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Regular Contributor
Posts: 118
Registered: ‎08-13-2012
0

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!
Valued Contributor
Posts: 1,962
Registered: ‎01-24-2012
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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.

Regular Contributor
Posts: 118
Registered: ‎08-13-2012
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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!
Established Contributor
Posts: 697
Registered: ‎03-16-2012
0

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: TU: 598 03/23/2012 EQ:607 05/24/2012 EX:607 04/26/2012 (lender pull) EX FAKO:522 03/2012
Current Score: TU(Myfico)04/2013:689 EQ(Myfico)04/2013:701 EX(AMEX pull)04/01/2013:675 (CreditSecure FAKOS) 5/14/2013 EX:726 EQ:701 TU:730 TU(Walmart):699
Barclay Rewards:5k/Cap1:$3.5k/Cap1:$2.5k/Citi TYP:2k/Freedom:$5k/Slate:3k/Marriott visa sig 5k/BCE:$1k/Zync: $500 PSL/Discover IT:$1.9k/Walmart:$8k/Chevron:$5k/Gap:$5k/Kay:$3.4kk



Valued Contributor
Posts: 1,962
Registered: ‎01-24-2012
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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.

New Member
Posts: 2
Registered: ‎10-27-2012
0

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

[ Edited ]

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....

Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
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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. :smileyhappy:




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
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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 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Valued Contributor
Posts: 2,110
Registered: ‎12-29-2011
0

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

[ Edited ]

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!

The truth is out there...
FICO scores: 764 (EQ) 732 (EX) 757 (TU) 9/14 | Goal score: 750+ (all 3)
Tradelines: Capital One QS NPSL (5.0k) | Discover IT (6.0k) | Walmart Mastercard (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)






Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
0

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 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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