02-08-2013 05:53 AM
Holy cow! I had been looking at Subaru's website and I saw that there was a Subaru MasterCard offered by Chase, it offers 3% back in Subaru Rewards Dollars up to $500 per year which can be used for a new car, parts, or service at the dealer. There also is no AF. It also offers 0% on BT's & Purchases for the first 6 months. So on a whim I figured that I would apply for it. I honestly did not think that there was a snowball's chance in h*ll that I'd be approved, since I had a CH7 BK that was discharged in 08/2008 and 2 Chase CC's were IIB. But I figured that it wouldn't hurt to try.
After I applied I got a 7-10 message, and I ended up getting a letter saying that because my TU was frozen that they could not review my application. I went and unfroze my TU report and I called back tonight to let them know. The CSR put me on hold for about 3 minutes and came back saying that my application was approved for $3,000!!! Surprisingly he never asked me any questions, didn't ask about my BK, etc. I did log into my Chase online account and the new card is showing up already, and it shows the $3k for the CL and my APR is 16.24%. This is one of my lower CL's but I'm just glad to have my foot in the door with Chase.
I'm just absolutely shocked that I got approved since I thought that Chase blacklisted and weren't BK friendly. I don't know if it makes any difference or not but I do have my auto loan for my Subaru through JP Morgan Chase that has been open since 02/2011. Since my BK discharge my credit has vastly improved (my score is higher now then it ever was before BK), I have not had any late payments, and my income has doubled. Right now my current UTL is 11%.
What did you do to these three questions on App? -
Yes, my credit history is clear of bankruptcy.Yes, my credit history is clear of seriously delinquent accounts.Yes, I have NOT been denied credit by Chase within the last 6 months.Just curious..
I can chime in here...
When I applied with Chase with a BK, I just left the first box unchecked and checked the other 2. When you leave one of those boxes unchecked, it's typically an auto-decline or they will request further information from the applicant. When I got the letter, I called a recon analyst, she recommended me for approval and I got the card a couple days later.
02-08-2013 03:57 PM
jumpinjax wrote:Yes, my credit history is clear of bankruptcy.Yes, my credit history is clear of seriously delinquent accounts.Yes, I have NOT been denied credit by Chase within the last 6 months.Just curious..
I didn't check the BK and delinquent boxes. I did check the last box, since I hadn't been denied credit by Chase in the last 6 months. While I'm sure that probably would have caused a denial straight off the bat, the reason that I was denied was because the system couldn't pull my CR since it was frozen. I would have had to recon regardless, and thankfully the analyst at the backdoor number approved me.