Chase Pre-selected Freedom Unlimited Denial

[kudosalert]

Hi Folks,

I was on the fence about this one but decided to go for it since I dont have any cards with Chase. Received one of those mailers that said "pre-selected", a fixed APR. Applied, got 30 days notices > 7-10 days message > called in to check with a specialist. They listed the reasons for denial as being: too few accounts openned, age of profile too short.

I have seen other people get approved with similar profiles as me but i guess they had something I didnt. I did explain to them the gap in my credit history (15 years) and asked to reconsider but it was still a no. I dont think i'll be calling in a second time to try again.

Just wanted to give people some DPs.

[Anonymous]

Sorry about the denial. How old are your current open cards? 

[Openwater]

Sorry to hear. Chase is one of the pickiest banks, IMO. They have a very select criteria and if you have anything questionable they give you the boot. On to better banks!

[kudosalert]

My oldest card is from September 2018. The other cards were all from 2019. 

How did you get such a big CL from Discover? Was that your SL or from cli?

[Remedios]

@kudosalert  thank you for sharing. I think it would be really helpful for others if you were to include number of cards opened in the last two years and age of your oldest card. 

You shared, so I'll share, too

I've banked with them forever, had mortgage, cars, investment accounts. If it exists, I have it with Chase.

When I initially applied, they told me same thing as they told you "Go be someone else's problem for a while"

I was super ticked off and princessed for months. 

I tried a year later and they were more than happy to start throwing imaginary money at me.

Like you, I had a big gap, and when my family situation changed, I only had closed accounts on file. 

So, pretty much, if it's Chase card you want, a little bit of time with no apps, and it will happen. 

[Anonymous]

Your file doesn't seem that thick or established, at least for Chase. And I don't recall seeing any DP's for similar profiles that were approved.

That said, it's not like there are no other CC's out there. If Chase is Bank you truly want and can stay under 5/24 for it, it shouldn't too much longer. Maybe even add another card to your linup? Or perhaps get an SSL to satisfy loan requiremt, and show them some diversity. 

Sorry for your denial, but good luck on the next app!

[Anonymous]

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@kudosalert wrote:

Hi Folks,

I was on the fence about this one but decided to go for it since I dont have any cards with Chase. Received one of those mailers that said "pre-selected", a fixed APR. Applied, got 30 days notices > 7-10 days message > called in to check with a specialist. They listed the reasons for denial as being: too few accounts openned, age of profile too short.

I have seen other people get approved with similar profiles as me but i guess they had something I didnt. I did explain to them the gap in my credit history (15 years) and asked to reconsider but it was still a no. I dont think i'll be calling in a second time to try again.

Just wanted to give people some DPs.

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I am sorry to hear this. Chase just keeps surprising me more and more each day, you mentioned your oldest card was back from September 2018 and the rest from 2019, so your oldest account is over a year old and still denied. I got approved for the Freedom card with my oldest card being only 9 months old, cold app. What are your scores if you don't mind sharing? 

[kudosalert]

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@Anonymous wrote:

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@kudosalert wrote:

Hi Folks,

I was on the fence about this one but decided to go for it since I dont have any cards with Chase. Received one of those mailers that said "pre-selected", a fixed APR. Applied, got 30 days notices > 7-10 days message > called in to check with a specialist. They listed the reasons for denial as being: too few accounts openned, age of profile too short.

I have seen other people get approved with similar profiles as me but i guess they had something I didnt. I did explain to them the gap in my credit history (15 years) and asked to reconsider but it was still a no. I dont think i'll be calling in a second time to try again.

Just wanted to give people some DPs.

---

I am sorry to hear this. Chase just keeps surprising me more and more each day, you mentioned your oldest card was back from September 2018 and the rest from 2019, so your oldest account is over a year old and still denied. I got approved for the Freedom card with my oldest card being only 9 months old, cold app. What are your scores if you don't mind sharing? 

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FICO8: 702

Util: ~20% 

I've only had 1 car loan for a new car back in my 20s. Will never take another out to buy a new car again. I own my own home so no mortage.

[zerofire]

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@kudosalert wrote:

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@Anonymous wrote:

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@kudosalert wrote:

Hi Folks,

I was on the fence about this one but decided to go for it since I dont have any cards with Chase. Received one of those mailers that said "pre-selected", a fixed APR. Applied, got 30 days notices > 7-10 days message > called in to check with a specialist. They listed the reasons for denial as being: too few accounts openned, age of profile too short.

I have seen other people get approved with similar profiles as me but i guess they had something I didnt. I did explain to them the gap in my credit history (15 years) and asked to reconsider but it was still a no. I dont think i'll be calling in a second time to try again.

Just wanted to give people some DPs.

---

I am sorry to hear this. Chase just keeps surprising me more and more each day, you mentioned your oldest card was back from September 2018 and the rest from 2019, so your oldest account is over a year old and still denied. I got approved for the Freedom card with my oldest card being only 9 months old, cold app. What are your scores if you don't mind sharing? 

---

FICO8: 702

Util: ~20% 

I've only had 1 car loan for a new car back in my 20s. Will never take another out to buy a new car again. I own my own home so no mortage.

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While I commend you for your fiscal responsibility, Chase does not see it the same way. The Chase gate blows open at 720 and your utilisation is slightly elevated at 20%. Remember Pre-selected does not mean Pre-Approved or Pre-Qualified. I can Pre-select you for the AmEx Centurion card but that does not mean you will get it approved or an invite for that matter.  My guess is that you used the Bank of America reading style on a Chase document which is a big no-no. You also have to remember that any bank document in the mail is usually 2-4mo old data generating it. You might have had a better profile for approval back then since your profile is borderline. Lastly Chase has no ability to see things not on your profile especially if it was removed 10 years after it closed thanks to your 15yr gap. In Chase's eyes you are a fresh client who is likely not ready yet or with your explanation a client who's money management skills might have atrophied. They consider that risky for now. Give yourself some more time to rack up history and try again in about 6mo.

[Medic981]

The only reason I think I am in with Chase is that I have an auto lease through them. After 13 months of on-time lease payment history, Chase had me pre-approved for Chase core cards. I was 5/24 at the time and gardening, however, I went in branch to confirm the pre-approval and applied. Previously, I burned Wa-Mu for $1K prior to Chase acquiring them.