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Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Chase Freedom denied.. Should I recon?

Do you have other loans, such as auto, mortgage, student loans, or anything else that you are basically obliged to make monthly payments on?

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Mega Contributor
coldnmn
Posts: 11,197
Registered: ‎08-08-2011

Re: Chase Freedom denied.. Should I recon?

Some credit cards have a minimum income like $15000 a year. Student cards require  a smaller income. That may be the problem.

My Wallet /US Bank Cash+ Signature $10,000/ Ace US Bank $10,000 / Sam's Mastercard $8000
/ Walmart Discover $8000 / Discover IT $5000 / Care Credit $5000
PayPal SmartConnect $4800 / Cap1 Quicksilver $4000 / Barclay Ring $3550
Last App 10/25/13 /
Community Leader
Valued Contributor
azguy13
Posts: 5,375
Registered: ‎04-30-2013

Re: Chase Freedom denied.. Should I recon?

If you already have the HP then there is nothing to lose on a recon




NFCU Flagship $25,000 I AMEX SPG $23,000 I Chase Sapphire Preferred $17,500 I Discover IT $12,000 I
Member
Vaetrian
Posts: 11
Registered: ‎07-20-2013

Re: Chase Freedom denied.. Should I recon?


enharu wrote:

Do you have other loans, such as auto, mortgage, student loans, or anything else that you are basically obliged to make monthly payments on?

 


Nope, I've got none of those, not even rent as I still current live with my parents.

Regular Contributor
manwoot
Posts: 242
Registered: ‎02-16-2013

Re: Chase Freedom denied.. Should I recon?


Vaetrian wrote:

manwoot wrote:

Vaetrian wrote:

Hello,

 

You guys might remember me from this post http://ficoforums.myfico.com/t5/Credit-Cards/Advice-on-Cap1/m-p/2308419#M649748 looking for a cashback no FTF card, and the advice was to apply for Discover. However, due to not having enough income and not a student, I was not able to apply for it.

 

I've decided that I was going to look for a different card, this time just for cashback and having no FTF would be an extra. I went and apply for the Chase Freedom got a pending review and today just got my denial letter. I was denied because of

 

"Current obligations too high relative to income"

 

When I applied, I had these as my balances

Cap1 Platinum 65.79/1250

Cap1 Playstation 0/500

 

Should I attempt to recon? or just let it go?

 

 


Is that what your balances were when you applied or what had been reported to the CRAs when you applied?


It's the balance when I applied, it hasn't been reported to the CRA yet.

 

As for the income it's 7k with no loans, mortgage and rent


What balance had been reported to the CRAs?

AMEX True Earnings (11.5k) || Discover IT (9k) || Chase Sapphire Preferred (6k) || Chase Freedom (5k) || Citi ThankYou Preferred (4.9k) || GE CareCredit (4.9k) || Sallie Mae (4k) || Citi Diamond Preferred (3.4k) || Best Buy (2k) || AMEX Blue Cash Everyday (2k) || Target REDcard (1k)

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