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Denied by Chase - What next?

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New Contributor

Re: Denied by Chase - What next?


@sjt wrote:

 
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.

That's where I'm at right now, 2 secured cards open both for 1 year, utilization low to none.. scores have skyrocketed but that doesn't seem to be helping much in the way of approvals.



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


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Message 11 of 22
Valued Contributor

Re: Denied by Chase - What next?


@Justasheep wrote:

@sjt wrote:

 
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.

That's where I'm at right now, 2 secured cards open both for 1 year, utilization low to none.. scores have skyrocketed but that doesn't seem to be helping much in the way of approvals.



The two cards you currently have are secured cards?





Message 12 of 22
New Contributor

Re: Denied by Chase - What next?


@MaizeandBlue wrote:

The two cards you currently have are secured cards?


Yeah the ones in my sig, discover it & cap1 platinum 



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


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Message 13 of 22
Community Leader
Senior Contributor

Re: Denied by Chase - What next?

averagejoescredit wrote:
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.

+100
I was getting ready to type the same thing.

OP, IMHO, you should not apply for anything else for at least 12 months. Let your accounts age.

GL2U
GOALS: Garden til APR 2020 and 800 Club

GIRL WILLPOWER ("No Thanks" to Apple $7.5K, 12.99% Approval)


JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 14 of 22
Valued Contributor

Re: Denied by Chase - What next?


@Justasheep wrote:

@MaizeandBlue wrote:

The two cards you currently have are secured cards?


Yeah the ones in my sig, discover it & cap1 platinum 


Have you requested for an unsecured conversion on your Discover card?

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (5.16.19) EX: 792 / EQ: 822 / TU: 800
Message 15 of 22
Valued Contributor

Re: Denied by Chase - What next?


@CreditInspired wrote:

@AverageJoesCredit wrote:
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.

+100

I was getting ready to type the same thing. 

 

OP, IMHO, you should not apply for anthing else for at least 12 months. Let your account age.

 

GL2U


OP mentioned that both his Discover and C1 card is over a year.

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (5.16.19) EX: 792 / EQ: 822 / TU: 800
Message 16 of 22
New Contributor

Re: Denied by Chase - What next?


@sjt wrote:


Have you requested for an unsecured conversion on your Discover card?


I have not, they've returned my security deposit a while back and been giving me solid cli's (now up to $2500) so idk if that means it's an "unsecured card" now

 

@sjt wrote:


OP mentioned that both his Discover and C1 card is over a year.


I think they mean to age 2 yrs.



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


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Message 17 of 22
Valued Contributor

Re: Denied by Chase - What next?

Discover did convert your card to unsecured status if they returned your security deposit and gave you several CLIs.

 

I dont think you need to have 2 years, but it does help. 

 

I would hold off for a few months then check the pre-qual sites for offers. You also might want to consider an Amex charge card. Amex has a pre-qual site you can use to see what shows up.

 

 

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (5.16.19) EX: 792 / EQ: 822 / TU: 800
Message 18 of 22
Established Contributor

Re: Denied by Chase - What next?

I feel you got some bad advice somewhere in regards to wether your profile would get approved for Chase.

 

If Amex is not showing you prequalification for anything you need to sit on the sidelines for a while. They are known to offer their co-branded cards to thin files like yours. I would continue to check the preqaul for the major banks. Bank of America and Citibank both have good cards and  prequalification sites.

 

https://www.citicards.com/cards/credit/application/flow.action?isInvitation=

https://secure.bankofamerica.com/secure-offers/public/customizedOffers/

I just returned from financial hell. Don't go, the brochure is a lie.
Message 19 of 22
Established Contributor

Re: Denied by Chase - What next?

Hi OP, sorry about the denials. It can be pretty frustrating in the beginning, and reading through these forums, it’s easy to forget that there are limitations this early in the game. I’ve purposely stayed away from Chase and Barclays because they don’t like thin, young files. And even if you’re lucky to snag one early, it’s very likely a low limit approval. You mentioned car shopping earlier....did you get approved for any auto loans? If so, you might want to space out CC applications unless you get one from the same bank you’re applying with. That’s what I did - went to DCU for an auto loan and they approved me for a $5k credit card with the same pull. Then I gardened for 8-9 months.

If you’re set on getting a new card, check card lenders that have prequalification sites: Amex, Capital One, Citibank, Discover, etc. and don’t apply unless you get a hit on something.


Aug 2019:

Stats:
Message 20 of 22
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