If you are declined then guess what? You sound like a sure fire YES with a human being... Believe me there are people in this world who don't make a 1/10th of what you make getting approved! On your reconsideration call: you are young and trying to start out in your life and want to make sure you have everything set up for when you need a mortgage later in life; you've been a loyal Chase customer with your checking and this is the next logical step aside from a car loan with your bank. I would also say that it wouldn't matter the line amount, that you just want a chance to prove that you would be responsible with it.
Trying to think of other things.. but really in a risk assessment, you'd be very low on the list, IMHO.
Welcome to the forum
Call the backdoor number and explain that you want to establish a long lasting relationship with Chase. If you have significant funds on deposit-talk that up. You wanted to make an informed decision when creating a credit profile and the best way is through the bank you have accounts with -since they know you do well.
You'll take any limit, you just want a chance to prove yourself.
Good luck.
Call the backdoor number and explain that you want to establish a long lasting relationship with Chase. If you have significant funds on deposit-talk that up. You wanted to make an informed decision when creating a credit profile and the best way is through the bank you have accounts with -since they know you do well.
You'll take any limit, you just want a chance to prove yourself.
Good luck.
Just call the number, and ask them to reconsider, (Number is listed in the backdoor number thread) explain your situation, and they should be able to help you, they might ask you to fax in information about income and what not.
What is your credit history??? any idea what your score is?? any secured cards?? any other CC's??? loans?? mortgage???
@eagle10 wrote:Hi all,
I just applied for a Chase Freedom card and am now regretting the decision, as I don't think I will be approved due to my lack of credit history. I have never had any sort of loan or line of credit and basically don't exist for the purposes of a FICO score. I have a checking account at Chase and was encouraged by a Chase rep to apply for the Freedom card, as she said it would be the easiest to get with no credit history and the rewards would fit well with my spending patterns. I now wish I hadn't applied, as the hard pull will be on my credit score for two more years and I will receive no attendant benefit. Assuming I am rejected, I would like to ask for a reconsideration. Can anyone share any tips on the best way to have my application successfully reconsidered?
Relevant information: I am a 25-year-old woman making $160,000 a year. While I don't have anything good on my credit history, I also have nothing bad (no late payments or outstanding balances, etc.).
Thanks for your help.
Since you have a banking relationship with Chase and they will be able to see the amount of your income I think you have a decent shot even without a credit profile. It may not be a huge credit line at first, but in this situation I believe your banking relationship will make a difference. Do you use a Chase personal banker? If so, I would speak with them about the recon. I would call Chase now and and follow-up on your application. There is no reason to wait. They may just need additional verification. The point you want to make with them is that you maintain X amount of dollars on deposit with Chase and you have been a Chase banking customer for X number of years.
@eagle10 wrote:Thank you for all the responses - the info on backdoor reconsideration is very helpful. Another question - will asking for a reconsideration cost me another hard pull on my credit file, or will using the backdoor number avoid this? Sorry to ask such basic questions; I have been using cash/debit my entire life, so I'm very new to the process of applying for credit.
@ac921ol - My credit history is basically nonexistent. I have never had a loan or credit card of any sort (including a secured card), so when I pulled my report from annualcreditreport.com (Experian), it had nothing to show other than the hard pull from this Freedom card application. I spoke to someone at myFICO.com in order to get my FICO score, and they didn't have a score for me due to my lack of credit history.
Chase may have pulled more than one report already. It is not really a recon until you are rejected. They may have put your application over for human review, since there was no credit history available. All the more reason to call now and follow-up on the application. They should tell you if they are going to do another HP during the recon.
Chase: 888-270-2127 (App recon)
I don't think it will cost you another HP because there is nothing to pull from what you stated. (But, of course, I may be wrong and others will correct me on this if I am. Try the number above and say that you were calling about the status of your Freedom application.
Please do update us when you've done this. I'm pulling for you! 