Bizarre Chase convo lol

[Tiersha]

Maybe there is something I don't understand.  And today was a weird day in the credit world.

1.  I have a great relation ship w/ Chase and my card, long term, newver late 28% uti on the avg.  I even had a business convo re moving my accts and opening my business acct w/ them.

2.  I applied for a secondary card due to it's 0% for 15 months-denied WHAAAT?

3.  Called the recon line, great cst svc and in talking to the specialist, not the actual person who answered the phone, we discussed zero late pays (across every line), length of relationship, the 3 late pays in 2019 seemed to kind of kick my butt which I thought that odd.

4.  I was told for the 2nd time (the 1st time in my denial letter) that a.  I had to much available credit and b. that my uti was too high.

Um isn't this exceptionally contradictory? How can you have too much avail and high uti ?

5. I have 6 cards, all general limits of 4500 or less, only 2 of them are used, neither full house payment, auto loan and a small heloc used to finish building my other house.

Just weird in my world.  So I made the general (passive aggressive comment unfortunately)  that I would not continue to fight the declination but that I would remember to call the branch manager and turn down me moving my accts etc over and I would most likely use US Bank at this time. Suddenly it became about how much did I think I would make in my business, maybe they could...

I walked away.

PS on a seperate and side note, I received an email from Cap 1 stating a prequal for a 0% interest for 9 mns on Quicksilver at a whopping 29.49% (OUCH).  Funny as I have had my card since 2014 and never once did they approve any cli...zero lates all of $500.  I call it my cheap card.  I've actually come close to cxlg it in th epast just because of frustration of their services.

Ok have a great financial wandering everyone

[Bk2006]

This does seem odd for Chase, as they usually have no problem approving a second card as long as you're under 5/24 and the rest of your profile supports it. I wouldn't think 28% utilization would spook them - maybe it's your DTI or income as a business owner? I can say Chase has been good to me with higher CLs as my income has gone up significantly in recent years (I'm a salaried W2 employee now) but I didn't have much luck with them when I was a small business owner last decade.

[Tiersha]

I am a salaried employee also but also starting a business.  That convo even took us to the lot I own free and clear with no loan attachment that I've developed.

The reasons on the letter changed after our discussion and went from 4 to 2 in the 2nd letter.

The 5/24 was never listed as a reason.

Technically there is that f4om a couple months ago over car shopping.  I gave permission to run my credit for one credit union and they ran it for 6 diff banks instead.

My house was the same a yr n half ago.

[SUPERSQUID]

---

@Tiersha wrote:

Maybe there is something I don't understand.  And today was a weird day in the credit world.

1.  I have a great relation ship w/ Chase and my card, long term, newver late 28% uti on the avg.  I even had a business convo re moving my accts and opening my business acct w/ them.

2.  I applied for a secondary card due to it's 0% for 15 months-denied WHAAAT?

3.  Called the recon line, great cst svc and in talking to the specialist, not the actual person who answered the phone, we discussed zero late pays (across every line), length of relationship, the 3 late pays in 2019 seemed to kind of kick my butt which I thought that odd.

4.  I was told for the 2nd time (the 1st time in my denial letter) that a.  I had to much available credit and b. that my uti was too high.

Um isn't this exceptionally contradictory? How can you have too much avail and high uti ?

5. I have 6 cards, all general limits of 4500 or less, only 2 of them are used, neither full house payment, auto loan and a small heloc used to finish building my other house.

Just weird in my world.  So I made the general (passive aggressive comment unfortunately)  that I would not continue to fight the declination but that I would remember to call the branch manager and turn down me moving my accts etc over and I would most likely use US Bank at this time. Suddenly it became about how much did I think I would make in my business, maybe they could...

I walked away.

PS on a seperate and side note, I received an email from Cap 1 stating a prequal for a 0% interest for 9 mns on Quicksilver at a whopping 29.49% (OUCH).  Funny as I have had my card since 2014 and never once did they approve any cli...zero lates all of $500.  I call it my cheap card.  I've actually come close to cxlg it in th epast just because of frustration of their services.

Ok have a great financial wandering everyone

Recently a month or two ago I was denied a cli on my cap 1 savor one. The main reason was my total credit limits of all cards combined was too high in comparison to my income. My TCL is 87k, my income is 39k.

I wonder if chase means the tcl of all your cc's is too high when compared to your income, just a guess.

---

[Tiersha]

You have an Inc of 39k and have that kind of TCL?

Mine is 56,8 going to 61,4 in June and my TCL is just shy of 15k.

[SUPERSQUID]

---

@Tiersha wrote:

You have an Inc of 39k and have that kind of TCL?

Mine is 56,8 going to 61,4 in June and my TCL is just shy of 15k.

---

Yes my TCL is 87k, but it seems i hit a wall with lenders about 13k or so except NFCU and Penfed.

I can request my next cli on my NFCU cr cc in june so lets see what happens, right now its at 15,700.

NFCU just recently raised my platinum card from 3k to 9k.

Yes my income is only 39k. in 2024 i can collect my 2 pensions and then my income goes up to the mid 50's.

The reason i achieved that high TCL is paying high and keeping utility low and of course all the great advise from all the credit wizards on this forum.

[Tiersha]

Yep, there is some amazing  info here...I'm still at baby statges of how this game works.  I've always just done what I knew to do...which obviously that teaching was way off base.  man they should teach this stuff to kids in school.

[805orbust]

@Tiersha  I never go into a car dealer without my financing already arranged. Everyone says that that rat's nest of apps and inquiries they pull are scored as one but I don't buy it.  Walk in, sign check, drive out. Easy peasy.  Penfed has been the best for me with this. Just FYI. 

[SUPERSQUID]

---

@805orbust wrote:

@Tiersha  I never go into a car dealer without my financing already arranged. Everyone says that that rat's nest of apps and inquiries they pull are scored as one but I don't buy it.  Walk in, sign check, drive out. Easy peasy.  Penfed has been the best for me with this. Just FYI. 

---

I agree, the last time I bought a vehicle at a dealer ages ago i went to the dealer financing letter in hand. The dealer made one phone call and said ok come back tommorow and it will have plates etc. I signed some papers and away i drove, that was 2007 with cap 1 auto financing.

[805orbust]

@SUPERSQUID  yeah that CapOne financing is pretty sweet also.  The dealer is never really "happy" when you do it, but who cares... give me my car 🤣