topic Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help in Credit Cards

Chase Freedom Denied for"Too many recent Inquiries"..Need Help

BKFireFly — Tue, 23 Apr 2013 03:58:25 GMT

Hey everybody.

Back in 07 I got a chase freedom with 4 K and I was so excited, so I used and paid and at my 6 mth review it was revoked. I was never late, always paid more than the minimum but util was high, I had done a few favors and was waiting to get the money to make lump payments. Anyway so A/c closed I made a few late payments and finally joined their balance liquidation program. Paid it off 1+ yrs early (March '13). I have a lot of cards all with low limits put paid on time most with a zero balance. My Dell A/C has the highest util. *sorry to be long winded*

I have been on the search for a prime card with a decent util, authorized user on mom visa w/ 4K but doesn't report. So I apped for a freedom and I got wait msg. I waited letter said nothing about my past negative history, just too many recent inquiries. I have tried BOA, Citi & Barclay. I cannot get a prime card. I need to get back out of subprime help. Can't find a company to take a chance on me.

Should I recon and what are my chances of approval? Or other advise

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

09Lexie — Tue, 23 Apr 2013 04:02:01 GMT

How many inq's? What cc's do you have? Baddies? Util?

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

elpo9 — Tue, 23 Apr 2013 04:11:19 GMT

Chase, as a prime lender, won't be happy with lates unless you can explain with good justification. That said, recon never hurts: call an analyst (not CSR), and be sure to state you'd like it reconsidered without an additional hard inquiry. Again, explain at that time the lates/util/inqs (if they ask). Good luck and keep us posted. Love my Freedom

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

soILseminole — Tue, 23 Apr 2013 04:15:16 GMT

first off, ALWAYS recon. you took the HP so try and make the most of it.

Now you say you have a bunch of cards with low limits...how many cards exactly and how old/new are the accounts? If recently opened (last few months), Id say chances of approval are slim because Chase is seeing new accounts and your new inquiries. In other words, it appears to them that you may be in financial trouble and desperate for credit. If your accounts are relatively new, my advice it to hit the garden and let your accounts and your inquiries age a bit. something like 6 months or so.

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

elpo9 — Tue, 23 Apr 2013 04:18:22 GMT

+1 soIL

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

BKFireFly — Tue, 23 Apr 2013 04:29:09 GMT

Most of my cards are store cards which I use for the discounts they offer. Even reading this i thought that getting additional cards would be increase my avail and lower util but without a decent limit it doesn't make much of a difference. I wanted to garden but no matter how much I try-I get the itch to get into Prime. Prime & then garden thats my plan. Which is obviously not working for me.

I acutally just pulled the letter and it says "too many recent requests for credit or reviews of your credit", which I interpret to mean too many inquiries.

Also, I forgot to mention I was recently auto loan shopping (bought my first car), and I got a few pulls there. My most recently opened card was a Zales $ 500, and I got it to get my mom something for her bday-there were offering 20%.

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

elpo9 — Tue, 23 Apr 2013 04:36:37 GMT

Explain that to the analyst. They understand that we all sign up for the Macy's 15% off cards etc...nobody (around here) carries balances on those cards, and Chase knows it. Regarding the auto loan, that should be okay - it's treated differently, but may lower your potential limit because they'll factor it into your monthly expenses. Always recon when no hard inq is necessary!

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

soILseminole — Tue, 23 Apr 2013 04:39:16 GMT

if you try to recon, make sure you mention some of those HP's were from car shopping. It may or may not make a difference. As for your plan, sounds like its backwards....GARDEN THEN PRIME. Time is on your side my friend

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

FinStar — Tue, 23 Apr 2013 04:45:19 GMT

@BKFireFly wrote:
Most of my cards are store cards which I use for the discounts they offer. Even reading this i thought that getting additional cards would be increase my avail and lower util but without a decent limit it doesn't make much of a difference. I wanted to garden but no matter how much I try-I get the itch to get into Prime. Prime & then garden thats my plan. Which is obviously not working for me.

I acutally just pulled the letter and it says "too many recent requests for credit or reviews of your credit", which I interpret to mean too many inquiries.

Also, I forgot to mention I was recently auto loan shopping (bought my first car), and I got a few pulls there. My most recently opened card was a Zales $ 500, and I got it to get my mom something for her bday-there were offering 20%.

This could prove a bit trivial or borderline. Even if you have the decision reconsidered, the analyst would be able to review/see your previous Chase account history even if the letter only mentions the inquiries part. Keep in mind, even if you request a review with a SP, they are still bound to re-review your credit file and would likely result in a HP (potentially an alternate bureau) since essentially you are requesting the previous credit decision to be re-reviewed (permissible purpose).

Unfortunately, the only way to know is if you decide to pursue the reconsideration route. The fellow members on this board can only speculate but not provide a solid decision based on annecdotal scenarios. Everyone's results/experience will vary but just something to keep in mind. Best of luck!

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

BKFireFly — Tue, 23 Apr 2013 04:45:53 GMT

Update

They pulled Experian:

Recent pulls

Honda 2x (date of car purchase) can i dispute that

MCU credit union (Car loan shopping)

Bank of America (Denied-Recon did not work) guess i can say it was auto loan

MCU (auto loan)

Citi (tired for citi student visa/forward)

All other Inquires from dec 2012 or earlier.

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

Anonymous — Tue, 23 Apr 2013 04:54:54 GMT

just so i am understanding this correctly.

did chase close your account back in 2007 because you were late, or because you didn't pay at all, or because they soft pulled you and just didn't like what's going on your CR?

Also to add: if they SP'ed you and didn't like what's going on.....do you know what was the cause? Did you max out a few cards? Did you become deliquent on other account(s)?

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

09Lexie — Tue, 23 Apr 2013 04:54:00 GMT

You aren't disputing the auto loan inq's but explaining what they were for ...inq's count for 1 yr for CS and they stay on your report for 2 years. Not sure what 'all other inq's from Dec 12 or earlier' refers to

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

BKFireFly — Tue, 23 Apr 2013 05:02:12 GMT

I never actually received a reason why they revoked. Even when I asked the rep was unclear.

I was never late

Always paid more than the minimum

I think they revoked because they did not like my usage. At that time I has just started paying off collections and straightening out negative accounts.

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

FinStar — Tue, 23 Apr 2013 05:01:13 GMT

@BKFireFly wrote:
Hey everybody.

Back in 07 I got a chase freedom with 4 K and I was so excited, so I used and paid and at my 6 mth review it was revoked. I was never late, always paid more than the minimum but util was high, I had done a few favors and was waiting to get the money to make lump payments. Anyway so A/c closed I made a few late payments and finally joined their balance liquidation program. Paid it off 1+ yrs early (March '13). I have a lot of cards all with low limits put paid on time most with a zero balance. My Dell A/C has the highest util. *sorry to be long winded*

I have been on the search for a prime card with a decent util, authorized user on mom visa w/ 4K but doesn't report. So I apped for a freedom and I got wait msg. I waited letter said nothing about my past negative history, just too many recent inquiries. I have tried BOA, Citi & Barclay. I cannot get a prime card. I need to get back out of subprime help. Can't find a company to take a chance on me.

Should I recon and what are my chances of approval? Or other advise

OP, something doesn't add up. What type of "usage" did you put on the card that resulted in the account being closed? Also, you mentioned that you made no late payments on the card but your above sentence contradicts what was posted earlier... additionally, if the recent "early" pay off on this card occurred just last month on their BLP, then they will likely be able to see this during a manual review.

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

BKFireFly — Tue, 23 Apr 2013 05:11:38 GMT

To clarify, I did not pay prior to closure. I was pissed at chasse for closing my account and made really stupid decisions. I think at the time my usage was like 60-80 %. As i previosuly stated did a few favors for family and was waiting for the cash to make the lump sum payments within the next month or so. They never paid so I did the BLP.

Card was opened in 07, closed in 08

@FinStar wrote:
@BKFireFly wrote:
Hey everybody.

Back in 07 I got a chase freedom with 4 K and I was so excited, so I used and paid and at my 6 mth review it was revoked. I was never late, always paid more than the minimum but util was high, I had done a few favors and was waiting to get the money to make lump payments. Anyway so A/c closed I made a few late payments and finally joined their balance liquidation program. Paid it off 1+ yrs early (March '13). I have a lot of cards all with low limits put paid on time most with a zero balance. My Dell A/C has the highest util. *sorry to be long winded*

I have been on the search for a prime card with a decent util, authorized user on mom visa w/ 4K but doesn't report. So I apped for a freedom and I got wait msg. I waited letter said nothing about my past negative history, just too many recent inquiries. I have tried BOA, Citi & Barclay. I cannot get a prime card. I need to get back out of subprime help. Can't find a company to take a chance on me.

Should I recon and what are my chances of approval? Or othe

OP, something doesn't add up. What type of "usage" did you put on the card that resulted in the account being closed? Also, you mentioned that you made no late payments on the card but your above sentence contradicts what was posted earlier... additionally, if the recent "early" pay off on this card occurred just last month on their BLP, then they will likely be able to see this during a manual review.

Absurdly minor proanity edit --CareBear Rev

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

BKFireFly — Tue, 23 Apr 2013 05:14:56 GMT

Chase did a soft & hard pull for the account , does this matter?

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

FinStar — Tue, 23 Apr 2013 05:26:24 GMT

@BKFireFly wrote:
To clarify, I did not pay prior to closure. I was pissed at chasse for closing my account and made really stupid decisions. I think at the time my usage was like 60-80 %. As i previosuly stated did a few favors for family and was waiting for the cash to make the lump sum payments within the next month or so. They never paid so I did the BLP.

Card was opened in 07, closed in 08
@FinStar wrote:
@BKFireFly wrote:
Hey everybody.

Back in 07 I got a chase freedom with 4 K and I was so excited, so I used and paid and at my 6 mth review it was revoked. I was never late, always paid more than the minimum but util was high, I had done a few favors and was waiting to get the money to make lump payments. Anyway so A/c closed I made a few late payments and finally joined their balance liquidation program. Paid it off 1+ yrs early (March '13). I have a lot of cards all with low limits put paid on time most with a zero balance. My Dell A/C has the highest util. *sorry to be long winded*

I have been on the search for a prime card with a decent util, authorized user on mom visa w/ 4K but doesn't report. So I apped for a freedom and I got wait msg. I waited letter said nothing about my past negative history, just too many recent inquiries. I have tried BOA, Citi & Barclay. I cannot get a prime card. I need to get back out of subprime help. Can't find a company to take a chance on me.

Should I recon and what are my chances of approval? Or othe

OP, something doesn't add up. What type of "usage" did you put on the card that resulted in the account being closed? Also, you mentioned that you made no late payments on the card but your above sentence contradicts what was posted earlier... additionally, if the recent "early" pay off on this card occurred just last month on their BLP, then they will likely be able to see this during a manual review.
Absurdly minor proanity edit --CareBear Rev

Ok, thanks for clarifying. This is really going to depend on a variety of factors if you decide to have the decision reconsidered: (a) inquiries/recent new credit (b) previous history with Chase (c) overall credit profile, etc. On the upside, you have rectified the situation and settled the debt earlier than scheduled via their BLP.

The only potential issue could be how they view your previous history with them, as Chase remembers and the "forgiving" factor can take some time on their end. Could they give you a second chance? Possibly. Can the reconsideration also result in a denial? Possible as well. The only way to know for sure is how you present/plead your case to them if you try the reconsideration approach and want to re-establish a relationship and whether they are willing/able to open an account for you.

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

BKFireFly — Tue, 23 Apr 2013 05:41:46 GMT

@FinStar wrote:
@BKFireFly wrote:
To clarify, I did not pay prior to closure. I was pissed at chasse for closing my account and made really stupid decisions. I think at the time my usage was like 60-80 %. As i previosuly stated did a few favors for family and was waiting for the cash to make the lump sum payments within the next month or so. They never paid so I did the BLP.

Card was opened in 07, closed in 08
@FinStar wrote:
@BKFireFly wrote:
Hey everybody.

Back in 07 I got a chase freedom with 4 K and I was so excited, so I used and paid and at my 6 mth review it was revoked. I was never late, always paid more than the minimum but util was high, I had done a few favors and was waiting to get the money to make lump payments. Anyway so A/c closed I made a few late payments and finally joined their balance liquidation program. Paid it off 1+ yrs early (March '13). I have a lot of cards all with low limits put paid on time most with a zero balance. My Dell A/C has the highest util. *sorry to be long winded*

I have been on the search for a prime card with a decent util, authorized user on mom visa w/ 4K but doesn't report. So I apped for a freedom and I got wait msg. I waited letter said nothing about my past negative history, just too many recent inquiries. I have tried BOA, Citi & Barclay. I cannot get a prime card. I need to get back out of subprime help. Can't find a company to take a chance on me.

Should I recon and what are my chances of approval? Or othe

OP, something doesn't add up. What type of "usage" did you put on the card that resulted in the account being closed? Also, you mentioned that you made no late payments on the card but your above sentence contradicts what was posted earlier... additionally, if the recent "early" pay off on this card occurred just last month on their BLP, then they will likely be able to see this during a manual review.
Absurdly minor proanity edit --CareBear Rev
Ok, thanks for clarifying. This is really going to depend on a variety of factors if you decide to have the decision reconsidered: (a) inquiries/recent new credit (b) previous history with Chase (c) overall credit profile, etc. On the upside, you have rectified the situation and settled the debt earlier than scheduled via their BLP.

The only potential issue could be how they view your previous history with them, as Chase remembers and the "forgiving" factor can take some time on their end. Could they give you a second chance? Possibly. Can the reconsideration also result in a denial? Possible as well. The only way to know for sure is how you present/plead your case to them if you try the reconsideration approach and want to re-establish a relationship and whether they are willing/able to open an account for you.

I was planning to call tomorrow, but I am unsure what would be my best approach, to sell my case. I think the ealry payoff is like my best selling point & the fact that those inquiries are from me looking for an auto loan/purchase.

Full time grad student, majority of my credit report is student loans. Besides a lare on my Macys & Hofstra (2008) that I am disputing and tryign to good will, Chase is the only other late payment & the worst on my report. I don't pay late. Unfortunately, getting that good CL from them would sufficiently drop my util.

Total revolving credit $ 10 K, using like 4k. (I know i need to get my util down to less than that). I use my cards for books, tution payments etc.

I am thoroughly at a loss here.

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

09Lexie — Tue, 23 Apr 2013 05:49:12 GMT

OP, hopefully they will only dwell on your inq's and not bring up your past history. explain you were car shopping. Do not say, 'I just want a prime card'..make sure they know how much you want their cc. You hope to have a long relationship with them.

If they bring up your past history, well you didn't know that utilizing your CL was harmful. That you always paid on time and you really would like a second chance.

Best of luck.

Re: Chase Freedom Denied for"Too many recent Inquiries"..Need Help

BKFireFly — Tue, 23 Apr 2013 05:55:34 GMT

Thanks so much everyone for your input. I will keep you posted. *Crossing Fingers & Heart* Going to take the plunge tomorrow. Gonna push for 3-5K if even get a yes. I'm somewhat ambitious.