@B335is wrote:
@kdm31091 wrote:
Sometimes people can be too hasty to call recon if not instantly approved. Give it time. 7-10 days isn't always a denial. Even if you don't call they are reviewing your info. If you go with the process instead of pushing for an instant decision it can work in your favor.
Not everything can be "overcome". Policies are policies and underwriting is underwriting. No need to make it more complicated than it is. If your profile supports approval you'll get it. If you have a ton of new accounts maybe you won't.
I actually agree with this approach. For years people would immediately pick up the phone and ask for reconsideration versus just letting the process unfold. I say that as someone who's been one of those people seeking an immediate answer (instant gratification). There are always exceptions but I think calling only draws additional attention and scrutiny to ones' credit file.
That's all I was saying. No, it may not make the difference between approval or not but it surely could. I love this forum and the info it provides but it usually encourages a knee-jerk "call recon!" approach if not instantly approved. The point is that sometimes just letting the system do its thing can work out. Sometimes it makes no difference. Really, who knows, unless we work for Chase we can't say what the best approach is.
I just think that people should focus a little less on how to "overcome" policies...if you aren't constantly opening/closing accounts, if you don't have 20 recent inqs, if you maintain your accounts well....you will probably be fine! Not just Chase, but all lenders feel the same way about tons of recent accounts. It signals risk, period. No one is immune to that, though thicker files withstand more but it's not immunity from it. Again, the effect of a forum often causes people to forget that you still can't go crazy with accounts and still expect easy approvals (or approvals at all).
Instead of always wondering how you can skate the line and still "overcome" a policy, how about just calming down on apps and managing what you have? That will go much further for you than pushing for borderline approvals (ending in a 500 credit limit at 22.99% much of the time anyway). This isn't directed at anyone specific in the thread but just a general point. I have to take this advice myself, hence no apps anytime soon (probably not for at least a year) because I did open and close a few things in 2013/2014 and want my report to "settle down".
