Letter from Chase UPDATE: recon in progress

Anonymous · ‎06-12-2015

Well I had applied for the freedom on the 3rd, got a 7-10 day notice. Then got an email saying you'll hear from us within thirty days. Got the letter today basically saying that I'm blacklisted with them. This from an old WAMU collection in 2007, that Chase took over a few years later I think. I thought I might be. Every time I tried the pre-qual, it said no offers, but REALLY fast. Like it didn't even try to find anything. Oh well, any insight or advice on this?

FinStar · ‎06-12-2015

As long as you remain on their blacklist, they likely may not budge for sometime (regardless the age of the account). How much did you burn them for and do you still have a balance owed?

Possible suggestion is to contact them to see if they can reconsider but there is no guarantee they will overturn the decision (hit or miss on previously reported results and would likely favor stronger profiles to "open the door").

Anonymous · ‎06-12-2015

Well if I remember correctly, it was for $892. And no I never paid a dime on it. It fell off my TU report early last year

FinStar · ‎06-12-2015

@Anonymous wrote:
Well if I remember correctly, it was for $892. And no I never paid a dime on it. It fell off my TU report early last year

Well, it's still a loss in their eyes (even if the portfolio was acquired from WaMu). Now, some individuals have been able to re-establish a relationship with Chase despite of a damaged past but it depends on a lot of factors. You can definitely try and see whether they can reconsider if your profile supports it.

Anonymous · ‎06-12-2015

Well, judging by how they're handling new accounts, and the fact that I really only have 8 months of history since I started my rebuild, I'd say that the odds are not in my favor. But then again, what's the worst they can say no?

revjamesl · ‎06-12-2015

Good luck!

Anonymous · ‎06-13-2015

Sorry to hear that

Anonymous · ‎06-13-2015

Amex and Chase tend to blacklist people who burn them. Even if the CO is paid off, you often remain on the blacklist for years, possibly decades. If the CO is not paid off, you will likely have to wait even longer. The creditor who is burned does not care if the CO falls off the credit report. With small amounts they often never try to collect it and after years statute of limitations will often bar collection. However, once burned some issuers hold more of a grudge than others. From anecdotal data on these forums, Amex and Chase seem to hold longterm grudges.

Try recon. If it fails, try again in some years. Paying the CO off might help, but that might not be worth it for you since it takes time for any card to give you nearly 900 dollars of value. Plus even if you pay you could remain on the blacklist for a while.

Anonymous · ‎06-13-2015

@Anonymous wrote:
Well if I remember correctly, it was for $892. And no I never paid a dime on it. It fell off my TU report early last year

Sorry to here... If you really want to get in with them, pay the amount off and reach out to their EO. I am sure once they get their money, they will be willing to do business with you again...

Anonymous · ‎06-13-2015

Best thing you can do is pay them and hope they will forgive you after.