topic Re: Multiple Chase recon attempts (CSP) UPDATED EXECUTIVE OFFICE in Credit Cards

Multiple Chase recon attempts (CSP) UPDATED EXECUTIVE OFFICE PART 2

Jlu — Thu, 25 Oct 2012 16:50:13 GMT

I jumped the gun and apped for the CSP last night. I got the 7-10 message - no surprise there. I waited until this afternoon to call the backdoor number to see what the status was. The analyst cited high inquiries as my only negative. He also States that without Chase my highest limit would be 1500 from Discover. At this point I said thanks for your help, I never asked for a recon and he didn't offer.

Tonight after dinner I call the backdoor number again to plead my case except this time I asked for a recon. He was citing nothing but high inquiries the whole time. I ask for a recon and he places me on hold for 3 to 5 minutes. He does not have the good news that I am used to hearing. He basically told me that my 20+ inquiries were hurting my chances of an approval. So I thanked him for his consideration and promptly hung up the phone.

Now, I've heard of people calling and calling and calling until they get an approval. I don't want to be that guy. I do not however want to waste an inquiry.

Can you guys talk me into calling once more tomorrow and possibly give me some tips for explaining away inquiries? They are all non-morgage and non-auto loan inquiries. A lot from damn Cap and the 3-bureau CLI requests

Re: Multiple Chase recon attempts (CSP)

Eschaton — Tue, 23 Oct 2012 03:17:14 GMT

I don't want to burst your bubble here.

Chase only pulls one CRA, that means you have 20 inquiries on whichever agency they pulled from. They pulled Experian for me (and most people it seems like), but Equifax pulls are quite common also. While Capital One does pull all three agency, it's one hit on each.. not all three on the same one.

That, and CSP minimum is a $5000 CL, odds of you getting approved are fairly astronomical if your highest limit at this point is $1500.

I don't know if you want to attempt a recon after hearing that, but since you took the hit, you may as well attempt it one more time.

EDIT: Wait, you have a $9000 limit on one card, I would definitely bring that up, Definately would not hurt to attempt a recon. But 20 inquiries is a lot nonetheless.

EDIT Again >.>: He speciflly said that besides Chase, thie highest would be $1500? That's peciular.. I'm no expert, maybe someone else could chime in here with their experiences with Chase recon. I personally reconn'ed twice for the Freedom, they didn't give me a specific reason why I was denied the first time around though.

Re: Multiple Chase recon attempts (CSP)

Anonymous — Tue, 23 Oct 2012 03:14:29 GMT

Chase pulled two on me. EX and EQ

Re: Multiple Chase recon attempts (CSP)

ceejx — Tue, 23 Oct 2012 03:27:41 GMT

@Anonymous wrote:
Chase pulled two on me. EX and EQ

Chase Freedom App: EQ

Chase Sapphire App: EX (2 days later)

Re: Multiple Chase recon attempts (CSP)

Jlu — Tue, 23 Oct 2012 03:36:03 GMT

Thanks for the advice guys. IF SOMEONE has a number or name other than the main recon number listed on the backdoor thread a PM would greatly be appreciated. The CSP is the last and final card that will finish off my lineup so I do really want it. Thus I'm willing to devote a decent amount of time to securing an approval.

Re: Multiple Chase recon attempts (CSP)

navigatethis12 — Tue, 23 Oct 2012 03:35:37 GMT

I rang three times and no go unless I moved credit which I did not want to do, so I missed the $500 . Anyway, you could try lowering the JP Morgan Select to 5000 and the Freedom to 1000; that would make up the 5000 needed to obtain the Chase Sapphire Preferred.

I think it really weird that the inquiries reason varies so much. I have a lot and have never really had a problem with getting a card or an increase because of them.

Re: Multiple Chase recon attempts (CSP)

n777ua — Tue, 23 Oct 2012 03:35:40 GMT

Just remember, every time you have an encounter its noted. They'll see that you've called twice and were specifically denied once. I guess 3 times calling isn't extreme, but if you do call again and get denied, I'd leave it alone. Its also possible (although unlikely) they'll snoop around and maybe not like what they see, and in addition to your CSP denial, you'll get an unwelcome CLD. (Not saying its likely at all, but whenever you get someone manually reviewing reports this is possible)

Re: Multiple Chase recon attempts (CSP)

youngandcreditwrthy — Tue, 23 Oct 2012 03:37:19 GMT

Pulled eq&exp for me. Took me two recons to get approved for a $5k Chase Freedom :-) 20+ inqs is a heck of a lot :-/

Re: Multiple Chase recon attempts (CSP)

CreditScholar — Tue, 23 Oct 2012 09:33:48 GMT

@youngandcreditwrthy wrote:
Pulled eq&exp for me. Took me two recons to get approved for a $5k Chase Freedom :-) 20+ inqs is a heck of a lot :-/

You really should wait until those INQs wear off. 20 is way too high and I don't think they'll budge on that.

Re: Multiple Chase recon attempts (CSP)

maiden_girl — Tue, 23 Oct 2012 11:59:59 GMT

Chase didn't pull my credit initially and I applied for 2 chase cards a few days behind each other. On my CR, I only have one inquiry. The first card I applied for, no pull. The second, a hard pull. It was really weird. Chase used an internal scoring system the first time around. I think its all YMMV kind of thing. They pulled Experian for me.

I would call Chase up again and request another recon. Explain the reason for all the inquires and pray! Don't take a HP for nothing!

Re: Multiple Chase recon attempts (CSP)

armbenderc — Tue, 23 Oct 2012 12:15:15 GMT

@Jlu wrote:
Thanks for the advice guys. IF SOMEONE has a number or name other than the main recon number listed on the backdoor thread a PM would greatly be appreciated. The CSP is the last and final card that will finish off my lineup so I do really want it. Thus I'm willing to devote a decent amount of time to securing an approval.

PM'd you.

Re: Multiple Chase recon attempts (CSP)

Revelate — Tue, 23 Oct 2012 15:26:32 GMT

Maiden: I'd check your other reports if you haven't honestly; what you describe would be highly irregular behavior and Chase is pretty well known not only to make HP's but also to pull different bureas for repeated applications (which makes a lot of sense actually).

You may have just gotten lucky, but even any lender's internal score approval is still going to lodge an inquiry for a new card. Sure they color outside the lines on SP CLI's but to not pull on a first approval, lottery-winner rare.

Re: Multiple Chase recon attempts (CSP)

Anonymous — Tue, 23 Oct 2012 16:00:11 GMT

20 inqs is a lot, but as long as a significant portion is over 1 year ago thats usually not a big deal, especiallyy if you can explain that many were from auto shopping(if thats true). One thing to consider also is total exposure limit. if you get a CSP, thats at least 5000 more, theyre already giving you 11000. they may not want to give you 16000 right now. In that case, you could try moving over 1K or 2K from the JPMS and see if you can get it.

Re: Multiple Chase recon attempts (CSP)

distantarray — Tue, 23 Oct 2012 16:25:34 GMT

One way you can help get a CSP is if you have an checking / savings with Chase, I've been told many times by my bank manager clients (i have 5 Chase managers) that if you have over $10,000 in their accounts it really improves your chances. My dad has an account with Chase Ink for his business for 12 years and with a 666 Fico got approved for a CSP. Which normally takes 720+ to do.

Re: Multiple Chase recon attempts (CSP)

djrez4 — Tue, 23 Oct 2012 18:54:51 GMT

I got my CSP on one recon with a 664 EX FICO and nine inquiries in the last six months.

They cited inquiries, high balances, and short history for me. I explained that four out of the nine inquiries were auto loan shopping and two were Chase and that the balances were all paid off. The representative and I chatted about the trip to Europe that my wife and I are planning and how I'd like to have a travel card with no Forex fees. I also have personal and business accounts with Chase that see an average of $7-8k through them every month. The balance is usually around $5k.

I'm not sure if you'll be able to explain the inquiries away like I did, but if you have a reasonable justification for your application you may be able to convince them. I really don't know what that justification would be, given that you have the Select and it has all of the perks of the CSP except the UR points. Telling them you want to earn more points usually doesn't work.

Re: Multiple Chase recon attempts (CSP)

webhopper — Tue, 23 Oct 2012 19:04:22 GMT

@CreditScholar wrote:
@youngandcreditwrthy wrote:
Pulled eq&exp for me. Took me two recons to get approved for a $5k Chase Freedom :-) 20+ inqs is a heck of a lot :-/
You really should wait until those INQs wear off. 20 is way too high and I don't think they'll budge on that.

+1.. I got declined for my amazon card, they cited inqs... the good news for me is that they were ALL mortgage related. I hadn't applied for a credit card in over 2 years when I had apped for my chase amazon card, and then applied for zync right after that

Re: Multiple Chase recon attempts (CSP)

youngandcreditwrthy — Tue, 23 Oct 2012 20:27:15 GMT

I had like maybe 1-2inqs in six months when I got approved for freedom.

Why not just keep doing what you're doing...garden for six months, get some clis on current cards, and then try again.

Personally, I'm beginning to learn that building credit can't be rushed.

Re: Multiple Chase recon attempts (CSP)

Jlu — Tue, 23 Oct 2012 20:48:35 GMT

See, most of my inquiries were from applying prematurely for cards I didn't yet qualify for. Having just hit 600's I got excited and went apping for a lot of GE/store/gas cards thinking 'how hard could it be?'. Also then getting excited again when I hit 650 and apping for BoA/Citi cards. The success stories for Zync (RIP) were encouraging enough to make me app once a month for the past year to no avail (AMEX hates me). Asking for CLIs without knowing about HP's were brutal too. Not to mention apping for Cap1 cards when I already had 2 was a mistake. All these rebuilding-related HP's are what brought me to the 20 inquiries that I now stand at. STILL though, I had 18 of them on here when I was approved for the JP Morgan Select - but I swear that was a fluke.

We all have our 'one lucky break' in the credit game. It's that situation of pure luck where you obtain something that common wisdom tells you that you've got no business having, yet you got it anyways. Whether it's the guy who got the $10k initial CL from Discover recently, ~~Tanner~~ with his alleged Centurion & Palladium, the Cap1 $10k CLI guy, or the guy with the AMEX Platinum 1 yr post-BK. We all got a story.

Re: Multiple Chase recon attempts (CSP)

distantarray — Tue, 23 Oct 2012 20:52:27 GMT

I don't have a story =( Although my credit was 400's last year =x Now I have CL little over 50k including AU. Last month was 10k , and a personal of $3,900 =x

Re: Multiple Chase recon attempts (CSP)

youngandcreditwrthy — Tue, 23 Oct 2012 22:24:49 GMT

The reason why that is is because banks have to spread credit risk... At least that's what I think... Someone with an 800 fico is basically never going to default, but someone with a 600 fico might default...so it just seems as though every once in a while, a guy with a 600 fico ends up with a card that should be given to a guy with an 800 fico lol :-P