topic Re: the waiting game in Credit Cards

the waiting game

afbar1114 — Thu, 15 Mar 2012 23:29:39 GMT

i never had an app say it needs further review i had the instant approval and the 7-10 days never pending like this before.....anyone else have this at some point? BTW this is for the Chase Freedom

Re: the waiting game

Anonymous — Thu, 15 Mar 2012 23:31:28 GMT

Did you call the recon line to ask?

Re: the waiting game

Anonymous — Thu, 15 Mar 2012 23:33:00 GMT

Nevermind I saw from another thread that you did call. That's strange...usually they are more informative than that.

Re: the waiting game

Anonymous — Thu, 15 Mar 2012 23:33:49 GMT

My freedom app said it was pending review. About a week later I spoke to a CSR and they transferred me over to the lending department. Turns out they denied me, but they automatically offered to recon it. Ended up having to fax in a copy of my ID and SS card for verification, so it took a bit longer for the whole process.

But if you're impatient for an answer (and really, who isn't?) just call the app status line, then talk to a CSR and ask them about it. They might be able to let you know what's going on.

Re: the waiting game

afbar1114 — Thu, 15 Mar 2012 23:50:25 GMT

i dont get it i already have the slate....

i am hoping to log on to my account in the next few days and get a surprise lets say my freedom shows up. called CSR back door number says that they like i have a savings and checking and anthor card that they might be trying to figure out what my CL is going to be..

Re: the waiting game

afbar1114 — Fri, 16 Mar 2012 00:10:51 GMT

still waiting.....and waiting.....i just want to know if its a yes or no..i hate waiting

Re: the waiting game

Anonymous — Fri, 16 Mar 2012 00:40:49 GMT

It took me about 3 weeks to get the actual final approval on it, and just under a month to get the card (applied in Feb 15th, it came in on March 12th). I'm sure not everyone will have to wait as long, but after I'd asked about it a few times they basically told me to stop calling since there was no way to rush the process.

Re: the waiting game

laboi_22 — Fri, 16 Mar 2012 00:56:36 GMT

I hate to be Negative Nancy but Chase will most likely do 2 things: deny the application or approve it with a $300-500 CL. Also you will get a high APR. That's just how Chase does business. They also don't give CLIs without HPs and are know for denying the request wasting a HP. When applying with Chase in order to get a decent CL you must have no baddies, few to no inquires, and low UTL. Also AAOA must be 2 years or more. If you get the Freedom now, you will be stuck with a low limit card that won't grow. You will have to close it later and reapply when your CR is in good shape in order to get a good Freedom card.

Re: the waiting game

afbar1114 — Fri, 16 Mar 2012 01:25:08 GMT

Chase i dont think lets you sit a cl like hsbc does it may take time but i think CLIs will happen no matter what your cl is plus i have 401ks savings checking and slate with them

Re: the waiting game

afbar1114 — Fri, 16 Mar 2012 01:38:07 GMT

i applied for chase 6-8 months ago got the 7-10 day notice....applied for slate in jan got a $500 CL with 0%apr for 15 months you will only get this you have good credit...CL was a trial bases and will get CLI's at some point a bunch of CSR's and the chase exce office told me this. i apple for chase a few times over the past few years always 7-10 days..this time with freedom said pending and may take 30 days...2 CSR's and a exec CSR said they are varyifying stuff...i did put i was a student making 25k a year at job for 7 years... CSR's said if they wanted to deny it they would have right away

Re: the waiting game

laboi_22 — Fri, 16 Mar 2012 01:39:15 GMT

Well good luck. I hope you get approval. I do know that Chase rarely does auto CLIs. In fact a Chase credit analysts supervisor told me that they are only doing customer initiated CLIs. I know close friends with Chase checking, savings, etc and their cards are stuck at low CLs. They don't want a HP so they don't request. Chase is very frustrating in that regards. I took 2 HPs after a year of having a 1000 CL before they approved me. At the time they approved me they first declined me then I reconed. It took an hour to convince them I deserved at least 3000. At the time my score was 715-720 FICO they pulled EX and TU. No inquiries at the time and 5% UTL and they had trouble approving me. I'm not a fan of Chase. Good luck though.

Re: the waiting game

afbar1114 — Fri, 16 Mar 2012 01:50:28 GMT

@laboi_22 wrote:
Well good luck. I hope you get approval. I do know that Chase rarely does auto CLIs. In fact a Chase credit analysts supervisor told me that they are only doing customer initiated CLIs. I know close friends with Chase checking, savings, etc and their cards are stuck at low CLs. They don't want a HP so they don't request. Chase is very frustrating in that regards. I took 2 HPs after a year of having a 1000 CL before they approved me. At the time they approved me they first declined me then I reconed. It took an hour to convince them I deserved at least 3000. At the time my score was 715-720 FICO they pulled EX and TU. No inquiries at the time and 5% UTL and they had trouble approving me. I'm not a fan of Chase. Good luck though.

i am already in with chase with slate

i think with me having my checking there they know how much i take it .. i have never had a problom with chase at all...i over drew once because a charge from my debit card came in 2 weeks later and it over drew it a few years ago and they waived the fee for me...they have been great to me for the past 3-4 years i had them

ethier way ill know where i stand..if i get it i get it and finally got the freedom or if i dont ill know what i need to work on

Re: the waiting game

CreditScholar — Fri, 16 Mar 2012 02:33:01 GMT

@laboi_22 wrote:
Well good luck. I hope you get approval. I do know that Chase rarely does auto CLIs. In fact a Chase credit analysts supervisor told me that they are only doing customer initiated CLIs. I know close friends with Chase checking, savings, etc and their cards are stuck at low CLs. They don't want a HP so they don't request. Chase is very frustrating in that regards. I took 2 HPs after a year of having a 1000 CL before they approved me. At the time they approved me they first declined me then I reconed. It took an hour to convince them I deserved at least 3000. At the time my score was 715-720 FICO they pulled EX and TU. No inquiries at the time and 5% UTL and they had trouble approving me. I'm not a fan of Chase. Good luck though.

I don't blame Chase one bit for only giving customer initiated CLIs. We're currently in an economy where risk-minimization is the name of the game. BofA is even worse with CLDs, closing accounts, and AAs in general.

Hard pulls for CLIs make people think twice about whether or not it's really important to them. Chase doesn't want to grant any additional credit beyond what is necessary, and they figure that if it's that important to you then you'll ask for one yourself.

Re: the waiting game

laboi_22 — Fri, 16 Mar 2012 02:48:16 GMT

I do not disagree with you about Chase being stingy in this economy. This does not however change or dispell the fact that they are hard to deal with thus proving my point in regards to general Chase frustration.

Re: the waiting game

CreditScholar — Fri, 16 Mar 2012 03:21:11 GMT

I can't speak for anyone else, but I think it's true of many other banks and not just Chase. BofA has been a real pain to deal with lately, and I've been a very good client of theirs for quite awhile. If you ask most people, they'll say banks in general are difficult to deal with these days. It sounds like Chase is no exception to the this.

Re: the waiting game

laboi_22 — Fri, 16 Mar 2012 03:31:37 GMT

Never had any problems with BofA. Have been a customer a very longtime. No problems with Discover. No problems here with AMEX at all. Actually AMEX is my favorite then BofA. I think what I mean is I understand Chase's motives. This is why I make sure to apply for cards only when my CR is perfect. I can't expect Chase to give me the best terms with less than stellar credit. They may approve you but you will be frustrated while trying to get better terms including CLIs. This was my original point. If approved, good luck getting them to approve lower aPR requests, CLIs etc. You have to get your CR in order, close the account, and reapply to get better terms. I learned that the hard way and now I just garden garden garden.

Re: the waiting game

clocktick — Fri, 16 Mar 2012 06:27:59 GMT

I was denied the Chase Freedom and then reconed and got a $5k limit. I had to talk to the security department to confirm my identity and then wait, wait and wait some more.

Good luck and please keep us updated!

Re: the waiting game

Anonymous — Fri, 16 Mar 2012 06:32:22 GMT

@clocktick wrote:
I was denied the Chase Freedom and then reconed and got a $5k limit. I had to talk to the security department to confirm my identity and then wait, wait and wait some more.

Good luck and please keep us updated!

Yeah, I found out a week after applying that I was denied, so I ended up reconning it and they approved it, but I had to talk to their fraud department to verify my identity. That took them.. something like 10+ days. And that was with the docs being faxed in, not even waiting on the mail.

Re: the waiting game

LS2982 — Fri, 16 Mar 2012 10:03:28 GMT

Fingers crossed for you Appbar!!!!!

Re: the waiting game

afbar1114 — Fri, 16 Mar 2012 13:45:06 GMT

Spoke to csr again said they havent even pulled a report yet...but my co is paid now wasnt when i got slate and it has good history as does my other accounts with them