Chase Approval Status
For every 2 approvals, there’s approximately 1 decline. That’s according to the Credit Card Database over the last couple of months.
That’s a pretty good number of declines especially with Covid-19 still lingering, so it seems Chase is getting back to normal.
We have some applicants with good credit scores which did not get approved, so it may seem a bit unpredictable to determine the outcome of an application, although it does look like most declines were for the Chase business cards which have been tough getting approved for.
8 of 22 declines are on Chase business cards. The rest are mostly on the Sapphire and Reserve cards which must be harder cards to get approved for.
There’s the one who applied for Chase Ink Business Cash. He got declined due to poor business structure, even though his score is up at 800 and he earns an income of $90,000 annually.
Another business owner tried his luck at the Chase Ink Business Unlimited and was declined to the reason that his business was considered too new, at one month old. He’s got a nice income of $150,000 and a score of 779.
It might just be that you can get approved for business cards but you must have a really well-established business.
Not always is there a clear reason. Take this as an example; our applicant here has a score of 753 and earns an annual income of $30,000. He applied for the Freedom Flex and was declined. Offhand, seems no reason for a decline. But,we don’t know what and if he applied for previous cards, that may be the case. He might have applied too recently for other Chase cards which were in the way of him getting a new Chase card. He does have 14 years of credit which is nice and definitely plays a role in getting his score higher.
Then there’s an applicant with a score of 650, applied for the Freedom Unlimited, and was approved for a credit limit of $4,500. It’s his first credit card but since he’s been a customer with Chase for 2 years now, they approved him for the card.
Credit scores of applicants who’ve applied for Chase cards over the last few months and have reported to the credit card data base, range from 650 – 824.
Credit limits for those who’ve been approved range from $800 – $34,000.
So Chase is doing a good job hand-picking their members.
Chase Is Getting Back On Its Feet
Chase has also recently put out a new offer for the Chase Sapphire Preferred, at 80,000 points. That, and approving more and more applicants, is a sure sign that Chase is getting back to things, a bit like post-Covid era.
Even so, you must still be careful when applying for a new card. .
There’s the fellow who applied for Chase Freedom just last month. They declined him due to “too many recent inquiries”, as the rep said. He’s got 9 within the past 12 months.
Rules will remain rules even when approvals seem to soften.
