Reply
Frequent Contributor
wndrwmn78
Posts: 256
Registered: ‎04-16-2009
0

Please help! Called for Chase recon and was transferred to Customer Service...

[ Edited ]

This morning I called the backdoor number for Chase to do a recon on my CLI request last week...because I'm an existing customer (2 1/2 years), they said they would transfer my call and I ended up with customer service. They were going to put in a request for me the same way they would normally do it, so I declined, knowing that if customer service had just denied me last week, they would deny me again.

 

Okay, so when I call the backdoor number (1-800-245-0625), what do I need to say to ensure that I speak with a credit analyst, and not customer service??
Message Edited by wndrwmn78 on 04-23-2009 07:19 AM

Starting Score: 670 EQ and 674 TU
Current Score: 670 EQ and 674 TU
Goal Score: 750 both EQ and TU


Take the FICO Fitness Challenge
Frequent Contributor
wndrwmn78
Posts: 256
Registered: ‎04-16-2009
0

Re: Please help! Called for Chase recon and was transferred to Customer Service...

Nobody responded, but just as an FYI to anyone who's interested, when I called back I made sure to state that I wanted to speak to a credit analyst. When they confirmed that I was a current account-holder, I said yes but repeated that I needed to speak to an analyst for reconsideration. They were very nice in transferring me to one.

 

Unfortunately, the analyst again denied me for a CLI. The reasons were too high utilization (I'm at 39%) and too many inquiries (about 10 the past 12 months). I asked her if she could reconsider those reasons and allow me to give more information, but she basically just said, "No, I have to go by what's on your credit report."

 

Given my utilization and number of inquiries, should I accept it, or do you think I should try again? Other than those two reasons, there are no negatives at all on my reports.

 

I began rebuilding my credit about 3 years ago, but only in the past few months have I come to understand more about good credit, in that it's not just based on a clean history. (Sometimes it feels like I get no love for that whatsoever.) It's still very nerve-wracking for me to actually speak to someone about my credit!


Starting Score: 670 EQ and 674 TU
Current Score: 670 EQ and 674 TU
Goal Score: 750 both EQ and TU


Take the FICO Fitness Challenge
Moderator Emerita
LilMirth
Posts: 3,091
Registered: ‎08-09-2008
0

Re: Please help! Called for Chase recon and was transferred to Customer Service...

I think you have absolutely nothing to lose by calling again. If you've already taken another INQ for the request, you might as well bug them a bit. Good luck!

-------------------------------------------


Friendly, Supportive & Respectful


Understanding Your FICO Score  |  Credit Scoring 101  |  Common Abbreviations  |  FTC: FCRA Links  |  FTC: FDCPA Links  |  Opt-Out  |  State Resources


"However gradual may be the growth of confidence, that of credit requires still more time to arrive at maturity” ~ Benjamin Disraeli

Frequent Contributor
wndrwmn78
Posts: 256
Registered: ‎04-16-2009
0

Re: Please help! Called for Chase recon and was transferred to Customer Service...

Thank you for the support! I agree I have nothing to lose - like I said it's just still nerve-wracking for me to talk about my credit, even with it being good, so I have no idea how to sell myself when they're telling me what they consider negative. Any suggestions on how to explain that my inquiries have been completely from trying to increase my credit for my rating, not to overextend myself? I know that 39% is high for utilization, but I really do not have a lot of used credit - the main problem is that my limits are so low (at $1000 Chase is my highest, other than Dell). Of course I'm paying my balances down, but a good CLI would drop that percentage way down.

Starting Score: 670 EQ and 674 TU
Current Score: 670 EQ and 674 TU
Goal Score: 750 both EQ and TU


Take the FICO Fitness Challenge
Moderator Emerita
LilMirth
Posts: 3,091
Registered: ‎08-09-2008

Re: Please help! Called for Chase recon and was transferred to Customer Service...

Maybe you could tell them that you didn't really understand how credit worked when you first endeavored to establish a solid credit history. Tell them that someone told you to App for everything, and you found out too late that it was a bad plan. Then, tell them that you LOVE your Chase card with a capital "L", and that you'd like to utilize it more. Make sure that you emphasize that you have adequate income. Maybe mention that you want a card that you'll be able to use when you travel.

 

To be honest, I think it's going to be a problem with the utilization. By today's standards, that might be high enough to make them nervous. Do you have balances reporting on more than one card? If so, be prepared to answer why fairly low balances are not PIF'd.

 

If they still say no, and a higher credit line is what you're after, look into a credit union. How many of those INQs are on EQ? How many new accounts have you opened in the past year? Alliant CU has great rates, and nifty offers on their credit products.

-------------------------------------------


Friendly, Supportive & Respectful


Understanding Your FICO Score  |  Credit Scoring 101  |  Common Abbreviations  |  FTC: FCRA Links  |  FTC: FDCPA Links  |  Opt-Out  |  State Resources


"However gradual may be the growth of confidence, that of credit requires still more time to arrive at maturity” ~ Benjamin Disraeli

Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: Please help! Called for Chase recon and was transferred to Customer Service...

I doubt you'll have any luck with further recon and I would hope you didn't take a hard on this last phone call. 39% U is too high esp. in this climate. 10 inquiries is a lot. Problem with these companies is they like to loan money to people who appear as if they don't need it. With 10 inquiries and 39% U it looks like you might need it. Might be true or not but they are getting stingy. I would lay low pay off your cards and try again once some of these inquiries age over a year.
Frequent Contributor
wndrwmn78
Posts: 256
Registered: ‎04-16-2009

Re: Please help! Called for Chase recon and was transferred to Customer Service...

Thank you both for your responses! I agree that I probably won't get a recon. I'm currently planning to refinance my FHA mortgage, saving about $150 a month, so maybe I'll start using that savings to pay down the cards. I have half of my cards showing balances, so I'm sure you're right that that's hurting me also. I think I can manage to lay off the inquiries for a while until I am certain that my credit is indeed good enough for an increase. :smileyhappy:

 

Question about the inquiries - is it true that creditors will only look at the number within the past 12 months? If they stay on for 2 years, how will I know that they are not affecting me anymore?

 

I guess I'm just frustrated with myself that for the past few years I thought I was doing everything right, with getting new credit and keeping a clean history. Now I know that I've actually been hurting myself by not just letting these accounts age gracefully. It's hard to see posts where people with collections and late payments are being approved for $5000 credit lines - and here I am paying my bills like I'm supposed to and it's not good enough. :smileysad:


Starting Score: 670 EQ and 674 TU
Current Score: 670 EQ and 674 TU
Goal Score: 750 both EQ and TU


Take the FICO Fitness Challenge
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Please help! Called for Chase recon and was transferred to Customer Service...

[ Edited ]

wndrwmn78 wrote:

Question about the inquiries - is it true that creditors will only look at the number within the past 12 months? If they stay on for 2 years, how will I know that they are not affecting me anymore?

I keep reading that lenders really look at the last 6 months' worth. FICO scores on the last 12 months' worth, and as you say, they display for 24 months. My guess is that lenders are looking for both patterns and out-of-pattern behavior. For instance, if you had one inq 10 months ago and nothing else within the past year, but you had 30 inqs on one report the previous year, they're going to be curious as to what on earth was going on. Remember that they only see the inqs on the report(s) that they pull.

wndrwmn78 wrote:

I guess I'm just frustrated with myself that for the past few years I thought I was doing everything right, with getting new credit and keeping a clean history. Now I know that I've actually been hurting myself by not just letting these accounts age gracefully. It's hard to see posts where people with collections and late payments are being approved for $5000 credit lines - and here I am paying my bills like I'm supposed to and it's not good enough. :smileysad:



And that is understandable that you are frustrated. Remember that they are looking for a convincing track record, and that means that they're looking for a clean(-ish) record that has gone on long enough that they feel it has some predictive value. Do try to look at it through their eyes: you had something or other that went on in the past, so that you started rebuilding 3 years ago; your reports show that you are currently using nearly 40% of your available credit; and you've been looking for credit a whole lot recently. This is going to alarm them. Get the util down and keep it down (better for you financially, anyway), let the inqs cool down, and keep adding on that clean history, and you'll be getting approvals.

And don't forget, these are crummy times for credit applicants anyway. :smileytongue:
Message Edited by haulingthescoreup on 04-24-2009 05:15 AM
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Frequent Contributor
wndrwmn78
Posts: 256
Registered: ‎04-16-2009
0

Re: Please help! Called for Chase recon and was transferred to Customer Service...

Thank you for your honest answer! It's hard to just wait it out, but hey - at least all I'm doing is waiting for accounts to age and inquiries to fall off - not for collections to fall off! I've already been through that - 10 years ago in college I did the whole credit mess-up as a lot of people do, and it was a long wait for those bad accounts to fall off. They were finally all off a few years ago, and I was smart enough not to get into any more trouble, so from there it's just been rebuilding from scratch. Hence my short history.

 

One thing I would like to ask if you don't mind, without starting a new post, is your opinion on closing small, insignificant accounts? I know the general consensus is that you should not close accounts with a good history - just don't use them. But say in two years I want to apply for an Amex, and I have no inquiries and a 5 year history now - but they see my little $400 HSBC card that will never get bigger. Do cards like that turn the prime creditors off? Or will the fact that it's 5 years old make it not matter that I have a rebuilding card?

 

Thank you again! I really wish I had found these forums years ago! :smileysad:


Starting Score: 670 EQ and 674 TU
Current Score: 670 EQ and 674 TU
Goal Score: 750 both EQ and TU


Take the FICO Fitness Challenge
Regular Contributor
lawskool09
Posts: 171
Registered: ‎03-04-2008
0

Re: Please help! Called for Chase recon and was transferred to Customer Service...

I'm surprised they gave out that information.  I tried to find out why I was denied for a loan last week and they told me because the reason was specific to me (what??) they could not tell me over the phone.  I am a current customer.
4/23/08 EX-614 EQ-624 TU-635
5/6/08 EX-660 EQ-628 TU-685
5/12/08 EX-660 EQ-652 TU-685
12/08/08 EX-670 EQ-670 TU-674

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+