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Valued Contributor
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Registered: ‎07-24-2011
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App itch-Chase Freedom denied--UPDATE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[ Edited ]

Yea so much for the garden....I am such a loser Smiley Happy

 

So I have a Chase checking/savings account and I really like banking with them.  So I get the itch and apply knowing that I am marginal.  I get the "yea we'll get back to you later" message so I call the recon number.  The nicest girl answered the phone and she tells me that I was declined due to my bankruptcy.  I asked her if I could recon this and she said sure would.

 

She said that she sees a number of inquiries since september (I believe around 10 of which 4 were for a car) and 14 new accounts opened since June of last year Smiley Surprised.  

 

I didn't know that I had that many opened, I mean well I knew that I had opened a lot, but didn't realize it was 14!!!  Okay but a lot are toy limits that I don't use, you know how it is when you first get started and everytime you see "APPROVED" the adrenaline surge gets you pumped up.  So yea I got addicted and been trying to stay away from the apps but it ain't easy while hanging around these parts with you guys...LOL!

 

Anyway she said that I was doing a great job at re-establishing my credit but at this time they can't approve me for anything because of so many new accounts in the last year.  She sounded like she wanted to give me something but just couldn't or wouldn't cross that line.  I mean she asked about everything, why I filed bankruptcy, how I was handling my accounts monthly (basically that I PIF), etc.  But then....

 

There was one thing she said that made me think that she was somewhat of a newbie.  I asked her what they pulled and she said TU.  I asked her what was my score and she said that they don't base their decisions on scores, but I could go and get my score from anyone of "those" sites that offer your credit reports.  She also mentioned myFico for credit help!!  

 

Well now what she said sent up a red flag, and I was thinking maybe I should call back and see if I get someone else.  But then I thought, mehhhh, forget it.  I mean how do you explain 14 new accounts inside of a year?  My util is at 11% and total CL's are $28K so I think as long as I keep that utilization low, let these accounts age with NO MORE apps I wll be okay for an account sooner or later.  Oh and btw, she didn't even ask me about the fact that IIB'd them.  Go figure?

 

 

UPDATE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

OMG!!!! OMG!!! OMG!!!   

 

So I'm sitting here, drinking some captain and coke, and getting a nice buzz.  I am just mulling over this entire situation and I decide to pull my EX and see that Chase hit me up there as well today.  So two HP's and a denial.  And I said oh what the hell.  I called the recon number AGAIN today and a guy named Joseph answered.  

 

Before he could finish saying hello I just blurted out to him that I apped and was denied due to bankruptcy.  I said that was 6 years ago and I paid back my debt.  I have been re-establishing my credit.  I went on to explain the two negative items on my report that were IIB and should be off of my reports by now, but the damn CRA's are playing games and I can't get it off.  I told him that I PIF on a regular basis except in those cases where I can get some great offers like 0% BT's.  I said that I want a Chase Freedom because I want to establish a relationship with a local bank that I can walk right into.  I made him sit there and listen to me go over every line item on my report.  

 

I addressed the inquiries and told him that some were for auto's, CU memberships and some credit related.  I explained that the gazillion store cards were only opened to gain extra savings on the items that I purchased and he can verify that because a lot of them don't have activity for 6 months or more.  He said okay ma'am, I'd like to put you on hold and review your account further.  I said yea sure.  This guy put me on hold for about 5 minutes and came back and said ma'am I have just pushed this through and you are approved for $5K!!

 

And he said if you login to your account now you should see it.  And its there people!!! Already sitting there with a CC number and limit!!

 

Yayyyyy!!!!!!!!! Woot Woot!!!!  Wooooooo!!!!!!  Ahhhh!!!!  

 

I did a drunk recon and it worked!  I cannot believe this.  Like I am still in shock.  

 

I am stoked and now I am really done for a long while.  I do not need anything else except for to take care of all that I have.

 

Oh and I did IIB Chase, so no blacklist for me.  Woooo hooooo!!!! 


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Super Contributor
Posts: 6,236
Registered: ‎02-23-2011
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Re: App itch-Chase Freedom denied

In my view, if you "really" wanted this card (not just app'ing because you were bored, which I've done before), since you've already taken a HP, you could call back in a week and maybe get a different result.  It's been known to happen.

 

On the other hand, if the card isn't really that important to you, then I'd let it go for two reasons.  One, your next recon may result in additional HPs on other CRAs.  Two, they may approve it with another toy limit, which for Chase is problematic given the unlikely scenario of ever raising a CL with a SP.

 

With Chase, I've always felt it's best to app when your CRs are in the best shape for the higher CL.  Conversely, with Amex, just get in and with a high usage and transaction score, your CLs will have a meteoric rise without additional HPs.

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Registered: ‎07-24-2011
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Re: App itch-Chase Freedom denied

.


Open123 wrote:

In my view, if you "really" wanted this card (not just app'ing because you were bored, which I've done before), since you've already taken a HP, you could call back in a week and maybe get a different result.  It's been known to happen.

 

On the other hand, if the card isn't really that important to you, then I'd let it go for two reasons.  One, your next recon may result in additional HPs on other CRAs.  Two, they may approve it with another toy limit, which for Chase is problematic given the unlikely scenario of ever raising a CL with a SP.

 

With Chase, I've always felt it's best to app when your CRs are in the best shape for the higher CL.  Conversely, with Amex, just get in and with a high usage and transaction score, your CLs will have a meteoric rise without additional HPs.


Yea one part of me thinks since I took the HP I might as well try again, but then again the other side says don't worry about it just move on.  If I do another recon then surely they will question 14 new accounts and I have no excuse other than to blame it on the myFico community....not sure if that will work though.

 

I'm really thinking about closing out some of those store cards, you know the commenity cards that we can get real easily, and some other low limit cards to reduce the number of recently opened accounts.  Chase is one of my goal cards along with Amex, but do I *really* need them now?  No I don't and it was one of those *bored apps* but I like I said earlier, I'm struggling with myself about doing the recon since I already took the HP.  What have I got to lose you know?

 

Let this be a lesson, it has been said time and time again here, only open the accounts you really will use and don't go gang buster out of the gate rebuilding.  


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
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Posts: 208
Registered: ‎03-20-2013
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Re: App itch-Chase Freedom denied

Closing the cards won't increase the AAoA or get rid of the inqueries. So, I'd hold on to them. What they will do is reduce your total utilization, which is a good thing.



Amex BCE: $16.5k, Discover It: $5k, Chase Freedom Visa: $10k, Fidelity Amex: $7.5k, PenFed Cash Rewards Visa: $3.5k, CapOne Union Plus MC: $4.5k, Barclays Upromise MC: $5k, BoA Cash Rewards 123 MC: $1.5k
Frequent Contributor
Posts: 351
Registered: ‎01-07-2012
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Re: App itch-Chase Freedom denied

I thought Chase pulls EX for the most part?


| EQ 763 |
| Amex BCE 7500 | Marriott Rewards Premier 5500 | Citi Simplicity 4000 | Discover IT 1700 |

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: App itch-Chase Freedom denied

Chase does not like to see a lot of inquiries or a lot of new accounts. Most people garden pretty heavily for at least six months before they hit up chase. If the inquiries are older than 6 months, it doesn't hurt to try to recon again but you could get stuck with another toy limit which is counter productive. You can also mention your checking and savings with chase.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Posts: 27,204
Registered: ‎09-13-2012
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Re: App itch-Chase Freedom denied

I agree with webhopper. I had 7 Exp inq in the past 6 mos - added 7 new accounts (reporting) at the time I applied. I had to recon for my approval and the CSR questioned me on my inq's and new accounts. Luckily, 3 of the inq's were from Chase plus I had my auto loan with them for 11 mos.

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Posts: 1,507
Registered: ‎07-24-2011
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Re: App itch-Chase Freedom denied


ElCamino wrote:

Closing the cards won't increase the AAoA or get rid of the inqueries. So, I'd hold on to them. What they will do is reduce your total utilization, which is a good thing.


AAoA as it is 8.6 years and of course keeping them open will help with util....however none of that is a concern for me now.  I'm just having an internal struggle with myself on the recon issue.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Established Contributor
Posts: 569
Registered: ‎10-22-2012
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Re: App itch-Chase Freedom denied

For credit card underwriting Fico (vantage etc) scores are not used in approvals/denials.

Capital One Quicksilver- $5,400 | Chase Freedom - $8,000 | Chase Freedom Unlimited- $13,000 | Chase Amazon -$5,000 | Priceline Visa -$10,000 | US Bank Cash+ - $18,200 | Fidelity Visa -$10,000 | Sallie Mae- $10,000  | DCU Platinum $12,000 | Discover IT - $10,000 | Amex EveryDay - $25,000  | Amex BlueCash Everyday- $9,800 | Citi DoubleCash - $18,000 | Sapphire Preferred- $13,000 Freedom Unlimited$7,000 Blispay$12,000 | Chase Sapphire Reserve- $18,000 | Consumers Credit Union Visa Sig Cash Rebate$25,000

Valued Contributor
Posts: 1,507
Registered: ‎07-24-2011
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Re: App itch-Chase Freedom denied


nwokcguy wrote:

I thought Chase pulls EX for the most part?


Must be a regional thing because I just checked and they sure as heck pulled TU.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014

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