"Thin file" bc my only CC doesn't report to agencies. How to move forward?

[Anonymous]

I've had my JP Morgan Select for five years (now in my mid-twenties). I was fortunate to get the card from my family's relationship with JPM but am the only listed user/have done all the work of using it properly & paying it off in full every month myself. The purpose of the card was to build credit--so imagine my surprise when only a few months ago, I discover JP Morgan cards don't report to the credit agencies. All that work down the drain.

I need to start again and "build credit", but starting with a secured cc seems like such a waste when I have a $10k limit on my Select. The Chase Freedom seems ideal as a mid-point, but I've heard various stories from "it was my first credit card and I got approved" to "they won't take you with fewer than two years of credit history." And if it turns out Chase can look at my JPM credit card history because the two banks are merged, they'd be more likely to approve me.

Does anyone who has had a relationship with Chase know if, because the banks are linked, Chase will see my great credit history with the Select during the approval process?

Can I bring up my past (unreported) history when calling the reconsideration line?

Any help appreciated. This forum was where I learned the JPM doesn't report and got me on this track. If not for you all, I'd be years further behind in the process, so thanks.

[jeffm4688]

I read this as "Will I get approved for a chase freedom" - and based on that question I don't know im not sure, would be nice to know if you have anything else on your credit file as well? Like auto loans, student loans, etc

I don't know if the JPM card would make a difference between getting approved or not, but I do know chase has an internal scoring algorithm, so having other chase products does help & I do know some people who have managed to get small freedom limits with zero credit history before as they bank with chase. I personally have banked with chase for 5 years and opened my business account there as well 2 years ago. In June I managed to finally get approved for a CC with baddies & an auto loan at 2.86% interest at 72 months with zero down only having a credit score of ~620, I'm sure my banking relationship and has something to do with it.

[Anonymous]

Welcome to MyFico.  Chase does take relationship into consideration.  Do you have any credit score at all? So don't rule secure cards out completely.

EDITED: As OP clarified.

OPTION 2.

If your parents or someone can add you to their other credit cards, you should be fine able to generate a score in 6 months and get regular credit cards as opposed to the secure ones.

[Creditaddict]

Did you apply for the freedom yet?

I would apply and if not approved then we can deal with it but I bet you are approved.

[Anonymous]

Thanks for your contribution. To clarify, you are mistaken when you say I am an authorized user. The card is entirely my own, and although I was able to get a JPMorgan card as a result of family accounts, mine is the only name on this credit card account. I hope that is helpful to you.

[Creditaddict]

Apply for several new accounts.

Chase Freedom

Discover

Capital One (check pre-qualified offers)

American Express Blue or Delta or Everyday

Then you will have enough cards to build a thicker stronger profile.

[Anonymous]

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@Anonymous wrote:

Thanks for your contribution. To clarify, you are mistaken when you say I am an authorized user. The card is entirely my own, and although I was able to get a JPMorgan card as a result of family accounts, mine is the only name on this credit card account. I hope that is helpful to you.

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Thanks for the clarification as it will help answer the question you asked.  You should be fine getting the Chase Freedom as Chase goes by their internal score mainly.  You having this JPM card will solidify your chances of getting it.

What I'd do if I were in your shoes is not do it online.  Go into a branch near you or whomever you deal with at Chase and they will be able to get it open for you.  Another plus of doing it in the branch is the banker is able to talk on your behalf directly to the lending department.

Keep us posted on results.

[Anonymous]

Go into your local branch and meet with a banker and explain your situation. Or if your family has a contact, give that person a call. 

[Callandra]

Have you tried Chase's online prequal?

I think having that card will help; I'm not sure of the requirements, but people say that having $10k+ in an account with them often helps sway them. I would try going into a branch and applying with a banker. Good luck! 

[Anonymous]

Hi all,

Figured you were owed an update on my interesting/perplexing situation. After my initial post, I'm ashamed to admit I jumped the gun and applied online--assuming that, as one poster had speculated, because I was applying for a Chase card, they would interally be able to see all my credit card history at JP Morgan. That was not the case. I received my rejection letter yesterday and emailed the person who had suggested I go ahead and apply. She replied this morning that she's putting a note in my application file with them and asking it to be looked over once more, so for now I should disregard being turned down.

I hope to update next week with happier news. I'm narrating my steps here in the hopes that (in the unlikely event that some other person experiences this) they have some guideline of how to move forward. I was told by my contact at JPM that I should have filled out a pdf of the application and emailed it to her, so she could put it in the system and note my prior history with them.

Thanks again to all of you for your perspective on this issue--it really got me up at arms and ready to move forward. Talk soon!