topic Re: Chase Recon Ritz Carlton Card Thoughts.... in Credit Card Applications

Chase Recon Ritz Carlton Card Thoughts....

rhapsody1 — Fri, 25 May 2018 00:02:44 GMT

I recently applied for the JP Morgan Ritz card with Chase.

I was ultimately declined. I called recon and they first cited my chapter 7 bk ruptcy from 8 years ago, then later that average age of account was low (approx 4-5 years old on average).

In the last year I have gotten a number of new cards. I was though under the impression this card was not subject to the 5/24 rule.

I guess I am wondering if I should try recon again?

They were very nice. I explained the reasons behind the discharge (medical expenses) and then what i've done to rebuild credit since then.

Not sure if another analyst would give me a better shake or not.

Thoughts?

He did ask why I had opened two new accounts in the last 6 months. (AMEX) I explained they are for travel related to business (and they really are).

Data points:

Exp: 745

TU: 735

Equafax: 730

Income is high.

Re: Chase Recon Ritz Carlton Card Thoughts....

Anonymous — Fri, 25 May 2018 00:11:57 GMT

Sorry to hear about the decline

Was Chase included in your Ch. 7? If so, I heard they can be pretty unforgiving for up to ten years.

Also, when you say that you have had two new cards in the past year, how long ago were those new accounts? The reason I ask is normally you want to wait bare minimum 6 months between applications to get in with the more strict lenders like Chase. THEORY: It sounds like the reason the CSR asked you why you opened up two new accouns in the past year is because they are trying to decide if you have what they call "credit seeking behavior" which Chase does not like and tends to avoid.

I say, it doesn't hurt to try and recon a couple of times to see if you can get someone more compassionate--I (personally) just wouldn't take another HP for it if they asked. I mean you already applied for the card so it couldnt hurt.

Good luck to you!

@rhapsody1 wrote:
I recently applied for the JP Morgan Ritz card with Chase.

I was ultimately declined. I called recon and they first cited my chapter 7 bk ruptcy from 8 years ago, then later that average age of account was low (approx 4-5 years old on average).

In the last year I have gotten a number of new cards. I was though under the impression this card was not subject to the 5/24 rule.

I guess I am wondering if I should try recon again?

They were very nice. I explained the reasons behind the discharge (medical expenses) and then what i've done to rebuild credit since then.

Not sure if another analyst would give me a better shake or not.

Thoughts?

He did ask why I had opened two new accounts in the last 6 months. (AMEX) I explained they are for travel related to business (and they really are).

Data points:

Exp: 745
TU: 735
Equafax: 730

Income is high.

Re: Chase Recon Ritz Carlton Card Thoughts....

rhapsody1 — Fri, 25 May 2018 00:20:52 GMT

Thank you!

The two most recent cards were from March.

So that may have effected it.

Does doing recon again result in more hard pulls?

Re: Chase Recon Ritz Carlton Card Thoughts....

Anonymous — Fri, 25 May 2018 00:26:51 GMT

Yeah the two new accounts in the past 2-3 months probably scared them.

Normally recons aren't a HP unless a lender is reaaaally on the fence; but they will let you know if they need to pull your credit again/HP. Anytime a lender mentions that they need to pull your credit again during a recon, it's most likely a HP. If they ask just politely say no thank you, hang up and call again to see if you get someone else--rinse and repeat. Just be as nice as possible + confident and hopefully you will find someone that's willing to go out on a limb and approve you.

Good luck to you!

@rhapsody1 wrote:
Thank you!

The two most recent cards were from March.

So that may have effected it.

Does doing recon again result in more hard pulls?

Re: Chase Recon Ritz Carlton Card Thoughts....

rhapsody1 — Fri, 25 May 2018 00:29:08 GMT

Thank you for explaining that. I guess i'm really just wondering if I should bother trying recon. They seem so firm

Re: Chase Recon Ritz Carlton Card Thoughts....

Anonymous — Fri, 25 May 2018 00:37:19 GMT

I guess it comes down to how badly you want the card. If you don't care about it then pack it up, you already have two other new cards waiting for you at home

@rhapsody1 wrote:
Thank you for explaining that. I guess i'm really just wondering if I should bother trying recon. They seem so firm

Re: Chase Recon Ritz Carlton Card Thoughts....

rhapsody1 — Fri, 25 May 2018 00:44:26 GMT

Well I do want the card, but I do wonder if its just not going to happen. I mean maybe IDK.

Also I had a chase card at the time of the chapter 7 filing, but I had previously paid it off in full, so they didn't eat anything, so to speak...

Thanks again for all the good information and data points

Re: Chase Recon Ritz Carlton Card Thoughts....

rhapsody1 — Fri, 25 May 2018 00:50:34 GMT

The recon process can be a bit stressful. Maybe I read too much into it...

Re: Chase Recon Ritz Carlton Card Thoughts....

Anonymous — Fri, 25 May 2018 00:57:36 GMT

Ha, it definitely can be stressful when you haven't done too many of them. But the payoff is well worth it, especially if you can get it without another hard pull. The good news is, you can always hang up and try again if you feel like you messed up. It's almost like playing Mario Bros. and having backup lives

@rhapsody1 wrote:
The recon process can be a bit stressful. Maybe I read too much into it...

Re: Chase Recon Ritz Carlton Card Thoughts....

rhapsody1 — Fri, 25 May 2018 01:02:20 GMT

I didn't really consider hanging up to be honest. Haha. Is it really just the luck of the draw?

Part of me felt like they could have approved it if they wanted to, since i've shown I am responsible and have the income.

IDK...

If I call in again will the new analyist see that I called in previously and tried?

Re: Chase Recon Ritz Carlton Card Thoughts....

Anonymous — Fri, 25 May 2018 01:07:41 GMT

I will put it this way, hanging up and trying again is a very common strategy on these boards AND there is actually a acronym for it that I can't for the life of me remember....HUCA/HUTA? I can't remember but there is one, ha!

You seem defeated/drained from the denial so why not sleep on it and see what you want to do in the morning. Cheers!

Re: Chase Recon Ritz Carlton Card Thoughts....

rhapsody1 — Fri, 25 May 2018 01:45:38 GMT

I guess I didn’t think you could get an agent to overturn something like this that easily.

I also thought the Ritz card was not included in the 5/24 chase rule. That’s why I specifically
applied for it.

The agent seemed to rationalize his decision to decline me based on my new accounts in the last year. I didn’t think chase co brand cards were so strict on that. Particularly if the income is higher and the score is up.

Re: Chase Recon Ritz Carlton Card Thoughts....

CreditCuriosity — Fri, 25 May 2018 02:55:05 GMT

Chase doesn't really deal with BK's on your file anymore until it is off your report. So it certainly doesn't hurt to recon, but as of about a half year ago or more Chase apparently isn't approving anyone with a BK on their file.

Re: Chase Recon Ritz Carlton Card Thoughts....

Anonymous — Fri, 25 May 2018 02:57:52 GMT

Wow good to know. I knew Chase and AMEX were a little sensitive when it came to BK's but dang!

@OP, if I were in your shoes I would try one more time to recon and if no dice, like I said, you already to have two new cards to take for a spin

@CreditCuriosity wrote:
Chase doesn't really deal with BK's on your file anymore until it is off your report. So it certainly doesn't hurt to recon, but as of about a half year ago or more Chase apparently isn't approving anyone with a BK on their file.

Re: Chase Recon Ritz Carlton Card Thoughts....

rhapsody1 — Fri, 25 May 2018 03:10:44 GMT

Amex then is generous compared then to chase post 8 years bankruptcy

Re: Chase Recon Ritz Carlton Card Thoughts....

rhapsody1 — Fri, 25 May 2018 03:12:08 GMT

The other weird thing is I noticed the recon agent didn’t review my income or other details. Thought that was odd. Just immediately fixated on the app spree after the bankruptcy questions

Re: Chase Recon Ritz Carlton Card Thoughts....

FinStar — Fri, 25 May 2018 05:20:30 GMT

Since the application auto-declined based on the cited reasons, there would've been no requirement by the analyst to review that information.

As @CreditCuriosity mentioned above, as long as BK is present on your CRs, Chase won't be able to overturn or reconsider their original position.