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I recently posted about how I was approved for 2 Amex cards just about 2 months ago because Chase wouldnt approve me after a $5,000 charge-off. I truly loved the Sapphire and have been wanting to get it back for years. The Amex Gold has been good to me but charge cards do little to benefit your credit profile but can help you learn how to pay off every month if you are weary about carrying a balance like I am. Plus correct me if I'm wrong but I believe you can close them with no damage to your credit score because they don't report a line of credit or balance.
Anyway, I was denied back in May and have since continued building up my credit. After hitting a 702 (Experian), 699 (Equifax) and 703 (Transunion) and getting approved for a new auto loan with my bank after not being able to get an approval for a while, I took another chance on Chase.
Thank the heavens I did, I was just approved for $6,000 today and will get the 60,000 point sign on bonus again even though I had a previous account! They only pulled my Experian score from what I can see.
This post is just to let everyone know as long as you rebuild and focus on bettering your overall credit profile you will be able to make your way back and the approvals will start rolling in! I am just going to manage my existing cards from here on out. Now that I hold the sapphire again, I am out of the CC game for quite a while.
Congrats on returning to Chase!!!
Congrats on the approval! I'm pretty surprised, I get the impression on here that Chase has a particularly long memory when it comes to charge-offs...
@difringe wrote:Congrats on the approval! I'm pretty surprised, I get the impression on here that Chase has a particularly long memory when it comes to charge-offs...
They do, especially if you haven't paid them back. There are plenty of threads here about how Chase won't issue a second card and will constantly remind you about the previous relationship even after 10-20 years. People have to recon everything, including CLIs. That being said, the OP got a nice SL from them so they may have dodged the bullet or slipped through the cracks, if they didn't pay them back.
Congrats. I can't wait until I'm back in with Chase.
Welcome To myFICO Forums and Congratulations!
Congrats on getting back in the door with Chase!
Like others mentioned, I believe you "slipped through the cracks." Chase will do a monthly SP and I think its important you dont apply for any credit for at least 6 months and keep your utilization low.
Congrats on your CSP approval!