recently opened credit accounts. (Yes the 5/24 rule is a thing). We also looks for comparable credit lines. If you have a large limit credit card with our competitors we usually try to match or beat it. If everything checks out you’ll be approved.
My recommendation, do not apply to chase as your first credit card! Build up your history somewhere else first, then come to us. If you get a decline letter, review the decline reasons. If you can mitigate the top few reasons we can over turn the decline. Example: decline reason: High utilization on other credit lines. Mitigation: Credit Report hasn’t updated recently paid down balances on other credit cards, provide statement of paid down credit cards. This is something that could be reconsidered and approved easily."
What do you guys think? Pretty helpful?
It certainly makes sense. But who knows if it's genuine? And isn't it basically common sense?
+1
Have an insight of how the tiered system is structured would be intersting to know. other than that I don't see anything that was not commanly known, at least around here!
@Horseshoez wrote:
@FlaDude wrote:
@MikeyMagic wrote:If you have a large limit credit card with our competitors we usually try to match or beat it. If everything checks out you’ll be approved.
Interesting post. I'll say that the statement above does not match my experience. I have several Amex issued cards with CLs around $20k. They certainly didn't try to match that on my most recent Chase card, it wasn't even close to the Amex CLs. I will say that since Chase added the CLI button the've been a bit more generous.
Funny thing, it matches my experience almost exactly; when I first applied my largest credit card had a limit of $8,500 (but was about to be auto-CLIed to $11,500 within a few days), and Chase approved me for a CSP with a starting limit of $11,700. Did Chase know about my pending CLI before I did? I suppose it is possible; either way, they either beat, or handily beat, my (then) hightest limit card.
It's been hit and miss with me on matching limits.
My first Chase card was the Freedom Flex. The $9,100 SL was my highest limit.
The CSP at $10,600 SL was nice, but based on my other limits at the time, I was predicting $17-18k . . . hoping for $22-23k.
Just a few months later, they shocked me with $21,300 SL on the Amazon card. THAT was what I had been wanting when I got the CSP. Interestingly, my highest reporting limit at the time was $21,300 on my FNBO Evergreen. Too odd of a number for two lenders to come up with the same figure. Chase had to be matching my highest card limit on that one. The Evergreen had already gotten a CLI to $25k, but the new limit hadn't reported yet.
Fortunately it's really easy to move limits around between cards at Chase. Take the CLI wherever you can get it and then move it to whichever card you like.
@CYBERSAM wrote:. . . other than that I don't see anything that was not commanly known, at least around here!
Agreed. I think it's good information put together in one place that could be helpful to people new to the game. But nothing really ground-breaking to anyone who's been around for a while.
EQ8 809, TU8 790, EX8 797 as of May 11