Chase Freedom Unlimited - Denied

[Anonymous]

First post on this forum, here's some background.

Currently 26 y/o. Started credit at 18 with Wells Fargo Student card and opened a couple other cards back then (Amazon, Sony, etc). Fast forward to now, the Wells Fargo card got placed as deliquent/closed with a balance of $1600 (fees included). All of my other cards also closed/charged off but have been taken care of. In addition to that, in 2016 one of my apartment communities sent me to collections for something my roomate did and I never took care of it. It's sitting on my reports at $1300.

Over the past year I decided to go on the offense. I was able to get a leased car through Honda. That was in November. Always consistently paid on time. I opened a Cap1 Secured Platinum in spring of last year at $200. 6 months after good history it was raised to $500. Then in fall of last year I opened a Cap1 Spark business card. It was approved for $500 and have always maintained great payment there too. Since then I've been unable to get Cap1 to go up on limits and they refuse to upgrade my Platinum. Recently I've gone more aggressive to see if it would help and have been charging up to about 90% utilization and making instant payments and always making sure that the balance is PIF before statement close.

I just opened a Discover It Secured at $200 last month, and plan on using that for it's rewards and hopefully graduating and getting CLI after 8 months. Same tactic, charge it up, pay off instantly. I also plan on laying down another deposit on this soon.

Today I applied for Chase Freedom Unlimited (EXP: 612 TU: 613) and was denied instantly. I called recon, and he stated that I was denied for the collections and deliquincies on my credit and asked me to explain them. Not much to really explain, no excuse honestly. I told him that I made some mistakes at 18 and was trying to rectify everything now. Told him about my other cards and how low the limits were and was trying to take advantage of this card for low utilization + rewards. He said there was no way to move forward with the app.  I asked if there was anything he could do, and he said he could run it again but would honestly not see any approval happening.

So, are my suspicions correct? Time to lay low and just keep building and working on those deliquencies? Or is there another way I can squeeze this? Ultimately I'm just trying to get my credit lines up so that I can A) stop getting so close to max and B) Improve my score a bit and create some better history on larger credit lines.

Any help is greatly appreciated. Feel free to throw in some advice!

[Anonymous]

You're done W/ Chase until you fix the issues.  They don't budge on bigger items usually.

[Anonymous]

Bummer. I definitely plan on fixing them in the near future. Just trying to negotiate a bit to see if I can get them to agree to a PFD. So far it's been a no go.

[Remedios]

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@Anonymous wrote:

First post on this forum, here's some background.

Currently 26 y/o. Started credit at 18 with Wells Fargo Student card and opened a couple other cards back then (Amazon, Sony, etc). Fast forward to now, the Wells Fargo card got placed as deliquent/closed with a balance of $1600 (fees included). All of my other cards also closed/charged off but have been taken care of. In addition to that, in 2016 one of my apartment communities sent me to collections for something my roomate did and I never took care of it. It's sitting on my reports at $1300.

Over the past year I decided to go on the offense. I was able to get a leased car through Honda. That was in November. Always consistently paid on time. I opened a Cap1 Secured Platinum in spring of last year at $200. 6 months after good history it was raised to $500. Then in fall of last year I opened a Cap1 Spark business card. It was approved for $500 and have always maintained great payment there too. Since then I've been unable to get Cap1 to go up on limits and they refuse to upgrade my Platinum. Recently I've gone more aggressive to see if it would help and have been charging up to about 90% utilization and making instant payments and always making sure that the balance is PIF before statement close.

I just opened a Discover It Secured at $200 last month, and plan on using that for it's rewards and hopefully graduating and getting CLI after 8 months. Same tactic, charge it up, pay off instantly. I also plan on laying down another deposit on this soon.

Today I applied for Chase Freedom Unlimited and was denied instantly. I called recon, and he stated that I was denied for the collections and deliquincies on my credit and asked me to explain them. Not much to really explain, no excuse honestly. I told him that I made some mistakes at 18 and was trying to rectify everything now. Told him about my other cards and how low the limits were and was trying to take advantage of this card for low utilization + rewards. He said there was no way to move forward with the app.  I asked if there was anything he could do, and he said he could run it again but would honestly not see any approval happening.

So, are my suspicions correct? Time to lay low and just keep building and working on those deliquencies? Or is there another way I can squeeze this?

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Hi and welcome to the forums!

You need more time. Your credit history is short but full of delinquencies.  

My suggestion would be to age what you have now and no applications for at least a year. There is really no quick fix for what you have going on.  Keep paying on time and keep utilization low. 

I would also suggest you visit the rebuilding forum and get some suggestions on how you could potentially deal with baddies on your CR. Cant hurt to try. 

Sorry about the denial   

[Anonymous]

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@Remedios wrote:

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@Anonymous wrote:

First post on this forum, here's some background.

Currently 26 y/o. Started credit at 18 with Wells Fargo Student card and opened a couple other cards back then (Amazon, Sony, etc). Fast forward to now, the Wells Fargo card got placed as deliquent/closed with a balance of $1600 (fees included). All of my other cards also closed/charged off but have been taken care of. In addition to that, in 2016 one of my apartment communities sent me to collections for something my roomate did and I never took care of it. It's sitting on my reports at $1300.

Over the past year I decided to go on the offense. I was able to get a leased car through Honda. That was in November. Always consistently paid on time. I opened a Cap1 Secured Platinum in spring of last year at $200. 6 months after good history it was raised to $500. Then in fall of last year I opened a Cap1 Spark business card. It was approved for $500 and have always maintained great payment there too. Since then I've been unable to get Cap1 to go up on limits and they refuse to upgrade my Platinum. Recently I've gone more aggressive to see if it would help and have been charging up to about 90% utilization and making instant payments and always making sure that the balance is PIF before statement close.

I just opened a Discover It Secured at $200 last month, and plan on using that for it's rewards and hopefully graduating and getting CLI after 8 months. Same tactic, charge it up, pay off instantly. I also plan on laying down another deposit on this soon.

Today I applied for Chase Freedom Unlimited and was denied instantly. I called recon, and he stated that I was denied for the collections and deliquincies on my credit and asked me to explain them. Not much to really explain, no excuse honestly. I told him that I made some mistakes at 18 and was trying to rectify everything now. Told him about my other cards and how low the limits were and was trying to take advantage of this card for low utilization + rewards. He said there was no way to move forward with the app.  I asked if there was anything he could do, and he said he could run it again but would honestly not see any approval happening.

So, are my suspicions correct? Time to lay low and just keep building and working on those deliquencies? Or is there another way I can squeeze this?

---

Hi and welcome to the forums!

You need more time. Your credit history is short but full of delinquencies.  

My suggestion would be to age what you have now and no applications for at least a year. There is really no quick fix for what you have going on.  Keep paying on time and keep utilization low. 

I would also suggest you visit the rebuilding forum and get some suggestions on how you could potentially deal with baddies on your CR. Cant hurt to try. 

Sorry about the denial   

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Thank you for the welcome!!

Yeah unfortunately it's just one of those things I wish I had more common sense about back then. Learned my lesson and staying on the right path now. 

Thanks, I'll definitely check out the forum. Although I've probably read a lot of it. I've been a ghost on this forum for the past year and a half 

Thanks again!

[Remedios]

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@Anonymous wrote:

---

@Remedios wrote:

---

@Anonymous wrote:

First post on this forum, here's some background.

Currently 26 y/o. Started credit at 18 with Wells Fargo Student card and opened a couple other cards back then (Amazon, Sony, etc). Fast forward to now, the Wells Fargo card got placed as deliquent/closed with a balance of $1600 (fees included). All of my other cards also closed/charged off but have been taken care of. In addition to that, in 2016 one of my apartment communities sent me to collections for something my roomate did and I never took care of it. It's sitting on my reports at $1300.

Over the past year I decided to go on the offense. I was able to get a leased car through Honda. That was in November. Always consistently paid on time. I opened a Cap1 Secured Platinum in spring of last year at $200. 6 months after good history it was raised to $500. Then in fall of last year I opened a Cap1 Spark business card. It was approved for $500 and have always maintained great payment there too. Since then I've been unable to get Cap1 to go up on limits and they refuse to upgrade my Platinum. Recently I've gone more aggressive to see if it would help and have been charging up to about 90% utilization and making instant payments and always making sure that the balance is PIF before statement close.

I just opened a Discover It Secured at $200 last month, and plan on using that for it's rewards and hopefully graduating and getting CLI after 8 months. Same tactic, charge it up, pay off instantly. I also plan on laying down another deposit on this soon.

Today I applied for Chase Freedom Unlimited and was denied instantly. I called recon, and he stated that I was denied for the collections and deliquincies on my credit and asked me to explain them. Not much to really explain, no excuse honestly. I told him that I made some mistakes at 18 and was trying to rectify everything now. Told him about my other cards and how low the limits were and was trying to take advantage of this card for low utilization + rewards. He said there was no way to move forward with the app.  I asked if there was anything he could do, and he said he could run it again but would honestly not see any approval happening.

So, are my suspicions correct? Time to lay low and just keep building and working on those deliquencies? Or is there another way I can squeeze this?

---

Hi and welcome to the forums!

You need more time. Your credit history is short but full of delinquencies.  

My suggestion would be to age what you have now and no applications for at least a year. There is really no quick fix for what you have going on.  Keep paying on time and keep utilization low. 

I would also suggest you visit the rebuilding forum and get some suggestions on how you could potentially deal with baddies on your CR. Cant hurt to try. 

Sorry about the denial   

---

Thank you for the welcome!!

Yeah unfortunately it's just one of those things I wish I had more common sense about back then. Learned my lesson and staying on the right path now. 

Thanks, I'll definitely check out the forum. Although I've probably read a lot of it. I've been a ghost on this forum for the past year and a half 

Thanks again!

---

You're welcome. It will all work out just fine, it's that pesky time that always gets in a way 

[Anonymous]

Paying those collections is really your best way to improve your chances with every lender and reduce your intrest expenses going forward.  I am not surprised you were able to lease a car successfully because that is secured by the car itself.  To get good credit card approvals and to make progress on the cards you have you really have to resolve those open collections.  I was there 4 years ago and once I resolved all of my collections (three cards and a few others) then suddenly I got approved for pretty much everything I applied for and with much better terms.  You can wait for them to age off of your report but that takes 7 years and while the impact reduces over time for purpose of scoring many lenders see them as a red flag regardless of age and a reason to deny you credit.