Hey Everyone!
Been a reader for this for awhile now trying to get all the advice I can. Here's a bit of my backstory...
I made some big mistakes in the past, which ended up having a collections situation which ended in 2013 with Chase. I paid off the debt and was at a loss on how to rebuild my credit. I ended up taking out a Secured card with CapitalOne with a limit of $200 and have that (though sadly, barely used since). Even so, my credit score had gone steadily up and seemed to cap at 680 on all three reporting agencies.
All the while, I've had a Chase Checking Account even before this issue (I used to belong to WaMu but stuck around) and still used it to this day. I was a bit of an idiot and had begun using my Chase Debit card for all of my purchases, instead of making my CapitalOne card more active. However, I was worried to since it had such a low limit. I wanted to keep things under a certain amount.
Since then, I've paid off my debt, kept a zero balance, and currently have none aside from student loans which I pay off at least double the minimum required payment every month. I thought it was time to get a grown up card.
Eventually, I had my heart set on a Travel Rewards Card, with the Chase Sapphire being my eventual target. I know that's a hard one to get (after reading these forums) so thought a Freedom would be a great stepping stone.
So I applied, and got denied and took a hefty hit (lost 30 points with Experian) for the hard pull. I called up the backdoor number and actually had a really nice chat with their rep. I explained my situation, how I wanted to build my credit, how I've been paying things off, as well as being a long time Chase member and how I wanted to keep all of my accounts with them.
He explained to me that the he sees the derogatory mark and me getting a secured card which was a good start, but he said the main problem they seem to have is I should build up more history with other lenders to prove my commitment to reestablishing my credit (not his words, he sounded much nicer and even mentioned checking out these forums for advice). Even if it meant starting at getting some store cards and paying them off on time, etc.
I know you guys push to keep trying recon till you get an approval, but he sounded pretty convincing and heard me out. Should I follow his advice (and if so, would applying for a Discover Card, which I've been getting pre-approval letters for lately... or try CapitalOne because I have the secured card) be smart or should I give it another shot? Will I get more hefty hits?
Also, another thing that worries me, I hear that they'll know if I've called before. And yes, I know the worse thing they can say is no, but is there a more convincing answer to give it they ask straight out "Didn't you already call and were denied?" that doesn't devolve into "Well I thought I'd just try someone else..." It sounds way too close to asking Dad for something when Mom said no.
Thanks for any tips and advice!
-G
