Readers ask: How Long Does It Take For Chase To Make A Decision After Hard Inquiry?

How long does it take Chase to make a decision?

If you don’t get an immediate approval, you will most likely get a decision in 7-10 business days. However, sometimes it can take up to 30 days.

Does Chase care about inquiries?

Hard inquiries remain in your credit file for up to two years and, depending on how many you have in a short period of time, can negatively impact your credit score. The Chase 5/24 rule, however, does not look at hard inquiries —it looks at credit card accounts that were opened in the past 24 months.

How many inquiries is too many for Chase?

The Chase 5/24 rule is a restriction on who can apply for Chase credit cards. 5/24 is an mnemonic code for “five credit card inquiries in the past 24 months”. If you have more than five inquiries, you will likely be denied a Chase credit card.

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Does Chase approve instantly?

Chase approves most credit card applications instantly. As soon as you click submit, you should receive a decision within 60 seconds. However, some applications require further review.

What is the 5 24 rule?

What is the 5/24 rule? Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase’s 5/24 rule means that you can’t be approved for most Chase cards if you’ve opened five or more personal credit cards (from any card issuer) within the past 24 months.

Can I apply for 2 Chase cards a day?

What is the Chase 30 day rule? The general consensus on this rule is that you cannot apply for more than two Chase cards within any 30 day period.

Is 7 Hard inquiries bad?

Ultimately, it is up to the lender to decide how many inquiries are too many. Each lender typically has a limit of how many inquiries are acceptable. After that, they will not approve you, no matter what your credit score is. For many lenders, six inquiries are too many to be approved for a loan or bank card.

Does Chase do hard pull for existing customers?

No, if you request a credit limit increase from Chase, there will be a hard pull on your credit. However, if Chase increases your limit automatically (as they periodically might do) there will not be a hard pull on your credit.

Does Chase credit Journey hurt your credit score?

Checking your credit score through Chase Credit Journey will not affect your credit score. Now, you won’t be seeing your FICO score — the score relied on by most creditors when evaluating potential customers. Instead, you’ll be seeing your VantageScore credit score.

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Is 3 hard inquiries bad?

Hard inquiries aren’t bad to have — even if they may cause a slight temporary dip in your credit scores — but it can be good practice to know how to minimize the number of inquiries on your credit report. Experts generally recommend only applying for a credit card every six months.

How many inquiries is too many?

Six or more inquiries are considered too many and can seriously impact your credit score. If you have multiple inquiries on your credit report, some may be unauthorized and can be disputed.

Do multiple hard inquiries hurt your credit?

Multiple inquiries from auto loan, mortgage or student loan lenders typically don’t affect most credit scores. In many cases, the impact hard inquiries have on your credit score from shopping around may be less impactful than the long-term benefits of finding a loan with more favorable terms.

Does Chase ask for proof of income?

If you apply Chase credit card, there’s a chance that you will need to go through an income verification process. Chase has asked for pay stubs or W-2 forms for income verification, or in some cases just a verbal confirmation of the amount entered during the application.

Can I use my Chase card before it arrives?

Can you use a Chase credit card before it arrives? Get Your Chase Credit Card Number Before It Arrives in the Mail. Chase is one of the issuers that do not give you the credit card number as soon as you are approved.

Is Chase Credit Card hard to get?

Most Chase credit cards are intended for consumers with good to excellent credit scores. That means you should have a FICO® Score of 670 or higher when you apply. A score above 700 is even better and gives you a strong chance at approval.

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