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Hi Everyone. I just joined myfico and here my first post.
I recently got my first Credit card in January 13 with BOA 123 Secured card, Limit $500. I then got DCU-Platnum VISA, no rewards-$3000, Discover IT for $750, CapOne for newcomers with $500. Then I got too much excited, applied for Penfed Cash rewards and got declined. Two weeks before applied for CLI with BOA and product change for unsecured- Got declined for Thin File. Last week when I was browsing through CHase website, i checked for prequalified offer and it said I was prequalified for CHase freedom and slate. I went to bank to enquire about it and rep said that I have a very good chance of approve for freedom since I was prequalified. But I got declined saying that too many recent Inquiries. Is there anything I can do guys. Please help me. I recently found this forum, today morning and looks like it has very useful information and people helping each other with advice.
My Credit Karma Score is 698.
My Experian and Equifax score is Non-scorable because of Thin file.
call Chase: 888-245-0625 (Credit Analyst - Recons) and try to recon tomorrow.
chase usually wants 1 year minimum credit history for most people, but since you already took the inquiry hit, might as well recon and try to get approved. Best of luck!
Welcome to the forum
Recon if you can explain INQ's
Thanks for advice guys. I do have chase account. I bank with them for more than 2 years. 3 years in August 2013. I want to know what are the possible questions they can ask me? I really wanted to have chase CC because its a nice card with good rewards, and CHase being my primary bank, easy for me manage my card and payment..
@fearlessdragon wrote:Thanks for advice guys. I do have chase account. I bank with them for more than 2 years. 3 years in August 2013. I want to know what are the possible questions they can ask me? I really wanted to have chase CC because its a nice card with good rewards, and CHase being my primary bank, easy for me manage my card and payment..
They will likely ask you a variety of questions stemming as to why the recently opened new accounts (<6 mos) - they may see what you have as sufficient for starters... or the reason for so many inquiries (they may see this as a possible overextension in such a short period of time), they may also ask as far as utilization (as applicable), your income, etc.
An item to keep in mind, pre-qualification does not always translate into an approval. And, not to dash any hopes for getting this card; however, the odds don't look favorable. Admittedly, your file is thin and fairly young from a credit standpoint. However, all is not lost. If you do not get approved, you will at least know where you stand and how to improve your chances for getting this card in the future by gardening what you currently have. Otherwise, if you do get approved, it will likely be a very small CL ($500 minimum). Good luck.
@fearlessdragon wrote:I have a chase account. I bank with them for more than 2 years. 3 years in August 2013.I really wanted to have chase CC because its a nice card with good rewards, and CHase being my primary bank, easy for me manage my card and payment..
That all sounds like a great recon conversation to me. Just tell them like you told us. Best of Luck!
@BrokaToe wrote:
@fearlessdragon wrote:I have a chase account. I bank with them for more than 2 years. 3 years in August 2013.I really wanted to have chase CC because its a nice card with good rewards, and CHase being my primary bank, easy for me manage my card and payment..
That all sounds like a great recon conversation to me. Just tell them like you told us. Best of Luck!
Yes, great recon material.
Explain that you want them to be your primary bank, and without the credit card that can't happen.
I called the recon number for chase and they said the same thing - Too many open accounts in the 6 months and no history. As I posted earlier, I was declined for product change and CLI increase for my BOA secured card. I called their recon number and they approved me. Got Unsecured BOA 123 card with $2000 CL. Thanks for your advice guys..