First of all, thank you everyone for your good advice!! Been reading for a few months. I screwed up some courage and applied online for a Visa card from Chase. Just a classic card, didn't want to push my luck . Well, they pulled TU (my best report, they say a 700.) Got approved for $5000, with $750 available immediately for online shopping (nice feature). 2.99 for the first 6mos, then 16% Good for me. This is my first prime card since my financial difficulties over 7 years ago. It feels really good to be back in the "club". My TU is now clean of everything, which explains the approval. I have already done some shopping with it. My question: I imagine they will pull a TU periodically, no problem there. But if they pull an Eq or an Exp they will see my mid-600 scores......TU is my best report. I want to keep this card...will transfer a couple of subprime accounts over. Thanks again for your support!!
Congrats. I tried online for the Classic Continental Visa, and got the reply: Your application requires further review before possible approval. We will be contacting you within 30 days regarding the status of your application. Do you think this already means denied? Possible approval? Anyone had this message with Chase and got approved?
don't worry too much yet..... i've got it before with cards that are associated with frequent xx programs. if you have any status with the program, they seem to be a little more lax in the approval process.... good luck. bkev
Hey y'all - Sorry, I guess I was so excited that I forgot to ask my question! Does anyone know if Chase ever pulls Equifax or Experian as part of "account reviews" or whatever? Liike I said, the other two are not as pretty for me as my TU.
I'm not yet sure how Chase handles account reviews. I have had my card since March and have not had any account reviews on any of my reports. I pulled all three at the beginning of this month. Strange, but I'm not complaining. Maybe someone else who has had their account longer can give better insight.
NewGuy, I have had a Chase MC since July 2000. The only AR I can find is on Experian in Feb 2001. Nothing on Equifax as of this month, or TU as of January (last time I requested one). Hope this helps. edit: they pulled TU for the application.
Congratulations NewGuy!! A Chase card is bigtime!! Let me warn you, though. I got a Chase MC over a year ago at prime+1.4%. That got me down to 8.4% recently. But in the meantime, Chase sent me two different "change of terms" notices, which basically say "we're changing the terms, and if you don't like it, you can close the account and pay it off." The notices said they would pull Experian to reevaluate my account, even though they had originally pulled TransUnion. Experian sells a much more negative view of me that the other two CRA's, and on the second try Chase told me that my rate was going up to prime+7.99%. At less than 15%, that still makes the Chase MC one of my better cards, but it isn't the utopian superprime rate they originally gave me.
Thanks, RichGuy. This scares me. My Experian looks okay, mid 600s, but has a BK from 1994 on it (disputing it...nothing else negative). Here I am thinking I am "back"...I guess all I can do is try to limit behaviors that result in ARs. What prompted their ARs for you...did they just send you a letter saying "we're gonna run an Experian on you"? For what it is worth, never included Chase in BK (never even had an account with them) and I was 100% truthful on the application...it didn't ask about BK. Well, I guess I will enjoy the card while I have it. Maybe I tried to rejoin to "prime" club too soon? <sigh>
Sorry if I scared you. The only things I did wrong were: (a) I let my friend be an authorized user. He put the card over limit twice, the second time by only a dollar. That may have put me on some kind of list for review. (b) I asked for a limit increase after about 9 months. They pulled Experian for that one too. I may have gotten flagged for review because of that.
Whew, thanks RichGuy. I plan to be squeeeeeky clean with this card, not even gonna go near the limit (that helps FICO, right?) and no AUs for me. I have already sent them their first payment! Question for you: Did they send you a letter before they ran your Experian, or after? I am curious about their methods. Thanks!!
I believe the first notice said they would run an Experian report for review purposes. That was months before anything actually happened. In truth, I haven't gotten a statement yet with the new interest rate, but they did send a second notice, about three months after the first, telling me that they had already reviewed my account after running an Experian report, and that my interest rate would be increased. So one was a warning, and the other was an announcement of their decision. In a few days, I'll get my Chase statement, probably with a higher interest rate charged to the account.
