CSR With Fraud Alert

[finfree]

I applied online tonight for the CSR card, having waited until I closed on a mortgage. I recently placed a fraud alert on my credit reports after discovering a fraudulent hard pull inquiry by Verizon Wireless. Anyway, I pushed the apply button for the CSR and got the 30 day notification. Having looked at the guide posted here for Chase, I knew to call (these boards are great- would never have known to do that otherwise). As I suspected, the fraud alert was the hangup. They verified my identity (I was put through to two different people as part of the process). Net result: approval with $34k initial credit limit. The representative told me that when the welcome package arrives (I thought they did away with that and it was now just a white envelope) to call that same day and they would increase it. Not sure if I should do that- welcome others’ thoughts about benefits of a higher line. My utilization before this card is about 4% on roughly $60k of bank card credit limits. I live in CA and they pulled EX- I don’t think they pulled TU or EQ. I received an immediate alert from EX. FWIW, before I placed the fraud alert I tried the Chase pre-approval site and was offered nothing.

[JoeLuvsHisCredit]

WOW Congrats

[finfree]

Thanks Joe!

[NRB525]

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@finfree wrote:
 They verified my identity (I was put through to two different people as part of the process). Net result: approval with $34k initial credit limit. The representative told me that when the welcome package arrives (I thought they did away with that and it was now just a white envelope) to call that same day and they would increase it. .

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Congrats on the approval, very nice limit!

I will guess (with no direct knowledge) that the reason they told you to call is they may see an indicator on your account, which somehow put a limit on the initial machine approval, but left open the option for that initial limit to be overridden by a loan officer / person.

The caveat is to ensure they use the same HP as for the application. If when you call the offer is to do a new HP, then probably not the easy increase. By telling you to call the day the package arrives, that may keep it within the timeframe to use this HP.

[trusty]

Ah, the joys of having near perfect credit. Not even a fraud alert can stop you.

The regular joe would be advised to call the Experian Fraud Department the day before, and totally remove the fraud alert; so that, when they apply, it will be smooth sailing.

If one is really concerned, they can always put the fraud alert back, the day after they conclude their business.

Over the years, I've found it wastes an awful lot of unnecessary time... dealing with multiple agents, trying to figure out if I'm a fraudster on the other end of the line, trying to commit fraud against myself.

I'd rather just have them not be bothered with the spectre of investigating possible fraud. For example: I opened a Capital One Card, and had to call in twice to activate it, after getting declined after the initial activation; because, since there was an alert on one of the three credit bureaus, that I didn't want to remove... and, of course, Capital One looking nosily at all three bureaus.

I will say this though, if your ultimate strategy is to accumulate 500k in limits and then go nuclear and leave the country... the idea that you teased a fraud alert when you opened the accounts looks really good when you claim it was all just some Nigerian scam.

[finfree]

I’m guessing that my SL was “human-determined” because I had to hold while a verification person “analyzed” my application, following which he told me I was approved, and what the SL is.

This is all rather new to me- the last bank card I applied for before yesterday was 15+ years ago (I have a CC issued about 7 years ago by my CU, but it came pre-approved— no application). It’s my fault; due mostly to inertia I hadn’t kept up with what was going on in the CC world, and just kept rolling along with bank cards (and their less than stellar rewards programs) issued 20-odd years ago.

[Anonymous]

Very nice starting limit!

[finfree]

Thanks dogz- I learned that 2 days after I spoke with Chase and was approved they pulled my EQ report (they originally just pulled EX to grant the approval). The Chase phone line still states my approval at 34k SL, but wonder why they pulled EQ.