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New Member
JL421
Posts: 7
Registered: ‎10-05-2012

Chase Freedom App - Denied - Recon Later

I applied for a Chase Freedom card on Monday, and got the 10 day review message. Yesterday I called the backdoor analyst number to see if they needed any additional information as I had moved recently. The rep came back and told me that I was denied because of high util on both my cards. I mentioned that that would be old information as I had paid my util down from 93% to 40% in the last month. She said I was welcome to call back any time in the next 30 days for a recon.

 

My credit profile on the 1st has a 628 TU FICO, 597 EQ FICO, and a 679 EX Plus score. It still shows me as having 93% util, 6 TU inquiries, 7 EQ inquiries, and 3 EX inquiries in the last year. My oldest account is a Cap 1 Platium with a $750 CL that is 2 years old, I also have a Citi Platium Select with a $1,600 CL that's 7 months old. AAoA is 0.9 years. I also have an installment loan with my bank for $2k that's 8 months old and has $540 left.

 

Basically I'm just trying to figure out what they are going to ask, and what I should say when going for a recon.

Valued Contributor
jsucool76
Posts: 2,770
Registered: ‎12-11-2011

Re: Chase Freedom App - Denied - Recon Later


JL421 wrote:

I applied for a Chase Freedom card on Monday, and got the 10 day review message. Yesterday I called the backdoor analyst number to see if they needed any additional information as I had moved recently. The rep came back and told me that I was denied because of high util on both my cards. I mentioned that that would be old information as I had paid my util down from 93% to 40% in the last month. She said I was welcome to call back any time in the next 30 days for a recon.

 

My credit profile on the 1st has a 628 TU FICO, 597 EQ FICO, and a 679 EX Plus score. It still shows me as having 93% util, 6 TU inquiries, 7 EQ inquiries, and 3 EX inquiries in the last year. My oldest account is a Cap 1 Platium with a $750 CL that is 2 years old, I also have a Citi Platium Select with a $1,600 CL that's 7 months old. AAoA is 0.9 years. I also have an installment loan with my bank for $2k that's 8 months old and has $540 left.

 

Basically I'm just trying to figure out what they are going to ask, and what I should say when going for a recon.


If you go in for a second recon with your util paid down, they will most likely repull you, as the report they pulled isn't going to update magically. 

Wallet: Capital One Cash Rewards 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 1286CL, Walmart Discover: 2000CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 2000CL, Citi Forward: 1500CL, Bank Of America Student Travel Rewards: 700CL
Established Contributor
migliogiorni
Posts: 657
Registered: ‎06-27-2012

Re: Chase Freedom App - Denied - Recon Later

will be another HP to pull the report and there's no garantee's even with your uti lower.  Best chances are to lower it more before getting another HP.  Might as well get it into the teens and app again.

 

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Frequent Contributor
Jake0215
Posts: 260
Registered: ‎11-10-2011

Re: Chase Freedom App - Denied - Recon Later

Geez, if this is true why didn't you just wait for your reports to update. At best you're looking at two pulls for a low limit card. 


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Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

Re: Chase Freedom App - Denied - Recon Later

I would wait and just reapply at a later date. If you RECONN within 30 days and your credit hasn't really improved much...you're going to waste another HP and its not guaranteed they are going to approve you. Pay down your UTIL...check your reports before you apply to make sure your credit is accurately reporting info then reapply.

The truth is out there...
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Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: Chase Freedom App - Denied - Recon Later

You could have them pull a diff report... That's what they did for me...
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New Member
JL421
Posts: 7
Registered: ‎10-05-2012

Re: Chase Freedom App - Denied - Recon Later

Ok, I've got my util down to 29% and my AAoA is now 1.1 years...Should I call the recon number where they'll do another hp, or just submit a new app?

Valued Contributor
Epcot
Posts: 2,777
Registered: ‎10-10-2012

Re: Chase Freedom App - Denied - Recon Later

[ Edited ]

I don't know if the balances you paid down would be showing up on your reports that way yet. You could try a recon and explain what has changed. I did that once several years ago and they just asked for my latest CC statement showing the balance change, then I was approved.

Edit- that was with a different bank though, not chase.


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

Re: Chase Freedom App - Denied - Recon Later

If you can get it below 20% i'd do the recon. Other than that, I'd pass on it.



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Regular Contributor
kwazziee
Posts: 148
Registered: ‎09-26-2011

Re: Chase Freedom App - Denied - Recon Later

I say wait and apply again at a later time when your utl is below 10%. This way you will not be getting a toy limit.


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