topic Re: Chase Bank Portfolio Department in Credit Cards

Chase Bank Portfolio Department

Anonymous — Sun, 03 Dec 2017 07:11:42 GMT

Applied Black friday For Chase Sapphire Preferred.$10,000 Limit card was mailed. I recieved the card today set it up online and its says account closed !!!!!! I called them and they said I have to speak to the Portfolio Departments. Does anyone know who these people are and why would they close my account already and not freeze it.

Re: Chase Bank Portfolio Department

Anonymous — Sun, 03 Dec 2017 11:18:20 GMT

Sorry to hear about this. You can search the forums for similar experiences. Chase reviews all new accounts internally even after you're approved. They will continue to soft pull your CRA (I think it's usually EX) after approval, and they seem to be pulling 2 CRAs now for each new request. Your current credit history - # of inquiries, any derogatories, current CL, current utilization, # of new accounts in the calendar year, etc. - is what Chase will tell you ultimately made the decision. If they don't like something, they get spooked. As you set up an online account, I presume you don't have a pre-existing relationship with Chase, which makes it more of an uphill battle.

Re: Chase Bank Portfolio Department

Anonymous — Sun, 03 Dec 2017 14:42:00 GMT

@Anonymous wrote:
Sorry to hear about this. You can search the forums for similar experiences. Chase reviews all new accounts internally even after you're approved. They will continue to soft pull your CRA (I think it's usually EX) after approval, and they seem to be pulling 2 CRAs now for each new request. Your current credit history - # of inquiries, any derogatories, current CL, current utilization, # of new accounts in the calendar year, etc. - is what Chase will tell you ultimately made the decision. If they don't like something, they get spooked. As you set up an online account, I presume you don't have a pre-existing relationship with Chase, which makes it more of an uphill battle.

Thanks I've tried to search for this maybe im not looking in the right area, Is no i dont have a relationship with chase this is my first card with them and im trying to keep it. I guess I will have to do some recon to try to keep this card the Rep said call the number on mondy to speak with someone. Have you heard or read of anyone winning in this situation?

Re: Chase Bank Portfolio Department

Anonymous — Sun, 03 Dec 2017 16:47:26 GMT

@Anonymous wrote:
@Anonymous wrote:
Sorry to hear about this. You can search the forums for similar experiences. Chase reviews all new accounts internally even after you're approved. They will continue to soft pull your CRA (I think it's usually EX) after approval, and they seem to be pulling 2 CRAs now for each new request. Your current credit history - # of inquiries, any derogatories, current CL, current utilization, # of new accounts in the calendar year, etc. - is what Chase will tell you ultimately made the decision. If they don't like something, they get spooked. As you set up an online account, I presume you don't have a pre-existing relationship with Chase, which makes it more of an uphill battle.

Thanks I've tried to search for this maybe im not looking in the right area, Is no i dont have a relationship with chase this is my first card with them and im trying to keep it. I guess I will have to do some recon to try to keep this card the Rep said call the number on mondy to speak with someone. Have you heard or read of anyone winning in this situation?

Give them a call and see what they say. I cannot say I've heard of anyone that has successfully recon-ed something like this. Good luck!

Re: Chase Bank Portfolio Department

bourgogne — Sun, 03 Dec 2017 17:18:36 GMT

what is the phone # you were given to call? how many other cards have you gotten in the past 6 months, what is the total exposure you have with all cards and what is your total util on all cards?

Re: Chase Bank Portfolio Department

CreditInspired — Sun, 03 Dec 2017 17:25:43 GMT

@Anonymous wrote:
@Anonymous wrote:
Sorry to hear about this. You can search the forums for similar experiences. Chase reviews all new accounts internally even after you're approved. They will continue to soft pull your CRA (I think it's usually EX) after approval, and they seem to be pulling 2 CRAs now for each new request. Your current credit history - # of inquiries, any derogatories, current CL, current utilization, # of new accounts in the calendar year, etc. - is what Chase will tell you ultimately made the decision. If they don't like something, they get spooked. As you set up an online account, I presume you don't have a pre-existing relationship with Chase, which makes it more of an uphill battle.

Thanks I've tried to search for this maybe im not looking in the right area, Is no i dont have a relationship with chase this is my first card with them and im trying to keep it. I guess I will have to do some recon to try to keep this card the Rep said call the number on mondy to speak with someone. Have you heard or read of anyone winning in this situation?

As Banquier noted, something must have spooked them after the approval, so can you answer these questions:

1. How many inquiries in the last 12 months across all three CRs?

2. Do you have a BK showing that they may have missed on one of your reports?

3. Do you have a high UT +29%, either across the board or even on one credit card?

4. Did a collection or 30-day late just pop up on any CR?

All of these things have to be taken into the equation. If the answer to all of these is no, then unfortunately, you have to wait until Monday. Hopefully, it's just a verification question.

GL2U

Re: Chase Bank Portfolio Department

Anonymous — Sun, 03 Dec 2017 17:36:41 GMT

@bourgogne wrote:
what is the phone # you were given to call? how many other cards have you gotten in the past 6 months, what is the total exposure you have with all cards and what is your total util on all cards?

Phone # 877-763-3440

Since the Chase Approval 3 new Inq's with 3 new cards. util is at 1% across the board credit score went down 60 point cause of new cards. Avg age 5 years 11 months. Trans 664 from 710 EQ 590 from 665, There a Fraud account which ive notified EQ about before I applied for chase card only shows on EQ.

Cap One $1,000 New Account

Kohls $800 New Account

First P $500 New Account

Dicso $15K (AU) 23 years Old

Re: Chase Bank Portfolio Department

bourgogne — Sun, 03 Dec 2017 17:42:25 GMT

@Anonymous wrote:
@bourgogne wrote:
what is the phone # you were given to call? how many other cards have you gotten in the past 6 months, what is the total exposure you have with all cards and what is your total util on all cards?
Phone # 877-763-3440

Since the Chase Approval 3 new Inq's with 3 new cards. util is at 1% across the board credit score went down 60 point cause of new cards. Avg age 5 years 11 months. Trans 664 from 710 EQ 590 from 665, There a Fraud account which ive notified EQ about before I applied for chase card only shows on EQ.

Cap One $1,000 New Account
Kohls $800 New Account
First P $500 New Account
Dicso $15K (AU) 23 years Old

sorry, you got 3 of the above cards post a $10K chase card? bad move, I think you can kiss your chase card goodbye. of course I hope I am wrong. on a side note, why on earth would you bother with junk after getting a premium card like chase? just curious of how the mind works. good luck

Re: Chase Bank Portfolio Department

Anonymous — Sun, 03 Dec 2017 17:43:17 GMT

@CreditInspired wrote:
@Anonymous wrote:
@Anonymous wrote:
Sorry to hear about this. You can search the forums for similar experiences. Chase reviews all new accounts internally even after you're approved. They will continue to soft pull your CRA (I think it's usually EX) after approval, and they seem to be pulling 2 CRAs now for each new request. Your current credit history - # of inquiries, any derogatories, current CL, current utilization, # of new accounts in the calendar year, etc. - is what Chase will tell you ultimately made the decision. If they don't like something, they get spooked. As you set up an online account, I presume you don't have a pre-existing relationship with Chase, which makes it more of an uphill battle.

Thanks I've tried to search for this maybe im not looking in the right area, Is no i dont have a relationship with chase this is my first card with them and im trying to keep it. I guess I will have to do some recon to try to keep this card the Rep said call the number on mondy to speak with someone. Have you heard or read of anyone winning in this situation?
As Banquier noted, something must have spooked them after the approval, so can you answer these questions:
1. How many inquiries in the last 12 months across all three CRs?
2. Do you have a BK showing that they may have missed on one of your reports?
3. Do you have a high UT +29%, either across the board or even on one credit card?
4. Did a collection or 30-day late just pop up on any CR?

All of these things have to be taken into the equation. If the answer to all of these is no, then unfortunately, you have to wait until Monday. Hopefully, it's just a verification question.

GL2U

1. How many inquiries in the last 12 months across all three CRs? (5)

2. Do you have a BK showing that they may have missed on one of your reports? (NO)

3. Do you have a high UT +29%, either across the board or even on one credit card? (NO)

4. Did a collection or 30-day late just pop up on any CR?

(Yes On EQ was there at the time I applied from 1 Year its a fraud account some rental place which on EQ was there at time of application which before i applied i called EQ and made them aware.)

Re: Chase Bank Portfolio Department

CreditInspired — Sun, 03 Dec 2017 17:56:13 GMT

@Anonymous wrote:
@bourgogne wrote:
what is the phone # you were given to call? how many other cards have you gotten in the past 6 months, what is the total exposure you have with all cards and what is your total util on all cards?
Phone # 877-763-3440

Since the Chase Approval 3 new Inq's with 3 new cards. util is at 1% across the board credit score went down 60 point cause of new cards. Avg age 5 years 11 months. Trans 664 from 710 EQ 590 from 665, There a Fraud account which ive notified EQ about before I applied for chase card only shows on EQ.

Cap One $1,000 New Account
Kohls $800 New Account
First P $500 New Account
Dicso $15K (AU) 23 years Old

OH MY -- 3 new inqs and credit cards!!! I think that may be why they rescinded the offer. Unfortunately, whether true or not, CCCs view this as desperation for credit.

Re: Chase Bank Portfolio Department

Anonymous — Sun, 03 Dec 2017 18:16:45 GMT

@CreditInspired wrote:
@Anonymous wrote:
@bourgogne wrote:
what is the phone # you were given to call? how many other cards have you gotten in the past 6 months, what is the total exposure you have with all cards and what is your total util on all cards?
Phone # 877-763-3440

Since the Chase Approval 3 new Inq's with 3 new cards. util is at 1% across the board credit score went down 60 point cause of new cards. Avg age 5 years 11 months. Trans 664 from 710 EQ 590 from 665, There a Fraud account which ive notified EQ about before I applied for chase card only shows on EQ.

Cap One $1,000 New Account
Kohls $800 New Account
First P $500 New Account
Dicso $15K (AU) 23 years Old
OH MY -- 3 new inqs and credit cards!!! I think that may be why they rescinded the offer. Unfortunately, whether true or not, CCCs view this as desperation for credit.

I agree hey theres nothing i can do at this point .... Im hoping they want to ask me some security questions

Re: Chase Bank Portfolio Department

UncleB — Sun, 03 Dec 2017 19:02:20 GMT

@Anonymous wrote:
@CreditInspired wrote:
@Anonymous wrote:
@bourgogne wrote:
what is the phone # you were given to call? how many other cards have you gotten in the past 6 months, what is the total exposure you have with all cards and what is your total util on all cards?
Phone # 877-763-3440

Since the Chase Approval 3 new Inq's with 3 new cards. util is at 1% across the board credit score went down 60 point cause of new cards. Avg age 5 years 11 months. Trans 664 from 710 EQ 590 from 665, There a Fraud account which ive notified EQ about before I applied for chase card only shows on EQ.

Cap One $1,000 New Account
Kohls $800 New Account
First P $500 New Account
Dicso $15K (AU) 23 years Old
OH MY -- 3 new inqs and credit cards!!! I think that may be why they rescinded the offer. Unfortunately, whether true or not, CCCs view this as desperation for credit.
I agree hey theres nothing i can do at this point .... Im hoping they want to ask me some security questions

We've seen plenty of people apply for multiple cards close together so I personally doubt that's the issue (or at least it's probably not the primary issue).

What I see sticking out is (if I'm reading correctly) your EQ has dropped to 590; that along with the fraud account is enough to raise a red flag.

Hindsight is always 20/20, but if you were aware of an issue with a fradulent account you would have been better off to have waited before applying for new cards... especially with Chase.

All we can do here is speculate (which is what I'm doing as well); you'll get definite answers once you call Chase and speak with them. Hopefully they'll be able to work with your explanation... we'll all keep our fingers crossed for you. Be sure to let us know how it goes!

Re: Chase Bank Portfolio Department

bourgogne — Sun, 03 Dec 2017 19:02:21 GMT

be upbeat, direct and professional. tell them the truth, that you had a major blow out with your ex and you lost you mind for a period of time. say you want in with chase and list the reasons; upcoming travel, etc. tell them to drop the sl to $5K. I am not telling you to beg..well beg lol. but really, good luck, anything is possible and you have a chance at turning this around. tu/eq are worthless as ex is their main puller, what was you your fico8 ex when you apped?

Re: Chase Bank Portfolio Department

UncleB — Sun, 03 Dec 2017 19:04:37 GMT

@bourgogne wrote:
be upbeat, direct and professional. tell them the truth, that you had a major blow out with your ex and you lost you mind for a period of time. say you want in with chase and list the reasons; upcoming travel, etc. tell them to drop the sl to $5K. I am not telling you to beg..well beg lol. but really, good luck, anything is possible and you have a chance at turning this around. tu/eq are worthless as ex is their main puller, what was you your fico8 ex when you apped?

Chase pulled both EX and EQ for each of my cards. They are known to pull TU for some as well.

Re: Chase Bank Portfolio Department

bourgogne — Sun, 03 Dec 2017 19:07:13 GMT

@UncleB wrote:
@bourgogne wrote:
be upbeat, direct and professional. tell them the truth, that you had a major blow out with your ex and you lost you mind for a period of time. say you want in with chase and list the reasons; upcoming travel, etc. tell them to drop the sl to $5K. I am not telling you to beg..well beg lol. but really, good luck, anything is possible and you have a chance at turning this around. tu/eq are worthless as ex is their main puller, what was you your fico8 ex when you apped?
Chase pulled both EX and EQ for each of my cards. They are known to pull TU for some as well.

true, in socal is almost always ex, i have helped a ton of people with chase, sometimes on a freedom they will double tap tu. never heard of a eq pull, good to know thx

Re: Chase Bank Portfolio Department

UncleB — Sun, 03 Dec 2017 19:12:15 GMT

@bourgogne wrote:
@UncleB wrote:
@bourgogne wrote:
be upbeat, direct and professional. tell them the truth, that you had a major blow out with your ex and you lost you mind for a period of time. say you want in with chase and list the reasons; upcoming travel, etc. tell them to drop the sl to $5K. I am not telling you to beg..well beg lol. but really, good luck, anything is possible and you have a chance at turning this around. tu/eq are worthless as ex is their main puller, what was you your fico8 ex when you apped?
Chase pulled both EX and EQ for each of my cards. They are known to pull TU for some as well.
true, in socal is almost always ex, i have helped a ton of people with chase, sometimes on a freedom they will double tap tu. never heard of a eq pull, good to know thx

For some reason they love to pull the EX/EQ combo for folks in the Southeast (I've seen - and experienced - the same trend with Citi).

Re: Chase Bank Portfolio Department

CreditCuriosity — Sun, 03 Dec 2017 19:17:03 GMT

@UncleB wrote:
For some reason they love to pull the EX/EQ combo for folks in the Southeast (I've seen - and experienced - the same trend with Citi).

Tell me about it

Yes the new accounts and the huge drop on your EQ score along with the issue on your EQ is what caused it. I wish you the best, but most likely the card is gone and closed.

Re: Chase Bank Portfolio Department

Anonymous — Mon, 04 Dec 2017 00:23:21 GMT

Dangit! my EX is forzen....would they still consider if my EX is frozen or will they just look at my EQ? any thoughts

Re: Chase Bank Portfolio Department

CreditCuriosity — Mon, 04 Dec 2017 00:41:51 GMT

They can SP any creditor they want froozen or unfroozen being a current creditor

Re: Chase Bank Portfolio Department

Anonymous — Mon, 04 Dec 2017 02:32:44 GMT

Let us know what happens. According to the DoC most account holders were able to have their accounts reinstated after speaking with lending department. (fingerscrossed)

https://www.doctorofcredit.com/chase-cancelling-accounts-recent-card-applicants-deem-risky/