Under 5/24, but I still have my doubts about being accepted by Chase.

[citymunky]

So as of last month I was under 5/24 (currently at 4/24 until Dec24, where I drop to 2/24). Now that I'm in a way better place that I was in 2021, I would like to get in with Chase finally. In efforts to build a relationship with Chase, I'm was added as AU on a relatives account and did sign up for Chase's Credit Journey. Lately I'm been trying open an a checking and saving account to get their new account SUBs, however for what ever reason I been denied twice from opening the accounts. I was planning to go a branch in person to see I can more details (I think they don't like the settled CO on my report with the amount of 'lates' associated with that account). 

With that being known, what do guys think? I was have more of a warm and fuzzy feeling if Chase PreApproval tool was working, but its been down for months or if there was active elevated offer like for the one for CSP (80K URs points) last year. I did check to see if I was preapproved with the AMZ Prime card, and I was but I would rather save that app for Dec24. 

Here is another wrench to throw in. I'm will be moving across the country soon, and I was looking at taking out a HELOC to make needed repairs to home so I can potentially rent the house, or sell. I have read on here that Chase would consider a HELOC a new account under their 5/24 rule since it revolving debt. Also I'm in the process of asking for EEs with this CO account under the NY 5 year purge law (DOFD Arp 2019), EE request has been submitted with TU, and I have to wait under next month to submit the EE request with EX. 

If I do pull the trigger it will be sometime next month and I'm between the CFU (I could still find CB match for the 1st year) or the Ink unlimited as a Sole Prop. 

[CorpCrMgr1]

Definitely go into a branch to open your account to see what happens.

[citymunky]

So after thinking about it I applied for the CFF eailier this week over the CFU or an INK card. I unfroze my EX and pulled the tigger, but I was met with is message.

 

Now my main question for the board, do you think it is wiser unluck my EQ and just call a CSR to contiune the app or drive 30 mins ago to go a branch finish the app in person (I already have the appt set)?

[pizzadude]

I'd probably just go into the branch ( in addition to removing your CR freeze ) to make sure they have all of the information needed to process your application. 

[citymunky]

The local branch called to confirm appoint, by mention that if I had a pending application, that I would need to call in the CSR to finish the app for the CFF over the phone.

I unfroze my EQ and upon calling the CSR, my app was declined for the following reasons:

1) Too many accounts: My EQ shows that I have  a total of 22 accounts (13 Open, 9 Closed with 14: Revolving Accounts)

2) Total available credit too high: I don't what that means when compared to most people here. I have under $50K TCL without AUs. 

3) Credit Age: AAoA 3 year, 7 months // AoOA 13 years, 10 months // AoYA 6 months// AoOAUA 17 years 9 months

4) Previous poor credit history: My USAA CO is approaching 5year since DOFD, and two 30 days lates  from Feb 2020 and 2019. 

Other DPs:

Current INQs: 3 all spaced at least 6 months apart

Total Credit UTI: 2%

EQ scores: FICO 8: 739 // FICO 8 Bankcard 742 // FICO 9: 756 //FICO 9 Bankcard 750

Income: over $100K

I understand being decline due to the COs, by not the other reasons. Also  no EQ HP so far.

[citymunky]

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@citymunky wrote:

Also  no EQ HP so far.

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I was just notified via Credit Karma that the HP was added from Chase dated yesterday. Weird that it took so long to reflect, normally I'm notified instantly.  

I plan on trying the recon line, however I long should I wait? Until I receive the letter in the mail or does the time-frame doesn't matter? 

[youngandcreditwrthy]

@citymunky   most likely they will want the exact referenced number from your denial letter to even discuss the app with you.

you have 30 days rto recon before you have to apply again to be considered. I'd wait for the letter then call. and be pleasant but firm. make them stay on the phone with you, remain professional and calm, and go line item by line item. ask them if tnhey ahve your CR in front ofthem and let them you know you'd like to review it with them yourself to correct any discrepancies and work on getting this application approved if indeed an approval is warranted. I have had recon conversations specifically with chase where I took control of the conversation and went from denied or approved, but they want you to take control, explain, and afterall... they are CUSTOMER SERVICE.. they have to LISTEN TO YOU. and if they keep repeating the same garbage, you can once again remind them that you are the customer (whether current or not). I always say "I've heard great things about your bank and would like to be able to trust my banking institution " lol I took a 650 fico denial with 10-15 inqs and new accounts (was a rebuild back in early 2010s when credit was still stuck from GFC and woulnd up with  5k freedom approval! I was in college still, so that 0% on 4500 helped me SO MUCH and I paid it off in full. risk was worth it! 

YOU CANNNN DO IT!

[Blender]

Whats your Chex reports like? I was denied the first time for a dirty report switch other banks. 

[NoMoreE46]

Circling back on this thread.  Sorry about the CF denial @citymunky .

 
Hindsight theory,  I think you would have been approved for the Prime Visa.

This card's UW seem less stringent vs Chase core cards.  

[citymunky]

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@NoMoreE46 wrote:

Circling back on this thread.  Sorry about the CF denial @citymunky .

 
Hindsight theory,  I think you would have been approved for the Prime Visa.

This card's UW seem less stringent vs Chase core cards.  

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My too but the Prime Visa doesn't make sense for me rigth now (but I will be app'ing for it during the Hoilday Season).  We can't win them all.