Chase re-apply?

[Anonymous]

Hello,

This is my first post here and need some advice:

BK13  DOF 7/09 DC 10/14

Current CC – Venture 20k, BBT – 7k (all applied 5/16)

Current CK 746

On the advice of my mortgage broker, I applied for some trade lines prior to actual mortgage application.  Prior to all this I paid everything by debit card.

So I applied for BBT Rewards on 5/23/16, approved 7k; Cap 1 Venture on 5/27/16 20k SL. 

Next was UA Mileage Explorer, applied 5/29/16, denied due to BK.

EQ score given by Chase was 650, while Cap1 EQ score was 737 on both letters.  I understand different FICO score models were used but that much of difference in number?

I realized that back in May, the BK was not really dropped off my CR so Chase was able to see it (<7 years).

Their letter stated “If corrections are made to your credit report, we will be happy to evaluate another credit application for you in the future.”

I would like to apply for Chase CSR or CSP/FU cards after my home loan goes thru around Dec 16 (by then the BK is >7 years).

Do you think it is viable or get rejected again?  (I have suffcient income and several Chase mortgages paid and closed)  

Thanks for reading.

[daybreakgonesXe]

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@Anonymous wrote:

Hello,

This is my first post here and need some advice:

BK13  DOF 7/09 DC 10/14

Current CC – Venture 20k, BBT – 7k (all applied 5/16)

Current CK 746

On the advice of my mortgage broker, I applied for some trade lines prior to actual mortgage application.  Prior to all this I paid everything by debit card.

So I applied for BBT Rewards on 5/23/16, approved 7k; Cap 1 Venture on 5/27/16 20k SL. 

Next was UA Mileage Explorer, applied 5/29/16, denied due to BK.

EQ score given by Chase was 650, while Cap1 EQ score was 737 on both letters.  I understand different FICO score models were used but that much of difference in number?

I realized that back in May, the BK was not really dropped off my CR so Chase was able to see it (<7 years).

Their letter stated “If corrections are made to your credit report, we will be happy to evaluate another credit application for you in the future.”

I would like to apply for Chase CSR or CSP/FU cards after my home loan goes thru around Dec 16 (by then the BK is >7 years).

Do you think it is viable or get rejected again?  (I have suffcient income and several Chase mortgages paid and closed)  

Thanks for reading.

---

Since the BK seems to have been the make-or-break, you likely would have a good shot of applying again when BK is greater than 7 years. Chase uses their own internal scoring system, hence why their's and Cap One's scores are different.

Best advice: don't apply for anything else before you apply for Chase in December, and make sure your scores are optimized to the fullest. You can do this by have one card report 9% utilization or less, and the rest have $0 balances.

Cheers and good luck!

[Anonymous]

We will have a mortgage application and plan to close around 10/15.  

No plan for CC application until this goes thru, thus the Dec time frame.

Is it best to obtain a paid FICO score prior to applying in Dec?

Thanks.

[daybreakgonesXe]

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@Anonymous wrote:

We will have a mortgage application and plan to close around 10/15.  

No plan for CC application until this goes thru, thus the Dec time frame.

Is it best to obtain a paid FICO score prior to applying in Dec?

Thanks.

---

Shouldn't be the end of the world if you're applying for the mortgage, then, as long as it's not CC apps.

And no need to pay for a FICO score, since Chase doesn't use them anyways. Better to just keep an eye on your reports instead. You can do this for free with updates every 7 days through Credit Karma for EQ and TU, and for EX you can just ask for a free credit report at annualcreditreport.com, hold onto the report number, and access it whenever you like. When your reports indicate that all your CC accounts have $0 balance and one card is reporting <10% utilization, you'll be golden that should be when you pull the trigger.

Good luck!

[Anonymous]

Hello again,

We close our condo on 10/31 and applied for CSR the next day. Instant approval! Card will be delivered today.

I was apprehensive about Chase but I guess they do not blacklist. (Chase IIB).

Plan to obtain CSP around the first of the year and stay with UR program.

Thank you for your words of wisdom.

EX FICO 762 at time of application

[Anonymous]

Congratulations!

Happy for you!