My credit has been crap for sometime now due to mistakes I made almost 5 years ago now. But after turning things around and paying things on time for the past few years I decided to apply for a few cards on April 4th even though my credit wasn't great means my income is up. I still have tax liens showing on my report which i pay monthly to the IRS but of course there is no payment history shown on credit. I applied with Chase for the Freedom Unlimited and to no surprise was given the notification online that "We have received your request for a card. We'll let you know our decision by U.S. Mail..this could take up to 30 days". So I took that as about a 90% chance I was denied. But then what seems like a miracle happened, 6 days later I got an email saying "Welcome to Freedom Unlimited"!
This was definitely borderline miraculous means I had just closed a secured card and it pulled my score down even more on literally the day I had applied in which I didn't find out until later. They pulled my Equifax score (599) and Experian (587). I had no other open revolving or installment accounts either, not to mention the tax liens and one small medical collection on my credit that I had disputed for like $200. I will say that I have busted my arse since having to start over completely from scratch at the bottom with nothing going on 5 years ago now and my income last year was $507k. But they didn't even ask me to verify my income which was surprising to, but I was more than ready to do. My initial credit line I was given is $2k, which isn't even enough to cover some of the client dinners i have in a night....but beggars can't be chosers and I will just have to continue on the path for a bit until they see a CLI fit for me. ( I am assuming that asking for one now wouldn't sit to well? Unless maybe I could send income verification to help me case...)
Side Note, I had also applied for a Citi AAdvantage and Wells Fargo Cash Wise Card (who I actually bank with currently and even sees the large direct deposits I receive each month) the same day but was instantly declined by both. Considering trying to recon but not sure if it is even worth it now that my score has dropped a few points lower due to multiple inquiries from that day?
Hope this helps someone else out there considering giving Chase a go as I was very pleased and will most definitely be a loyal customer for giving me an opportunity when others would not.
@Anonymous wrote:My credit has been crap for sometime now due to mistakes I made almost 5 years ago now. But after turning things around and paying things on time for the past few years I decided to apply for a few cards on April 4th even though my credit wasn't great means my income is up. I still have tax liens showing on my report which i pay monthly to the IRS but of course there is no payment history shown on credit. I applied with Chase for the Freedom Unlimited and to no surprise was given the notification online that "We have received your request for a card. We'll let you know our decision by U.S. Mail..this could take up to 30 days". So I took that as about a 90% chance I was denied. But then what seems like a miracle happened, 6 days later I got an email saying "Welcome to Freedom Unlimited"!
This was definitely borderline miraculous means I had just closed a secured card and it pulled my score down even more on literally the day I had applied in which I didn't find out until later. They pulled my Equifax score (599) and Experian (587). I had no other open revolving or installment accounts either, not to mention the tax liens and one small medical collection on my credit that I had disputed for like $200. I will say that I have busted my arse since having to start over completely from scratch at the bottom with nothing going on 5 years ago now and my income last year was $507k. But they didn't even ask me to verify my income which was surprising to, but I was more than ready to do. My initial credit line I was given is $2k, which isn't even enough to cover some of the client dinners i have in a night....but beggars can't be chosers and I will just have to continue on the path for a bit until they see a CLI fit for me. ( I am assuming that asking for one now wouldn't sit to well? Unless maybe I could send income verification to help me case...)
Side Note, I had also applied for a Citi AAdvantage and Wells Fargo Cash Wise Card (who I actually bank with currently and even sees the large direct deposits I receive each month) the same day but was instantly declined by both. Considering trying to recon but not sure if it is even worth it now that my score has dropped a few points lower due to multiple inquiries from that day?
Hope this helps someone else out there considering giving Chase a go as I was very pleased and will most definitely be a loyal customer for giving me an opportunity when others would not.
Congratulations mak!
I'm curious as to whether the 5/24 rule was in place on this. Did you have 5 new accounts opened with the past 2 years?
@Anonymous wrote:No I have no had any cards opened with Chase in the past 5 years and only 2 other cards period...both with Capital One.
Thanks mak.
Chase is a smart company.
You're going to be a good customer for them 
Thanks @workingfor850. That is all good advice and I will defintiely check into this. Even when you are making good money without decnet credit behind it you always seemed to get shuned on every corner lol. Insurance is higher, deposit for everything, renting anything is a pain, etc. I'm sure you know that life though! I'm looking forward to getting my credit back on track and glad i joined this community as it will prove a huge benfit.
@Anonymous wrote:@Anonymous @Anonymous. That is all good advice and I will defintiely check into this. Even when you are making good money without decnet credit behind it you always seemed to get shuned on every corner lol. Insurance is higher, deposit for everything, renting anything is a pain, etc. I'm sure you know that life though! I'm looking forward to getting my credit back on track and glad i joined this community as it will prove a huge benfit.
You can do it, getting our credit back has really changed our lives for the better. It took less effort that I thought it would, I lived for years thinking I would never have decent credit again and when I finally came here life changed quickly. In 6 months to a year you can have a totally different credit profile. As things age off it only gets better. I think just having a positive trade line CC and installment loan will help you tremendously. Keep the utlization low and in a few months go after other cards. Look into joining a good credit union also, they are the best resource, Penfed, Alliant and NFCU are all excellent, NFCU is the most generous to those who have challenged credit histories.