Chase Sapphire Preferred approval after reconsideration

[2themoon]

The CSP card was among the last of my goal cards. I waited patiently to fall below 5/24 and applied. I was iffy because I had a prior charge off with Chase (a Chase Health Advance account from over 10 years ago), but Chase had purchased my mortgage some time last year so I decided to give it a chance even though I didn't see any preapprovals in my Chase mortgage account or my Chase Credit Journey account.

I applied and got the message to unfreeze my Transunion and call a 800 number between the hours of 8am and 8pm M-F. I did so and called and was denied over the phone. The representative read off four reasons for the denial and told me I would get a letter in the mail. The wind was definitely knocked out of my sails because even though I had that past deliquent account I had made great strides in recent years towards building my credit to the point where I got approved for not only a mortgage, but other loans, and credit cards so I thought there was a chance they would let me slide back in. The denial letter generated in my mortgage account under documents the next day. Below are the reasons for the denial:

Past or present delinquent credit obligations withchase
Insufficient or no balance in Chase deposit and/or investment accounts
Credit card balances are high compared to the age of the accounts
One or more requests for new credit in the past 12 months

I decided to bite the bullet and call the reconsideration line the next day. After a shaky introductory back and forth (I questioned why a bank or investment account would be a reason when I have a mortgage) the rep told me she could manually take a look. She kept me on hold and came back a few times to ask a few questions including why my BOA Cash Rewards balance was "an outlier" (I'm at 50% utilization on that card). I explained why, and also answered if my income is fully taxable (it is). To my surprise she came back on the line with not only a reversal, but I was approved for the card with a $19,500 credit limit!

A few datapoints: on the denial letter I learned that Chase has its own scoring system that ranges from 250 to 900. Mine is below. My salary is $226,500 per year base, and my mortage is $2122 per month. Even though my BOA has high utlization, my overall utlization is under 9%.

Scoring system name: Chase Proprietary Score
Source: JPMorgan Chase Bank, N.A.
Date calculated: 08/02/2023
Your credit score: 872

Thanks everyone for everything I have learned here over the years. I am very happy about where I am in my credit journey today.

[laurenjessica]

Congrats on your rebuild success and your approval with Chase!

[JoeRockhead]

Nicely done, congratulations on your approval!

[SouthJamaica]

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@2themoon wrote:

The CSP card was among the last of my goal cards. I waited patiently to fall below 5/24 and applied. I was iffy because I had a prior charge off with Chase (a Chase Health Advance account from over 10 years ago), but Chase had purchased my mortgage some time last year so I decided to give it a chance even though I didn't see any preapprovals in my Chase mortgage account or my Chase Credit Journey account.

I applied and got the message to unfreeze my Transunion and call a 800 number between the hours of 8am and 8pm M-F. I did so and called and was denied over the phone. The representative read off four reasons for the denial and told me I would get a letter in the mail. The wind was definitely knocked out of my sails because even though I had that past deliquent account I had made great strides in recent years towards building my credit to the point where I got approved for not only a mortgage, but other loans, and credit cards so I thought there was a chance they would let me slide back in. The denial letter generated in my mortgage account under documents the next day. Below are the reasons for the denial:

Past or present delinquent credit obligations withchase
Insufficient or no balance in Chase deposit and/or investment accounts
Credit card balances are high compared to the age of the accounts
One or more requests for new credit in the past 12 months

I decided to bite the bullet and call the reconsideration line the next day. After a shaky introductory back and forth (I questioned why a bank or investment account would be a reason when I have a mortgage) the rep told me she could manually take a look. She kept me on hold and came back a few times to ask a few questions including why my BOA Cash Rewards balance was "an outlier" (I'm at 50% utilization on that card). I explained why, and also answered if my income is fully taxable (it is). To my surprise she came back on the line with not only a reversal, but I was approved for the card with a $19,500 credit limit!

A few datapoints: on the denial letter I learned that Chase has its own scoring system that ranges from 250 to 900. Mine is below. My salary is $226,500 per year base, and my mortage is $2122 per month. Even though my BOA has high utlization, my overall utlization is under 9%.

Scoring system name: Chase Proprietary Score
Source: JPMorgan Chase Bank, N.A.
Date calculated: 08/02/2023
Your credit score: 872

Thanks everyone for everything I have learned here over the years. I am very happy about where I am in my credit journey today.

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Welcome to the forum.

Congratulations on the successful recon, and thanks for the information.

[BigBS]

Congrats on the approval and welcome to the forum! Thanks for sharing your story.

[CreditMagic7]

Congratulations on your approval!

[coreyb80]

Congrats on the great approval!

[drewricomakeubu]

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@2themoon wrote:

The CSP card was among the last of my goal cards. I waited patiently to fall below 5/24 and applied. I was iffy because I had a prior charge off with Chase (a Chase Health Advance account from over 10 years ago), but Chase had purchased my mortgage some time last year so I decided to give it a chance even though I didn't see any preapprovals in my Chase mortgage account or my Chase Credit Journey account.

I applied and got the message to unfreeze my Transunion and call a 800 number between the hours of 8am and 8pm M-F. I did so and called and was denied over the phone. The representative read off four reasons for the denial and told me I would get a letter in the mail. The wind was definitely knocked out of my sails because even though I had that past deliquent account I had made great strides in recent years towards building my credit to the point where I got approved for not only a mortgage, but other loans, and credit cards so I thought there was a chance they would let me slide back in. The denial letter generated in my mortgage account under documents the next day. Below are the reasons for the denial:

Past or present delinquent credit obligations withchase
Insufficient or no balance in Chase deposit and/or investment accounts
Credit card balances are high compared to the age of the accounts
One or more requests for new credit in the past 12 months

I decided to bite the bullet and call the reconsideration line the next day. After a shaky introductory back and forth (I questioned why a bank or investment account would be a reason when I have a mortgage) the rep told me she could manually take a look. She kept me on hold and came back a few times to ask a few questions including why my BOA Cash Rewards balance was "an outlier" (I'm at 50% utilization on that card). I explained why, and also answered if my income is fully taxable (it is). To my surprise she came back on the line with not only a reversal, but I was approved for the card with a $19,500 credit limit!

A few datapoints: on the denial letter I learned that Chase has its own scoring system that ranges from 250 to 900. Mine is below. My salary is $226,500 per year base, and my mortage is $2122 per month. Even though my BOA has high utlization, my overall utlization is under 9%.

Scoring system name: Chase Proprietary Score
Source: JPMorgan Chase Bank, N.A.
Date calculated: 08/02/2023
Your credit score: 872

Thanks everyone for everything I have learned here over the years. I am very happy about where I am in my credit journey today.

---

I have yet to see on any of my approvals my Chase proprietary score. I do not know why. 

[cashorcharge]

WooHoo!! Congratulations on your recon Approval!!👏🏼🍾🥂

[KingRue8500]

Congrats on your Chase Sapphire Preferred approval