10-22-2012 08:08 PM - edited 10-25-2012 09:50 AM
I jumped the gun and apped for the CSP last night. I got the 7-10 message - no surprise there. I waited until this afternoon to call the backdoor number to see what the status was. The analyst cited high inquiries as my only negative. He also States that without Chase my highest limit would be 1500 from Discover. At this point I said thanks for your help, I never asked for a recon and he didn't offer.
Tonight after dinner I call the backdoor number again to plead my case except this time I asked for a recon. He was citing nothing but high inquiries the whole time. I ask for a recon and he places me on hold for 3 to 5 minutes. He does not have the good news that I am used to hearing. He basically told me that my 20+ inquiries were hurting my chances of an approval. So I thanked him for his consideration and promptly hung up the phone.
Now, I've heard of people calling and calling and calling until they get an approval. I don't want to be that guy. I do not however want to waste an inquiry.
Can you guys talk me into calling once more tomorrow and possibly give me some tips for explaining away inquiries? They are all non-morgage and non-auto loan inquiries. A lot from damn Cap and the 3-bureau CLI requests
10-22-2012 08:13 PM - edited 10-22-2012 08:17 PM
I don't want to burst your bubble here.
Chase only pulls one CRA, that means you have 20 inquiries on whichever agency they pulled from. They pulled Experian for me (and most people it seems like), but Equifax pulls are quite common also. While Capital One does pull all three agency, it's one hit on each.. not all three on the same one.
That, and CSP minimum is a $5000 CL, odds of you getting approved are fairly astronomical if your highest limit at this point is $1500.
I don't know if you want to attempt a recon after hearing that, but since you took the hit, you may as well attempt it one more time.
EDIT: Wait, you have a $9000 limit on one card, I would definitely bring that up, Definately would not hurt to attempt a recon. But 20 inquiries is a lot nonetheless.
EDIT Again >.>: He speciflly said that besides Chase, thie highest would be $1500? That's peciular.. I'm no expert, maybe someone else could chime in here with their experiences with Chase recon. I personally reconn'ed twice for the Freedom, they didn't give me a specific reason why I was denied the first time around though.
10-22-2012 08:14 PM
Chase pulled two on me. EX and EQ
10-22-2012 08:34 PM - edited 10-22-2012 08:36 PM
Thanks for the advice guys. IF SOMEONE has a number or name other than the main recon number listed on the backdoor thread a PM would greatly be appreciated. The CSP is the last and final card that will finish off my lineup so I do really want it. Thus I'm willing to devote a decent amount of time to securing an approval.
10-22-2012 08:35 PM
I rang three times and no go unless I moved credit which I did not want to do, so I missed the $500 . Anyway, you could try lowering the JP Morgan Select to 5000 and the Freedom to 1000; that would make up the 5000 needed to obtain the Chase Sapphire Preferred.
I think it really weird that the inquiries reason varies so much. I have a lot and have never really had a problem with getting a card or an increase because of them.
10-22-2012 08:35 PM
Just remember, every time you have an encounter its noted. They'll see that you've called twice and were specifically denied once. I guess 3 times calling isn't extreme, but if you do call again and get denied, I'd leave it alone. Its also possible (although unlikely) they'll snoop around and maybe not like what they see, and in addition to your CSP denial, you'll get an unwelcome CLD. (Not saying its likely at all, but whenever you get someone manually reviewing reports this is possible)
10-22-2012 08:37 PM
10-23-2012 02:33 AM
You really should wait until those INQs wear off. 20 is way too high and I don't think they'll budge on that.
Pulled eq&exp for me. Took me two recons to get approved for a $5k Chase Freedom :-) 20+ inqs is a heck of a lot :-/
10-23-2012 04:58 AM - edited 10-23-2012 04:59 AM
Chase didn't pull my credit initially and I applied for 2 chase cards a few days behind each other. On my CR, I only have one inquiry. The first card I applied for, no pull. The second, a hard pull. It was really weird. Chase used an internal scoring system the first time around. I think its all YMMV kind of thing. They pulled Experian for me.
I would call Chase up again and request another recon. Explain the reason for all the inquires and pray! Don't take a HP for nothing!