topic Re: Interesting Rejection Response From Chase in Credit Cards

Interesting Rejection Response From Chase

thom02099 — Sat, 10 Sep 2011 02:56:00 GMT

Applied on line for Chase Slate Platinum Visa, got the proverbial message that application received and is being evaluated, response in 7-10 days. Just got a rejection in the mail that said "You already have the maximum amount of credit we can offer you". That came as a surprise, since I only have Best Buy/Chase with CL of $2200 (my smallest CL) with a current <30% UTI; never late on that account, in fact just paid it off, and charged a laptop on it, rest of my CR is squeaky clean, nothing derogatory at all, and in fact, scores have gone up since mid-August. They pulled EX, but in the rejection, they did not indicate the score. At the first of the month, it was 717, now it's 730 and not all of my paid accounts are showing as paid.

So, I'm thinking about calling for a Recon, and if they balk at having 2 Chase accounts (which I can't imagine why they would), suggest to them that we close the Best Buy/Chase account and transfer to a Slate card with the current balance intact. Alternatively, I may suggest to them that they do hard pulls of EQ and or TU for reconsideration, since those scores are currently 746 and 777.

Any ideas or suggestions? Is this a sound plan?

Re: Interesting Rejection Response From Chase

jason86423 — Sat, 10 Sep 2011 03:01:44 GMT

I would definately call for a Recon! If they don't budge move on from Chase to someone else. Chase is way too quirky!

Re: Interesting Rejection Response From Chase

Scuba — Sat, 10 Sep 2011 03:01:46 GMT

In another thread, someone mentioned you can have up to 7 cards.

If you execute your plan, make sure you report back please and let us know how it worked out.

Re: Interesting Rejection Response From Chase

thom02099 — Sat, 10 Sep 2011 03:09:11 GMT

Yup, actually I applied for Chase Sapphire at the same time, they rejected due to too many inquiries. I sort of expected that, and expected that answer for Slate as well, rather than the answer I got.

I have in fact, applied for, and been approved for AMEX Clear, AMEX Zync, Citi Diamond Preferred MC ($6800 CL) AND Discover More ($3600 CL), all in the past few weeks! The interesting part was that all except Citi pulled EX (I'm in Colorado), when I expected Discover to pull EQ or TU. So there were 3 new inquiries for EX with the 2 AMEX and Discover pulling EX as well. Figured Chase would reject just because of that.

Re: Interesting Rejection Response From Chase

score_building — Sat, 10 Sep 2011 04:04:04 GMT

Not sure how Chase is with recon and nothing to lose by trying but, as you say, the fresh inqs (and accts when they report) may make them more than a bit nervous.

With the exception of Amex (under certain conditions) it can be a somewhat unlikely approach to app for multiple revolving products from the same issuer at once IMO, YMMV.

Re: Interesting Rejection Response From Chase

android01 — Sat, 10 Sep 2011 03:39:51 GMT

@thom02099 wrote:
Applied on line for Chase Slate Platinum Visa, got the proverbial message that application received and is being evaluated, response in 7-10 days. Just got a rejection in the mail that said "You already have the maximum amount of credit we can offer you". That came as a surprise, since I only have Best Buy/Chase with CL of $2200 (my smallest CL) with a current <30% UTI; never late on that account, in fact just paid it off, and charged a laptop on it, rest of my CR is squeaky clean, nothing derogatory at all, and in fact, scores have gone up since mid-August. They pulled EX, but in the rejection, they did not indicate the score. At the first of the month, it was 717, now it's 730 and not all of my paid accounts are showing as paid.

So, I'm thinking about calling for a Recon, and if they balk at having 2 Chase accounts (which I can't imagine why they would), suggest to them that we close the Best Buy/Chase account and transfer to a Slate card with the current balance intact. Alternatively, I may suggest to them that they do hard pulls of EQ and or TU for reconsideration, since those scores are currently 746 and 777.

Any ideas or suggestions? Is this a sound plan?

I don't believe that Chase will PC a co-branded card with one of their branded ones.

Re: Interesting Rejection Response From Chase

creditguy-378 — Sat, 10 Sep 2011 20:10:52 GMT

best buy is hsbc and they are selling it to capital one

Re: Interesting Rejection Response From Chase

flyingmd — Sat, 10 Sep 2011 20:24:40 GMT

Chase will give you a maximum amount of credit that they are comfortable with, but there is no limit on the number of cards. What they will very likely do if you call the backdoor is split some of the credit off your other card and put it on a new card 9for instance drop the CL on your current card to 1200 and give you the new card with a 1200 CL). Don't know if this is a good option for you but if they deny on the reconsideration it is something you could ask for and then shoot for CLI in a couple of months.

Re: Interesting Rejection Response From Chase

Anonymous — Sat, 10 Sep 2011 20:29:57 GMT

@thom02099 wrote:
Applied on line for Chase Slate Platinum Visa, got the proverbial message that application received and is being evaluated, response in 7-10 days. Just got a rejection in the mail that said "You already have the maximum amount of credit we can offer you".

This may be a bit different ... I have 3 ccs with Chase and requested CLI, then got same excuse. What they told me is I already have total CL of 23.6k along with them and more with others. By Debt to Income % ... they won't approve me for CLI. So, I requested to shift 2k from one to another, then they did it for me.

I don't know your financial status is ... if your income is not enough for them to approve, may be the same reason. Not sure ...

Re: Interesting Rejection Response From Chase

thom02099 — Sat, 10 Sep 2011 21:05:50 GMT

"best buy is hsbc and they are selling it to capital one"

Best Buy is HSBC and Chase. My account was an old Circuit City account that ported over by Chase to Best Buy when Circuit City went under. When you go to the Best Buy site to pay bills, there's a choice between HSBC and Chase.

I know that Chase is very conservative in their practises. I got a CLI from them from $1500 to $2200 on my Chase/Best Buy account. That's my smallest

CL of all my accounts. I'm thinking in agreement with others that they may do the split thing on my account, but I'm going to push for just a recon on the Slate card,and say "to heck with the Sapphire"! . My revolving credit debt right now is around $700 on all my accounts, UTI <1%, my installment accounts are around $22K, auto loan soon to pay off in 2 months,and my income is in the $60-$70K range with household income over $90K. When I chatted with a Chase rep on line, he seemed to think I had the ideal profile for a Chase customer. I guess we shall see!

Re: Interesting Rejection Response From Chase

Anonymous — Sun, 11 Sep 2011 04:52:12 GMT

Re: Interesting Rejection Response From Chase

thom02099 — Mon, 12 Sep 2011 14:58:56 GMT

Well I tried for the Recon, but the analyst that I talked to said that she couldn't get me approved, due to the number of inquiries on the account. That's the ONLY thing that

was holding me back from the Slate card, she said everything else, there was absolutely no problem with, my score and track record were fine. Just those darned inquiries. I may call again later this week to see if I can get a different Recon person.

Now, here's an irony. I also applied for, as my final ap of my spree, for a Bank of America Power Rewards Visa...and was APPROVED! Got an initial $5000 CL, this was not instant on line, but was instant approval when I called in. And guess what? They pulled EXPERIAN! What are the chances?? All of my pulls have been EX with one exception. So...now time to go into gardening mode for a year or two. I got what I wanted, so I'm happy about that.