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Contributor
Sitori
Posts: 268
Registered: ‎10-25-2012

Re: Denied for Chase Freedom..advice please!

Wow. Good to know!

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EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

Re: Denied for Chase Freedom..advice please!


YahComb wrote:

 

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.


^ This is correct :smileyhappy:


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

Re: Denied for Chase Freedom..advice please!


YahComb wrote:

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.


+1.

 

I've had two Chase cards and I personally know they do not rely on FICO but on their own internal scoring method.

 

The truth is out there...
FICO scores: 740 (EQ) 738 (EX) 750 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015
Contributor
Sitori
Posts: 268
Registered: ‎10-25-2012

Re: Denied for Chase Freedom..advice please!

I took some peoples advice and applied for a Cap 1 card....my dumb*#$ applied for the cash rewards card bc I thought that was the one for limited history. Apparently it was the platinum visa?  So of course I got denied on the cash rewards and reapplied for the platinum and got the "Thank you. Approval status will be sent in 7-10 days."   I CANT DEAL!

 

I'm just done with the inquiries.. I probably have like 6 now.  I just wanted to get something to replace my FP so I could trash it but I guess I'm stuck for now


-------------------------------------------------------------------------------------------------
EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Established Contributor
YahComb
Posts: 592
Registered: ‎03-10-2012

Re: Denied for Chase Freedom..advice please!

capital one has two version of a few of their cards. There is a no fee version of the Cash Rewards-which is not for rebuilders or people with short history-and there is a 39AF version. If you went for the one with the $100 signup bonus, that was probably the no fee version

EQ-730(06/30/14) TU-758(06/19/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 7.5K | Disc It 9K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 2.92yr AAOA: 24.8 mo
Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

Re: Denied for Chase Freedom..advice please!

It would have been easier to go for the Journey, MTV Visa, or Cash Rewards for newcomers. The other cards in their line up are a little bit harder to obtain.

The truth is out there...
FICO scores: 740 (EQ) 738 (EX) 750 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015
Contributor
Sitori
Posts: 268
Registered: ‎10-25-2012

Re: Denied for Chase Freedom..advice please!

[ Edited ]

I applied for the Cash Rewards with the AF and it said it was for people with average credit. I read that it was a good starter card.  Then I applied for the Platinum MC (for average credit with limited history) after reading I should have applied for that one instead. lol. There's too many cards!!!!!  

 

Maybe when I get the letter in the mail they'll say something about the secured card.  Shrug. I don't want to lower my score anymore with inq's .  It was a 694 when I started this whole process and now it's a 663.


-------------------------------------------------------------------------------------------------
EQ 701, TU 685, EX ?
Wallet:
Amazon store $2500(10/12), Cap1 $1500 (10/12), Discover $1700 (11/1/12).
Valued Contributor
rootpooty
Posts: 1,713
Registered: ‎10-28-2011

Re: Denied for Chase Freedom..advice please!


distantarray wrote:

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


actually the equifax score sold here and scorewatch is the beacon 5 model

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!

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