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Established Member
saggy1
Posts: 50
Registered: ‎07-26-2012
0

Chase CSP Denied ....APPROVED!!!!!

[ Edited ]

So I apped and got the 7-10 business day wait. I decided just to call the next day and ask what's up. I did, and the declined me due to too few revolving accounts and mainy none that have a 5k limit or more....I explained that I have two amex a discover and their freedom. I told her my internal limit on my amex is over 5k. She reconed me and said it was still a no go because I reported a $100 limit on the amex. False that is just what was on their when my statement cut. I explained I had just put and pif a $3k bill on there. She said that once that reported and they saw it ont there I would most likely be good to go. Cool I thought. I will just wait for it to report on CK, which means TU has it reported.....Today I checked and it updated.....BUUUTTTT.....it reported $0! FU** thats right! I paid in full two days before my statement cut. So the 3k that would have reported is now $0...

 

SO I thought I would be gtg, but I have a feeling I won't be able to talk my way out of this one. Running $3k is not normal for me so unless I start paying friends bills which would be a huge pain I won't be getting up there anytime in the foreseeable future.

 

Is there any explanation I can tell them you can think of? IM SO CLOSE

 

THX

 

 

*****I called back today and explained what I stated above. Along with the fact the balance should still report in some way. She put me on hold for 5 minutes came back and approved me for 5k.....AWESOME

 

THANK YOU FOR THE HELP GUYS/GALS

Senior Contributor
jsucool76
Posts: 3,670
Registered: ‎12-11-2011
0

Re: Chase CSP Denied - Best way to get approved?

You can always try a second recon? Do you happen to bank with chase at all, if so make sure you bring that up. 

>
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Chase CSP Denied - Best way to get approved?


saggy1 wrote:

So I apped and got the 7-10 business day wait. I decided just to call the next day and ask what's up. I did, and the declined me due to too few revolving accounts and mainy none that have a 5k limit or more....I explained that I have two amex a discover and their freedom. I told her my internal limit on my amex is over 5k. She reconed me and said it was still a no go because I reported a $100 limit on the amex. False that is just what was on their when my statement cut. I explained I had just put and pif a $3k bill on there. She said that once that reported and they saw it ont there I would most likely be good to go. Cool I thought. I will just wait for it to report on CK, which means TU has it reported.....Today I checked and it updated.....BUUUTTTT.....it reported $0! FU** thats right! I paid in full two days before my statement cut. So the 3k that would have reported is now $0...

 

SO I thought I would be gtg, but I have a feeling I won't be able to talk my way out of this one. Running $3k is not normal for me so unless I start paying friends bills which would be a huge pain I won't be getting up there anytime in the foreseeable future.

 

Is there any explanation I can tell them you can think of? IM SO CLOSE

 

THX


What other credit lines do you have?

 




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
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Moderator
Revelate
Posts: 9,645
Registered: ‎12-30-2011
0

Re: Chase CSP Denied - Best way to get approved?

There's no harm letting a balance report on an Amex under either of the FICO '04 or FICO '08 models which pretty much every large lender now uses rather than the older '98 version.  

 

Charge cards and some other FSA's / Signature style cards don't report a credit limit, and only the high balance gets reported.  For some lenders this means you actually need to let a high balance report for some month (ideally when you're not applying for anything) in order for FICO to use that in it's utilization calculations as not all will take the highest balance over the course of the month and post that... or in the case of charge cards, so that lenders can see that Amex actually trusts you with X amount on an internal limit even if FICO won't care.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Chase CSP Denied - Best way to get approved?


saggy1 wrote:

So I apped and got the 7-10 business day wait. I decided just to call the next day and ask what's up. I did, and the declined me due to too few revolving accounts and mainy none that have a 5k limit or more....I explained that I have two amex a discover and their freedom. I told her my internal limit on my amex is over 5k. She reconed me and said it was still a no go because I reported a $100 limit on the amex. False that is just what was on their when my statement cut. I explained I had just put and pif a $3k bill on there. She said that once that reported and they saw it ont there I would most likely be good to go. Cool I thought. I will just wait for it to report on CK, which means TU has it reported.....Today I checked and it updated.....BUUUTTTT.....it reported $0! FU** thats right! I paid in full two days before my statement cut. So the 3k that would have reported is now $0...

 

SO I thought I would be gtg, but I have a feeling I won't be able to talk my way out of this one. Running $3k is not normal for me so unless I start paying friends bills which would be a huge pain I won't be getting up there anytime in the foreseeable future.

 

Is there any explanation I can tell them you can think of? IM SO CLOSE

 

THX


If all they want to see is that you have put that much thru Amex, then if they pull your CR again, they will see that your "high balance" on that card is $3k. That ought to prove your point about the internal limit on your Amex.

 

Your "high balance" will report to the CRAs, regardless of the bal on the stmt.

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Contributor
pkhuu78
Posts: 101
Registered: ‎12-08-2011
0

Re: Chase CSP Denied - Best way to get approved?

in addition to what bichonmom stated, I don't know if you have looked at your CR or not, but Experian does infact report your monthly payment on each individual card on a monthly basis.  That would also shows you indeed used the card and have the ability to pay back.


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Established Contributor
cashnocredit
Posts: 1,028
Registered: ‎07-18-2009
0

Re: Chase CSP Denied - Best way to get approved?


pkhuu78 wrote:

in addition to what bichonmom stated, I don't know if you have looked at your CR or not, but Experian does infact report your monthly payment on each individual card on a monthly basis.  That would also shows you indeed used the card and have the ability to pay back.


this reporting by EX of payments made is fairly new. It's only a couple years old and not all banks do it. It's likely bank analytics don't use it either not to mention there is no chance FICO yet includes this info in its scores. Yet.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Established Member
saggy1
Posts: 50
Registered: ‎07-26-2012
0

Re: Chase CSP Denied - Best way to get approved?

Bump Got Approved!!!

Regular Contributor
ninjamike81
Posts: 208
Registered: ‎08-16-2012
0

Re: Chase CSP Denied - Best way to get approved?

congrats nice job

 


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Established Contributor
djrez4
Posts: 504
Registered: ‎08-28-2012
0

Re: Chase CSP Denied - Best way to get approved?


saggy1 wrote:

Bump Got Approved!!!


Congrats!  Important details?  Scores, income, goodies/baddies?


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