Chase?

[Anonymous]

I was just approved for a auto loan with Chase yesterday, $39,000, 3.99 rate. My credit is fair mid 600's across the board, 6% ut., 100% on time payments, 2 year AAoA, 1 med collection less than a year old. I was declined for a Chase Freedom card about 2 months ago. But Chase will give me 40 grand for a new Volvo... Go figure. My question is, should call Chase and ask for a recon on the credit card? Since they just HPed me for the car? And I've already took the score hit for the car loan pulls...Any info would be great! Thanks

[Anonymous]

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@Anonymous wrote:

I was just approved for a auto loan with Chase yesterday, $39,000, 3.99 rate. My credit is fair mid 600's across the board, 6% ut., 100% on time payments, 2 year AAoA, 1 med collection less than a year old. I was declined for a Chase Freedom card about 2 months ago. But Chase will give me 40 grand for a new Volvo... Go figure. My question is, should call Chase and ask for a recon on the credit card? Since they just HPed me for the car? And I've already took the score hit for the car loan pulls...Any info would be great! Thanks

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Congrats on the new car.. Auto loan approvals are different from credit cards because they have different underwriting.  If you were declined for the Freedom 2 months ago, your time to recon has passed.

You only have up to 30 days to recon for a CC.  Now that you have the auto loan, pay on time and build your internal score with Chase so that next time you apply it will be an approval..

[Anonymous]

not to mention the auto loan has collateral... the car. the freedom is them trusting you 100% with their money.

[Anonymous]

Oh, I see. I was hoping I could kill 2 birds with 1 pull. I have to learn to be more patient with my credit building efforts. I promised myself no new cards until next summer, but was trying to justify another pass at Chase, because of the car loan.

[Anonymous]

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@Anonymous wrote:

Oh, I see. I was hoping I could kill 2 birds with 1 pull. I have to learn to be more patient with my credit building efforts. I promised myself no new cards until next summer, but was trying to justify another pass at Chase, because of the car loan.

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If you promised yourself to wait then wait. Chase will not use a pull for a car to approve a new card nor recon.  Patience is best when it comes to credit.  So hang in there..

[Anonymous]

The waiting is the hardest part!!! I am so glad I found this forum. The info I get  is awesome. And it helps me stay strong! Thank you

[Anonymous]

Congrats on the car loan, and welcome to the forums!