topic Re: just applied CSP and SW card in Credit Cards

just applied CSP and SW card

Anonymous — Thu, 18 Sep 2014 04:18:54 GMT

Ughhhh got the dreaded 10 day we need further review for a decision. That just spells denial to me. Current list of cards are in sig. No baddies 60k income

Re: just applied CSP and SW card

Anonymous — Thu, 18 Sep 2014 04:22:14 GMT

Keep hope alive! I got the same message when I applied for Freedom and a congratulations email an hour later. Had to go through identity verification for Sapphire but it worked out well in the end All is not lost. GL!

Re: just applied CSP and SW card

Skye12329 — Thu, 18 Sep 2014 04:22:18 GMT

Whats your AAOA?

Re: just applied CSP and SW card

-Cal- — Thu, 18 Sep 2014 04:23:16 GMT

How long have you had your other Chase cards? They probably just want to do some verification.

Re: just applied CSP and SW card

skigirl916 — Thu, 18 Sep 2014 04:33:22 GMT

How the heck did you raise your scores over 100+ each in one month?! Tell me, NOW! Haha!

Re: just applied CSP and SW card

Anonymous — Thu, 18 Sep 2014 04:40:10 GMT

Going from 85 percent util to 2 percent will do that. AAOA is over 2 years. Have had chase freedom almost 3 years no baddies on any report

Re: just applied CSP and SW card

jamesdwi — Thu, 18 Sep 2014 04:48:02 GMT

I would give them a call and ask if you can provide any information to help them process your applicaions.

your scores seem good enough for both cards, my scores were no where near your scores and I was approved for both... Only having one card with a CL of 5k may be an issue they raise but still should be good to go.

Re: just applied CSP and SW card

bigblue7722 — Thu, 18 Sep 2014 11:43:54 GMT

Op are those scores fico scores? Something must be up why u didnt get an instant approval. my income and scores are less than yours and chase has given me almost 20k in credit across 4 cards in less than a year. Either something bad just hit your reports or they need to verify it is you. The only other thing i could think of is your debt to income ratio.do u have a high mortgage/rent payment or a high car payment?

Re: just applied CSP and SW card

Anonymous — Thu, 18 Sep 2014 11:51:48 GMT

With Chase that's not a denial for sure. I got 7-15 days message from each if my app and I got approved for all 3 cards. Just give them a call and they will speed up the process or tell you what's going on.

Re: just applied CSP and SW card

Anonymous — Thu, 18 Sep 2014 12:21:26 GMT

Yes real fico scores pulled here. I also closed on my first home with chase 2 days ago and my loan officer gave me similar score plus or minus a few points. I'm like itchy and scratchy over here wondering what's going on. Only thing I wonder about is the 6 or 7 apps that hit my CR when I was planning on buying a new vehicle 3 Mos ago but decided no to for my mortgage.

Re: just applied CSP and SW card

takeshi74 — Thu, 18 Sep 2014 14:19:49 GMT

@Anonymous wrote:
Ughhhh got the dreaded 10 day we need further review for a decision. That just spells denial to me.

No telling. A review is just a review until completed. You can call recon if you don't want to wait it out. You can also recon if denied.

@skigirl916 wrote:
How the heck did you raise your scores over 100+ each in one month?! Tell me, NOW! Haha!

Utilization (Amounts Owed) is the second biggest slice at 30%:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

85% is extremely high and if not maxed then approaching maxed. The general recommendation for maximum utilization is 30%. Ideal is much lower -- typically under 10%. Going from 85% to under 10% can not only have a major impact on scores but approvals, APR's and limits as well.

At the end of 2012 I was at over 60% utilization (don't recall the exact number). I managed to get a $2K Slate from Chase with the highest APR offered. 5 months later I had dropped utilization to the single digits and Chase approved a pair of $25K cards within a day of each other with the lowest APR offered on one (the other had a single APR). High utilization can certainly have a significant impact and really hold one back. Prolonged high utilization can lead to adverse action such as account closure and balance chasing -- both of which will put one in a utilization spiral that can be difficult to get out of as they both will max out your utilization on the affected accounts.

Re: just applied CSP and SW card

Anonymous — Thu, 18 Sep 2014 18:52:42 GMT

So called in I couldn't take it anymore lol. CSR told me chase new policy wouldn't let me app for 2 cards at once so it canceled my SW app. Asked me some verification questions for the CSP then came back approved for 12k! Holy smokes!

Re: just applied CSP and SW card

09Lexie — Thu, 18 Sep 2014 19:23:14 GMT

Locked to redirect thread to credit card approvals

http://ficoforums.myfico.com/t5/Credit-Card-App-Approvals/All-I-can-say-is-wow/td-p/3448551