Denied for Chase Sapphire Preferred

[Mastermind_5D]

Hello, I was denied for Chase Sapphire Preferred. The reason was - 'Too few accounts on file for a sufficient length of time.' I have 3 credit cards, average credit age 3yrs 5mos, highest limit -$5,000. Any feedback?

[GZG]

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@Mastermind_5D wrote:

Hello, I was denied for Chase Sapphire Preferred. The reason was - 'Too few accounts on file for a sufficient length of time.' I have 3 credit cards, average credit age 3yrs 5mos, highest limit -$5,000. Any feedback?

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tomorrow call in and ask for your application to be reconsidered

3 cards is a bit thin and highest limit only being $5k is a bit low, but you're on the bubble 

if they don't give in, consider opening a chase checking and then repeating the process above 

[CreditCuriosity]

Yes worth a call to reconsideration line and ask them to reconsider you might just get approved.  Best of luck

[Mastermind_5D]

I already have a chase checking, opened almost 2 months ago. I will call in tommorow, thanks.

[AndySoCal]

@Mastermind_5D  Where checking account helps is if it is being actively used. A bank may or may not look at the checking account. Some banks do it shows how a consumer manages their money and may be an indicator of how a consumer manages their credit. Otherwise since have an account branch banker maybe able to you with your credit application.

[Mastermind_5D]

*Update* - I called the reconsideration line for my Chase Sapphire Preferred application & told them the reason that I was denied (Too few accounts on file for a sufficient length of time). They told me for this reason I would need to go inside a branch. So I went to a branch, a rep verified my identity & submitted a reconsideration on my behalf. I was told to call back in two business days. So I called back today, I had to reverify myself, & then I was APPROVED- $16K LIMIT!! Thank you very much for the suggestion!! I would not have done it on my own!!

[CreditCuriosity]

Congrats!  Glad it worked out for you!

[GZG]

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@Mastermind_5D wrote:

*Update* - I called the reconsideration line for my Chase Sapphire Preferred application & told them the reason that I was denied (Too few accounts on file for a sufficient length of time). They told me for this reason I would need to go inside a branch. So I went to a branch, a rep verified my identity & submitted a reconsideration on my behalf. I was told to call back in two business days. So I called back today, I had to reverify myself, & then I was APPROVED- $16K LIMIT!! Thank you very much for the suggestion!! I would not have done it on my own!!

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a very healthy limit, congrats!!

[SPChaser]

Congrats! Really happy things worked out with a more than descent limit to boot!