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Denied for Chase Freedom..advice please!

Contributor

Re: Denied for Chase Freedom..advice please!

WOW. I just got my denial letter from chase and apparently my EQ score went down from 689 to 663!!  Just from that inquiry?? That's crazy


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EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Message 41 of 58
Valued Contributor

Re: Denied for Chase Freedom..advice please!

Chase uses an internal scoring method. The sheet they sent you probably wasn't really your FICO score. Who was the reporting agency on your papework?

As of 2017, rebuilding...
Message 42 of 58
Established Contributor

Re: Denied for Chase Freedom..advice please!

Sitori, did you get the Amazon visa or store version? Just curious.
Chap7 discharge 7/29/15
Fico 11/20: TR:595(high util)
Cap1(Plat+QS) 3500+2500/Merrick 1000/Express 1100.
Message 43 of 58
Valued Contributor

Re: Denied for Chase Freedom..advice please!


westo12 wrote:
Sitori, did you get the Amazon visa or store version? Just curious.

Most likely the store card. Amazon Visa is a separate application from the Amazon store card. And Amazon Visa is backed by Chase...

As of 2017, rebuilding...
Message 44 of 58
Established Contributor

Re: Denied for Chase Freedom..advice please!


maiden_girl wrote:

Chase uses an internal scoring method. The sheet they sent you probably wasn't really your FICO score. Who was the reporting agency on your papework?


I could be wrong but I think when you are denied credit or not given the best rate, the creditor is required to give you your actual FICO score, although your approval may be also based on other factors, ie. thier own internal scoring model.


Starting Score: TU 686 EX 641 EQ 690
Current Score: TU 779 EX 767 EQ 740
Goal Score: 800 Club

BCE $12.5K, 5/3 Sig $10K, Wally Discover 10K, Cash+ $9K Sam's Discover 10K, Freedom $6K, Zales $5.5K, More $5K, Cap one $5K, Barclay 2.5K, Household Plat $1.5K, Household Gold $1.5K, Credit One $1K, First Premier Plat $.675K First Premier Gold $.65K
Message 45 of 58
Contributor

Re: Denied for Chase Freedom..advice please!

I tore the letter up and threw it out bc I was so mad so I don't know what it said lol. I looked at the score and flipped out. It literally dropped from 684-663 .

I'm pretty sure I have the amazon store card, I didn't know there was a different one. Plus if chase is the provider I doubt I would have gotten approved since I got denied the Freedom. Lol

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EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Message 46 of 58
Established Contributor

Re: Denied for Chase Freedom..advice please!


Sitori wrote:
I tore the letter up and threw it out bc I was so mad so I don't know what it said lol. I looked at the score and flipped out. It literally dropped from 684-663 .

I'm pretty sure I have the amazon store card, I didn't know there was a different one. Plus if chase is the provider I doubt I would have gotten approved since I got denied the Freedom. Lol

lmao I can imagine you ripping it close to your chest like the hulk ripping off his shirt  Smiley Very Happy don't worry though if it's a FICO score that went down FICO is retarded in their reasons listed. There's a lot of underlying factors that changes your score and they list the dumbest thing. I had my credit score RISE from increasing my debt $10 over a dozen times.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 47 of 58
Contributor

Re: Denied for Chase Freedom..advice please!

HAHAHA yes exactly

I never knew there were 2 different scores. I thought your credit score was your credit score .the end. I need to read more lol

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EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Message 48 of 58
Established Contributor

Re: Denied for Chase Freedom..advice please!


Sitori wrote:
HAHAHA yes exactly

I never knew there were 2 different scores. I thought your credit score was your credit score .the end. I need to read more lol

There is over 100 different type of scores. And you can only BUY 1 real score technically.

 

MyFico.com and Equifax.com scorewatch gives you a Fico04 score which is what lenders pull over 95% of the time.

MyFico.com Fails on Transunion because they sell a Fico98 score which only Barclay is believed to still use. 

Walmart credit card GECRB will only get you Fico08 score but hey it's better getting a free Fico08 than paying for a Fico98 

 

With Experian they stopped allowing Fico to sell their scores, the ONLY way you can get your score without applying for things like Amex

is getting account for PSECU. You can not buy this ANYWHERE. 

 

Credit scoring is pretty stupid, I personally think it should be illegal to have companies make up a scoring system, then keep the scores away from you. Equifax is the only reliable company, and that's why most companies in Canada refuses to use anything but Equifax is what I've been told atleast by Canadian banking clients.

 

So EQUIFAX 04 scores OK (Free through DCU account I'll take it) !   Transunion 98 or 08 scores not bad.... but Walmart card = 08 is free I'll take it.  Experian..... PSECU I want XD


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 49 of 58
Established Contributor

Re: Denied for Chase Freedom..advice please!


JonStur wrote:

maiden_girl wrote:

Chase uses an internal scoring method. The sheet they sent you probably wasn't really your FICO score. Who was the reporting agency on your papework?


I could be wrong but I think when you are denied credit or not given the best rate, the creditor is required to give you your actual FICO score, although your approval may be also based on other factors, ie. thier own internal scoring model.


they're just required to send you the Agency used and score your approval/denial is based on. IF they choose to use something besides fico, the you're not gettin a fico.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Message 50 of 58