Reply
Valued Contributor
Posts: 1,397
Registered: ‎08-30-2011
0

Interesting Rejection Response From Chase

Applied on line for Chase Slate Platinum Visa, got the proverbial message that application received and is being evaluated, response in 7-10 days.  Just got a rejection in the mail that said "You already have the maximum amount of credit we can offer you".  That came as a surprise, since I only have Best Buy/Chase with CL of $2200 (my smallest CL) with a current <30% UTI; never late on that account, in fact just paid it off, and charged a laptop on it, rest of my CR is squeaky clean, nothing derogatory at all, and in fact, scores have gone up since mid-August.  They pulled EX, but in the rejection, they did not indicate the score.  At the first of the month, it was 717, now it's 730 and not all of my paid accounts are showing as paid. 

 

So, I'm thinking about calling for a Recon, and if they balk at having 2 Chase accounts (which I can't imagine why they would), suggest to them that we close the Best Buy/Chase account and transfer to a Slate card with the current balance intact.  Alternatively, I may suggest to them that they do hard pulls of EQ and or TU for reconsideration, since those scores are currently 746 and 777. 

 

Any ideas or suggestions?  Is this a sound plan?

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 818 EQ = 822 TU = 830 - 01/2015
Frequent Contributor
Posts: 252
Registered: ‎01-10-2011
0

Re: Interesting Rejection Response From Chase

I would definately call for a Recon!  If they don't budge move on from Chase to someone else.  Chase is way too quirky!

Frequent Contributor
Posts: 455
Registered: ‎06-08-2008
0

Re: Interesting Rejection Response From Chase

 

In another thread, someone mentioned you can have up to 7 cards.

 

If you execute your plan, make sure you report back please and let us know how it worked out.

 

 

Valued Contributor
Posts: 1,397
Registered: ‎08-30-2011
0

Re: Interesting Rejection Response From Chase

Yup, actually I applied for Chase Sapphire at the same time, they rejected due to too many inquiries.  I sort of expected that, and expected that answer for Slate as well, rather than the answer I got. 

 

I have in fact, applied for, and been approved for AMEX Clear, AMEX Zync, Citi Diamond Preferred MC ($6800 CL) AND Discover More ($3600 CL), all in the past few weeks! The interesting part was that all except Citi pulled EX (I'm in Colorado), when I expected Discover to pull EQ or TU.  So there were 3 new inquiries for EX with the 2 AMEX and Discover pulling EX as well.  Figured Chase would reject just because of that.

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 818 EQ = 822 TU = 830 - 01/2015
Senior Contributor
Posts: 3,613
Registered: ‎01-10-2008
0

Re: Interesting Rejection Response From Chase

[ Edited ]

Not sure how Chase is with recon and nothing to lose by trying but, as you say, the fresh inqs (and accts when they report) may make them more than a bit nervous.

With the exception of Amex (under certain conditions) it can be a somewhat unlikely approach to app for multiple revolving products from the same issuer at once IMO, YMMV.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Valued Contributor
Posts: 1,271
Registered: ‎09-22-2009
0

Re: Interesting Rejection Response From Chase


thom02099 wrote:

Applied on line for Chase Slate Platinum Visa, got the proverbial message that application received and is being evaluated, response in 7-10 days.  Just got a rejection in the mail that said "You already have the maximum amount of credit we can offer you".  That came as a surprise, since I only have Best Buy/Chase with CL of $2200 (my smallest CL) with a current <30% UTI; never late on that account, in fact just paid it off, and charged a laptop on it, rest of my CR is squeaky clean, nothing derogatory at all, and in fact, scores have gone up since mid-August.  They pulled EX, but in the rejection, they did not indicate the score.  At the first of the month, it was 717, now it's 730 and not all of my paid accounts are showing as paid. 

 

So, I'm thinking about calling for a Recon, and if they balk at having 2 Chase accounts (which I can't imagine why they would), suggest to them that we close the Best Buy/Chase account and transfer to a Slate card with the current balance intact.  Alternatively, I may suggest to them that they do hard pulls of EQ and or TU for reconsideration, since those scores are currently 746 and 777. 

 

Any ideas or suggestions?  Is this a sound plan?



I don't believe that Chase will PC a co-branded card with one of their branded ones.

EQ FICO - EQ08 - 850 - 01/01/15
TU FICO - TU08 - 850 - 01/01/15
EX FICO - EX08 - 850 - 01/01/15
EX FICO - V2 - 840 - 01/01/15
EQ FICO - EQ04 - 818 - 01/01/15
EQ FICO - Bankcard Enhanced 8 - 885 - 1/24/15
Regular Contributor
Posts: 191
Registered: ‎03-23-2011
0

Re: Interesting Rejection Response From Chase

best buy is hsbc and they are selling it to capital one

always use credit wisely and you won't ever feel like you're working just for the task master
Regular Contributor
Posts: 219
Registered: ‎06-17-2011
0

Re: Interesting Rejection Response From Chase

Chase will give you a maximum amount of credit that they are comfortable with, but there is no limit on the number of cards. What they will very likely do if you call the backdoor is split some of the credit off your other card and put it on a new card 9for instance drop the CL on your current card to 1200 and give you the new card with a 1200 CL). Don't know if this is a good option for you but if they deny on the reconsideration it is something you could ask for and then shoot for CLI in a couple of months.

Valued Contributor
Posts: 1,413
Registered: ‎01-20-2008
0

Re: Interesting Rejection Response From Chase

[ Edited ]

thom02099 wrote:

Applied on line for Chase Slate Platinum Visa, got the proverbial message that application received and is being evaluated, response in 7-10 days.  Just got a rejection in the mail that said "You already have the maximum amount of credit we can offer you". 


This may be a bit different ... I have 3 ccs with Chase and requested CLI, then got same excuse.  What they told me is I already have total CL of 23.6k along with them and more with others.  By Debt to Income %  ... they won't approve me for CLI.   So, I requested to shift 2k from one to another, then they did it for me.

 

I don't know your financial status is ... if your income is not enough for them to approve, may be the same reason.  Not sure ...

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Valued Contributor
Posts: 1,397
Registered: ‎08-30-2011
0

Re: Interesting Rejection Response From Chase

[ Edited ]
"best buy is hsbc and they are selling it to capital one"
 
Best Buy is HSBC and Chase.  My account was an old Circuit City account that ported over by Chase to Best Buy when Circuit City went under.  When you go to the Best Buy site to pay bills, there's a choice between HSBC and Chase. 
 
I know that Chase is very conservative in their practises.  I got a CLI from them from $1500 to $2200 on my Chase/Best Buy account.  That's my smallest
CL of all my accounts.  I'm thinking in agreement with others that they may do the split thing on my account, but I'm going to push for just a recon on the Slate card,and say "to heck with the Sapphire"! .  My revolving credit debt right now is around $700 on all my accounts, UTI <1%,  my installment accounts are around $22K, auto loan soon to pay off in 2 months,and  my income is in the $60-$70K range with household income over $90K.  When I chatted with a Chase rep on line, he seemed to think I had the ideal profile for a Chase customer.  I guess we shall see!  
 
 
Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 818 EQ = 822 TU = 830 - 01/2015

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.