topic Re: Chase Freedom Flex HP Denial in Credit Card Applications

Chase Freedom Flex HP Denial

ultimaterewardsguy357 — Thu, 01 Apr 2021 18:23:23 GMT

4/1/2021

Called the number on the back of my CFF, I requested a CLI of $1,000 and was denied. I was transferred over to a credit analyst who grilled me about wanting a CLI, brought back an old charge off of $800 when I had the Slate back in 2007. She said $11K in CL is already a lot and not even a year has passed on my cards to see if they can trust me with those limits based on my profile. Consolidating CL was out of the question since my CSP CLI is for the CSR product change. I was not upset with the hard pull or decision but I was interested in the reasons (see below) that showed up in my Chase app. I think I need to give myself some time for my personal accounts to grow until next year. Should I call recon and push for an overturning decision? Thoughts?

Backstory

October 1, 2020 was approved with a CL of $4,500 and didn't have to go through recon. I just had to verify that I applied for the card. Since, I had moved CL over to the CSP.

CFF CLI Timeline

10/1/2020, SL $4,500

11/12/2020, CL $2,000 (moved $2,500 to CSP)

12/12/2020, CL $1,000 (moved $1,000 to CSP; $1,000 min. CL on CFF)

4/1/2021, CLI Denied

CFF CLI Denial Reasons

Credit report shows too many recently opened accounts. (Wait until accounts have aged 6 months to 1 year?)

You have too many active accounts or too much available credit. (9 open accounts at 5% utilization. Should I be showing more utilization?)

Oldest revolving account has not been opened long enough. (Oldest ACTIVE PRIMARY revolving account is 1 year 4 months. Age 8 months?)

Lack of comparable credit lines on bankcard trades. (Calling back to get clarification since I asked for a $1K CLI bringing my CFF to $2K)

Data Points:

5/24 Status: 7/24

EX Inquiries: 1 (6 Months); 2 (12 Months); 5 (24 Months)

UTI: 5%

FICO 8 Scores: EX 774, EQ 765, TU 759

Pulled FICO 8 Bankcard EX: 768

AAoA: 4 years

Credit History Length: 13 years

Income: $65K - $74K

Current Cards:

1. Citi Double Cash Card, $9,000, opened 3/2017 (AU)

2. Discover It Cash Back, $4,000, opened 12/2019

3. Merrick, $2,500, opened 1/2020

4. Amex Gold Card, No Pre-Set SL, opened 3/2020

5. Chase Sapphire Preferred, $10,000, opened 9/2020

6. Chase Freedom Flex, $1,000, opened 10/2020

7. Blue Business Plus, $2,000, opened 1/2021

8. The Platinum Card from Amex, No Pre-Set SL, opened 1/2021

9. CitiBusiness / AAdvantage Platinum Select, $11,000, opened 3/2021

Re: Chase Freedom Flex HP Denial

FinStar — Thu, 01 Apr 2021 19:12:01 GMT

@ultimaterewardsguy357 wrote:
I was so ecstatic about my recent CLI approval on the CSP that I tried my luck. I was hoping for a denial and here's how it went down:

4/1/2021
Called the number on the back of my CFF, I requested a CLI of $1,000 and was denied. I was transferred over to a credit analyst who grilled me about wanting a CLI, brought back an old charge off of $800 when I had the Slate back in 2007. She said $11K in CL is already a lot and not even a year has passed on my cards to see if they can trust me with those limits based on my profile. Consolidating CL was out of the question since my CSP CLI is for the CSR product change. I was not upset with the hard pull or decision but I was interested in the reasons (see below) that showed up in my Chase app. I think I need to give myself some time for my personal accounts to grow until next year. Should I call recon and push for an overturning decision? Thoughts?

Backstory
October 1, 2020 was approved with a CL of $4,500 and didn't have to go through recon. I just had to verify that I applied for the card. Since, I had moved CL over to the CSP.

CFF CLI Timeline
10/1/2020, SL $4,500
11/12/2020, CL $2,000 (moved $2,500 to CSP)
12/12/2020, CL $1,000 (moved $1,000 to CSP; $1,000 min. CL on CFF)
4/1/2021, CLI Denied

CFF CLI Denial Reasons
Credit report shows too many recently opened accounts. (Wait until accounts have aged 6 months to 1 year?)
You have too many active accounts or too much available credit. (9 open accounts at 5% utilization. Should I be showing more utilization?)
Oldest revolving account has not been opened long enough. (Oldest ACTIVE PRIMARY revolving account is 1 year 4 months. Age 8 months?)
Lack of comparable credit lines on bankcard trades. (Calling back to get clarification since I asked for a $1K CLI bringing my CFF to $2K)

Data Points:
5/24 Status: 7/24
EX Inquiries: 1 (6 Months); 2 (12 Months); 5 (24 Months)

UTI: 5%
FICO 8 Scores: EX 774, EQ 765, TU 759
Pulled FICO 8 Bankcard EX: 768
AAoA: 4 years
Credit History Length: 13 years
Income: $65K - $74K

Current Cards:
1. Citi Double Cash Card, $9,000, opened 3/2017 (AU)
2. Discover It Cash Back, $4,000, opened 12/2019
3. Merrick, $2,500, opened 1/2020
4. Amex Gold Card, No Pre-Set SL, opened 3/2020
5. Chase Sapphire Preferred, $10,000, opened 9/2020
6. Chase Freedom Flex, $1,000, opened 10/2020
7. Blue Business Plus, $2,000, opened 1/2021
8. The Platinum Card from Amex, No Pre-Set SL, opened 1/2021
9. CitiBusiness / AAdvantage Platinum Select, $11,000, opened 3/2021

Unfortunately, I can't see the outcome changing. You've already spoken to an analyst which pretty much wasn't going to budge given those reasons, and if you call again, those notes are likely documented from your conversation. I would cool jets off for a while (as you eluded above) since it appears your CC history is fairly young not to mentioned you've opened 4 personal CC accounts in the past ~12 months, including CFF.

Re: Chase Freedom Flex HP Denial

ultimaterewardsguy357 — Thu, 01 Apr 2021 19:59:08 GMT

Current Cards:
1. Citi Double Cash Card, $9,000, opened 3/2017 (AU)
2. Discover It Cash Back, $4,000, opened 12/2019
3. Merrick, $2,500, opened 1/2020
4. Amex Gold Card, No Pre-Set SL, opened 3/2020
5. Chase Sapphire Preferred, $10,000, opened 9/2020
6. Chase Freedom Flex, $1,000, opened 10/2020
7. Blue Business Plus, $2,000, opened 1/2021
8. The Platinum Card from Amex, No Pre-Set SL, opened 1/2021
9. CitiBusiness / AAdvantage Platinum Select, $11,000, opened 3/2021
Unfortunately, I can't see the outcome changing. You've already spoken to an analyst which pretty much wasn't going to budge given those reasons, and if you call again, those notes are likely documented from your conversation. I would cool jets off for a while (as you eluded above) since it appears your CC history is fairly young not to mentioned you've opened 4 personal CC accounts in the past ~12 months, including CFF.

As always, thanks for your input, @FinStar. I don't see the outcome changing either but things can change at any time from my experiences. Average age of CCs is about 1 year with 3 personal CCs opened in the past 12 months (CSP, CFF, and Plat). CFF/CSP over 6 months old. Plat being the youngest.

Re: Chase Freedom Flex HP Denial

FinStar — Thu, 01 Apr 2021 21:48:17 GMT

@ultimaterewardsguy357 wrote:
Current Cards:
1. Citi Double Cash Card, $9,000, opened 3/2017 (AU)
2. Discover It Cash Back, $4,000, opened 12/2019
3. Merrick, $2,500, opened 1/2020
4. Amex Gold Card, No Pre-Set SL, opened 3/2020
5. Chase Sapphire Preferred, $10,000, opened 9/2020
6. Chase Freedom Flex, $1,000, opened 10/2020
7. Blue Business Plus, $2,000, opened 1/2021
8. The Platinum Card from Amex, No Pre-Set SL, opened 1/2021
9. CitiBusiness / AAdvantage Platinum Select, $11,000, opened 3/2021
Unfortunately, I can't see the outcome changing. You've already spoken to an analyst which pretty much wasn't going to budge given those reasons, and if you call again, those notes are likely documented from your conversation. I would cool jets off for a while (as you eluded above) since it appears your CC history is fairly young not to mentioned you've opened 4 personal CC accounts in the past ~12 months, including CFF.
As always, thanks for your input, @FinStar. I don't see the outcome changing either but things can change at any time from my experiences. Average age of CCs is about 1 year with 3 personal CCs opened in the past 12 months (CSP, CFF, and Plat). CFF/CSP over 6 months old. Plat being the youngest.

Anytime.

It's your call to see whether you want to entertain another reconsideration attempt. Granted Chase isn't like AmEx when it comes to reconsiderations, but you can explore that outcome if you wish.

Re: Chase Freedom Flex HP Denial

Remedios — Thu, 01 Apr 2021 22:23:27 GMT

I hope you get to keep them if you continue poking.

They really don't like it, so that could be one of the outcome changes you mentioned as a possibility.

Re: Chase Freedom Flex HP Denial

ultimaterewardsguy357 — Thu, 01 Apr 2021 22:40:24 GMT

@Remedios wrote:
I hope you get to keep them if you continue poking.
They really don't like it, so that could be one of the outcome changes you mentioned as a possibility.

I don't see it being an issue. I am in a good place financially and I am and have been responsible with Chase. I will take you and FinStar's comments under advisement.