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Chase Freedom denied.. Should I recon?

Member

Chase Freedom denied.. Should I recon?

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?

 

 

14 REPLIES
Moderator Emerita

Re: Chase Freedom denied.. Should I recon?

Valued Contributor

Re: Chase Freedom denied.. Should I recon?


09Lexie wrote:
What was the income?

+1??

 

A $65 obligation to a $0 income could be a major issue.  A $65 obligation on a $10,000/mo income is a non issue.  Need more info.

Starting a whole new chapter
Valued Contributor

Re: Chase Freedom denied.. Should I recon?

Always recon.



My Wallet:
WalMart: ||15k|| USAA Platinum MC: ||26k|| BCE: ||9k|| Chase Freedom Siggy: ||10k|| Discover it: ||6.5k|| SG Visa: ||11k||
USAA World MC: ||23k|| US Bank Cash+ Siggy: ||7.5k|| Citi TYP World MC: ||12k|| Barclays Arrival World MC: ||13k||Citi Double Cash World MC ||25k||Sallie Mae World MC ||18.8k||Fico Scores (3 Fico Monitoring): EQ 751,TU 749, EX 743. Last app: 9-12-14 Sallie
Moderator Emeritus

Re: Chase Freedom denied.. Should I recon?


Swapmeet wrote:

Always recon.


Smiley Happy  Yup.....

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Regular Contributor

Re: Chase Freedom denied.. Should I recon?


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?

AMEX True Earnings (14k) || Discover IT (10k) || Chase Sapphire Preferred (6k) || Chase Freedom (6k) || Citi ThankYou Preferred (6.3k) || GE CareCredit (4.9k) || Citi Double Cash (4.9k) || Sallie Mae (4k) || Best Buy (2k) || AMEX Blue Cash Everyday (2k) || Target REDcard (1.5k)
Super Contributor

Re: Chase Freedom denied.. Should I recon?


Shogun wrote:

Swapmeet wrote:

Always recon.


Smiley Happy  Yup.....


Don't agree with "Always"   If the card is a real stretch (so you are unlikely to be successful) and it the recon is likely to cause another HP (and if you can't "afford" it), then I wouldn't recon.

Member

Re: Chase Freedom denied.. Should I recon?


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

New Contributor

Re: Chase Freedom denied.. Should I recon?

7k a month or 7k a year?

Member

Re: Chase Freedom denied.. Should I recon?


PhoenixDown wrote:

7k a month or 7k a year?


Unfortunately, yearly.