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Denied by Chase - What next?

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New Contributor

Denied by Chase - What next?

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).



Starting Score: 510
Current Score:746
Goal Score: 800


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Message 1 of 23
22 REPLIES 22
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Regular Contributor

Re: Denied by Chase - What next?

I wish I had solid sound advice for you, but Chase Bank has never made sense to me. They turned me down over an apartment collection 5 years ago at a 701 FICO and I never went back to them after that.
Current Score (01/13/2020): EXP: 680; TU: 684; EQ: 665
Gardening as of 01/13/2020

Community America CU Cash Rewards - $10000 | Discover It Cash Back - $4000
Nordstrom Credit Card - $4000 | BMO Harris Cash Back MasterCard - $4000
Discover It Cash Back - $2000 | US Bank Cash+ Visa Signature - $2000
Target Red - $1100 | Chase Starbucks Visa - $1000
Capital One Quicksilver - $700

Total Credit: $28800
Message 2 of 23
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Moderator

Re: Denied by Chase - What next?


@Justasheep 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

I told my teens yesterday I'm done repeating myself. Darwin, take the wheel, please.
Message 3 of 23
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New Contributor

Re: Denied by Chase - What next?

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 



Starting Score: 510
Current Score:746
Goal Score: 800


Take the myFICO Fitness Challenge
Message 4 of 23
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Established Contributor

Re: Denied by Chase - What next?

OP,

Try getting secured cards from big banks.


Message 5 of 23
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Regular Contributor

Re: Denied by Chase - What next?

I would recommend the U.S. Bank Cash+ Visa Signature Card.
Current Score (01/13/2020): EXP: 680; TU: 684; EQ: 665
Gardening as of 01/13/2020

Community America CU Cash Rewards - $10000 | Discover It Cash Back - $4000
Nordstrom Credit Card - $4000 | BMO Harris Cash Back MasterCard - $4000
Discover It Cash Back - $2000 | US Bank Cash+ Visa Signature - $2000
Target Red - $1100 | Chase Starbucks Visa - $1000
Capital One Quicksilver - $700

Total Credit: $28800
Message 6 of 23
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Community Leader
Senior Contributor

Re: Denied by Chase - What next?

Check Amex for prequals, and any that are a green light, read through their categories and see how they line up. If they’re a fit for your spending and are preapproved, go for it.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





TCL $64,850 | Agg. Util under 5%
Message 7 of 23
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Community Leader
Mega Contributor

Re: Denied by Chase - What next?

Im not sure what part of the forum you have been reading but the standard advice given in regards to Chase is they like more than 1 year credit history and aren't to kind to thin files. Seems you were given the wrong impression somewhere. Just continue to build up your credit history through good payment history snd perhaps add a third card before Chase as they usually dont like to be your first in anything.
Message 8 of 23
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New Contributor

Re: Denied by Chase - What next?

Looks like no prequal offers from Amex, should I just garden a while?



Starting Score: 510
Current Score:746
Goal Score: 800


Take the myFICO Fitness Challenge
Message 9 of 23
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Senior Contributor

Re: Denied by Chase - What next?


@Justasheep 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.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (5.1.20) EX: 832 / EQ: 846 / TU: 834
Message 10 of 23
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