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Member
astrobuckeye
Posts: 12
Registered: ‎02-13-2009
0

Declined by Chase Recon failed too

My scores are EX: 747 TU: 772

 

I decide to apply for a Chase Freedom Card.  I only have one bank credit card and it is with my local credit union and CL is only 1000.

 

Chase pulled my Equifax and denied me.  Reasons... to many recent inquiries and my credit history is too short.

 

I have 2 inquiries in the past year, I got a security system installed.  I was annoyed when I saw that I was pinged twice, once by the installing company and once by ADT.

 

So I called the back door number to try and get a recon.  The lady says you have a lot of inquiries, and I asked how many she was seeing because I pulled my scores before applying.  And she's like 2 in the past year, but you had 6 inquiries last June.  I said yes, I'm aware I had a lot of hits in June because I moved and had to get all my utilities set up.   I said I wanted until July to apply because I though inquiries only stayed on your report for a year.

 

Then she said the bigger concern was that I had only had a bank credit card for a little over a year.  My credit history got started with a store card when I was in college.  Plus my mortgage is only a year old.

 

So I said I'm only 24, I graduated 2 years ago, I waited to get higher risk credit accounts until I was sure I could afford them.

 

Then I asked for a reconsideration, she was like I could process a reconsideration but I'm telling you I would deny it, you're credit history is too short.

 

The kicker is after I got off the phone, I saw I had also received offer letter for a Chase Slate Visa Card, saying I was approved.  The letters saying I was declined by Chase Freedom.

 

So I don't want to apply for any more credit lines for at least 6 months.  No point in racking up credit refusals.

 

Can any one recommend a good card to apply for next time round?  I'd like something with rewards but maybe that isn't possible until I'm 30 and all my accounts mature.

Regular Contributor
jj10939
Posts: 112
Registered: ‎03-09-2009
0

Re: Declined by Chase Recon failed too

Chase did you a favor, trust me.  They are the worst bank to do business with.  Their customer service is outsourced and the CSR's have ABSOLUTELY NO POWER to do ANYTHING with your account that you may benefit from.  In addition, IMO they have done nothing to show me they appreciate my business.  I fulfilled my end of the deal (paid on time, never over the credit limit, often paid in full) and all they did was raise fees on my account. 

 

If your score is a FICO score, then you should have no problems getting approved for a Discover card.  I got my Discover More card two years ago and I was only 18.  My jaw literally dropped when I was approved!  When I applied, I had an EQ FICO of 650 (two years ago I know, but if it helps, there it is).  It's a great card and by far my favorite.  The customer service is superior compared to other companies and their rewards system for 5% cash back changes throughout the year.

 

Citi is an OK bank to deal with.  I've heard they are inquiry sensitive so if you have inquiries that are recent, I might wait on them.  They give good initial CL and they are good at CLI's every six months.  I have the Diamond Preferred Rewards with 14.20% APR and I like it.


Stay away from BofA and Chase.  I've heard more complaints about them by far.  Let us know what you do and what happens!


Good Luck!

Epic Contributor
Creditaddict
Posts: 20,335
Registered: ‎10-23-2007
0

Re: Declined by Chase Recon failed too

American Express Charge card

Fico Scores: EQ- HATE U, TU 671 GE, EX 695 NASA(09-24-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Walmart $400
Over 45 Cards in between :smileytongue:
Established Member
mr814
Posts: 34
Registered: ‎07-24-2010
0

Re: Declined by Chase Recon failed too

I was declined too. I called yesterday for them to recon and they asked questions about my Util. They said they needed more history before they can offer me anything (my oldest card is 24 mo old). I believe they need to see my Util down.  I called back today and talked to someone else. SHe mentioned the results of the conversation I had yesterday and told me to call back later this month after my other cards post showing low utils.


Starting Score: 580
Current Score: 720
Goal Score: 800


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Member
astrobuckeye
Posts: 12
Registered: ‎02-13-2009
0

Re: Declined by Chase Recon failed too

Thanks for the advice.  I'll try Citi in 6 months.  I'm just tired of getting ripped on for having a young credit history.  I'm only 24 and have never made a late payment or defaulted or anything like that.

 

Is Amex worth it?  I just see so many places that just take VISA or MC.

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Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
0

Re: Declined by Chase Recon failed too

If you are (eventually) interested in AmEx, and you have short history, you'll probably do better to apply for a Zync. It seems tailored to younger consumers, and we've had lots of posts about approvals for those with short-ish history. After 6 months or a year, once they've gotten used to you, you can consider opening an AmEx revolver (Blue, CostCo, etc.), which will report a CL. Additional AE cards report the year that the first one is opened, saving the new account ding.

 

As for how many places take AmEx, the only important issue is whether the places you shop take AmEx. You might do a mental survey, just noticing the signs on the doors and cash registers where you normally go.

 

One card doesn't have to do it all. Most of us find that we use different cards at different locations, especially if they're rewards cards that give goodies at certain locations. For instance, my doctor's office and physical therapy site don't take AmEx, so I just use another card there.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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