So I submitted this app last week and have been calling the 1800 number and the robolady keeps telling me 7-14 day message. I called again and still the same waiting message, well today I finally spoke with a rep and was told it was declined because "to many recent new accounts". This is interesting because 1) I didn't think that the Amazon card fell under the 5/24 rule/ 2) I only have 1 new account in the last 24 months which was actually my Walmart card converting to the MC version from the SC so nothing I actually even applied for but it still shows as a new account.
All my score are over 700 and between all the CRA I only have 7 or 8 inquiries. Of course they said they are sending out a letter. Has anyone experienced being told this when you know for a fact you have no new accounts? If so should I wait until I receive the letter to recon?
Call recon! When I called because my app when pending with the 30 days notice, they told my reason for denial was that my oldest revolver account was under 1-years old. So yeah call and see what they can do.
Okay so I called the recon line and kept being placed on hold. Well I happen to get home and find the denial letter from chance which stated "to many new accounts with us". So the CA kept placing me on hold reviewing, confirm my personal info, etc... then he asked if I usually PIF or make payments. I told him I generally PIF and then he asked why I have balances reporting. I told him those balance are my statements that have closed this month and I have already submitted payments but they have not updated on the CB's. Then he asked why I have so many inquiries in the the last two years, I asked him how many are reporting and he said 5. I told him most were request for CLI's.
Final result: still declined due to too much available credit. Guys I'm around ~$60K so no way am I overextended and only owe $1,300 across all cards which will be paid by September. They said I would receive another denial in the mail in 2 weeks. Any advise guys?
My income is $190,000. Only debt on my credit report besides small cc balance is a $79K auto loan which I've had two years now with no missed payments. Own home mortgage free - and I have FICO monitoring so get updates daily. No baddies, nothing strange reporting. I'm really at a loss on this.
@Anonymous wrote:Very strange. I assume you got the first denial letter and verified that all information on the original denial letter was correct (name and address spelling, SSN, etc.?) Did this give the Chase Card Acquisition Risk score?
I'm at a bit of a loss, but I'm generally surpised your individual credit lines are as low as they are. Split file would be my best guess at this point, but maybe someone else will have a guess.
Everything was verified and correct. The letter just said they pulled EX but gave no score. I did ask the CSR and he could not tell me over the phone and the next letter I receive will have that information listed. I only started really getting into credit in 2013/2014 and within the last year has my income gone to where it is. The limits I have no are almost all original from my 2013/2014 approvals. It wasn't until this month I started looking at CLI's and new cards to get higher CL (recent CapOne Venture approval at 20K).
I just can't see from what perspective Chase is looking at this from. I've banked with them for 10 years now and can't get this card or a CLI on existing. I know they're touch to crack but this seems crazy.
Has anyone ever had luck doing a secondary recon with them?
