Actually that would work to. It's almost like you could achieve a better situation with Chase if you just got rejected by three other prime lenders. Since then you wouldn't have too many new accounts, and new accounts lacking in payment history. Granted 3 of my recent inquiries are irrelevant. One was a denial for the Better Balance Rewards card since I was deemed to have adequate credit with BOA. Second, was to move CL between old card to new card to get approved. Third, is because AMEX decided one hard pull for my card with them wasn't enough and decided to do a fourth for jolly good funa all on Experian 
. All and all of those 4 inquiries the only net result was an AMEX BCP that I really like so far. Also, can someone explain the logic of why moving Credit Limits around results in any pull at all? Let alone a hard which I think is considerably wrong.
Curious to look into the study that broadly states that people with 6 inquiries are 8x more likely to file for bankruptcy.
@Anonymous wrote:Actually that would work to. It's almost like you could achieve a better situation with Chase if you just got rejected by three other prime lenders. Since then you wouldn't have too many new accounts, and new accounts lacking in payment history. Granted 3 of my recent inquiries are irrelevant. One was a denial for the Better Balance Rewards card since I was deemed to have adequate credit with BOA. Second, was to move CL between old card to new card to get approved. Third, is because AMEX decided one hard pull for my card with them wasn't enough and decided to do a fourth for jolly good funa all on Experian
Curious to look into the study that broadly states that people with 6 inquiries are 8x more likely to file for bankruptcy.
You may think it may be consideraibly wrong but the lender would assert otherwise. Their risk assessment for reallocating credit lines (or consolidating internal accounts) is basically part of their underwriting criteria and internal credit policies - things you can't change.
This allows them to review and determine (based on your overall credit picture) and other internal factors whether such reallocation is adequate or right-sized based on your overall exposure with them and if any risk flags are present (DTI fluctuations, elevated shifts in utilization, score deterioration, abnormal credit patterns, pyramiding debt, excessive new credit obligations or inquries, etc.). Citi and BoA are known to employ this HP practice while Chase can sometimes perform a similar review (via SP) if any internal or behavioral scoring flags mandates such requirement.
I am in a similiar situation. Recently applied for Chase Freedom hoping to take advantage of their intro offer. After removing the credit freeze and going through an enormous amount of questions and verification....I too was denied the Freedom card.
After discussing my situation with the rep.....one thing came to mind and it was the inquisition for sucha short history at my age. Regardless, the final review ended up being a decline for the following reasons:
The account balances were too high to the credit limits. This translates into a 43% utilization on my accounts only. Add in the AU accounts and the utilization drops to 16%.
However, Chase would not consider the AU credit factor even though I pay on all the accounts.
Thinking I should wait for the decline letter to arrive and then call the backdoor for recon.
I honestly think the key factor was the short history; as the oldest account reporting is 5 years and is an AU account on Capital One.
Any thoughts?
Has anyone else ran into a situation where Chase would not consider the over all credit file?
