DH has a pretty good TU report. He got a Chase biz card, but now he has 4 inqs (thanks mbna!) We were wondering how sticky they are about inqs if he applied for a personal chase card? We'd like a rewards card. No sheep, I am not applying for anything!
If denial is for INQUIRES...they SHOULD over-ride when you tell them ALL 4 ARE THE SAME COMPANY...IN THE SAME MONTH (OR WEEK OR DAY OR WHAT-EVER)... THEY JUST DENY...THEN SEND A LETTER...THEY DON'T ASK ANY QUESTIONS...AND THEY DON'T LOOK TO SEE FOR THEMSELVES (USUALLY)...
IMHO, the worst thing any applicant can do is to apply for a needed card then let the computers and/or a faceless analyst determine the outcome. I'm very big on making sure that you also speak with a credit manager (who has a direct line to the analyst). This human touch is very important and can cure many ills (such as what would have been unexplained inquiries). BTW, I always wear velvet gloves when I deal with the credit managers. They can be important allies.
Re: Re: Chase and inqs George.....are you saying they don't see which companies they are? Citi is totally ugly about it, I called like 3 reps and they didn't CARE who or what the inqs were....two was too many they said. Can you believe that? They check for dang cell phones and security systems, bank accounts etc. It's ridiculous!
Re: Re: Chase and inqs Velvet gloves, oh my. So sheep, do tell. How do you get yourself positioned with the cm? Before or after your initial app? Give us a scenario. What cards do you have btw?
Re: Re: Re: Chase and inqs It is incredibly (critically) important to establish a relationship with a person that has decision-making ability in a creditor organization BEFORE you apply. Not a CSR, but a credit analyst or credit manager that you can later turn to with meaningful questions / requests. This is the purest form of pre-approval. I cannot overstate this. In fact, after you determine which card you want and *why*, there is no action you can take that is more important. Prerequisite: your reports must be explainable if there are any issues that may come up in conversation (derogs, inquiries, etc.). Separately, I take applying very seriously and will not consider doing so just because a card looks pretty, or because I will receive some pin or trinket, or because it says Day One or Charter Member if I'm approved. BFD. Priorities, anyone? Also, I use cardoffers.com for "official" reviews as well as to see what cardholders have to say (you need to take cardholder comments with a grain of salt because they're skewed with malcontents). I took a bit more time with the response to your question, AB, because I believe so strongly that you must position yourself to control - as much as possible - the application and decisioning processes. It is the wise alternative to placing your fate solely in the hands of a computer or an unknown analyst.
Re: Re: Re: Re: Chase and inqs Thanking you for your time, may I again ask for a specific scenario or are you keeping your secrets? How do you build a relationship with a credit manager once you decide which card you want to apply for?
Re: Re: Re: Re: Chase and inqs Sheep doesn't actually have any credit cards to speak of , but he did stay at a holiday inn express last night WHAT UP SHEEP AND Amy.....b
Re: Re: Re: Re: Re: Chase and inqs 1. You decide, after doing much research, that you want the ABC platinum card. 2. You know intimately what your reports look like and are prepared for questions that may arise. 3. You call abc's telephone number and tell them that you're contemplating applying for their card but you want to discuss your background and motives and also wish to ask questions of a credit manager / analyst first. 4. Here's a potential fork in the road. The CSR may or may not transfer you, offering to discuss the card with you themselves. You humor them by asking fluffy questions and then say you have many more questions...would they transfer you to Credit. 5. If they don't, say thanks and call back. That's right, call back and try again with another CSR. 6. If that, too, doesn't work call R and refer to comments in #3 above. R will either transfer you to the Credit Department or will keep you with them. If you've determined that the person in R is a decision maker and you have chemistry with him/her, speak of your motives for wanting the card and then review your history. Important: you are not a card collector, but rather have specific reasons for your interest in the ABC platinum card. Does he/she have any feelings about your chances of success... 7. If #6 is successful and you've made a "friend," seek permission to speak with them again after you apply (this is important). They have "go to" rates - you, AB, want a "go to" person at the ABC credit card company. 8. People generally want to be heros and will invite you to call after you've applied to see if they can help further. They need your report staring at them when they look at their computer screen. 9. After you submit your application (online), give it a day or so and call your new friend for a review of your app. There's only upside here in the form of better introductory / BT / go to rates AND there's the real possibility of an immediate CL increase. 10. After you've accomplished your goal - and this is important - be a good customer. Without exception, pay on time and keep your utilization reasonable. You're building a new relationship...a serious and long-term one...and one you want to be proud of. 11. Finally, only contact your new friend when necessary. Don't abuse your relationship. Does this work 100% of the time? No. But I will only seek credit with an organization if I have a "go to" person in my corner. This is not a Sheepshead trick or a back door. Just a procedure that makes sense for a responsible applicant who is interested in a solid relationship with a prime card issuer.
Re: Re: Re: Re: Re: Chase and inqs Wow, Sheep, you need to go into marketing. You nailed my philosophy right on the head! Great post!
Re: Re: Re: Re: Re: Re: Chase and inqs Thank you, Marci. I happen to be a fan of yours and look forward to reading your posts. Separately - have you contacted BofA re: 7.9 yet?
Re: Re: Re: Re: Re: Re: Re: Re: Chase and inqs Ewe talkin' to me? Did you read my reply to your scenario question???
Re: Re: Re: Re: Re: Re: Re: Re: Chase and inqs Actually, my darlin, I did read it, but only after I asked my question about your name! (The difference between women and men - it's a right brained, left brained thing.) I like your instructions, and when I am ready to apply for something new I will, in fact, try it out. I guess I wonder why, with your awesome scores, you feel the need to go through all that. How many times has it actually helped you? And yes, I intend to be the very best customer I can, because I want to protect what God's given me. On another post you were discussing briefly wanting to protect what you've built up and would love some advice from you on what I've got, what to keep, which cards to cut loose and how to build good relationships with the ones I should keep. I hate to intrude on your private time since it might be time consuming! Feel free to email me if you wish.
Re: Re: Re: Re: Re: Re: Re: Re: Re: Chase and inqs It has always helped. Would I have otherwise gotten the cards? Probably. Would I have gotten the same rates and limits? No - especially the limits. The software used to assign limits is conservative by design. It's your job to insert the human into the equation...and the human (analyst) has invariably overridden the computer in my case. And I'm not talking about insignificant differentials. Important: as I've previously said, the more credit I'm granted the more protective I am about how I use it. I've been entrusted with responsibility and I won't violate that trust. It was a long, long way up from the chasm.
Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Chase and inqs I'm sure we'd all like to hear a specific story (delete name here) about how it worked for you. What's your highest cl btw?
