Chase has been a leading credit card issuer for some time and offers some of the best overall cards available. But being approved for one of these much desired cards is not always easy. Now you can increase your odds of getting approved for a Chase credit card by exploring pre-approved and pre-qualified offers.
The Best Way to Get Pre-Qualified Offers – Online via the Chase Portal
You can find out which Chase cards you are pre-qualified for online by going to their website.
Chase online pre-qualification options include the Slate, Freedom and Sapphire cards. This feature does not extend to their co-branded cards.
Targeted offers can also be found online in a roundabout way. You may be able to find Chase card pre-approval opportunities by logging into portals for things like a
Pre-Approved vs Pre-Qualified: What’s the Difference?
Is there really a difference between being pre-approved and pre-qualified for a credit card? Sort of. While there are many similarities between a credit card pre-approval and a pre-qualification, they are not actually the same thing. Both a pre-approval and a pre-qualification will get you one step closer to
A pre-qualification usually gets initiated by the consumer when they want to know what kind of credit card they will be eligible for. The lender will then do a “soft” credit check and respond with whichever offers seem appropriate based on the information provided.
A pre-approval is initiated by the bank, but basically involves the same thing. The bank will do a “soft” credit check and then extend pre-approved offers based on what they find.
Learn More About: Chase Credit Cards
Once you decide which offer you actually want to apply for, then the bank does a hard pull on your credit. If your credit profile remains the same and there is nothing negative revealed when the bank does this, you will most likely be approved for the credit card you applied for.
Can a Pre-Qualification or Pre-Approval Hurt My Credit Score?
Doing a little homework to find out which credit card offers you may be eligible for will not hurt your credit score. When banks offer pre-approved, pre-qualified, or pre-screened offers for credit cards, they only do a soft pull on your credit report. Don’t worry because this has no effect on your credit score.
Once you choose to complete an application, the bank will then do a hard inquiry. Hard inquiries will stay on your credit report for up to 24 months whether you are approved for the card or not, and generally bring your score down by five points.
Will Chase’s 5/24 Rule Affect My Ability to get New Offers?
In June of 2015, Chase implemented a new rule that states that they will not approve any applications for a new credit card if the person has opened 5 or more bank cards within the prior 24 months.
Read More: Exceptions to the Chase 5/24 Rule
This rule applies to all banks, not just Chase. So if you have opened 5 or more new lines of credit within the last 2 years, Chase will not allow you to open a new credit card account with them.
Which cards Apply To the 5/24 limit?
It is not just Chase issued cards that count towards this rule. Any new credit card accounts that have been opened in the past 2 years will count towards Chase’s rule. Unfortunately, some credit card accounts that list you as an authorized user (whether you actually use them or not) will also count towards the total.
Which Cards Don’t Count Towards the 5/24 limit?
- British Airways Visa Signature® Card
- Amazon Rewards Visa Signature Card
- Marriott Rewards® Premier Credit Card
- IHG® Rewards Club Select Credit Card
- The Hyatt Credit Card
- The Ritz-Carlton Rewards® Credit Card
- AARP® Credit Card from Chase
- Disney® Visa® Credit Card
This rule only applies to accounts that were actually opened, so being denied for a card will not count towards your 5 card limit. Some
How To Get Around the 5/24 Rule and Continue Getting Chase Offers
It is fairly simple to get pre-approved for credit card offers from Chase, as long as you have the required credit rating and don’t fall within the 5/24 category. But even if you have opened 5 new bank cards in the past 24 months, there may still be hope. Many people have still been able to get a new card offer from Chase by using one of these methods.
For some reason, some people have reported that when they apply for a Chase credit card from inside the actual branch, they are in fact approved. Try going into your local branch and simply ask them specifically about offers that you qualify for. If the pre-qualification is requested and generated from within the branch itself, you may find success in both being approved and also by-passing the 5/24 rule.
If you receive an offer in the mail for a new Chase card, you may be able to get around their 5/24 rule. This is most often successful when you receive an “exclusive invitation” either in your mail box or via email. Although these are still not a guarantee, they definitely put you a step closer to getting approved and may help in getting around the 5/24 rule.
Unfortunately, there is no way to make Chase send you one of these. Poking around on their website and making a request or inquiry by phone through customer service can’t hurt though.
If you never get credit card solicitations by mail, you may have opted out in the past and forgotten about it. If you have opted out, you can choose to opt back in. If you are not sure of your status you can call 1-888-5-OPT-OUT to check.
If all else fails, you can always try the reconsideration line. They can and do make approvals after initial denials. Due to things like Chase’s 5/24 rule, good customers sometimes get denied because of automatic triggers programmed in their system. These can oftentimes be overridden or ironed out. If nothing else, you can find out why you were denied to enlighten you going forward and hopefully get you an approval later down the line.
The Bottom Line
While Chase may offer some of