Chase CSP denied due to....

[scottykhan]

Applied for Chase CSP and got 30-Day message. Called the back door number and the analyst said your Ex score is low and also you have sufficient credit available with respect to your credit score???  Reallyy!!!!!  I have following cards

Merrill Lynch: $15000; BOA Priviliges: $7500; BOA Amex $20,000(got 5k increase thru SP today); Fidelity Amex: $5000; Discover: $2500; Barclays: $2500

Ex: 652 (Still shows 1 baddie 7 years old)[ 5 INQ]

TU: 668 [4 INQ]

EQ: 696[ 1 INQ]

AAoA is 4.5 years.  Should I call again and try my luck with different Analyst?

[jsucool76]

Whats your income if you don't mind me asking. Thats basically 50k in credit, so if your income is 50-70k i could see them thinking you have enough credit.

[improvingmycredit]

Hey scottykhan!
Your EX FICO score is low for having only 1 baddie 7 years old. That baddie should be dropping off soon. How high is your utility? I think this may a utility problem. There must be something else on our report if EX is 652 with only 1 aged baddiy showing or your utility is very high. Is this a FICO score? Your AAoA is decent and your limits are in line. Might want to take a close look at your CR. Sorry to hear bout the denial.

[scottykhan]

Income above 200k and util is less than 1%

[navigatethis12]

I don't know how derogatory information is scored, but those scores are really low for your credit history. My history is a lot shorter than yours and scores are 100+ more. Did you recently open up any of those that could make the scores drop?  I would try at least one more time.

[09Lexie]

@navigatethis12

Exactly what I was thinking!

[scottykhan]

Opened 4 accounts recently also there were quite a few baddies that fell off the report in march 2013. So, i'm hoping the score will go up after june i guess

[09Lexie]

Sounds like the 4 new accounts bringing that score down was too much for that analyst. Call again and be prepared for why you want more credit after opening the new accounts. I assume you waited until the accounts hit your cr before applying.

[dodgerslv]

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@scottykhan wrote:

Opened 4 accounts recently also there were quite a few baddies that fell off the report in march 2013. So, i'm hoping the score will go up after june i guess

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did u make sure before you applied that all the information had updated on EX? Maybe not everything had come off? I had 2 collections from 2011 and 2 Chargeoffs from 2007 and my EX score was 686 (according to AMEX) so your score is way too low for the openings of 4 new accounts (especially if your file is thick).

[improvingmycredit]

+1
Hey All!
Well the low FICO is definitely the problem. The reason for the denial wasn't due to new accounts- it was due to " you have sufficient credit available with respect to your credit score". I am really confused about the low FICO in relation to the information available. I suspect that Chase will not be able to offer an approval of 5K or more for the CSP with a 652 EX score. This is what the denial implies. If the rest if your baddies just fell off, wait a month and check your EX report again for errors. If they are indeed off- app again if you want the card or wait till the last baddie falls off. With only 1 baddie and such low utility, your EX should be a lot higher.

I've not seen an approval for a CSP below 680 and I think that's a marginal score for this card. Just an FYI.