@nitrov wrote:
@FinStar wrote:
@nitrov wrote:
@ScoreOrBeScored wrote:
Are those all the cards that's on your Siggy on your reports or are there more. If that's all of them , I'm sure they will give you a cli but don't expect to get more than
$12k. Not sure how much your requesting, but keep in mind that their decision is going to be bases off your current file and credit worthiness and not
what you have In your accounts with them, so I would suggest to try not to throw your weight around to get what you want. They will give what they feel
comfortable giving
I worked at Chase for almost 6 years and I can tell you that how much you have in your accounts with them and how much your income is goes a VERY long way with them. The "special consideration form" is literally only eligible for clients with over $15k in deposits held at Chase, which is why I bring up how much I have at their bank. You used to not even need to complete the form if a credit analyst could verify the amount of deposits you have. Apparently my decline has NOTHING to do with my creditworthiness or my credit file, but solely based on the fact that I opened more than 5 new cars in less than 2 years. That's absurd. One of those cards is from them and it's the 2nd to last new account I even opened. So, I was good enough for $9k then, but not good enough for anything now despite that my score is up 40 points from a year ago and util is cut in half with zero late anythings on my credit.
Makes sense. /sarcasm
If you worked for Chase for ~6 years, then you should be aware that some LOBs tend to shift certain internal policies from time to time which includes Card Services and other lending areas. While some bankers can have some influence given a depository or other relationship and can work in most cases, it's not always 100% a sure shot. Now, if you were part of CPC, sure.
It's funny because I was considering doing CPC but they're so expensive and now I'm really pretty convinced it's not worth it. Policies like the 5/24 are so arbitrary, I honestly never experienced anything like that while I was there. Usually the special consideration form was just something the PB/BB filled out, faxed into the credit analysis department, and could sometimes call and suck up to try and sway a decision, but no more power than that. The only person who can override a special consideration decline is the District Manager, who has to sign off on the entire credit exposure, meaning if the person defaults, the district's general ledger takes the hit for the full amount of the charge-off. As a result, overrides at that level almost NEVER happened. But special consideration forms probably had a 50-60% recon approval rate, solely because of the deposits the client had in the bank. The form itself is so short, that's really all they ask about.
Keep in mind, I worked there about 4 years ago so I have no clue what has changed. But the CSR on the phone did tell me they still do special consideration forms.
You've got nothing to lose so you can definitely try that approach. AFAIK, yes the branches still have that option with the form. I would suggest getting that rolodex out and find out who you might still know/network through the branches who can leverage some influence. And, yes you're correct, the DM would be the only one who can override the decline by absorbing the loss/exposure (should it come to that) via their admin cost center.
