Chase Amazon Denial - "...too few open credit card accounts."

[Anonymous]

Hello,

I applied for the Amazon Prime Visa Signature card and got the following denial resaon:

"Your credit report reflects too few open credit card accounts"

I did a bit of digging around and this does not seem to be a common denial reason. This was the only reason listed and I was hoping to get feedback from the members here on how to proceed. This would be my only credit card. I do have other forms of credit in good standing, auto loan, student loan, fully paid motorcycle loan, etc. None of those have ever had a late payment.

Is this reason something that may be reconsidered if I give Chase a call?  

Thanks!

[Anonymous]

You can try to recon for sure, but Chase doesn't generally want to be your first credit card. They tell people that they want to see a year of responsible use with another lender first.

Good luck.

[Anonymous]

You could try, but I don't know if you'd be successful. A Signature card, from my understanding - I've never owned one myself - is a premium Visa card, so Chase's requirements for that version would be stricter than for a regular Amazon Visa card. Since you don't have any other CC';s, I suggest that you start with other cards with less strict requirements first, as, notwithstanding your other non-CC loans, you're a builder as far as CC's are concerned. Did you consider Synchrony's regular Amazon store card if you want an Amazon card? Stipulating that your other loans are in good standing, your FICO score should be good enough for a decent SL on that store card.

[fltireguy]

I would call Chase Lending and recon... The UW for this particular card seems to be the least stringent of their entire lineup, from what I see on here...

Just because it is a signature card, does NOT mean the UW is any stricter btw...

[sjt]

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@Anonymous wrote:

Hello,

I applied for the Amazon Prime Visa Signature card and got the following denial resaon:

"Your credit report reflects too few open credit card accounts"

I did a bit of digging around and this does not seem to be a common denial reason. This was the only reason listed and I was hoping to get feedback from the members here on how to proceed. This would be my only credit card. I do have other forms of credit in good standing, auto loan, student loan, fully paid motorcycle loan, etc. None of those have ever had a late payment.

Is this reason something that may be reconsidered if I give Chase a call?  

Thanks!

---

What is your credit profile?

[Anonymous]

In response to fitireguy, this card is not always a Visa Signature, DESPITE the marketing claiming it is.

In their Pricing & Terms of the card from Chase.com, it says: "Based on this review, you may receive a card with different costs or you may not receive a card. If approved for an account, your credit access line will be at least $500." This means that you may in fact get a Visa Signature (usually if your SL is > $5,000) or a Visa Platinum account ($500<SL<$5,000).

Therefore, the underwriting is not any more stringent, since you may still also receive a Platinum account if you apply with a lower minimum SL. However, partner and co-branded cards are always known to have less stringent underwriting than the bank's proprietary cards.

To the OP, yes Chase does not like to be your first (or sometimes even second) card. They do care more about revolving accounts for CC applications, for obvious reasons.

[Anonymous]

But this all depends if you have any other previous relationships with Chase!

[fltireguy]

Sapphireminer - Absolutely incorrect.. ALL of the Amazon Prime Visa cards are signature cards. Regardless of it is a $500 or a $15000 CL, it is issued as a VS, period. However, Chase may have inadvertently used their generic terminology for all of their OTHER cards in the marketing, but that statement does not apply to this card. There are a lot of people on MF that have this card with limits well under $5k, including me (and more than a few with a $500 CL)

Remember, the credit limit for a card does NOT dictate whether the card is a Vs or not. It is up to the issuing bank, and the CL is completely up to them!!

[fltireguy]

Does ANYONE on here have this other version, or has anyone ever seen it?


Therefore, the underwriting is not any more stringent, since you may still also receive a Platinum account if you apply with a lower minimum SL. However, partner and co-branded cards are always known to have less stringent underwriting than the bank's proprietary cards.

[Anonymous]

My mom has an Amazon card with a $1k limit and it is a Visa Platinum account. She got it back in 2007, maybe it has changed since then? It does not say Signature under the Visa logo.