cancel
Showing results for 
Search instead for 
Did you mean: 

1st attempt to recon.....bad

tag
deg757
Regular Contributor

1st attempt to recon.....bad

I applied for the Chase Freedom today and my app needed further review. I called the backdoor number. I had no idea that they were going to ask me about EVERYTHING on my credit report. The Walmart card I used to have had some late payments on it in 2011. She wanted an explanation of that and why my student loans had a late payment 3 years ago. I know that I was very irresponsible back then but I was not prepared to answer her questions in any intelligent way. Needless to say, she did not approve the application and she actually referred me to myFico to educate myself on responsible credit practices.

 

On a good note, we closed on our house this morning and I was approved with a $1,500 credit line for the My Discover card.

Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!
Message 1 of 14
13 REPLIES 13
navigatethis12
Valued Contributor

Re: 1st attempt to recon.....bad

Chase will not approve if you have lates less than a year old; that is what an analyst told my brother anyway. I would suggest waiting until January, otherwise you may get stuck with a $500 limit like many others have gotten.

Message 2 of 14
deg757
Regular Contributor

Re: 1st attempt to recon.....bad

My last late payment was in August of 2011.

Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!
Message 3 of 14
kobe2012
Established Contributor

Re: 1st attempt to recon.....bad


@deg757 wrote:

I applied for the Chase Freedom today and my app needed further review. I called the backdoor number. I had no idea that they were going to ask me about EVERYTHING on my credit report. The Walmart card I used to have had some late payments on it in 2011. She wanted an explanation of that and why my student loans had a late payment 3 years ago. I know that I was very irresponsible back then but I was not prepared to answer her questions in any intelligent way. Needless to say, she did not approve the application and she actually referred me to myFico to educate myself on responsible credit practices.

 

On a good note, we closed on our house this morning and I was approved with a $1,500 credit line for the My Discover card.


call again and recon...but i think your lates were too recent...they denied my chase amazon yeasterday 3 times cause of 6 yr old collection and decided to just email executive office....then they approved it 3 hrs later!!! Only $500 but its ok For now


Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Message 4 of 14
navigatethis12
Valued Contributor

Re: 1st attempt to recon.....bad


@deg757 wrote:

My last late payment was in August of 2011.


Okay, I should have asked instead of just guessing. As kobe2012 pointed out, you can always try again but will probably get a low limit. You can of course ask for an increase, and they are pretty good with granting them.

Message 5 of 14
idajedd
New Member

Re: 1st attempt to recon.....bad

I'm in kinda the same boat.  With that said, I suppose my application (for Chase Amazon) was overly optimistic.  The short version is that I messed up my credit big time in 05-06 and have just hunkered down since, with the exception of auto loans.  I have banked with WaMu/Chase for the last 12 years, paid off one auto loan with them and just got a second.  I guess I was hoping based on positive payment history they might be willing to offer at least a toy credit line on a card to start rebuilding.  I have two open collection accounts left from the time period; one that will fall off in Feb/13 the other in Dec/13, one paid medical collection from a few years ago.  Current credit scores are EX 613 (FAKO)/EQ 615 (FICO)/TU 583 (FAKO) (they pulled EX).  The chase analyst told me that with the collection accounts, they could not approve; I just wasn't sure how to respond.  I know some of you have had success and was hoping for some advice...

 

Thanks....

Message 6 of 14
LS2982
Mega Contributor

Re: 1st attempt to recon.....bad

Yes, getting schooled and scolded on a recon isn't fun, i've been down that road a few times but almost all the time its advice that is true and should be a wake up call to you. Smiley Happy




EQ FICO 548 3/3/16
Message 7 of 14
Duncanrr
Valued Contributor

Re: 1st attempt to recon.....bad


@navigatethis12 wrote:

Chase will not approve if you have lates less than a year old; that is what an analyst told my brother anyway. I would suggest waiting until January, otherwise you may get stuck with a $500 limit like many others have gotten.


That's not accurate. In early September I was instantly approved for Chase Amazon Visa for 2k CL and then approved for Freedom 3 days later after successful recon. i had a long string of lates on my CR. my last late was March 2012.  I did have a very successful recon and I told her about every single aspect of my CRs and detailed that while my CR says I was late that I had bank records that show I've paid the note every month since August. I gavther the dates/amounts of each payment and she was impressed. So the Amazon was approved without having to do this and they didn't kick me dour to lates. I had to recon freedom because it was soon after my amazon app. 



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 8 of 14
maiden_girl
Valued Contributor

Re: 1st attempt to recon.....bad


@Duncanrr wrote:

@navigatethis12 wrote:

Chase will not approve if you have lates less than a year old; that is what an analyst told my brother anyway. I would suggest waiting until January, otherwise you may get stuck with a $500 limit like many others have gotten.


That's not accurate. In early September I was instantly approved for Chase Amazon Visa for 2k CL and then approved for Freedom 3 days later after successful recon. i had a long string of lates on my CR. my last late was March 2012.  I did have a very successful recon and I told her about every single aspect of my CRs and detailed that while my CR says I was late that I had bank records that show I've paid the note every month since August. I gavther the dates/amounts of each payment and she was impressed. So the Amazon was approved without having to do this and they didn't kick me dour to lates. I had to recon freedom because it was soon after my amazon app. 


I would merge your Chase Amazon and Chase Freedom cards together. I did this recently and was successful! Now I can maximize my Freedom card!

As of 2017, rebuilding...
Message 9 of 14
Duncanrr
Valued Contributor

Re: 1st attempt to recon.....bad

I may after refi. I'm going to HP CLI first and see how that goes


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 10 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.