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Just denied by Chase (for Freedom Card), called in and was told insufficient credit history & too thin of a file, called recon and was told too many inquiries (I suppose from when I went car shopping recently (I thought they were only supposed to count as one but that doesn't seem to be the case) and insufficient credit history, pushed to a supervisor and explained my car shopping ways and they said it's not just that it's also the credit age (1 year yesterday) and too thin of a file (2 cards 1 self lender loan). Anyway just going off of advice I found here and there and kind of surprised I got denied, any advice for next steps? Also what can I do about the inquiries, do they all still show but they're only counted as one by lenders? I was most surprised at the inquiry comment since they're very low relatively (discover app shows 1 inquiry, credit karma shows 6).
@Anonymous wrote:Just denied by Chase, called in and was told insufficient credit history & too thin of a file, called recon and was told too many inquiries (I suppose from when I went car shopping recently (I thought they were only supposed to count as one but that doesn't seem to be the case) and insufficient credit history, pushed to a supervisor and explained my car shopping ways and they said it's not just that it's also the credit age (1 year yesterday) and too thin of a file (2 cards 1 self lender loan). Anyway just going off of advice I found here and there and kind of surprised I got denied, any advice for next steps? Also what can I do about the inquiries, do they all still show but they're only counted as one by lenders? I was most surprised at the inquiry comment since they're very low relatively (discover app shows 1 inquiry, credit karma shows 6).
Dont look at what Discover shows in terms of inq, it's wonky and incorrect
Auto inquiries are binned for scoring purposes, but when credit is pulled, they are counted individually.
I dont think Chase cares too much about your car HPs. You have a very young and very thin file. In your case, it's just too early for Chase.
Even if you were successful at recon, you'd be looking at terrible approval terms and SL.
You would probably be better off grabbing another card from a different lender (as long as it fits your spending habits) then try again with Chase in 6-12 months, providing you stay under 5/24
Can you recommend another card I might qualify for (I don't want to add too many more inquires, I had no idea or I wouldn't have been so liberal), preferably one with a decent sign up bonus and travel rewards
Looks like no prequal offers from Amex, should I just garden a while?
@Anonymous wrote:Can you recommend another card I might qualify for (I don't want to add too many more inquires, I had no idea or I wouldn't have been so liberal), preferably one with a decent sign up bonus and travel rewards
I would hold off and let your current card age till at least one year. Once you reach the one year mark and you keep your utilization low you will be pretty much golden.