topic Re: Multiple Recons for CSP - HELP! in Credit Card Applications

Multiple Recons for CSP - HELP!

Mav2246 — Tue, 15 Dec 2020 19:30:54 GMT

Hi all,

Here is my situation, I'd like y'all to weigh in. I went to apply for the CSP on December 5th in-branch (though it would help my chances). Denied due to UW reasons. I'm pretty sure if I would have done it online I would've gotten the 7-10 day message. Every time I call it gives me that.

Anyway, my reasons for denial were:

1.) Too short of time since recent CC opened

2.) Too many inquires (Like 7 in the past two years..)

3.) Lack of comparable CL on bankcard trades

I tried every angle on like 6 different recon attempts, even escalated two to the resolution department. Furthermore, I am still waiting on a callback from the EO. I'll be damned if I waste a hard pull. Pointed out I have never missed, been late on a payment, liked the card for its travel benefits. I mean I feel I really made a compelling argument.

Would. Not. Budge

Truthfully, I want the card because I have a massive tuition payment coming, and it would serve as a great no-frills way to meet the sign-up bonus. I mean I won't have another opportunity like this for a while. So what should I do? Keep reconing and hope for a better analyst, apply for a different card, or give up? My plan was to get CSP for 4/24 then finish Chase with the World of Hyatt card, but I want this tuition payment to count, idk what to do.

Don't want to piss off Chase, but persistence has always paid off for me. It's how I got the CFF, I was denied initially for that as well.

Help!

Credit Info:

Average CS of 700

FNBO Unsecured - $400 CL Opened June 2019

Mortgage - <200k Opened July 2020

Discover It - $2000 CL Opened August 2020

Chase Freedom Flex - $500 CL Opened Obtober 2020 (took 3 recons lol)

Re: Multiple Recons for Chase CSP - HELP!

blindambition — Tue, 15 Dec 2020 19:34:53 GMT

You said 7/24, Was that new accounts?, or inquiries? If it's new accounts, you're out of gas. That's past the 5/24 threshold. With your multiple attempts to recon, I'd say you have no chance to overturn. You get one chance to recon... that answer is usually final...

Re: Multiple Recons for Chase CSP - HELP!

Mav2246 — Tue, 15 Dec 2020 19:43:29 GMT

No the 7/24 was just inquires. I am under 5/24 as of now.

Should be 3/24 with all my cc accounts I have listed.

Re: Multiple Recons for Chase CSP - HELP!

blindambition — Tue, 15 Dec 2020 19:51:24 GMT

Then they based decision on other factors. Won't be overturned, and you are making it worse. The desperate attempts alone would be a red flag.

Re: Multiple Recons for Chase CSP - HELP!

Mav2246 — Tue, 15 Dec 2020 20:18:54 GMT

I gotcha. I mean I have read of people reconning like 10+ times or until they got approved. I'm guessing you don't recommend that?

So should I let it go and garden then? Or try to move on to AMEX to get one of their sign-up bonuses?

Re: Multiple Recons for CSP - HELP!

Anonymous — Tue, 15 Dec 2020 20:26:16 GMT

You should probably let it go and go for their smaller cards if you want to go through cards fast

Amazon Visa and Freedom Unlimited start at 500, too. IHG starts at 2000

You could try the IHG, maybe. Then when you're sitting at 4/24 do the MDD for the other 2 low SL Chase Visas, and move onto Barclays or Amex before new accounts report. Just my opinion.

Re: Multiple Recons for CSP - HELP!

Mav2246 — Tue, 15 Dec 2020 20:38:45 GMT

That makes a lot of sense. I'm really particular about the cards I want, which may not be so awesome. Beggars can't really be choosers.

I like Hyatt and their rewards structure so that was the hotel card I was hoping to get to close out my chase cards after the CSP. I'd also consider just saying screw chase and moving onto Amex cards. I plan to use MR as my main rewards system anyway.

Just want to hit a SUB with this tuition payment.

Re: Multiple Recons for CSP - HELP!

Rpgough0311 — Tue, 15 Dec 2020 21:05:45 GMT

I am assuming some of those hard pulls are from the mortgage. Did you bring that up?

Re: Multiple Recons for CSP - HELP!

Mav2246 — Tue, 15 Dec 2020 21:15:43 GMT

I did. They didn't seem to care.

I think the inquires were the least of their concerns. I actually think I got them to drop that reason last recon. It is the new account and lack of comparable CLs that's killing me.

Re: Multiple Recons for CSP - HELP!

Anonymous — Tue, 15 Dec 2020 21:34:24 GMT

The comparable CL may well be it. They're known for not wanting to be your first CL at a high limit.

Re: Multiple Recons for CSP - HELP!

Mav2246 — Tue, 15 Dec 2020 22:28:22 GMT

I agree. Is there anything I can do?

Re: Multiple Recons for CSP - HELP!

OmarGB9 — Wed, 16 Dec 2020 00:47:58 GMT

@Mav2246 wrote:
I agree. Is there anything I can do?

I would let it go and garden. Try to grow your other lines to $5k minimum, then try again.

Re: Multiple Recons for CSP - HELP!

Anonymous — Wed, 16 Dec 2020 01:50:25 GMT

@Mav2246 Sorry about the initial denial! I don't have much experience with Chase so you can take my advice with a grain of salt. I would advise gardening and trying again after all your new accounts have hit at least a year.

You have 3 accounts that were opened this year and your recent chase approval has a low SL indicating that you just barely made it in the door.

I have heard that Chase doesn't like to be the first to give you a large limit. It might be wise to either grow your cards or pursue your other goal cards after some time has passed.

You've been given some good advice above imo.

Good luck with whatever you decide.

Re: Multiple Recons for Chase CSP - HELP!

FinStar — Wed, 16 Dec 2020 05:50:55 GMT

@Mav2246 wrote:
I gotcha. I mean I have read of people reconning like 10+ times or until they got approved. I'm guessing you don't recommend that?

So should I let it go and garden then? Or try to move on to AMEX to get one of their sign-up bonuses?

Echoing a variety of the advice already given, it's best to let it be @Mav2246. You've called multiple times without success and each time you call there's a record/notes of the conversations.

In the past, there was more flexibility with Chase reconsiderations, but that ship has sailed and these days they usually allow one opportunity for re-review (not multiple).

Re: Multiple Recons for CSP - HELP!

Harvey26 — Wed, 16 Dec 2020 19:51:42 GMT

@Mav2246 Have you considered AMEX?

Re: Multiple Recons for CSP - HELP!

kdm31091 — Wed, 16 Dec 2020 22:59:52 GMT

I would just let it go. I think the chance is extremely slim as far as having it overturned. Most banks are moving away from manual reconsiderations and whatever the computer spits out typically stands unless there is an actual error on your credit report etc. While Chase does allow you to speak to an analyst still, it seems unlikely the answer would change after the first or maybe second attempt.

Re: Multiple Recons for CSP - HELP!

Anonymous — Thu, 17 Dec 2020 05:32:28 GMT

Just try wait it out and app again

I don't think 7 inquires is an issue rather than an excuse, I append for the United card in September got denied to high balances across 3-4 cards which I had use for business purpose in March April may due to covid

since then I have paid them off in October

After being denied in September and paying off my balances in full in October,

I apped 11/30 got approved through recon for the same card United explorer

then apped for United business card 12/11 got approve through recon no question asked just rep went over the app and approve me with asking anything

I had like 6 HP on Equifax on first try and maybe 7/8 on Equifax and 11-12 on Experian so I don't think 7 inquire in 2 year was issue rather an excuse

advice would be to put spend on your other chase card and pay off and cycle the card allow them to automatically increase your limit and apply in maybe 6 month

might also help if u could get checking account with them, sometimes they like prefer when you have a banking relationship

Re: Multiple Recons for CSP - HELP!

Mav2246 — Thu, 17 Dec 2020 19:09:45 GMT

I plan to use AMEX exclusively. I just wanted to finish 5/24 with the CSP and World of Hyatt.

Wanted to wait for the AMEX Plat 125k targeted offer so I don't leave money on the table.

Re: Multiple Recons for Chase CSP - HELP!

Mav2246 — Thu, 17 Dec 2020 19:11:20 GMT

All really great advice from everybody. Thanks! Im still waiting on a call from Chase EO and then i'll probably let it go and garden.

Re: Multiple Recons for Chase CSP - HELP!

Remedios — Thu, 17 Dec 2020 23:44:38 GMT

@Mav2246 wrote:
All really great advice from everybody. Thanks! Im still waiting on a call from Chase EO and then i'll probably let it go and garden.

OP, they gave you Freedom two months ago with their lowest possible limit.

That right there is kinda clear message from them that they aren't willing to entertain $1.00 over their lowest starting limit.

"Probably let it go" isn't really helping you any. You have one formerly secured card whose limit is almost as high as your Freedom. Chase won't play $5000.00 game with you right now.

Stop applying, ask Discover for CLI periodically, and once you approach or exceed $5000.00 try chase again.

Honestly, you're just wasting your time.