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Chase freedom unlimited denied

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Regular Contributor

Chase freedom unlimited denied

hey guys, i appreciate any and all answers to my “problem” here.

so for starters, im currently 19 with only one credit card the discover IT chrome(since i turned 18 and since graduated from secured and 4xed my limit yay). I’ve gained a lot from discover in my first year(now almost two) with its matchback bonus and managed to pay ZERO dollars in interest or fees, So i went to go take on more credit, well bonuses really and got shut down with an instant denial, felt horrible. dropped my 762 transunion and 758 equifax about 12 points each and now scared to check my experian and fico after it all. I called chase and they said im too “young” but i was getting letters in the mail from them and amex and other big names what have you. i dont know what to do.. if this how harsh credit apps really are(had no idea before) im almost pushed to never turn back.

brief overview of my credit history since 18 its been 17 Months of on time payments ZERO interest, ZERO derogatory, no installment loans currently, and always less then 30% reported every other month it's not a 0 balance reported, 5 hard inquiries 3 of which my mom tried to use when i was under 18, 4. my discover inquiry , and sad to say now 5 my denied jpmorgan inquiry(not sure why my capone unsecured from last year doesn't show an inquiry on either or all three, oh well im not complaining).

THANK YOU for the taking the time to read and help, always much appreciated

thanks for all the help, figured gardening mode is best
Message 1 of 23

Re: Chase freedom unlimited denied at 742 FICO..

Hi @elixerin, welcome to the forums.

Have you received the letter which would confirm the reasons for the denial? It sounds like your credit profile might be a bit thin for Chase. Is the Discover card the only tradeline that you have? Any student loans, etc.?
Message 2 of 23
Regular Contributor

Re: Chase freedom unlimited denied at 742 FICO..

thanks for the quick reply and welcome, havent received the letter in the mail yet if that's what you mean. Never taken on a Loan, i did forget to mention i had a capital one unsecured at $300 last year which was closed because of a returned payment(this was when i had just turned 18 and wasn't quite financially stable, had money in my bank but ended up withdrawing what was left due to an emergency all while being too late to cancel the payment :l), on my report it showed closed by credit grantor (fully paid off with no late payments ofcourse) of which i disputed to have it listed as a close requested by me, that got resolved fortunately in my favor. Think this may be why? capital one and the discover it are the only 2 cards i've ever had/have currently. 

Message 3 of 23
Community Leader
Super Contributor

Re: Chase freedom unlimited denied at 742 FICO..

Chase typically wants 12 months of history, which you have, but it sounds like you need more experience in their eyes. You can try calling again to recon with someone different. Ignore their mailers, a 3rd party sends them out so they can't be relied on. You should be good to go with amex though. Try their prequal.

Message 4 of 23
Regular Contributor

Re: Chase freedom unlimited denied at 742 FICO..

Tried the amex prequal, says no offers currently matched at this time :l

Message 5 of 23
Frequent Contributor

Re: Chase freedom unlimited denied at 742 FICO..

I too had a thin file, its still actually thin according to Transunion, like everyone says here Time is your Friend. Don't be too disappointed and afraid to try again in the future. Grow your current cc profile and if possible get an installment/car loan to create a diversified profile.

Amex Blue Cash $20k
Chase FU $9.2k
BOA Cash Rewards $13k
Comenity BJ's Perks Plus M/C $8k
Cap1 QS $750 (AU), BOA Auto
Nov. 2019 TU 796, EX 769, EQ 785
INQ 1/6, 1/12, 2/24.......TU-0, EX-2 EQ-2
Message 6 of 23
Frequent Contributor

Re: Chase freedom unlimited denied at 742 FICO..

Sounds like you have a thin file, good score just not much for potential creditors to go on. Cap1 has a prequalify tool on their website and if you can get a solid apr that’s a really good sign for approval. Citibank has one as well since you already have a great card I’d stay away from ones like Credit one and the likes. When it comes to credit, slow and steady definitely wins the race so if nothing else slow down on the apps because the inq’s add up quickly and then it’s tougher to get approved because your seen as aggressively seeking credit and no bank likes that. If you can qualify for navy federal (military or affiliated) they may be a good option as they seem to spread some love pretty easily. If all else fails the just take the time to figure out what you want from a credit card and check all the pre qualify tools periodically. Soft pulls won’t hurt your score whereas hard pulls will temporarily.

Starting Score: Jan 2011-600TU 598 EQ
Current Score: 795TU 800EQ 772EX
Goal Score: 800 and higher across the board

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EQ-16 (11 auto finance inq's)
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Message 7 of 23
Regular Contributor

Re: Chase freedom unlimited denied at 742 FICO..

thanks for the replies guys, so to be crystal i should be diversifying to installment loans before coming back and seeking more revolving credit?

Message 8 of 23

Re: Chase freedom unlimited denied at 742 FICO..

Start A (Self Lender) loan it will help you alot
and you will not recieve a Inquiry for the Account approval. do a 12 month self lender loan.

Message 9 of 23
Community Leader
Senior Contributor

Re: Chase freedom unlimited denied at 742 FICO..

As you can see credit scores are not the only factor that goes into credit approvals.


Chase wants to see more history, keep using and paying your discover card and maybe try again in 6 months.

EXP 763 TU 793 EQ 734
Message 10 of 23
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