CSR - Denied due to very old missed payments

[Anonymous]

Hello,

I applied for the CSR and was denied due to my credit report stating some missed payments for some credit cards that I did NOT apply for. They ended up going to collections and I eventually paid them all off to the collections company. My question is, if I paid the collections company shouldn't the orginal lender remove all the late payments? Again, I did not apply for these cards(family member did it without informing me), so did was not sure what the outcome would be if I reported fraud. Ultimately my goal is to have it all cleared up. These cards are nearly 4-5 years old and all closed. my current score is 750TU 748EQ 720EX. They told me I had too many inquiries in recently, but all my credit cards are business cards. 

I Applied for:

Amex amazon business - 10/2018 $3000limit EX pull 

Capital one spark - 1/2019 (recently learned about this reflecting on my personal credit report... not too happy about it)$30000limit EQ EX pull

CBI - 7/1/2019 $30000limit EX pull

I informed chase that all my most recent inquries were business related and I have yet attempt to apply for a personal card. I requested them to reconsidered, but they declined. How many times can I request to be reconsidered? Any advise would be greatly appriciated.

thank you!

[Remedios]

---

@Anonymous wrote:

Hello,

I applied for the CSR and was denied due to my credit report stating some missed payments for some credit cards that I did NOT apply for. They ended up going to collections and I eventually paid them all off to the collections company. My question is, if I paid the collections company shouldn't the orginal lender remove all the late payments? Again, I did not apply for these cards(family member did it without informing me), so did was not sure what the outcome would be if I reported fraud. Ultimately my goal is to have it all cleared up. These cards are nearly 4-5 years old and all closed. my current score is 750TU 748EQ 720EX. They told me I had too many inquiries in recently, but all my credit cards are business cards. 

I Applied for:

Amex amazon business - 10/2018 $3000limit EX pull 

Capital one spark - 1/2019 (recently learned about this reflecting on my personal credit report... not too happy about it)$30000limit EQ EX pull

CBI - 7/1/2019 $30000limit EX pull

I informed chase that all my most recent inquries were business related and I have yet attempt to apply for a personal card. I requested them to reconsidered, but they declined. How many times can I request to be reconsidered? Any advise would be greatly appriciated.

thank you!

---

Hi and welcome to the forums 

Unfortunately, late payments (and collections) will stay on your CR for no longer than 7.5 years (usually removed at 7 years from DOFD)

Unless you reported fraud to the police and followed identity theft procedure, there is very little chance of convincing anybody that it was a fraud. 

You can ask for reconsideration again, but depending on a reason for denial, it may go no where, plus they will have notes from your previous attempt. 

It's up to you whether you want to try again. 

Here is a thread explaining process that should be followed when identity theft occurs 

https://ficoforums.myfico.com/t5/General-Credit-Topics/Victim-of-Identity-Theft-What-To-Do-to-Protect-Yourself/m-p/2059499#M172755

Good luck!

[swpopham]

when you paid the collection you amitted they are yours. Reguardless if they are not. You can try a good will letter or disputing them, its not going to do you any good at this application. Chases' reasons are well documented and another phone call to the reconsideration department isnt going to do you any good. They will say its been re-reviewed already and there is nothing they can do. Id say its also accurate as you were seeking credit reguardless if it was business or personal, you still have access for it and are PERSONALLY responsible for it. Everyone knows capital one pulls all 3 reports and reports to your personal credit the business account.

[difringe]

---

@swpopham wrote:

when you paid the collection you amitted they are yours. Reguardless if they are not. You can try a good will letter or disputing them, its not going to do you any good at this application. Chases' reasons are well documented and another phone call to the reconsideration department isnt going to do you any good. They will say its been re-reviewed already and there is nothing they can do. Id say its also accurate as you were seeking credit reguardless if it was business or personal, you still have access for it and are PERSONALLY responsible for it. Everyone knows capital one pulls all 3 reports and reports to your personal credit the business account.

---

most of the above is true, hard to imagine any recourse without you having pursued the fraud charge legally, especially since you paid the collection, but the last bit about cap 1 is unneccessary, everyone doesn't frequent myfico, etc. to know that about cap 1 

[Anonymous]

Sorry for the denial.  As mentioned, paying the collections does help but it will stay on your report unless you specifically requested and they agreed to a PFD, Pay for deletion. It will stay on there for at least 7 years from the date of first deliquency.

I'm actually surprised that Chase said they denied you for late payments. Not that it can't happen obviously but they are more notorious for denying people for too many inquiries or too many accounts in too short of period.  I've seen a lot of people get accepted with lates on their report and with decent starting lines too but then again those cards were CF, CFU, CSP cards. Maybe the CSR is more strict. 

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/CSP-approved/m-p/5558005#M591321

[CreditInspired]

---

@Anonymous wrote:

Hello,

I applied for the CSR and was denied due to my credit report stating some missed payments for some credit cards that I did NOT apply for. They ended up going to collections and I eventually paid them all off to the collections company. My question is, if I paid the collections company shouldn't the orginal lender remove all the late payments? Again, I did not apply for these cards(family member did it without informing me), so did was not sure what the outcome would be if I reported fraud. Ultimately my goal is to have it all cleared up. These cards are nearly 4-5 years old and all closed. my current score is 750TU 748EQ 720EX. They told me I had too many inquiries in recently, but all my credit cards are business cards. 

I Applied for:

Amex amazon business - 10/2018 $3000limit EX pull 

Capital one spark - 1/2019 (recently learned about this reflecting on my personal credit report... not too happy about it)$30000limit EQ EX pull

CBI - 7/1/2019 $30000limit EX pull

I informed chase that all my most recent inquries were business related and I have yet attempt to apply for a personal card. I requested them to reconsidered, but they declined. How many times can I request to be reconsidered? Any advise would be greatly appriciated.

thank you!

---

Were these fraudulent applied-for cards Chase credit cards? If yes, even when they are removed from your credit reports 7 years down the road, it will still be in Chase's internal records. Since you did not move forward with legally pursuing the person responsible (file a police report), Chase can only assume the charges/collection(s) were yours.

Of course, this is in hindsight. But know for the future that it is illegal for someone/anyone to open accounts in another person's name and they can be prosecuted for doing so.

[Anonymous]

sounds like you have more than 5 inquiries possibly? this would go against chases 5/24 rule. type in 5/24 in here if your not sure what that is and youll see. this would be the main reason for your denial, if you do have more than 5. 

[Anonymous]

---

@Anonymous wrote:

sounds like you have more than 5 inquiries possibly? this would go against chases 5/24 rule. type in 5/24 in here if your not sure what that is and youll see. this would be the main reason for your denial, if you do have more than 5. 

---

NO, it's 5 accounts not inquiries.

[Anonymous]

That’s interesting.

Thank you all for the responses. I’m going to work on the good will letters and hopefully it will work out. They are two department cards: old navy and Walmart. And one with BOA. All very small balances during the time it was closed. I thought it was an easy fix just paying the collections company as they removed the collections mark once I paid. Will follow up if anything changes.

[MyFault]

---

@Anonymous wrote:

 My question is, if I paid the collections company shouldn't the orginal lender remove all the late payments? Again, I did not apply for these cards(family member did it without informing me), so did was not sure what the outcome would be if I reported fraud. Ultimately my goal is to have it all cleared up.

---

Unfortunately no. It is entirely up to the original lender, or collection company to remove baddies. When you called to pay these derogatory accounts, you should have asked for them to remove the lates and provide documentation to you that they would, if they agreed. But there is no guarantee they would agree to that. I've had some lenders tell me yes in the past, and some tell me no.

Also, you should have pursued legal action. Maybe i'm harsher than most, but i don't care if you're family. If you go behind my back and open accounts against my credit file, that's fraud and i'm making sure you face the music. Just because they're family doesn't excuse them ruining my financial future.

You can call and ask the lender to remove the late payments, however most of the time they'll say no. It however doesn't hurt to ask.

As already mentioned, what's done is done and the derogatories should have been taken care of before you applied. However, you didn't know. 

It's possible however that if the lender is nice, and decides to remove the lates, you could try to re-apply and Chase will see they've been removed and you'll have proof of what you were telling them.

Or, you can just wait till 7yrs, and then dispute them to have them removed. They however are not always guaranteed to fall off or be removed, so again it's a gamble.