topic Re: CSP approved! (+Recon Line and Fraud Charge Off) in Credit Card Approvals

CSP approved! (+Recon Line and Fraud Charge Off)

Anonymous — Sun, 20 Dec 2015 18:57:25 GMT

Hello all!

Today I was approved for the Chase Sapphire Preferred card with the standard $5K limit! This has been my “goal” card. I’ve read about the difficulties some people have had in getting this card, and I was not without my own difficulties, although a little different from others. My stats at the time of app:

$30K income

TU Fico 691

Discover It: $2800 (24% util)

CapOne QS: $4000 (48% util)

1 Charge Off, No Public Records

Student loans totaling right under $40K (still open because I’m still in school)

Was pre-qualified

Backstory: I app’d for Venture because I didn’t think I would qualify for the CSP. I was approved for the Venture, posted my results on the forum (http://ficoforums.myfico.com/t5/Credit-Card-Approvals/CapOne-Venture-approved/m-p/4358688/highlight/false#M358615), then later that night, feeling really confident after the Venture approval, I scratched the CSP itch. I was denied and was told to call the “backdoor” number. I called the following Monday and was basically told my “obligations were too high relative to income”, which it was stated in the letter I received later in the mail. For some reason that answer bugged me, and I was compelled to check my credit report.

To my surprise, there was a $15K charge off from a CA for some creditor I’ve never heard of before claiming that it was for a student loan. It had been on my CR for about a month. I called the CA asking them where exactly this supposed debt is coming from and to provide me with the contact information of the original creditor. Of course they wouldn’t give me any info. I did a lot of research, I made a few calls and tracked down all of my loans. I sent the CA a debt validation letter earlier this week, and they took off the charge-off from my report.

Thinking that that may have been the reason I was initially denied for the CSP, I called recon today and explained what happened. I also told the agent that I am still in school. She puts me on hold for about a minute, comes back and asks me to verify my income. She puts me on a very short hold again, then she comes back and tells me that I have been approved!

It has been a very rough 2 weeks, but I am just glad that everything is squared away with my credit report, and that I ultimately got my “goal” card! Now, I am checking into the gardening club until further notice...

Re: CSP approved! (+Recon Line and Fraud Charge Off)

Anonymous — Sun, 20 Dec 2015 03:51:18 GMT

Lots of outstanding hard work and persistence behind this approval. Congratulations and very well done!

Re: CSP approved! (+Recon Line and Fraud Charge Off)

Belfanm — Sun, 20 Dec 2015 03:54:14 GMT

What a happy ending. I'm happy you didn't give up :-). Congrats on your new acct.

Re: CSP approved! (+Recon Line and Fraud Charge Off)

TrialByFire — Sun, 20 Dec 2015 04:47:35 GMT

You had to work for that one! Glad you got the CO squared away and got the nod for csp

Re: CSP approved! (+Recon Line and Fraud Charge Off)

Anonymous — Sun, 20 Dec 2015 15:23:29 GMT

Well done, congrats on your success !

Re: CSP approved! (+Recon Line and Fraud Charge Off)

Anonymous — Sun, 20 Dec 2015 16:21:24 GMT

Thanks everyone! I hope my story inspires others to be more persistent and mindful of their credit. Never give up!

Re: CSP approved! (+Recon Line and Fraud Charge Off)

Anonymous — Sun, 20 Dec 2015 16:42:03 GMT

congrats on the csp

Re: CSP approved! (+Recon Line and Fraud Charge Off)

alextercero — Sun, 20 Dec 2015 20:16:29 GMT

Congrats on the approval

Re: CSP approved! (+Recon Line and Fraud Charge Off)

Anonymous — Sun, 20 Dec 2015 22:44:15 GMT

Good job and enjoy it...

Re: CSP approved! (+Recon Line and Fraud Charge Off)

OmarGB9 — Mon, 21 Dec 2015 01:10:12 GMT

Grats

Re: CSP approved! (+Recon Line and Fraud Charge Off)

othersteve — Mon, 21 Dec 2015 01:12:56 GMT

Congrats, this card is terrific overall IMO.