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Chase FU--Denied...UPDATE 4-17 APPROVED

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Valued Contributor

Chase FU--Denied...UPDATE 4-17 APPROVED

Pulled the trigger on FU and came back with an instant denial and 7-10 day letter--didn't see that coming! I got approved for INK about 3 weeks ago via in-branch pre-approval and with the lowest APR--so did I apply too soon? I'm def. still under 5/24 (4/24 to be exact) as I've read business cards don't count. Possibly I'm at max. they'll lend me for the time being...?. Who knows? Guess I'll just have to wait for the letter.
EQ Fico 8 at time of pull 708---EX 712. Total CC UTL 2%. No derogs except 1-30 day late from 2 years ago.
UPDATE: Called recon this morning: Denial reason--Too many recent requests for credit.
DP--I knew there was a limit for no. of apps--I thought from what I've read on here it's no more than 2 in 30 rolling days...I guess it's not.
2ND UPDATE: Approved on recon for $5200. Don't know APR yet--EDIT-25.99% OUCH. Lending said basic reason was app was too close to the INK application. Mods please move to approvals if deemed necessary.

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 1 of 12
11 REPLIES 11
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Valued Contributor

Re: Chase FU--Denied...


That sucks... sorry 😐
Did you try and call for reconsideration?

You said you're at 4/24... were some of these opened up very recently?
April 2020
Experian Fico 8. 703
Transunion Fico 8. 711
Equifax Fico 8. 717

Capital one QS. $700
.
Capital one QS1. $2250
Discover IT Cashback. $12,000
PNC cash rewards signature Visa. $17,500
Chase SW rapid rewards signature visa $6900
Amex Green Card NPSL POT $11,000

All cards opened between Oct 2018. - March 2020

Message 2 of 12
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Valued Contributor

Re: Chase FU--Denied...


@CS1974 wrote:

That sucks... sorry 😐
Did you try and call for reconsideration?

You said you're at 4/24... were some of these opened up very recently?

Cards opened in last 2 years: NASA July 17'--NFCU Oct. 17'--Penfed June 18'--AMEX Gold August 18'. Last before that: Nordstrom Feb. 17'.

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 3 of 12
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Community Leader
Super Contributor

Re: Chase FU--Denied...

I concur calling the recon line but best guess is it was too soon after your last app to apply for another Chase card even if this one was a personal card and last approval was a business card.

Message 4 of 12
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Valued Contributor

Re: Chase FU--Denied...

I'd call tomorrow to see if they can reconsider.

April 2020
Experian Fico 8. 703
Transunion Fico 8. 711
Equifax Fico 8. 717

Capital one QS. $700
.
Capital one QS1. $2250
Discover IT Cashback. $12,000
PNC cash rewards signature Visa. $17,500
Chase SW rapid rewards signature visa $6900
Amex Green Card NPSL POT $11,000

All cards opened between Oct 2018. - March 2020

Message 5 of 12
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Valued Contributor

Re: Chase FU--Denied...


@simplynoir wrote:

I concur calling the recon line but best guess is it was too soon after your last app to apply for another Chase card even if this one was a personal card and last approval was a business card.


I could be wrong--but I thought the rule was no more than 2 apps every 30 (or possibly 60) days?

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 6 of 12
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Community Leader
Super Contributor

Re: Chase FU--Denied...


@Credit-hoarder wrote:

@simplynoir wrote:

I concur calling the recon line but best guess is it was too soon after your last app to apply for another Chase card even if this one was a personal card and last approval was a business card.


I could be wrong--but I thought the rule was no more than 2 apps every 30 (or possibly 60) days?


It's honestly YMMV in my opinion and with Chase tightening up with the rules on apps recently I wouldn't want to rock the boat anyways but figure if OP already took the HP hit for it might as well see what they have to say.

Message 7 of 12
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Valued Contributor

Re: Chase FU--Denied...


@simplynoir wrote:

@Credit-hoarder wrote:

@simplynoir wrote:

I concur calling the recon line but best guess is it was too soon after your last app to apply for another Chase card even if this one was a personal card and last approval was a business card.


I could be wrong--but I thought the rule was no more than 2 apps every 30 (or possibly 60) days?


It's honestly YMMV in my opinion and with Chase tightening up with the rules on apps recently I wouldn't want to rock the boat anyways but figure if OP already took the HP hit for it might as well see what they have to say.


OP (me) took TWO HP's for that application--EX & EQ. I'll call and hear what they have to say--but now I'm not sure I really want to recon b/c they'd probably stick me with a $1000 CL and the highest APR available--and I just dumped a Chase card that fit that description last week. Forget about the UR point system--INK will be strictly a cash back ONLY card since it's 1cpp.

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 8 of 12
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Valued Contributor

Re: Chase FU--Denied...

I'm sure many people here could use the same title of this thread for any of their cards...Smiley Very Happy

 FICO 8
Message 9 of 12
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Valued Contributor

Re: Chase FU--Denied...UPDATE 4-17

Update in beginning of thread.

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 10 of 12
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