Chase World of Hyatt Application Rejected

[Anonymous]

Hi all, just posting for DP and some advice...

My stats are:

Income 90k

Overall CL 52k (all lenders) 22k (Chase)

1/6, 5/12, 7/24, 9/all

Oldest account 3 yrs

Average age of accounts 11.5 months

Util 4% (DTI 2%?)

FICO8 EX 750 TU 741 (double pulled by Chase)

So having behaved for 6 months (only 1 new account), I decided to go for the Chase WoH seeing as it's not a 5/24 product (yet). Applied online and got 30 day, called and got 7-10. Called recon and asked, denial reason was high balances, oldest account too recent. I argued all balances have been paid just not updated yet, and that my oldest account is 3 yrs old, and I'm just new to credit in general, and I've made all payments on time. Asked my income and rent, told me to hold for 2-3. Kept making me hold, three 2-3 minute periods in a row.

Told me the recon was denied, reason being too many accounts in the last 12 months, and average age of accounts too short. Told me I opened 6 lines in the last year, I said no it's 5. Still, nothing. I offered to move CL from my United MPE ($15k limit), told me that's not an option (huh?). I asked if I should call back after my balances report lower, she told me that balances aren't the reason this time.

What should I do? Take the 2 hard pulls and move on? Call again before my application expires, after my balances report 0? This is my first time getting rejected for a CC, and I'm super sad

[CreditCuriosity]

You can try to call again or just lick your wounds and move on and eat the two hps... Depends if you want to be put under a microscope and possibly have you other Chase cards closed down as they have been doing that to some recently.  I would suggest just moving no and trying again in 6 months to a year when you activity of credit seeking has slowed down.  

[Anonymous]

Did the same move last week and got same 30 days notice. But my numbers are not so good as yours. I am not going to call recon. Will be waiting for the decision)

Income 90k

Overall CL 29k (all lenders) 0 (Chase)

Oldest account 1.1 yr

Average age of accounts 7 months

Util less than 1%

FICO8 EX 720 TU 729

[Anonymous]

You can call 800-432-3117 and find out what's going on without disturbing the hornet's nest. 2 weeks is a good sign, while 7-10 days means rejection of verification (since you aren't an existing customer), most of the time.

[Anonymous]

just called

it is still 30 days

what kind of sign is this?

[CreditCuriosity]

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@Anonymous wrote:

just called

it is still 30 days

what kind of sign is this?

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Good sign overall just let it be... Usually 30 days and two weeks are good not so much for 7-10 days

[Anonymous]

They may not have reviewed it yet. At the very least it means it wasn't an automatic rejection. Fingers crossed for you!

[FinStar]

OP, as @CreditCuriosity mentioned above, most of the "newer" or enhanced Chase products appear to have a little more scrutiny when it comes to underwriting.

If there was no judgemental override available, then that is the reason the UW mentioned that reallocating CLs was not an option. I'd let sleeping dogs lie on this one. Chances are they have already made notes when you called.

That being said, this product isn't going anywhere, and as things improve with your profile so will your chances with getting approved.

[Anonymous]

Got 7-10 message. Guess there is not miracle at this point of time)

[Anonymous]

Interesting. Got approved last week here are my DP.
715 score; 12 inquiries in the last 12 months; 3 new accounts as of May and June; utilization 1%, have some cards with chase.. however, I did decrease limits on my almost all my cards recently.