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740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!

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zerobacan
Established Contributor

740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!

DW went to her branch she has been banking with Chase for the last 6 years, and applied for the Freedom

got the 7 to 10 days, we called the backdoor number and credit "ANALyst" after reviewing the app, told her she had 9 inqs and 6 new accounts in the last year and that it was too much. that she should stop looking for new credit as she would get denied.

 

They pulled EX

Utility is at 10%

AAoA 11 months<<<< that could be the other problem

 

New 6 accs in the last 6 months, the most recent is over 2 months

 

Amex Delta 5.5ks

Amex costco 5ks

Sam's Discover 3.8ks

Credit union 3.8ks

 

her 9 inqs in a year were from

 

double macys pull on march, could not find her

double Amex on May Delta and Costco

Citi/children's place march

Victoria March                           6 months

Credit Union Jan   over a year

Loan place

Macys again... she always got denied because they couldnot write her name right

 

 

We then went shopping and GAP had a 15% off ofer on top of other coupons, she was pissed at Chase so she applied and got approved for the VISA card for 2ks.

 

there it goes for the record!

 

 

And yes she knows she will stay in the garden for the next year!

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Message 1 of 14
13 REPLIES 13
09Lexie
Moderator Emerita

Re: 740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!

Sorry for the denial but as you know CS is one piece of the pie. Chase uses an internal score and its pretty clear that they are new accts sensitive. You could always recon again and explain the multiple inq's from Macy's - explaining the new accts ESP on a thin file might be a hurdle.

Don't stop at one call, try again. You never know what the next analyst will say.
Message 2 of 14
LS2982
Mega Contributor

Re: 740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!


@zerobacan wrote:

DW went to her branch she has been banking with Chase for the last 6 years, and applied for the Freedom

got the 7 to 10 days, we called the backdoor number and credit "ANALyst" after reviewing the app, told her she had 9 inqs and 6 new accounts in the last year and that it was too much. that she should stop looking for new credit as she would get denied.

 

They pulled EX

Utility is at 10%

AAoA 11 months<<<< that could be the other problem

 

New 6 accs in the last 6 months, the most recent is over 2 months

 

Amex Delta 5.5ks

Amex costco 5ks

Sam's Discover 3.8ks

Credit union 3.8ks

 

her 9 inqs in a year were from

 

double macys pull on march, could not find her

double Amex on May Delta and Costco

Citi/children's place march

Victoria March                           6 months

Credit Union Jan   over a year

Loan place

Macys again... she always got denied because they couldnot write her name right

 

 

We then went shopping and GAP had a 15% off ofer on top of other coupons, she was pissed at Chase so she applied and got approved for the VISA card for 2ks.

 

there it goes for the record!

 

 

And yes she knows she will stay in the garden for the next year!


Time for DW to hit the Garden...... Smiley Wink




EQ FICO 548 3/3/16
Message 3 of 14
emptypockets
Valued Contributor

Re: 740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!

I think the low AAoA plus the new accts/INQ's is the problem. Chase seems more picky about having a longer history than they are about INQ's, in my experience. I was approved for Chase Marriott in April, and Chase SW in June, and had about 4 other new accounts/INQ's in past 7-8 mos, and I had no problem getting approved, but my AAoA is 5 yrs.

 

+1 on trying a re-con again. A different CSR may approve the Freedom acct. Doesn't hurt to try.


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (3), Chase (5), US Bank Cash+, Huntington Voice, Nasa Plat Cash Visa, Barclay's Visa, Discover IT, Cap One QS, BOA (2), BMW Visa, 5/3 Real Life Rewards MC; FNBO Amex; Comenity Visa/MC (3), Ebates Visa Siggy, Nordstrom Visa, Walmart MC, Sam's Club MC; A few assorted store cards.

Current Scores (09/2017): EQ My Fico: 786; TU MyFico: 799; EX (My Fico): 797
Message 4 of 14
zerobacan
Established Contributor

Re: 740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!

Ill try to convince her to give it another try.

 

the person she talked to, did not ask her anything. When I applied 3 months ago the analyst asked me what I have to say about my new accs, 9....

this guy was really quick in saying no, dont apply anymore...

 

it is just dumb they dont take care of their clients, after apping she told me she will close her accs with chase...

Amex PRG NPSL, Amex Delta 2k (AU) Discover iT 5k, BOFA Siggy $5k, BOFA AlaskaAir Siggy 5k, BBVA Compass $5k! Macy's $4.5k, C1 $2.5, SFCU $2.5k, SFCU LOC $2k, Paypal SmartC $4k, Sam's 5.5k Victoria Secret $2k, Kay's $1.7k.,76/Citi $1.5k Amazon $5k, Walmart Disco $3k JC Penny $4k, C1 $2.5, BBRZ 700.
Starting:TU:536 EXP:561 : EQ:552 Current:TU:680 Walmart (2-15-14)EXP:712 FICO!! (12-4-13):EQ:622 (FICO 2-6-14) Uti 27% Goal: 720 By 12-13.
Message 5 of 14
chnceit
Valued Contributor

Re: 740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!

Sorry that she didnt get it with that score. But scores are not everything. Its whats in your file. Time to garden and let those inquiries age. 


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 6 of 14
09Lexie
Moderator Emerita

Re: 740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!

Taking care of their customers...there is thread regarding threatening to close your acct. DW is one of thousands of cardholders for Chase. You have to consider whether or not the reasons for denial are extreme or if at all plausible.

Thin file + excessive inq's + multiple new accts = time to garden.
Message 7 of 14
parakleet
Valued Contributor

Re: 740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!


@09Lexie wrote:
Taking care of their customers...there is thread regarding threatening to close your acct. DW is one of thousands of cardholders for Chase. You have to consider whether or not the reasons for denial are extreme or if at all plausible.

Thin file + excessive inq's + multiple new accts = time to garden.

+1 I agree. I think it may be a bit short-sighted to close all of her accounts with Chase due to the denial. I would suggest she garden and apply again after a year. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 8 of 14
YahComb
Established Contributor

Re: 740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!

sometimes i think the issuers have arbtitrarily moving targets, just to mess with people. It's always weird when you have two people with similar profiles, one gets instant approved, one can't even get lucky with multiple recons.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Message 9 of 14
NewtoCredit80
Frequent Contributor

Re: 740 FICO Denied Freedom. Chase very picky about new accounts and inqs in the last year!

OP chase missed out on a good customer. Many lenders might reject your DW due to recent inquiries. I would also recommend her gardening for 6 months and let the new cards grow.


PNC Secured 2000 (Dec12), Chase Amazon 2000 (Apr13), CapOne Newcomer 2500 (May13), Citi dividend 3000 (May13), Discover IT 1000 (Jul13), Amex BCP 6000 (Jul13), Chase Southwest 10000 (Jul13), Chase Marriott 12000 (Oct 13), BofA Travel Rewards 5000 (Dec13)

- In garden till Dec 2014
Message 10 of 14
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