United Card Recon

[Anonymous]

I've been a member on here for a while and I've read the same thing multiple times - Chase likes at least a year of credit history. I have this - a year's worth of 100% on-time payment history on a card with a $19k limit with a utilization of 10% (since Chase doesn't look at AU accounts - per the rep). So, yes, I'm frustrated. Especially when I'm on here reading about people with BK and lower credit scores getting approved for Chase cards with high limits. 

[KLEXH25]

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@Anonymous wrote:

I've been a member on here for a while and I've read the same thing multiple times - Chase likes at least a year of credit history. I have this - a year's worth of 100% on-time payment history on a card with a $19k limit with a utilization of 10% (since Chase doesn't look at AU accounts - per the rep). So, yes, I'm frustrated. Especially when I'm on here reading about people with BK and lower credit scores getting approved for Chase cards with high limits. 

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It can be very frustrating at the beginning of your credit journey, because the only thing on your side is time. You didn't just apply for any Chase card. You applied for the one card with a minimum starting limit of $15,000 and all they have to go by is your one credit card that's only a year old. That's just one data point. You don't have any other credit cards of your own, and I'm guessing you also don't have any loans or mortgages (since you didn't mention any). It's just not enough information for them to make an informed decision about you. Do you have a bank account of your own with Chase or have a joint account with your husband? Usually a banking relationship helps, and you can see if you have any preapprovals before applying for something with Chase.

[Anonymous]

No, the mortgage is in my husband's name because I didn't want want a higher APR due to my CS being 670 at the time. 

As a veteran, I bank through USAA and NFCU.The only thing I have through Chase is a Starbucks debit card that I put $$ for the stars. I've had that since they first came out. Not sure if that counts.

[CreditInspired]

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@Anonymous wrote:

I've been a member on here for a while and I've read the same thing multiple times - Chase likes at least a year of credit history. I have this - a year's worth of 100% on-time payment history on a card with a $19k limit with a utilization of 10% (since Chase doesn't look at AU accounts - per the rep). So, yes, I'm frustrated. Especially when I'm on here reading about people with BK and lower credit scores getting approved for Chase cards with high limits. 

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I've been on myFICO for almost 4 years and havent read this. It's possible I may have missed it. Can you point me to links for members with BKs and/or low scores getting approved for higher limit Chase cards? 

[Anonymous]

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Chase-Recon-Success/td-p/4901401

So, apparently, a BK is fine as long as you have a bunch of cards?

IMO it's just odd that people who are cautious with their credit and don't apply for just any card are considered a higher risk than those with a BK, which could be because of financial irresponsibility. 

I don't understand it, and won't pretend to. I'll just continue to fly United on the regular and pay the $550 yearly fee for club membership.

[Anonymous]

Hey there @Larkspur02, sorry to hear about your experince with chase just remember dont take it personally and if there's a will there's a way. Yes your credit looks good but not quite solid yet. The recommended amout of revolving accounts needed is atleast 3 and a loan of some sort for optimum fico scoring.

So since you need too add 2 more revolving cc I recommend going for an easier to get chase card like freedom or freedom unlimited and building at least 6 month internal credit history with them.

Then you can try for the united card again.

Also I'd recommend getting another navy cc as your other to make total 3.

If possible get a ssl from navy aswell preferably 3k @60months.

Just my 2cents but

Just imagine that your at a bar or restaurant with 5 of your friends. Lets call them: citi, b.o.a, capone, discover and navy. if 2 people that you just met, lets call them tim and jim asked to borrow $5000 from you but you could only help 1 of them. so you ask your friends citi, capone, discover, b.o.a., and even navy tells you great things about tim but navy also mentions jim is great too. 

Now all things considered you may want to help the underdog jim because he has great history with navy and is just starting out so you wanna herd him into your product lines.  but then you think to yourself that your running a business in a horror show of an economy so you decide even though jim is probably going to work out its a safer bet to lend to tim instead. 

The horror I know but Maybe that helps ...

My experience with chase

Dec 2018 freedom denied 

Reconed

still denied same reasons of young thin file.

Aug 2019 app freedom approved 8k

Dec 2019 auto cli 2.5k

Mar 2020 current limit 10.5k

No other relationship with chase

[Anonymous]

Thank you for your understanding and explanation. From what I've been reading and from what I understand, Chase is "upgrading" the Club card to one that has an over $500 AF and making the current card obsolete and no longer available after this month. I don't want the new card since its AF is just shy of what I pay for my membership anyway, so there's no point. I was just hoping to get it before it was no longer available. 

[Anonymous]

@Larkspur02 your welcome,

Sorry didnt know about the united af upgrade that really sucks, but nonetheless I would still recommend building up your credit some more with a few more revolvers that way if and one day you come across another card that you really want or need, whether from chase or any other lender, you will by then have a more solid credit file.

Extra 2cents

From my experience when I started to build my credit from nothing on 05/2018. my biggest enemy for getting declined was age of accounts but I realized if I can show high amount of total on time payments i can show the same 36 on time payments that would take 3 years with 1 account.

so say for example with only 1 card reporting for a year regardless of credit limit equals 12 on time payments in a year.

Compared to a person with 3 cards regardless of limits for 1 year would be 36 total payments. 

Hope that helps and good luck on your credit journey.

[Anonymous]

Regarding Chase and BK....as always, Chase will deny with a BK present on credit reports. A few years ago, Chase would approve BK on CR during a recon if your rebuild was sufficient. That is not longer the case.