Vague email response from Chase Freedom Unlimited application

[Anonymous]

Hi,

I'm new to the forums here.  I just applied for the Chase Freedom Unlimited card because my Experian Creditworks account "claimed" I was a "match".  I applied online and got the "we need a little longer to make a decision" automated response.  Shortly thereafter, I got an email saying my response would come via US Mail (read: Snail mail) and could take up to 30 days.  This is a denial, right?  I mean without actually denying me right away.  My FICO is: 691 Experian as of 10/22, 676 Equifax as of 10/8 and 687 TU as of 10/8.  I only get Experian on daily basis and the other 2 monthly.  I currently have 2 other credit cards, Capital One Platinum MC and Fifth Third Trio.  I was hoping to get a 3rd one but so far BofA has denied me and now it looks like Chase is probably going to deny me.  I have been rebuilding my way back since my Ch 13 discharge in 2016 and had my FICO as high as 820 this past May.  Then we had some family crises that required me to put stuff on credit and it dropped me down over the next several months.  I've read some posts on here where someone with a lower FICO got approved so what's the secret here?  This has been very frustrating.

[coldfusion]

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@Anonymous

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Chase 30 day generally means that you weren't autoapproved but they haven't processed the application manually yet.

Next step is to call the Chase automated status line today at 1-800-432-3117, and call again daily as long as you get a 30 day or 2 week message.   A 2 week message means it was processed with probable approval. 

If the message changes to 7-10 days, it's probably a denial so be prepared to call for a recon when you get the letter. 

[CreditInspired]

Welcome to MyFICO

First thing to do is stop comparing yourself to others. There is more to obtaining credit approval than scores. That’s just one component. The overall credit profile is looked at.

Second:
1. How new are your other 2 cards? AAOA
2. How many inqs in last 3, 6, 12 mos?
3. Any baddies?

Also Chase is usually an auto denial with a BK showing. You could always call them and ask if they need additional info?

[Anonymous]

My BK dropped off in March of this year so I have no public records showing.  My Capital One was opened May of 2016 and Fifth Third opened July 2017.  My utilization is around 80% right now due the issues I alluded to.  Could that alone be their reason?  I thought I was "playing it safe" by only applying for cards that I was considered a match for.  I guess Experian may match based on FICO alone?

[Anonymous]

Experian recommendations, much like Credit Karma and the likes, are tied to CC advertisers and therefore should be taken with a grain of salt. Instead, look to individual CC prequal sites.

[Anonymous]

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@Anonymous wrote:

My BK dropped off in March of this year so I have no public records showing.  My Capital One was opened May of 2016 and Fifth Third opened July 2017.  My utilization is around 80% right now due the issues I alluded to.  Could that alone be their reason?  I thought I was "playing it safe" by only applying for cards that I was considered a match for.  I guess Experian may match based on FICO alone?

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The 30 day message does not mean a denial; it occurs when you are not automatically approved by the computer and your application has to be manually reviewed by one of the underwriters.

Unfortunately the odds do not appear to be in your favor.  80% aggregate utilization would be a significant red flag for any lender; FICO considers 88.9% utilization as "maxed out" and you're perilously close.

Did you include either Chase or BofA in your bankruptcy?

Experian's matches are simply marketing and don't mean anything; they get a fee for directing applicants to lenders so they have every incentive to suggest that you apply for credit.

[CreditInspired]

My BK dropped off in March of this year so I have no public records showing. My Capital One was opened May of 2016 and Fifth Third opened July 2017. My utilization is around 80% right now due the issues I alluded to. Could that alone be their reason? I thought I was "playing it safe" by only applying for cards that I was considered a match for. I guess Experian may match based on FICO alone?
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Okay, good to know BK not showing.

But that 80% UT is not good. Get that down below 30% and try again.

GL2U