topic Re: Chase CSP Denied - Best way to get approved? in Credit Cards

Chase CSP Denied ....APPROVED!!!!!

Anonymous — Mon, 17 Sep 2012 19:58:08 GMT

So I apped and got the 7-10 business day wait. I decided just to call the next day and ask what's up. I did, and the declined me due to too few revolving accounts and mainy none that have a 5k limit or more....I explained that I have two amex a discover and their freedom. I told her my internal limit on my amex is over 5k. She reconed me and said it was still a no go because I reported a $100 limit on the amex. False that is just what was on their when my statement cut. I explained I had just put and pif a $3k bill on there. She said that once that reported and they saw it ont there I would most likely be good to go. Cool I thought. I will just wait for it to report on CK, which means TU has it reported.....Today I checked and it updated.....BUUUTTTT.....it reported $0! FU** thats right! I paid in full two days before my statement cut. So the 3k that would have reported is now $0...

SO I thought I would be gtg, but I have a feeling I won't be able to talk my way out of this one. Running $3k is not normal for me so unless I start paying friends bills which would be a huge pain I won't be getting up there anytime in the foreseeable future.

Is there any explanation I can tell them you can think of? IM SO CLOSE

THX

*****I called back today and explained what I stated above. Along with the fact the balance should still report in some way. She put me on hold for 5 minutes came back and approved me for 5k.....AWESOME

THANK YOU FOR THE HELP GUYS/GALS

Re: Chase CSP Denied - Best way to get approved?

jsucool76 — Mon, 17 Sep 2012 01:47:40 GMT

You can always try a second recon? Do you happen to bank with chase at all, if so make sure you bring that up.

Re: Chase CSP Denied - Best way to get approved?

LS2982 — Mon, 17 Sep 2012 01:53:02 GMT

@Anonymous wrote:
So I apped and got the 7-10 business day wait. I decided just to call the next day and ask what's up. I did, and the declined me due to too few revolving accounts and mainy none that have a 5k limit or more....I explained that I have two amex a discover and their freedom. I told her my internal limit on my amex is over 5k. She reconed me and said it was still a no go because I reported a $100 limit on the amex. False that is just what was on their when my statement cut. I explained I had just put and pif a $3k bill on there. She said that once that reported and they saw it ont there I would most likely be good to go. Cool I thought. I will just wait for it to report on CK, which means TU has it reported.....Today I checked and it updated.....BUUUTTTT.....it reported $0! FU** thats right! I paid in full two days before my statement cut. So the 3k that would have reported is now $0...

SO I thought I would be gtg, but I have a feeling I won't be able to talk my way out of this one. Running $3k is not normal for me so unless I start paying friends bills which would be a huge pain I won't be getting up there anytime in the foreseeable future.

Is there any explanation I can tell them you can think of? IM SO CLOSE

THX

What other credit lines do you have?

Re: Chase CSP Denied - Best way to get approved?

Revelate — Mon, 17 Sep 2012 03:04:39 GMT

There's no harm letting a balance report on an Amex under either of the FICO '04 or FICO '08 models which pretty much every large lender now uses rather than the older '98 version.

Charge cards and some other FSA's / Signature style cards don't report a credit limit, and only the high balance gets reported. For some lenders this means you actually need to let a high balance report for some month (ideally when you're not applying for anything) in order for FICO to use that in it's utilization calculations as not all will take the highest balance over the course of the month and post that... or in the case of charge cards, so that lenders can see that Amex actually trusts you with X amount on an internal limit even if FICO won't care.

Re: Chase CSP Denied - Best way to get approved?

bichonmom — Mon, 17 Sep 2012 04:32:52 GMT

@Anonymous wrote:
So I apped and got the 7-10 business day wait. I decided just to call the next day and ask what's up. I did, and the declined me due to too few revolving accounts and mainy none that have a 5k limit or more....I explained that I have two amex a discover and their freedom. I told her my internal limit on my amex is over 5k. She reconed me and said it was still a no go because I reported a $100 limit on the amex. False that is just what was on their when my statement cut. I explained I had just put and pif a $3k bill on there. She said that once that reported and they saw it ont there I would most likely be good to go. Cool I thought. I will just wait for it to report on CK, which means TU has it reported.....Today I checked and it updated.....BUUUTTTT.....it reported $0! FU** thats right! I paid in full two days before my statement cut. So the 3k that would have reported is now $0...

SO I thought I would be gtg, but I have a feeling I won't be able to talk my way out of this one. Running $3k is not normal for me so unless I start paying friends bills which would be a huge pain I won't be getting up there anytime in the foreseeable future.

Is there any explanation I can tell them you can think of? IM SO CLOSE

THX

If all they want to see is that you have put that much thru Amex, then if they pull your CR again, they will see that your "high balance" on that card is $3k. That ought to prove your point about the internal limit on your Amex.

Your "high balance" will report to the CRAs, regardless of the bal on the stmt.

Re: Chase CSP Denied - Best way to get approved?

Anonymous — Mon, 17 Sep 2012 05:01:36 GMT

in addition to what bichonmom stated, I don't know if you have looked at your CR or not, but Experian does infact report your monthly payment on each individual card on a monthly basis. That would also shows you indeed used the card and have the ability to pay back.

Re: Chase CSP Denied - Best way to get approved?

cashnocredit — Mon, 17 Sep 2012 05:49:29 GMT

@Anonymous wrote:
in addition to what bichonmom stated, I don't know if you have looked at your CR or not, but Experian does infact report your monthly payment on each individual card on a monthly basis. That would also shows you indeed used the card and have the ability to pay back.

this reporting by EX of payments made is fairly new. It's only a couple years old and not all banks do it. It's likely bank analytics don't use it either not to mention there is no chance FICO yet includes this info in its scores. Yet.

Re: Chase CSP Denied - Best way to get approved?

Anonymous — Mon, 17 Sep 2012 19:30:54 GMT

Bump Got Approved!!!

Re: Chase CSP Denied - Best way to get approved?

Anonymous — Mon, 17 Sep 2012 19:43:01 GMT

congrats nice job

Re: Chase CSP Denied - Best way to get approved?

djrez4 — Mon, 17 Sep 2012 19:45:29 GMT

@Anonymous wrote:
Bump Got Approved!!!

Congrats! Important details? Scores, income, goodies/baddies?

Re: Chase CSP Denied - Best way to get approved?

Anonymous — Mon, 17 Sep 2012 19:56:07 GMT

Ames Gold - NPSL

Amex Zync- NPSL

Chase Freedom - $500 (**bleep**)

Discover IT - $1500

BofA - $3000

All Cards except for the bofa are no more than 3 months old.

Had two collections that I did not know about (long story) I pif both of those last month.

Stated income $35k

EQ - 680ish TU - 730 EX - 740

Re: Chase CSP Denied - Best way to get approved?

gettnthere — Mon, 17 Sep 2012 20:13:14 GMT

wow, thats Awesome! Congrats!!

Re: Chase CSP Denied - Best way to get approved?

CS800 — Mon, 17 Sep 2012 20:07:42 GMT

@Anonymous wrote:
Bump Got Approved!!!

Congrats !

What CL did they give you?

Re: Chase CSP Denied - Best way to get approved?

djrez4 — Mon, 17 Sep 2012 20:11:56 GMT

@Anonymous wrote:
Ames Gold - NPSL
Amex Zync- NPSL
Chase Freedom - $500 (**bleep**)
Discover IT - $1500
BofA - $3000

All Cards except for the bofa are no more than 3 months old.

Had two collections that I did not know about (long story) I pif both of those last month.

Stated income $35k

EQ - 680ish TU - 730 EX - 740

Ah, thanks. And who'd they pull? Probably not EQ..

Re: Chase CSP Denied - Best way to get approved?

Anonymous — Mon, 17 Sep 2012 20:17:44 GMT

5K.......idk, but I told them that tu updated the new balance I put through the amex last month so probably them I'm guessing?

Re: Chase CSP Denied - Best way to get approved?

Jlu — Mon, 17 Sep 2012 20:20:52 GMT

LOL @ 500 Chase Freedom and 5k CSP - nice pair!

Re: Chase CSP Denied - Best way to get approved?

Anonymous — Tue, 18 Sep 2012 03:52:53 GMT

I just got the denial letter from my initial request before I reconed.

Reason for be denied are:

-Too many inquiries in the last 3 months.

-Too many accounts open in the last month (referring to my freedom and IT)

-Not enough revolving credit estabilished in the last 2 years

-Two open collections

Hmm weird. Thats alot of reasons why. NOT 1 of those reasons was brought up in my recon. The only thing they were worried about is this would be my first 5k limit? Thats it. WeIrD....