01-10-2013 07:46 AM
I'm in the rebuilding process and waiting for negative accounts to age off . Current scores are 674,676,667.
I've had a couple Chase accounts that were charged off 6-7 years ago.
Will I be able to get a Chase credit card in the future, such as the United Mileage Plus card, or since I didn't pay those and they were charged off, I'm "black-listed" forever?
01-10-2013 07:56 AM
In my case in college I had a card that was charged off and went into collections. I paid it off 5 years ago. Since then I've really been working on my scores. . A couple of months ago I applied for the freedom card and was initially denied, did a recon and explained myself and was approved for $3500. Although it wasn't on my report, they did have internal knowledge of the charged off account. YMMV
01-10-2013 07:59 AM
01-10-2013 08:03 AM
I'm going to wait a little bit, in the process of buying a house now, so it'll be 6-12 months before I apply for the card at which point my scores should all be 700+ but my main concern is having derogatory accounts wtih Chase in the past. I actually had two Chase accounts that got charged off/sold off (one was an Amazon.com Chase card, another a Washington Mutual which then got bought out by Chase).
01-10-2013 08:09 AM
As was mentioned before, you're likely going to be auto-declined initially and you'll need to recon. If you have a solid case as to why they should trust you again or your situation has changed since the COs, they may recommend you for approval.
01-10-2013 08:48 AM - edited 01-10-2013 08:52 AM
I also have a Chase CO, and it has always held me back from instant approvals. The reason given in the written decision would always include " Past Derogatory Relationship With Lender"
When I've called for recon however, they have actually given me other reasons as to why they can't approve me as if they really would even with the CO.
For example "I see you have excellent payment history since that one bad account with us....but I just can't push you through today until your other accounts reach a year."
So I would just wait until your reports are in the best possible shape before you pull the trigger.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.