Fresh out of the garden with a denial

[Anonymous]

Entered the garden in January after getting my Amex BCE card and just finished my gardening goal to let some of my apps come off my credit report. Coincidentally i got a pre-qual mailer for a CSP card. I apped online and i got the "application under review" message. Called recon and got denied. YAY

[Anonymous]

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@Anonymous wrote:

Entered the garden in January after getting my Amex BCE card and just finished my gardening goal to let some of my apps come off my credit report. Coincidentally i got a pre-qual mailer for a CSP card. I apped online and i got the "application under review" message. Called recon and got denied. YAY

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Sorry to hear.  What was the reason given?  Your scores seem well within the range needed for approval so there must be something else that they are basing the denial on.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Entered the garden in January after getting my Amex BCE card and just finished my gardening goal to let some of my apps come off my credit report. Coincidentally i got a pre-qual mailer for a CSP card. I apped online and i got the "application under review" message. Called recon and got denied. YAY

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Sorry to hear.  What was the reason given?  Your scores seem well within the range needed for approval so there must be something else that they are basing the denial on.

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the recon guy said that my annual salary is too low because the card has a minimum CL of $5,000. I told him that i have a discover card with a 5k limit and an amex card with a 12k limit, then proceeded to ask him what the minimum annual salary for the CSP is and he told me there is no minimum but i dont make enough. lol it literally doesnt make sense...to say that im disappointed with Chase is an understatement.

Edit: I've never had any baddies on my credit report either, so its not even like they could have held anything against me

[takeshi74]

There are certainly requirements but most creditors won't disclose such details.  You can't be disappointed with Chase if you don't qualify.  It's your credit and income that do not meet their criteria.  Don't just assume the gardening and/or a prequal means that you will be approved.  And, as always, it's never just about score.

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@Anonymous wrote:

the recon guy said that my annual salary is too low because the card has a minimum CL of $5,000. I told him that i have a discover card with a 5k limit and an amex card with a 12k limit

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Unfortunately, that really doesnt mean much.  You can't just assume that getting a CL of X with another creditor is relevant to a given creditor.  Creditors have differing criteria and your credit isn't the same as when you qualified for the limits on the other cards.  It's also not just a matter of just one factor.  Your income probably needs to be at a certain point for your credit profile.  Your entire credit profile always matters and they have concerns with your profile even if it has no derogs.  From your signature it looks like your cards are all relatively new.  Without more info on your profile we're just speculating though.  Carefully review your reports.

[Anonymous]

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@takeshi74 wrote:

There are certainly requirements but most creditors won't disclose such details.  You can't be disappointed with Chase if you don't qualify.  It's your credit and income that do not meet their criteria.  Don't just assume the gardening and/or a prequal means that you will be approved.  And, as always, it's never just about score.

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@Anonymous wrote:

the recon guy said that my annual salary is too low because the card has a minimum CL of $5,000. I told him that i have a discover card with a 5k limit and an amex card with a 12k limit

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Unfortunately, that really doesnt mean much.  You can't just assume that getting a CL of X with another creditor is relevant to a given creditor.  Creditors have differing criteria and your credit isn't the same as when you qualified for the limits on the other cards.  It's also not just a matter of just one factor.  Your income probably needs to be at a certain point for your credit profile.  Your entire credit profile always matters and they have concerns with your profile even if it has no derogs.  From your signature it looks like your cards are all relatively new.  Without more info on your profile we're just speculating though.  Carefully review your reports.

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but what is the criteria? thats what is annoying me, they say i dont make enough but then tell me there is no minimum income requirement

[tntexans72]

If approved for the csp, were you able to put 4K on the card within 3 months? Also, are you swiping that Freedom? Put some usage into that Freedom and work on getting a cli for that card and try csp again in 6-12 months. 

[RobertEG]

Are you currently opted-in?

If not, you may wish to do so and then sit back for a few months and see what happens.

If you get offers that result from the creditor subntting criteria to a CRA and obtaining your name from a listing provided by the CRA of consumers who meet the creditor's stated criteria, it becomes a "firm offer for credit" under the FCRA that must be honored if you apply and their review of your full credit report shows that you continue to meet the stated criteria used to get your name and send the offer.

A good way to let creditors tell YOU without any apps for credit if/when you likely qualify........

[elim]

were you pre-approved on the pre-qual site?

that card has a fixed APR so the mailer may have been an invitation to apply.

edit: also, never call for manual review   :[

[UncleB]

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@Anonymous wrote:

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@takeshi74 wrote:

There are certainly requirements but most creditors won't disclose such details.  You can't be disappointed with Chase if you don't qualify.  It's your credit and income that do not meet their criteria.  Don't just assume the gardening and/or a prequal means that you will be approved.  And, as always, it's never just about score.

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@Anonymous wrote:

the recon guy said that my annual salary is too low because the card has a minimum CL of $5,000. I told him that i have a discover card with a 5k limit and an amex card with a 12k limit

---

Unfortunately, that really doesnt mean much.  You can't just assume that getting a CL of X with another creditor is relevant to a given creditor.  Creditors have differing criteria and your credit isn't the same as when you qualified for the limits on the other cards.  It's also not just a matter of just one factor.  Your income probably needs to be at a certain point for your credit profile.  Your entire credit profile always matters and they have concerns with your profile even if it has no derogs.  From your signature it looks like your cards are all relatively new.  Without more info on your profile we're just speculating though.  Carefully review your reports.

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but what is the criteria? thats what is annoying me, they say i dont make enough but then tell me there is no minimum income requirement

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I agree, OP... I would find that explanation annoying as well.  It actually sounds to me that the issue isn't your income alone, per se, but perhaps your income relative to existing debt or possibly even available credit.  Actually, being of modest means myself (not saying you are...) I frequently think about this - it's the reason I don't seek out CLIs on cards I hardly ever use.  In my case, I don't want to be denied in the future for something I really want because I'm said to have too much credit already available on cards that aren't that great.

Finally, since being disappointed is completely subjective, you certainly have the right to feel that way.  In your shoes, I would be disappointed as well. 

[tr24]

What is your annual salary? Might help others who might be close to the same amount.