Chase Amazon Visa Recon Denial....What do ya'll think?

[Anonymous]

I responded to a thread last night but i needed insight from other MyFico'ers to see what they think.  

I applied for the Amazon Chase Visa yesterday and first it said 30 days and then switched to 2 weeks. Pulled EX 684 and TU at 710 with 2 paid charge offs; UTI is 10%, 6 cards in the last 3 months and AAoA is 3 years and 3 months. I called the Recon Line and they said it was denied. Asked for the recon and after being on the phone for 20 mins still DENIED. Reason: Too much available credit; not enough usage, too many new accounts. They asked me about late payments in 2007 and the disputed information on my CR that I am challenging. I am very disappointed in chase even though I paid my car loan through them from back in 2012-2016 with excellent payment history. Very picky and sensitive lender; I'm never wasting another inquiry with them. Like they put customer is dog houses; as of today they are on my blacklist. I will take my business happily to AMEX, NFCU and PenFed.

I am planning on writing a letter to the Chase Credit Card Services CEO but I wanted to ask your opinion before I do it.

[fltireguy]

Chase can be strange at times, so it seems.
Late pays from 2017? Were they with Chase or WaMu? They should not be on your reports any more, since that is well past 7 years.

The too many new accounts really surprises me as well, I have a ton and have no issue at all - but everyone's profile is different, and apparently for some reason they do not like yours. What else could possibly in your profile that they do not like-there has to be a better reason, your scores aren't too far off of mine....

[thummel]

If there asking about late payments from 2007 which shouldn't be on your report anymore is a problem. Did you ever have a chase account or wamu account and pay late on it?

[trant3]

Just be patient my friend. I, too, have 2 paid CO in 2012, yet they seem to like my profile and approved me for all cards app'd for (besides 5/24 cards). I think the 6 new accounts within 3 months spooked them. 

[sjt]

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@Anonymous wrote:

I responded to a thread last night but i needed insight from other MyFico'ers to see what they think.  

I applied for the Amazon Chase Visa yesterday and first it said 30 days and then switched to 2 weeks. Pulled EX 684 and TU at 710 with 2 paid charge offs; UTI is 10%, 6 cards in the last 3 months and AAoA is 3 years and 3 months. I called the Recon Line and they said it was denied. Asked for the recon and after being on the phone for 20 mins still DENIED. Reason: Too much available credit; not enough usage, too many new accounts. They asked me about late payments in 2007 and the disputed information on my CR that I am challenging. I am very disappointed in chase even though I paid my car loan through them from back in 2012-2016 with excellent payment history. Very picky and sensitive lender; I'm never wasting another inquiry with them. Like they put customer is dog houses; as of today they are on my blacklist. I will take my business happily to AMEX, NFCU and PenFed.

I am planning on writing a letter to the Chase Credit Card Services CEO but I wanted to ask your opinion before I do it.

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I think what spoked them was the 6 new accounts within the last 3 months. I would wait another 6 months and not open any other accounts, then apply again.

[Anonymous]

If that was 6 new CC accounts in the last three months, then you must have run smack dab into Chase's notorious 5/24 rule (no approval if you've opened more than 5 new credit card accounts in the last 24 months).

[heyryan]

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@Anonymous wrote:

If that was 6 new CC accounts in the last three months, then you must have run smack dab into Chase's notorious 5/24 rule (no approval if you've opened more than 5 new credit card accounts in the last 24 months).

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According to Doctor Of Credit, the Amazon card isn't covered under 5/24.

@trant3 and @sjt touched on this, but without knowing OP's complete story, here's my educated guess:

The problem is that with past charge offs (even paid), and several new accounts in such a short period of time, Chase wants a longer payment history on them to help show that the OP isn't going to repeat past mistakes. An AAoA of 3 yrs is on the shorter side, and 6 accounts in the last 3 months is a LOT to most lenders, even with a perfect credit profile. If those 6 new accounts were a year old instead of 3 months, and showed a nice, consistent payment history, the outcome would've been different.

Chase can be forgiving of past mistakes, but it takes patience and persistence!

Good luck!

[fltireguy]

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@Anonymous wrote:

If that was 6 new CC accounts in the last three months, then you must have run smack dab into Chase's notorious 5/24 rule (no approval if you've opened more than 5 new credit card accounts in the last 24 months).

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This is not the case.... This card (as well as AARP, Disney, IHG, and a few others) are NOT subject to 5/24

[Anonymous]

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@fltireguy wrote:

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@Anonymous wrote:

If that was 6 new CC accounts in the last three months, then you must have run smack dab into Chase's notorious 5/24 rule (no approval if you've opened more than 5 new credit card accounts in the last 24 months).

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This is not the case.... This card (as well as AARP, Disney, IHG, and a few others) are NOT subject to 5/24

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I stand corrected. However, the reasons the OP reported Chase giving do sound suspiciously similar to those they give when they decline apps that do fall under 5/24.

I admit to being kind of meh when it comes to Chase anyway - as far as I can see I stand no good prospects of getting a card from them anytime soon, directly under their name or co-branded to someone else, because they really don't like BK's and because I burned them on a Visa in my own BK, so. I'd like to be proven wrong, though, especially for cobranded cards like AARP which I joined just last month!

[fltireguy]

because I burned them on a Visa in my own BK

I think that is pretty much the kiss of death with Chase.