Thinking of going for the Chase Hyatt Card - Good odds?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Mech
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Thinking of going for the Chase Hyatt Card - Good odds?

Postby Mech » Sun Dec 14, 2014 4:01 pm

Hi,

I've had my eye on the Hyatt card for a few months, and was hoping to get some expert advice here before applying and eating the hard pull.

I've heard that this card must be a Visa Signature, so I'd have to qualify for at least a $5,000 credit limit to be approved. Here's a snapshot of what'd they'd see when they pull my report:

Current Card Accounts

1. Chase - $3,600 CL : $0 Balance
2. Amex - $3,800 CL : $0 Balance
3. Cap One - $4,000 CL : $390 Balance


Unsecured Loan

$3,000 - Opened 11/2014 : 48 month but will pay off much, much faster.


Inquiries

1. Cell phone from several months ago, new customer account.
2. Bank - Checking account opening, 1.5 years ago
3. 2x Bank - Last month (2 pulls for same app, the heck?)

No derogs, no missed payments, average account age is 9 years, overall utilization about 3%.


This will be the first time I've considered applying for a new credit card since 2006, so I'm not entirely used to how much weight they put into this stuff. My worries are the 2 pulls from last month for an unsecured loan (to establish lending relationship with them and better APR for one of the cards and a BML acct).

Reported income is in the $25-30k range for the time being, and my total overall credit w/o the loan is $11,400. I've heard trying to go over 50% of your reported income is bad, and can freak out your other creditors.

If they give me the "additional review" message, I was thinking about calling recon and explaining that I'd be willing to re-allocate $900 of my current credit with Chase to the new card (I'd love to keep my Freedom for the bonuses), and dock my CL with Cap One by $3,000 since I'm not too fond of them these days, but they are my oldest account so I'd like to keep it open. Those changes, and an approval for $1,100 credit from them, would give me the $5,000 minimum requirement for Visa Signature and put me at $12,500 total across all cards; 50% of the income scale on the low end.

I'd love to know if anyone has had any experience with a similar situation, or can offer any advice on anything I may have missed here. The Hyatt card is very appealing to me for multiple reasons, but I'd prefer to not have to close another account to get it, or eat a hard pull and not get approved even after recon.

Thanks!


babybear9925
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Postby babybear9925 » Sun Dec 14, 2014 10:04 pm

your Dealing With Chase Chase is Very Funny on how view Applications i applied for a Freedom card and they did not approve me i and i have great Credit but it worth a try i would give more time if you know what i mean give about 6months from now keep paying your bills on time and then apply my advice to you
first of all i would apply for a chase Freedom Visa and then like six months after that i would go for the Hyatt card your building a relationship with them.

Nixon
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Postby Nixon » Wed Dec 17, 2014 9:00 am

Do it.

Chase seems generous right now.
Image

Mech
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Postby Mech » Wed Dec 17, 2014 10:46 am

Pulled the trigger. Instantly approved for $7,400 :D

Woohoo! ;) ;)

babybear9925
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Nice

Postby babybear9925 » Wed Dec 17, 2014 1:24 pm

wow that great Christmas Present



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