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Letter from chase

Established Contributor

Letter from chase

Got my denial for a credit increase letter today. Reason for denial was your credit was recently increased. Ok, however it says at the bottom if you have additional information to share that would help us re evaluate this decision please call us and we'll be pleased to reevaluate it based on new or update information.
Funny thing is I called after the initial denial and they gave me the same reason and said about my school loans. Is it worth calling to try to get it. I'm sure they'll pull another report and I don't want to waste another inquiry..
Wallet: Barclay-5k, Citadel MC- 5k, Slate- 4k, Freedom- 3k, BOA- 3k, Citi- 2k, AMEXBCE- 2k and more...
Message 1 of 6
5 REPLIES
Contributor

Re: Letter from chase

You need to give Chase 6 months minimum after an increase, IMO, before requesting another increase. They are also very inquiry sensitive.

FICO 04 scores: 809 (EQ) 812 (EX) 818 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $58k - BMW Ultimate $40k
Chase Sapphire Preferred $62k - Merrill Lynch + Signature $41k - USAA Rate Advantage $28k
NFCU Flagship Signature $50k - USAA Cash Rewards AMEX $28k
Citi Platinum Select / AAdvantage Signature $31k - Chase Amtrak Rewards World MC $41k

Message 2 of 6
Senior Contributor

Re: Letter from chase


Elcid89 wrote:

You need to give Chase 6 months minimum after an increase, IMO, before requesting another increase. They are also very inquiry sensitive.


factors which adversely afffected my CHASE application score:

number of accounts opened  for more than 3 years  - only had 2

number of requests for new credit cards in the past 12 months - had 6 (double pull from Chase and Discover)

number of recently opened credit card accounts compared to the total accounts - 2 for 18yrs and 4 brand new ones  within 6 weeks !!

 

starting scores from my signature at application but CHASE own application score was 691 for above reasons. I guess I can be very lucky to have received the card. Smiley Happy

 

Knowing this now  I will make sure before apping for CSP in 2014 I will have no other inquiry  and wait until my scores are back up from my app spree.

Move the mouse over the cards for detailed view!
....Last HP 01 NOV 2016...............
Message 3 of 6
Contributor

Re: Letter from chase

They worry mainly about how many inquiries you have had in the previous 6 months, and to a lesser extent with how many you've had in the previous 12, but yes, 6 would be a red flag for them. It tells them that you are shoppign for credit and may be in financial trouble.  Your plan sounds like a winner.

FICO 04 scores: 809 (EQ) 812 (EX) 818 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $58k - BMW Ultimate $40k
Chase Sapphire Preferred $62k - Merrill Lynch + Signature $41k - USAA Rate Advantage $28k
NFCU Flagship Signature $50k - USAA Cash Rewards AMEX $28k
Citi Platinum Select / AAdvantage Signature $31k - Chase Amtrak Rewards World MC $41k

Message 4 of 6
Established Contributor

Re: Letter from chase

Chase likes history. I obtained The Freedom Card one year and exactly one year later a Chase Airlines Card, both instantly approved. My scores were around 760 for Tu and Eq.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico)XP 735 (FAKO)
Updated scores 05/01/17 EQ 824, TU 812 EXP 810 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience
Message 5 of 6
Established Contributor

Re: Letter from chase

My 6 months for my Disney and my year for my amazon chase (almost 6 months since last increase) are coming up in may. Ill try then or in June.. I'm gonna ask for 3000 on both. Shoot high , they'll always counter.
Wallet: Barclay-5k, Citadel MC- 5k, Slate- 4k, Freedom- 3k, BOA- 3k, Citi- 2k, AMEXBCE- 2k and more...
Message 6 of 6