topic Re: Chase Application Status in Credit Cards

Chase Application Status

Anonymous — Mon, 11 Feb 2008 06:09:38 GMT

Hello everyone. I am new here to this forum and thought I might ask a question of the knowledgeable posters here. I recently applied for the chase freedom card and received the dreaded under review message. My only problem with the deal as a whole is that I am a current Chase non-signature card cardholder of one of the lower limit higher APR cards. Here is the story from beginning to end, I called to convert my current card to a freedom card and the CSR told me that the freedom card had a $5000 limit minimum and my current card is a $1000 limit card. He told me that he needed to request a CLI in order to convert to the freedom if the CLI was approved. He then informed me that it was being reviewed and to just apply for the freedom card and combine the two cards when I got the approval. It came back as under review also, so I call the CSR(not credit specialist or UW) and ask the status. I was informed that the CLI was denied but the card application is still being reviewed and I will get something in the mail in 2 weeks. What are my options and chances? By the way my FICO scores are T-674, EX-694, EQ-654.

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 06:51:32 GMT

I assume, given the rep said you needed a minimum $5000 CL, that you applied for the Chase Freedom Signature card. Am I correct?

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 07:01:18 GMT

I was not sure as to what the CSR was trying for, kinda hard to understand his broken english. But I do know that it was some version of the Freedom card. Is that a bad thing if it is the signature? And what are the chances given that it does not say denied on the automated line or come up that way on the Reps screen for the card status?

It only tells them that I was denied for the CLI.

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 10:39:01 GMT

I can't answer your questions about your application status. Hopefully, someone else will come along and be able to answer these questions.

If you are either approved or not approved for the Chase card, let us know. If you're approved, do let us know if it's a Signature card. There are several threads that deal with some issues involving Chase Signature cards. If you're not approved, then there might be another option available to you.

I apologize if I wasn't much help.

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 11:12:25 GMT

I just contacted Chase's customer service department. You can convert your current $1000 CL Chase card to a non-Signature Freedom card. That is the option I was thinking of should you be not approved. So, see what happens with your application. And again, let us know.

Re: Chase Application Status

Dawn — Mon, 11 Feb 2008 13:55:57 GMT

collectnone wrote:
I was not sure as to what the CSR was trying for, kinda hard to understand his broken english. But I do know that it was some version of the Freedom card. Is that a bad thing if it is the signature? And what are the chances given that it does not say denied on the automated line or come up that way on the Reps screen for the card status?

It only tells them that I was denied for the CLI.

I think the CSR you spoke with was not familiar with the process to convert your original card to a Visa Freedom card. As Psychic mentions, they should have been able to convert ... and do so without all the complications of applying for a new card with an increased CL.

When you apply online for a Visa Freedom card, they automatically consider you first for the Signature level card (minimum $5,000 access line.) If you don't qualify for that, they consider the Platinum version of the card that has a set CL. That is probably what they are reviewing for now.

Edit: FWIW DS's friend has a Freedom card with a $500 CL ... so I wouldn't think that matching you up with a Freedom Platinum card with a $1,000 CL would be a problem.

This is what they say about processing a Visa Freedom application in their "Pricing & Terms / Terms & Conditions:"

Before we approve you for a credit card, we will review your credit report and the information you provide with your response to confirm that you meet the criteria for this offer. Based on this review, you may receive a Platinum card with different benefits and without the no pre-set spending limit feature, or you may not receive a card.

http://www.firstusa.com/cgi-bin/webcgi/webserve.cgi?pdn=pt_chase&card=B6C3&page_type=appterms

Message Edited by denbar2003 on 02-11-2008 07:55 AM

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 13:48:41 GMT

I had that same problem. you only get signature or world cards from visa/mc if you get approved for lines over 5000.00 some banks will approve you for platinum cards when you don't get signature. boa and chase never offered me that. I'd say your 30day letter is bad news.

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 14:05:44 GMT

I didn't get the 30 day letter, just a 7-10 day message. Although, that is irrelevant now. I spoke to an underwriter and he mentioned that the only thing holding it up is the address verification. He also recommended a $2000 limit and it is for the signature card too. Should know the final decision pretty soon as he said that he is recommending that it is approved.

Message Edited by collectnone on 02-11-2008 06:05 AM

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 14:14:17 GMT

collectnone wrote:
I didn't get the 30 day letter, just a 7-10 day message. Although, that is irrelevant now. I spoke to an underwriter and he mentioned that the only thing holding it up is the address verification. He also recommended a $2000 limit and it is for the signature card too. Should know the final decision pretty soon as he said that he is recommending that it is approved.

Message Edited by collectnone on 02-11-2008 06:05 AM

You might want to start reviewing some of the forum's threads on Chase Freedom Signature cards. If you type "Chase Freedom Signature" into the search box, you'll find a number of posts pertaining to this particular card.

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 15:14:10 GMT

It is the Platinum Freedom card. Do you think they will combine my current chase visa(6 mos old but high APR of 20.99%) with the new Freedom card?

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 16:27:46 GMT

collectnone wrote:
It is the Platinum Freedom card. Do you think they will combine my current chase visa(6 mos old but high APR of 20.99%) with the new Freedom card?

Thank goodness it's not the Signature Freedom card!!! I can't see any reason why Chase couldn't consolidate your present Visa card with the new Platinum Freedom card. By any chance, are you currently carrying a balance at a special introductory promotional rate?

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 17:37:11 GMT

No promotional period came with the other Chase card but it does have a $77 balance on it. Will that cause a problem?

Re: Chase Application Status

Anonymous — Mon, 11 Feb 2008 18:05:58 GMT

I don't think that a $77 balance should be a problem. Enjoy your new card when it arrives!

Re: Chase Application Status

Anonymous — Fri, 01 Jul 2011 18:22:14 GMT

Say what you want about the backdoor number. Didnt work for me. I had a paid collection from 4 years ago (under 100) and I opened 3 new accounts this year. Score of 691 and turned down after recon. Did no good to plead my case with them. 21 accounts never late and turned down for 1 lousy derog. Income of 145,000.00.

Re: Chase Application Status

Anonymous — Sat, 02 Jul 2011 02:21:48 GMT

@Anonymous wrote:
Say what you want about the backdoor number. Didnt work for me. I had a paid collection from 4 years ago (under 100) and I opened 3 new accounts this year. Score of 691 and turned down after recon. Did no good to plead my case with them. 21 accounts never late and turned down for 1 lousy derog. Income of 145,000.00.

Recon doesn't mean that everybody wins. There is something obviously more to the story that one 4-year-old paid chargeoff.

21 accounts and 3 new within a 6 month period might be a reason. Lenders don't like to see many new accounts opened or the inquiries that go along with them.

Re: Chase Application Status

Anonymous — Sun, 29 Apr 2012 13:38:43 GMT

Agreed...to many open accounts.....to many new accounts in a short period of time.

Alot of times in the world of credit......"Less is More"

Re: Chase Application Status

webhopper — Sun, 29 Apr 2012 14:59:51 GMT

@Anonymous wrote:
Agreed...to many open accounts.....to many new accounts in a short period of time.

Alot of times in the world of credit......"Less is More"

Agree... Chase cares about inquiries and they care about how many new accounts you have... I was approved on recon, but all of my inquiries were mortgage related. If they weren't then I would have been stuck with the denial. You may be a good candidate for Amex, as amex does not seem to care about inquiries, and they are income sensitive.