Approved for my 1st Chase Card

[citymunky]

I just got approved for the Chase Freedom Flex 🙌 with a SL $14,000 (after an initial denial and 3 recons).

Not going to lie, getting in with Chase felt like an battle at times. 

DP that I wasn't tracking for new accounts. Chase's 50% rule applies to new accounts too. Your availability credit can not be more than half your gross annual income. (i.e. If you make $60K a year, and your availability credit being reported on your CR is $30K or higher, than you will be denied).

[coreyb80]

Congrats on the strong approval!

[MySunrise271]

Congratulations on your Chasee FF approval and awesome SL 🎉🎉🎉

[CYBERSAM]

Congrats on your Chase Freedom Flex Approval

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@citymunky wrote:

I just got approved for the Chase Freedom Flex 🙌 with a SL $14,000 (after an initial denial and 3 recons). 

Not going to lie, getting in with Chase felt like an battle at times. 

DP that I wasn't tracking for new accounts. Chase's 50% rule applies to new accounts too. Your availability credit can not be more than half your gross annual income. (i.e. If you make $60K a year, and your availability credit being reported on your CR is $30K or higher, than you will be denied).

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Wait what? I have never heard about this! Wonder how I got approved for Amazon and CSP then?! 🤔

[cashorcharge]

Welcome to Chase

WooHoo!! Congratulations on your Approval!!👏🏼🍾🥂

I think your original message OP about 50% of your TCL cannot be half your Annual Gross income is incorrect.  My TCL is MUCH higher (1%Util) than my Gross Annual and my Chase exposure is aggressively high as well

[Tdatb64]

As I understand it, Chase will not extend a customer more than 50% of their income in credit. This 50% limit has nothing to do with credit from lenders other than Chase. Plenty of people have received first Chase cards when their TCLs exceeded their annual income. Last time I was 4/24 Chase bombarded me with green star offers on multiple cards and my TCL was over 50% of my income while my Chase exposure was roughly 10% of my income.

[citymunky]

@CYBERSAM @Tdatb64 

I wrote about it in my other thread. My 1st two recons were for denied  "Obligations Too High Relative to Income".  My DTI as it reports on my CR is 17.82%. Stated solo income on app $103K, and my available credit (including AUs) is over $60K. 

On the third recon, the CSR added my wife's income to the app, and I was approved less that 24 hours later.

[CorpCrMgr1]

Congratulations on your approval!

[Traveler101]

Your persistence paid off..congratulations 

[FlaDude]

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@citymunky wrote:

Chase's 50% rule applies to new accounts too. Your availability credit can not be more than half your gross annual income. (i.e. If you make $60K a year, and your availability credit being reported on your CR is $30K or higher, than you will be denied).

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Congrats on the card. I've had a mixed bag with Chase. Denied for United Explorer card with an 820 score and 3 existing chase cards (way under 5/24). Reversed on recon but with no new CL, had to take some from an existing card. Going by your logic might answer this because my total CL across all lenders is about my annual income. OTOH since they've added the CLI button to their web page, they've been generous with increases and certainly not limiting to 50% of income.