No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Anyways I signed up my friend for $200 chase checking bonus at Chase bank today. They asked if they wanted him to app for a Freedom card. and he only got approved for $500....
we were like **bleep**? Since he had a Capital one for 3 years canceled, and only thing he has now is a Discover with 3 year AAOA open.
with 1200 out of $2500 limit used and a $0 balance on a Marks and Morgans credit card with a $3900 limit. That should keep him up at 18% credit to debt ratio which should be fine. Considering his score and AAOA he should ATLEAST be approved for $2,000 imo even with only 2 cards reporting.
So turns out Chase does NOT factor in store card accounts into their utility..... so it looked like he was almost 50% of his credit usage with their underwritting....
Chase is a great bank, but never something new everyday....
Dang, that stinks! i know how that feels tho lol chase did the same thing to me. kinda pissed me off lol but no big deal i guess
yea it's his first Visa since his capital one was a mastercard, and it's worth it just for discounts and reward malls alone, chase is pretty good about CLI until $5,000 then it's not so fun.
@distantarray wrote:Anyways I signed up my friend for $200 chase checking bonus at Chase bank today. They asked if they wanted him to app for a Freedom card. and he only got approved for $500....
we were like **bleep**? Since he had a Capital one for 3 years canceled, and only thing he has now is a Discover with 3 year AAOA open.
with 1200 out of $2500 limit used and a $0 balance on a Marks and Morgans credit card with a $3900 limit. That should keep him up at 18% credit to debt ratio which should be fine. Considering his score and AAOA he should ATLEAST be approved for $2,000 imo even with only 2 cards reporting.
So turns out Chase does NOT factor in store card accounts into their utility..... so it looked like he was almost 50% of his credit usage with their underwritting....
Chase is a great bank, but never something new everyday....
Does "Marks and Morgans" report to all 3 CRAs? I've never heard of that store, so it is probably a small store or a jewlery store or something that gives out CCs. If they don't report to all 3 CRAs and chase pulled an agency they don't report to that could be the cause of the high util.
@jsucool76 wrote:
@distantarray wrote:Anyways I signed up my friend for $200 chase checking bonus at Chase bank today. They asked if they wanted him to app for a Freedom card. and he only got approved for $500....
we were like **bleep**? Since he had a Capital one for 3 years canceled, and only thing he has now is a Discover with 3 year AAOA open.
with 1200 out of $2500 limit used and a $0 balance on a Marks and Morgans credit card with a $3900 limit. That should keep him up at 18% credit to debt ratio which should be fine. Considering his score and AAOA he should ATLEAST be approved for $2,000 imo even with only 2 cards reporting.
So turns out Chase does NOT factor in store card accounts into their utility..... so it looked like he was almost 50% of his credit usage with their underwritting....
Chase is a great bank, but never something new everyday....
Does "Marks and Morgans" report to all 3 CRAs? I've never heard of that store, so it is probably a small store or a jewlery store or something that gives out CCs. If they don't report to all 3 CRAs and chase pulled an agency they don't report to that could be the cause of the high util.
Marks and Morgans is a Jewelry store owned by Sterling. and Sterling owns
and they report to all bureaus.
@youngandcreditwrthy wrote:
If it reports, they consider it. They considered my overall util including all of my store cards when I got my Freedom w a $5k limit.
They told straight out, we do not factor store cards internally, it helps your Fico score, but they ONLY look at major credit cards that are backed by a larger network like Visa Amex Discover etc. They counted his credit to debt ratio on his single Discover card alone for the internal score.
recon twice for the limit or just the approval? lol
They are big on saying they don't go by score alone. Some people have high scores and low AAoA so I guess that's why they take that stance in the recon department at least.