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New Visitor
poet2013
Posts: 1
Registered: ‎01-23-2013

Chase Freedom Recon experience...

FIrst of all I would like to thank you all for reading my post. Ive been  lurker here for a short while.  Anyway  I got the 7-10 message. I called app status # I pressed zero to speak with an associate to & then req to speak with someone for a manual review.  I adv her of inquires due to car shoppingg & job hunt last year. She was nice but I still denied me to the heavy use of my line of credit,$5900 of $6000. Silly me didn't think to adv her that part of the heavy use was trying to fix my old car. Other were from trying to get away from creditone,first premier,etc.  I decide to try again today by calling the app recon# 888-270-2127.  The next person wasnt so pleasent . She was rude & barley let my got a word in. I could already tell where it was heading by the sound of her voice as soon as she answered. First words out of hear mouth were "you called in already. You were denied due to use high credit use & seeking too much credit"  By the way my equifax score was 637 from car shopping.

Established Contributor
FutureBillionaire
Posts: 626
Registered: ‎12-12-2012

Re: Chase Freedom Recon experience...

I think there are some other things going on besides car shopping.  You need to look at your report and see what else is affecting it.

Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward,
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape
Established Contributor
eviLution
Posts: 704
Registered: ‎06-11-2012

Re: Chase Freedom Recon experience...

I would never apply for new credit when my current line is already maxed out. it just shows I'm desperate for credit and I rather not waste an inquiry, but that's just me.


Current Score: DCU EQ 714 - EX+ 746 - WM TU 746
Goal Score: 750+

DCU Platinum: 4000 - Discover IT: 11000 - Walmart: 5000 - AMEX BCP: 6000 - Chase Freedom: 5000
in the garden since 1/24/14 - #GARDENSTRONG
Valued Contributor
ryanbush
Posts: 1,293
Registered: ‎08-19-2012

Re: Chase Freedom Recon experience...


eviLution wrote:

I would never apply for new credit when my current line is already maxed out. it just shows I'm desperate for credit and I rather not waste an inquiry, but that's just me.


At this point you need to worry more about paying down your debt then adding to it....

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Established Contributor
eviLution
Posts: 704
Registered: ‎06-11-2012

Re: Chase Freedom Recon experience...

Exactly.

Current Score: DCU EQ 714 - EX+ 746 - WM TU 746
Goal Score: 750+

DCU Platinum: 4000 - Discover IT: 11000 - Walmart: 5000 - AMEX BCP: 6000 - Chase Freedom: 5000
in the garden since 1/24/14 - #GARDENSTRONG
Established Contributor
ObeyJohnny12
Posts: 591
Registered: ‎05-05-2012

Re: Chase Freedom Recon experience...

Whats hurting your chances is your high utl.
When banks see high debt they are less than likely approve you for anything.
Pay it down first and then see if you can recon.
Gardening Since: March 4, 2013.
In My Wallet: Chase: Freedom Visa Signature | Sapphire Preferred World Mastercard. |
Established Contributor
kobe2012
Posts: 690
Registered: ‎03-16-2012

Re: Chase Freedom Recon experience...


ObeyJohnny12 wrote:
Whats hurting your chances is your high utl.
When banks see high debt they are less than likely approve you for anything.
Pay it down first and then see if you can recon.

+1


Starting Score: TU: 598 03/23/2012 EQ:607 05/24/2012 EX:607 04/26/2012 (lender pull) EX FAKO:522 03/2012
Current Score: TU(Myfico)04/2013:689 EQ(Myfico)04/2013:701 EX(AMEX pull)04/01/2013:675 (CreditSecure FAKOS) 5/14/2013 EX:726 EQ:701 TU:730 TU(Walmart):699
Barclay Rewards:5k/Cap1:$3.5k/Cap1:$2.5k/Citi TYP:2k/Freedom:$5k/Slate:3k/Marriott visa sig 5k/BCE:$1k/Zync: $500 PSL/Discover IT:$1.9k/Walmart:$8k/Chevron:$5k/Gap:$5k/Kay:$3.4kk



Valued Contributor
p-
Posts: 2,539
Registered: ‎06-05-2008

Re: Chase Freedom Recon experience...


kobe2012 wrote:

ObeyJohnny12 wrote:
Whats hurting your chances is your high utl.
When banks see high debt they are less than likely approve you for anything.
Pay it down first and then see if you can recon.

+1


Yup.

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL

Established Contributor
bettercreditguy1
Posts: 738
Registered: ‎02-11-2012

Re: Chase Freedom Recon experience...

+1. If you are already near maxed out on your cli, who would want to give you more? The time to get credit increased is when you do not need it and everything else dti, utilization, charge offs, etc. are all in the excellent range. You are sending fire signals, not smoke. They see somebody who has desparately spent more than they can afford. Remember, they also see all of your payment amounts and past balances. Are you pif each month or carrying a balance with them? What about your other cards? You do not mention the rest of your credit report either.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Valued Contributor
p-
Posts: 2,539
Registered: ‎06-05-2008

Re: Chase Freedom Recon experience...

Adding to all of this -

 

The recon analysts can be a great resource into what all of your credit card companies think when they see your report.  I learned a bunch from a Chase Analyst after being denied for CSP.  She told me that the main hold up was the number of new credit accounts I had less than a year old, and that they would rather see at least a year of history on those accounts before extending me any new credit to see how I handled the larger responsibility.

 

Later, when I talked to another Chase Analyst about a limit increase, she mentioned that my habit of paying in full every month was positive, and was happy to approve an increase from 5k to 10k. 

 

Now, I make sure all of my cards are paid in full each month, and wait to ask for increases until I reach benchmarks on all accounts like 1 year plus. 

 

These analysts look at patterns.  Most people whose cards are at the limit all of the time, if given a higher limit will just run it up to that.  Eventually, they will be slaves to the high minimum payment, never pay it off, and any blip in finances will cause default.  That may not be you, but to the analyst you look just like them. 

 

Instead of being frustrated with what you hear from the Analyst, use the information to improve your chances next time.  Pay all cards in full every month, and in six months app again.  Make sure only one card shows a balance, and your overall utilization is around 3% for all cards.  You will have a better result.

 

Good luck!

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL


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