Chase Sapphire - Recon #1 "Reapplied" and Denied - Should I stop calling?

[seejaneworkit]

Background

I have been gardening and applying about every 2-3 months which I understand puts my inquiries up higher. However my score has been consistently rising with the balance pay downs I've been doing. I have quite a few installment accounts which is fine because they are primarily motorcycles with low payments and my income is high enough to adequately support them. I have a few very old ( nearly gone with 7 years ) late payments for Capital One and Wells Fargo EFS from 2008. I'm awiting a good will consideration from Capital One as they already removed 2 for me previously. My scores are currently: EQ 696, TU 714, EX 721 and will likely rise again mid-week when the rest of my pay downs report into the credit bureaus ( with a slight hit for the recent HP's ).

In December and January I was added as an AU for my husbands 2 new Cap 1 cards. I also received a new Cap 1 in December, a CareCredit in January ( for Lasik ) and a new Citi card which I just received a few days ago.  My total usage percentage is about 40% until my new balance pay downs are updated - then it will be closer to 37%. Nearly all credit cards are less than 50% usage at minimum. My CareCredit is the only one with a higher balance - having just done Lasik last week.

Yesterday

I'm travelling in March or April and wanted to get a solid travel card for the miles. I like to take larger trips at least twice a year with my husband. I applied for both Chase Sapphire and Barclay Arrival+ as I like their benefits and the way the miles are earned between the two. 

For Chase I received a 10-30 day wait for approval and called the recon number last night. The woman I spoke to asked about all the revolving accounts ( I explained my husband and I work on them and resell for a profit so its a revolving inventory of motorcycles ) - she seemed to not like that - perhaps I simply suggest we have multiple older-aged children who all drive or ride ( also true )? She further mentioned all the recent HP over several months consistently in the last year and I explained we are working to weed out older lower balance cards with higher interest rates and I'm also working to build my husband and daughters credit by adding them as AU's - she seemed ok with this. She then asked me if it was ok if she reapplied and I said sure ( feeling a bit sick ). She came back and said unfortunately because of..."everything she had just asked about" ( paraphrase )...I cannot be approved at this time.

I have yet to call Barclay ( 7-10 days then checked status online and was denied ) as I was a little shell-shocked from my first recon to Chase. My question is, do I stop calling Chase if the first analyst already "reapplied"? Or is that what happens *every* time you call for a recon? I will happily try once or twice again if thats the standard process for a recon. Please advise.

[Anonymous]

Keep trying. Chase AND Barclays recon are both very solid. 

[Anonymous]

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@Anonymous wrote:

Keep trying. Chase AND Barclays recon are both very solid. 

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+1 Definitely try again 

[Anonymous]

try the venture card.

[seejaneworkit]

Tried again with Chase and the very lovely gentleman reviewed the notes for a solid 10 minutes and came back to say he agreed with his colleague that I have too many installment loans and too many credit cards with a higher balance. Feeling like those notes are going to plague any further recon calls I try to make. I would assume at this point its probably better to cut my losses with Chase as they have not approved an application for me in years.

I'll look at Cap 1 Venture - already a solid customer there so perhaps its a no-brainer for them.

Will recon Barclay shortly as well.

[Anonymous]

Sorry to hear that 

[Anonymous]

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@seejaneworkit wrote:

For Chase I received a 10-30 day wait for approval and called the recon number last night. The woman I spoke to asked about all the revolving accounts ( I explained my husband and I work on them and resell for a profit so its a revolving inventory of motorcycles ) - she seemed to not like that - 

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Pause,

It appears you are using personal lines of credit as business credit. Yea , I see why they don't like that. You shouldn't be be doing that. If you buy enough bikes to make a CA raise an eyebrow, this means you need to formalize a business and take out all your loans through the business.

The way you handle your business credit and don't separate it would make anyone nervous to give you another line. Its probably obvious  to anyone looking at your reprot as to what you are doing.You probably have 5+ loans out on  bikes and that's way above average . Its a red flag for someone acting as a reseller without a business account.

[seejaneworkit]

The total number of loans toward the new business are 2 - the remainder of the loans are actually valid purchases for personal use. Business loans can be quite hard to get when you are first starting out and aren't required in order to start a new business. Nevertheless, their main statement for concern was primarily total accounts. Oddly enough, that same value shows as a plus on my fico scores. 

As we are planning to close up shop for what was a challenging business to get up and running, those assets are going to be moved over for personal use. Either way the loans won't be going away so its a moot point hehe.

Thank you for pointing out where they may have waivered in their decision-making. I think for future CA conversations I will stick to personal use only. 

[Anonymous]

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@seejaneworkit wrote:

The total number of loans toward the new business are 2 - the remainder of the loans are actually valid purchases for personal use. Business loans can be quite hard to get when you are first starting out and aren't required in order to start a new business. Nevertheless, their main statement for concern was primarily total accounts. Oddly enough, that same value shows as a plus on my fico scores. 

As we are planning to close up shop for what was a challenging business to get up and running, those assets are going to be moved over for personal use. Either way the loans won't be going away so its a moot point hehe.

Thank you for pointing out where they may have waivered in their decision-making. I think for future CA conversations I will stick to personal use only. 

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No problem. Sorry to hear that the business venute didnt work out. Much respect for trying!

[kdm31091]

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@seejaneworkit wrote:

Background

I have been gardening and applying about every 2-3 months which I understand puts my inquiries up higher. However my score has been consistently rising with the balance pay downs I've been doing. I have quite a few installment accounts which is fine because they are primarily motorcycles with low payments and my income is high enough to adequately support them. I have a few very old ( nearly gone with 7 years ) late payments for Capital One and Wells Fargo EFS from 2008. I'm awiting a good will consideration from Capital One as they already removed 2 for me previously. My scores are currently: EQ 696, TU 714, EX 721 and will likely rise again mid-week when the rest of my pay downs report into the credit bureaus ( with a slight hit for the recent HP's ).

In December and January I was added as an AU for my husbands 2 new Cap 1 cards. I also received a new Cap 1 in December, a CareCredit in January ( for Lasik ) and a new Citi card which I just received a few days ago.  My total usage percentage is about 40% until my new balance pay downs are updated - then it will be closer to 37%. Nearly all credit cards are less than 50% usage at minimum. My CareCredit is the only one with a higher balance - having just done Lasik last week.

Yesterday

I'm travelling in March or April and wanted to get a solid travel card for the miles. I like to take larger trips at least twice a year with my husband. I applied for both Chase Sapphire and Barclay Arrival+ as I like their benefits and the way the miles are earned between the two. 

For Chase I received a 10-30 day wait for approval and called the recon number last night. The woman I spoke to asked about all the revolving accounts ( I explained my husband and I work on them and resell for a profit so its a revolving inventory of motorcycles ) - she seemed to not like that - perhaps I simply suggest we have multiple older-aged children who all drive or ride ( also true )? She further mentioned all the recent HP over several months consistently in the last year and I explained we are working to weed out older lower balance cards with higher interest rates and I'm also working to build my husband and daughters credit by adding them as AU's - she seemed ok with this. She then asked me if it was ok if she reapplied and I said sure ( feeling a bit sick ). She came back and said unfortunately because of..."everything she had just asked about" ( paraphrase )...I cannot be approved at this time.

I have yet to call Barclay ( 7-10 days then checked status online and was denied ) as I was a little shell-shocked from my first recon to Chase. My question is, do I stop calling Chase if the first analyst already "reapplied"? Or is that what happens *every* time you call for a recon? I will happily try once or twice again if thats the standard process for a recon. Please advise.

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Are you saying during the recon they applied again and you took another HP? I would have said no. Most recons do not involve that!