topic Re: No Love from Chase Freedom! in Credit Cards

No Love from Chase Freedom!

ElMayimbe — Mon, 30 Apr 2012 22:31:29 GMT

Need anyones, everyones advice. I app'd for the Chase Freedom card, I was given the ' your application needs further review' notice, so I called one of the back door numbers to recon a couple days after. I tried 3 times hoping a different analysist would hear me out, I had some 30 day lates being reported one of which was 10 months aged. I was told the reasons 1. time since dilinquency is too recent or unknown, 2. Amount owed is too high ( my utlization is/was at 3%, the pulled EQ which reporting high owed on a car loan?) 3. Delinq reported on account ( lates), 4. Lenght of time accounts have been established ( New CC in December 2011 lowered AAoA).

Should I try again if so when?

Re: No Love from Chase Freedom!

RyVision — Mon, 30 Apr 2012 22:41:56 GMT

Chase is a bit finicky, they like to see fairly long history with near spotless reports (whoever they pull that is). If you can't get the lates removed, you might have to wait at least another 6 months. Chase also seems to like fairly thick credit files, showing the person has handled credit well with more than a couple accounts. At least this is what I've read about them for years. I won't waste an INQ on them for some time and my reports are spotless with 16 accounts showing, one of them being an AU Freedom.

Re: No Love from Chase Freedom!

ElMayimbe — Tue, 01 May 2012 00:38:53 GMT

Thanks for the input, anyone else care to chime in?

Re: No Love from Chase Freedom!

Walt_K — Tue, 01 May 2012 00:47:44 GMT

I don't think you need to be spotless, but maybe give it some more time. I was approved for Chase Freedom today. I have 7 accounts with lates, ranging up to 150 days late, but the lates are over three years old. 10 months might be too recent.

Re: No Love from Chase Freedom!

Anonymous — Tue, 01 May 2012 01:27:19 GMT

Give it more time. Last thing you want is to be given a low limit card that won't grow as your credit improves.

Re: No Love from Chase Freedom!

ElMayimbe — Tue, 01 May 2012 01:58:33 GMT

I'll be gardening for 6 months, hopefully that's enough time?. Forgot to mention EQ was at 701 when Chase pulled and after denial I opened Banking account with Chase, I've read some positive things regarding triple the benefits --- Checking/Savings, Freedom, and Sapphire. Any truth to that? Hoping at least if they see me as a existing customer the app will have better approval odds.

Re: No Love from Chase Freedom!

boomhower — Tue, 01 May 2012 10:50:34 GMT

Pretty much all the major credit card companies are going to cringe at a late within the last year. Let it age a bit more.

Re: No Love from Chase Freedom!

Anonymous — Tue, 01 May 2012 13:43:30 GMT

@ElMayimbe wrote:
I Ihad some 30 day lates being reported one of which was 10 months aged.

This is really what's killing you. Having these removed or further aged might help, but the second point needs more time.

I'd do whatever I could to have that removed.

Re: No Love from Chase Freedom!

ElMayimbe — Wed, 02 May 2012 23:39:12 GMT

Received pre-selected offer for Amex Gold,Green, and Zync. What does pre-selected mean anyhow? wondering if this is because they are charge cards?

Re: No Love from Chase Freedom!

ElMayimbe — Thu, 03 May 2012 00:46:29 GMT

BUMP

Re: No Love from Chase Freedom!

Walt_K — Thu, 03 May 2012 00:51:05 GMT

@ElMayimbe wrote:
Received pre-selected offer for Amex Gold,Green, and Zync. What does pre-selected mean anyhow? wondering if this is because they are charge cards?

Very little. It means you meet some vague demographic criteria of people they want to target. It's not a guarantee that you will be approved.