Credit Cards

[JPmorgan]

I didn't get an instant approval.  However, I didn't get an instant denial either.  Does this mean that I still have a chance?  And even if I get denied, I"ll call the backdoor number.  Fico is 660, with one collections still unpaid.  (over 4 years old).  I've got an Amex Green, and other small limit toy cards.  What are my chances?

Thanks guys.

[AF_23]

Well, i spoke with a rep who couldnt give me any info today about my Chase Amazon. You may have to wait it out. I was told to call back in a week which seemed stupidly long. It is the weekend though.

[kpresod]

Contact their backdoor department....and they'll be able to provide you with the final decision. Also, if you're denied simply ask the rep for a recon!

[JPmorgan]

Hi guys,

Got denied.  Called backdoor, and the nice rep said its because of the in dipuste, unpaid collections in the amount of $1700 that is causing the denial.

My question is, should I call back in a few hours and talk to another rep?

I've read that people do that.  What is your opinion?

[LS2982]

---

JPmorgan wrote:

Hi guys,

Got denied.  Called backdoor, and the nice rep said its because of the in dipuste, unpaid collections in the amount of $1700 that is causing the denial.

My question is, should I call back in a few hours and talk to another rep?

I've read that people do that.  What is your opinion?

---

You can but Chase does not like baddies and more than likely it will still be a denial.

[iCoop]

I was able to call them earlier this year when I got approved for the Amazon Visa. The rep said the system flagged my account due to excessive pulls, but it did not consider that many were for a mortgage and car loan as to condense them into one large pull. She approved me immediately with a $2K balance albeit at the highest APR.

[Revelate]

---

LS2982 wrote:

---

JPmorgan wrote:

Hi guys,

Got denied.  Called backdoor, and the nice rep said its because of the in dipuste, unpaid collections in the amount of $1700 that is causing the denial.

My question is, should I call back in a few hours and talk to another rep?

I've read that people do that.  What is your opinion?

---

You can but Chase does not like baddies and more than likely it will still be a denial.

---

It's not so much that they don't like baddies, but rather that no lender likes this particular one.

To the OP: a $1700 unpaid collection is a huge flag to any prospective lender.  Rigiht or wrong, the record states that you screwed somebody.  Unfortunately, the way the system works, lenders look at it slightly differently: namely, that you screwed all of them, ergo, including the one you're now applying to.  They will want a pound of flesh.  It is another example of where lenders are not consumers' friends.

You need to get it fixed if at all possible: a paid collection is no better than an unpaid one from a FICO perspective, but from a lender / underwriting perspective, it's absolutely a night and day difference... and $1700 is way above what lenders and FICO consider to be a nuisance collection.  

[cchoe]

I agree with the above.  Any account in collections will automatically be a red flag for any card services company.

To give you some context, I had a student loan from 2003 come back to bite me.  Because I transferred schools and moved sometime in 2006, the loan servicer didn't have any of my updated information.  I soon had payments that was 7 months late, and once I realized that this happened (from being denied a card much later), I took care of it.

I applied to a Chase Slate card the other day, and got denied.  After calling backdoor, they immediately brought that up, and I had to explain why it was so late.  The rep understood, and ended up approving my application with a $5k CL.  

My FICO is mid 600s, and I have a closed credit card (due to financial distress) which I've been making payments on since 2008.  The closed credit card has a $16k CL with a $9.8k balance.  I also hae upwards of 50k in student loan debt.

Bottom line, take care of the account thats in collections and you'll be able to reason more effectively during your recon call with Chase.