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New Visitor
RebuilderCredit
Posts: 3
Registered: ‎04-01-2013

Chase, Amazon & Merrick Cards

I've been rebuilding my credit for some time and have a bunch of cards already. Apping is a problem for me. I'm worried because I sent in apps for Chase Freedom, Amazon Store card and a Merrick Bank Visa...not expecting them to be approved at all. They were all approved within a week of eachother. I'm nervous I ruined all my hard work with regards to my FICO because I just took out so much credit at once and my AAOA is going to plummit. Of all my current cards, I am most worried about a Barclays because I know they are sticklers when it comes to getting new credit. Clearly I'm going to be gardening for a while. Here are my questions:

 

Does anyone have an idea if they are going to close the cards I just got when they realize?

Or how my other other cards might be effected? 

Does anyone know if Chase softs regularly and if they are known to close accounts (like Barclays is)?

Do I call Amazon and ask they close the account before it reports?

 

Any help would be appreciated.

 

Equifax: 660

Transunion: 670

Experian: 680

4.5 year old bankruptcy

 

Mega Contributor
Creditaddict
Posts: 18,951
Registered: ‎10-23-2007

Re: Chase, Amazon & Merrick Cards


RebuilderCredit wrote:

I've been rebuilding my credit for some time and have a bunch of cards already. Apping is a problem for me. I'm worried because I sent in apps for Chase Freedom, Amazon Store card and a Merrick Bank Visa...not expecting them to be approved at all. They were all approved within a week of eachother. I'm nervous I ruined all my hard work with regards to my FICO because I just took out so much credit at once and my AAOA is going to plummit. Of all my current cards, I am most worried about a Barclays because I know they are sticklers when it comes to getting new credit. Clearly I'm going to be gardening for a while. Here are my questions:

 

Does anyone have an idea if they are going to close the cards I just got when they realize?

Or how my other other cards might be effected? 

Does anyone know if Chase softs regularly and if they are known to close accounts (like Barclays is)?

Do I call Amazon and ask they close the account before it reports?

 

Any help would be appreciated.

 

Equifax: 660

Transunion: 670

Experian: 680

4.5 year old bankruptcy

 


Merrick what card did you get? I thought they left credit market for most part unless pre-approval or secured and they are not good? what did you get and what fees?

Chase Freedom Approved for how much?

What Barclay do you have? WHO CARES if they close, you got CHASE!

Amazon Store is GE and you can get SP CLI all the time (4-6 months normally) but HUGE increases if you want for no reason really if you just take time and it's always SP!

as far as score and what not, what cards did you have before these 3? you really could see no change or see big jumps, (I doubt actually you will see downs or at least downs more than 10 points and lasting less than 6 months!

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:
New Visitor
RebuilderCredit
Posts: 3
Registered: ‎04-01-2013

Re: Chase, Amazon & Merrick Cards

[ Edited ]

Thanks for the response. For Merrick I got the Double Your Line Visa, no fees (pre-approved) but I've applied for pre-approved before and been declined lol. Gave me $900 will double to $1800 in 7 months with on-time payments. Chase Freedom gave me $500 after a longg recon. And $900 from Amazon. Barclays is my only "Amex" which is why I'm worried. Other than that I have:

 

Walmart: $900

Paypal: $500

Cap 1: $1200

Cap 1: $500

Cap 1: $500

Cap 1: $750

HSBC/Cap 1: $300

Wells Fargo (secured): $300

Barclays Amex: $1000

Target: $200

Mega Contributor
Creditaddict
Posts: 18,951
Registered: ‎10-23-2007

Re: Chase, Amazon & Merrick Cards


RebuilderCredit wrote:

Thanks for the response. For Merrick I got the Double Your Line Visa (pre-approved) but I've applied for pre-approved before and been declined lol. Gave me $900 will double to $1800 in 7 months with on-time payments. Chase Freedom gave me $500 after a longg recon. And $900 from Amazon. Barclays is my only "Amex" which is why I'm worried. Other than that I have:

 

Walmart: $900

Paypal: $500

Cap 1: $1200

Cap 1: $500

Cap 1: $500

Cap 1: $750

HSBC/Cap 1: $300

Wells Fargo (secured): $300

Barclays Amex: $1000

Target: $200


1.  **bleep** CAP1??? Have you sent to President for possible combine/CLI and rewards being added to 1 or all?

2. How long have you had Walmart and PayPal?

3. What is the cost of this new double credit line?

 

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Chase, Amazon & Merrick Cards


RebuilderCredit wrote:

 

Does anyone have an idea if they are going to close the cards I just got when they realize?

Or how my other other cards might be effected? 

Does anyone know if Chase softs regularly and if they are known to close accounts (like Barclays is)?

Do I call Amazon and ask they close the account before it reports?

 

Any help would be appreciated.

 

Equifax: 660

Transunion: 670

Experian: 680

4.5 year old bankruptcy

 


#1 they might AA/FR you later on after they observe a few months of spending & you paying back debt, since you have a prior BK. Rarely does anyone get FR right away after getting approval, though it has happened before.

 

#2 Barclays are very sensitive to new account sprees. You're most likely going to have problems with them. Not sure about CapitalOne, but I think you are fine for GE backed cards as long as you're paying them on time.

 

#3 they do soft pull regularly. If you have experian or equifax monitoring service you can see the soft pulls. Account closures and CLD can happen, but it really depends on what did you do. I think you are fine for now. Just don't owe huge balances on any cards and pay only minimum payment. This is usually the main reason why anyone gets AA for any card company.

 

#4 You can, but you already took the inquiry hit. They might be able to delete the tradeline like it never existed in the first place, but the inquiry is still going to be there. I don't think you need to do that, but its entirely up to you. If you don't shop at amazon much, then u can consider closing it, but if I were you, I would still keep it. 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Moderator
09Lexie
Posts: 24,583
Registered: ‎09-13-2012

Re: Chase, Amazon & Merrick Cards

I was approved for Chase on the 2nd and they have sp'ed 3x since. It looks like the day it was mailed, the day I activated the card and can't figure out the last one but its close to my statement cut off date.
New Visitor
RebuilderCredit
Posts: 3
Registered: ‎04-01-2013

Re: Chase, Amazon & Merrick Cards

Thank you for the responses. I'm just nervous, especially with Chase, that they are going to close the account as soon as it's opened and this was all for nothing. Barclays I have a balance with so even if they close it I figure I can pay on it for the next 6+ months, let these cards age, no new inquiries, and recon for a re-open. Chase is my first prime after bankruptcy so I don't want to mess it up!

Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Chase, Amazon & Merrick Cards


RebuilderCredit wrote:

Thank you for the responses. I'm just nervous, especially with Chase, that they are going to close the account as soon as it's opened and this was all for nothing. Barclays I have a balance with so even if they close it I figure I can pay on it for the next 6+ months, let these cards age, no new inquiries, and recon for a re-open. Chase is my first prime after bankruptcy so I don't want to mess it up!


i would be more worried about barclay's. it is very hard, and often impossible, to reopen a closed account for many reasons. very very seldom would a lender reopen a closed account.

 

i am not too sure how long you have to pay the remaining balance if they close your card, but if you drag that balance on, they might either send it to collections or regard it as a charge off, which will send your credit score dropping. 

 

i think you should be fine for chase now. just dont report really high balances on any card, or lots of balances on many cards, and definitely pay as much as u can, preferably PIF. 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Mega Contributor
Creditaddict
Posts: 18,951
Registered: ‎10-23-2007

Re: Chase, Amazon & Merrick Cards


enharu wrote:

RebuilderCredit wrote:

Thank you for the responses. I'm just nervous, especially with Chase, that they are going to close the account as soon as it's opened and this was all for nothing. Barclays I have a balance with so even if they close it I figure I can pay on it for the next 6+ months, let these cards age, no new inquiries, and recon for a re-open. Chase is my first prime after bankruptcy so I don't want to mess it up!


i would be more worried about barclay's. it is very hard, and often impossible, to reopen a closed account for many reasons. very very seldom would a lender reopen a closed account.

 

i am not too sure how long you have to pay the remaining balance if they close your card, but if you drag that balance on, they might either send it to collections or regard it as a charge off, which will send your credit score dropping. 

 

i think you should be fine for chase now. just dont report really high balances on any card, or lots of balances on many cards, and definitely pay as much as u can, preferably PIF. 

 


I would NOT worry about any of these cards! and if something better comes along I would NOT worry about these cards to the point you pass up others!

I admit that Barclay has had a TON of action on here about closing or CLD.... I have to say I did not have that experience... I opened 6+ GE Cards, Navy, and... after my Barclay and they did nothing! I even requested CLI at 6 months and they did not give but did not CLD or close.

 

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:
Frequent Contributor
Henchman21
Posts: 349
Registered: ‎02-16-2013

Re: Chase, Amazon & Merrick Cards

That IS an impressive number of Capital One cards!

2/16/13 Scores EX: 594, TU:513, EQ:563
Cap One Secured: $200, Kay's: $400

GOAL #1: 625

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