topic Re: Did I not apply correctly? in Credit Cards

Did I not apply correctly?

tmeach — Tue, 13 May 2014 19:23:26 GMT

I apped for Chase Freedom and Cap 1 Venture 1 at the same time and then Discover a week laer. I have a fraud alert with the CRA because I noticed I had fraudlent addesses on my report 2 months ago. I didn't get instant approval from either because they needed to do further verification.

For Chase- not instant approval, so I called Chase recon to verify, was told I was approved but didn't provide CL or interest rate. A week later I received a letter asking for more verification (copy of SS card and filled out a form) due to name discrepancies. Faxed that in, called a day later, was told to check on Friday.

For Cap 1- I had to fax in my SS card and a copy of a bank statement to show my address. I called a day later to check with them- they said they would send me a letter of a decision. I read around on forums that there is a strong possibility I am probably approved. Is that true?

Discover IT denied me because the AAoA are not long enough and I have a thin profile. I was offered to apply a joing account but I declined.

Here's my credit profile:

Fico EQ 737, TU 636, EX 610
2 Collections account $450-$580 each. 1 of the accounts in dispute
now 3 HPs for Chase, Discover, Cap 1 Venture 1
I am an AU for BOA $7k limit, Barclays $7K & Discover $12,600 and Cap 1 secured $500

My question:

after going through all this verification process with Chase and Cap 1, will it be likely I am approved? What has been everyone else's experience?
will I be getting another HP from the verification
if they are looking at my credit report again, will the new INQ affect the decision (after all I am applying for the same thing)
should I call the Recon lines? and when?
what is Cap1 recon # and how do I speak to someone from the US?

Thanks!

Re: Did I not apply correctly?

Anonymous — Tue, 13 May 2014 19:42:05 GMT

I think you will be approved good luck

Re: Did I not apply correctly?

tmeach — Thu, 15 May 2014 05:45:00 GMT

@Anonymous wrote:
I think you will be approved good luck

Thanks! I'm going to check back with them on Friday. My backup is applying for a membership with DCU

Re: Did I not apply correctly?

NoAnchoviesPlease — Fri, 16 May 2014 05:22:52 GMT

@tmeach wrote:

Here's my credit profile:
Fico EQ 737, TU 636, EX 610
2 Collections account $450-$580 each. 1 of the accounts in dispute
now 3 HPs for Chase, Discover, Cap 1 Venture 1
I am an AU for BOA $7k limit, Barclays $7K & Discover $12,600 and Cap 1 secured $500

My question:
after going through all this verification process with Chase and Cap 1, will it be likely I am approved? What has been everyone else's experience?
will I be getting another HP from the verification
if they are looking at my credit report again, will the new INQ affect the decision (after all I am applying for the same thing)
should I call the Recon lines? and when?
what is Cap1 recon # and how do I speak to someone from the US?

Thanks!

Are any of those scores a typo? Seems like a huge gap for EQ, unless that's the only one that's real FICO. If I had scores that far apart on the same day, I'd be looking at my credit reports to see what was missing/wrong on one side (EQ) or the other (EX/TU).

Identity verification shouldn't lead to another HP. Recon may, depending on the issuer and reason for recon.

I would not call recon until you get a decision. Call app status if you don't hear within the time frame. All known phone numbers from CSR to analysts to security to EO should be on http://ficoforums.myfico.com/t5/Credit-Cards/Backdoor-Numbers/td-p/408066.

And if a creditor/issuer does a second pull, they may call out "too many inquiries" even though they're responsible for them. Usually that's not the only or the main reason for a decline or adverse decision. It's like telling a romantic partner "it's not you, it's me" when it's definitely the other person.

Re: Did I not apply correctly?

tmeach — Mon, 19 May 2014 19:46:20 GMT

@NoAnchoviesPlease wrote:
@tmeach wrote:

Here's my credit profile:
Fico EQ 737, TU 636, EX 610
2 Collections account $450-$580 each. 1 of the accounts in dispute
now 3 HPs for Chase, Discover, Cap 1 Venture 1
I am an AU for BOA $7k limit, Barclays $7K & Discover $12,600 and Cap 1 secured $500

My question:
after going through all this verification process with Chase and Cap 1, will it be likely I am approved? What has been everyone else's experience?
will I be getting another HP from the verification
if they are looking at my credit report again, will the new INQ affect the decision (after all I am applying for the same thing)
should I call the Recon lines? and when?
what is Cap1 recon # and how do I speak to someone from the US?

Thanks!

Are any of those scores a typo? Seems like a huge gap for EQ, unless that's the only one that's real FICO. If I had scores that far apart on the same day, I'd be looking at my credit reports to see what was missing/wrong on one side (EQ) or the other (EX/TU).
no typo. I am AU for BOA, discover, CAP1, Barclays.
EQ report lists BOA, Disc, Barclays
TU- shows all 4 cards
EX- shows none.
I also disputed 2 accounts due to the dates on them, which I think is causing an issue with TU and EX. MyFico just alerted me that my EQ is now 749. =)
Identity verification shouldn't lead to another HP. Recon may, depending on the issuer and reason for recon.

I would not call recon until you get a decision. Call app status if you don't hear within the time frame. All known phone numbers from CSR to analysts to security to EO should be on http://ficoforums.myfico.com/t5/Credit-Cards/Backdoor-Numbers/td-p/408066.
I failed to mention I have a FA with all 3 CRAs. Just checked with them today, I was told by CAP 1 it will take 2-3 weeks for a decision since they are being careful due to the FA. Chase didn't receive my fax for some reason (I went to the bank to send it) and asked to send it to another location.

And if a creditor/issuer does a second pull, they may call out "too many inquiries" even though they're responsible for them. Usually that's not the only or the main reason for a decline or adverse decision. It's like telling a romantic partner "it's not you, it's me" when it's definitely the other person.

Re: Did I not apply correctly?

Countingpennies — Mon, 19 May 2014 20:23:08 GMT

Just so you know, Cap1 pulls all 3 reports, so an app for Cap1 is 1 inq. on each report. I wouldn't worry too much about inquiries if you only have a few.

Re: Did I not apply correctly?

tmeach — Wed, 21 May 2014 18:35:45 GMT

Here's an update:

I decided to to go for a DCU membership and app for their CC. That is a process as well. (darn the fraud alerts I implemented). No approval yet, but I see the HPs today.

Chase-

Last week, 5/12, I went to a branch to fax in the requested docs, a week later I called to check- CSR said it was not received. Yesterday, I spoke with the branch manager about my situation since it has been nearly 3 weeks and was told my fax was not received. She kindly assisted me by refaxing it, calling in to check if they received the fax. The rep on the phone suggested for us to call in the next day. So the branch manager suggested I come back to have her branch call on my behalf. Today, I stopped by and we went through the whole process with the 800 numbers, they didnt have my faxes!! The branch manager contacted 2 people to sort out the issue and refaxed in my docs again. (apparently you can't have scratch outs on their forms) She explained to the CSR the issues I have encountered with fax transmitals and asked the CSR to call me directly as soon as they received the fax. 1 hour later, I recieved a call.... I AM FINALLY APPROVED for a $500 CL!!!! I asked for a higher limit but they said they would need to do another HP. I just had 5 HPs in the past 3 weeks, I do not want more. I decided to just be happy with an approved CC and accept that all the hoops I went through got me somewhere.

What I learned from my Chase Freedom card process:

Don't have your name in too many variations.
Do not have scratch outs on forms.
If you bank with the CCC, step into a branch and speak with someone to expedite the process.
when you send fax transmittals, always follow up. within 24hrs, don't listen go by the X amount of days the CSR tell you.
having fraud alerts with the CRA are a PITA. (if I ever set a fraud alert again, I will remove it before app'ing )

Cap1-

going to check with them again today. I called on Monday and got the blanket statement of check in 2-3 days.

Just wanted to share my rebuild journey because this is my 2nd CC in my life and 1st unsecured card. All the CCs I have is bc I am an AU. I love this forum, I would've given up 2 weeks ago or waited around.

Re: Did I not apply correctly?

tmeach — Wed, 21 May 2014 19:00:32 GMT

just checked with CAP 1-

they didn't receive my address verification. Whoever faxed it for me at my bank does not seem to have a handle on machines. I truly do not enjoy calling overseas call centers.

Re: Did I not apply correctly?

Countingpennies — Wed, 21 May 2014 19:33:18 GMT

Just an FYI, you can fax from your computer. Scan in your docs, save as PDF. There are a number of free services online

Re: Did I not apply correctly?

Anonymous — Wed, 21 May 2014 20:24:24 GMT

@Countingpennies wrote:
Just an FYI, you can fax from your computer. Scan in your docs, save as PDF. There are a number of free services online

I wonder if that is safe....

Anyway congratulations on the freedom carry, sorry its only $500

Re: Did I not apply correctly?

tmeach — Wed, 21 May 2014 21:03:34 GMT

@Countingpennies wrote:
Just an FYI, you can fax from your computer. Scan in your docs, save as PDF. There are a number of free services online
will you please PM a secured site? I came across Faxzero.
@Anonymous wrote:
I wonder if that is safe....

Anyway congratulations on the freedom carry, sorry its only $500

Thanks

Update on DCU cc-

denied based on 2 derogs & no income. I am a SAHM...