Chase Freedom Application Response..."30 day wait"

[Anonymous]

Guess what?

DECLINED...Reason being, that I have too many inquiries, they said I have too many lines of credit, I have a few student loans.

I only have four credit cards, my student loans are only at 15k and active.

I asked about the balances or credit score and the lady told me their deciding factor was the inquiries. I do have a lot because some a-hole at the chevy dealership almost two years ago, applied at 15 banks in search of an approval for an auto finance. I am still waiting for those to come off my report.

Then I obtained a barclay card in June, and a capital one card in June. Chase told me that two new lines of credit is a sign of aggressively seeking credit.

What a bunch of crap, I have an auto finance through chase, none of my bills are late or in collections, and I pay my cards on time. 

To make matter worse, chase just wacked me with three more inquiries on my reports just to decline me **bleep**!

Any tips or ideas?

I am so livid right now...

[jamesdwi]

give it 6 months, let your credit age, don't app for anything, if your INQ's are really almost 2 years old, they will be off your report, usually they only look for the last year. It could be income related as well though they don't usually say that.

AAoA and INQs is a big things with chase, I was denied when my AAoA was less than a year they denied me, 6 months later I was approved for freedom and slate, a year a later they gave me a CSP with a 10k limit and 5 months ago I got the Southwest card with a 20k CL.

The too many card things is bogus they don't care how many cards you have if UTL is low and your AAoA is good. 

[Anonymous]

How did you end up with three additional inquiries for this one application? Since the cards they mentioned were opened 3 months ago I think the issue is too many new lines of credit and inquiries which isnt uncommon for a denial reason. Sorry it didnt work out but in this case I think it might have been wise to wait until those accounts had aged at least 6 months before applying. Dont believe there's anything you can do about the inquiries but someone else may have different information for you 

[Anonymous]

Thanks James.

I am going to do that...not apply anywhere else and just pay off the balances that I have and maybe reapply in six months. To be honest this is the second time chase has turned me down and I have an auto finance with them, I kind of don't even want a card with them anymore. All I wanted to do was to consolidate my balances to a balance transfer card. yeah I have like 19 inquiries but atleast 15 of them are scheduled to come off by december 14' and Jan 15'. I have three inq from this year from the cards I obtained. It is just really crappy because now chase added 3 hits to my inqs and gave me a line of bs as to too many open accounts and too many student loans so I am apparently seeking credit aggressively. 

[Anonymous]

They put a inq on all three credit reports. Thats how I got 3. And as for waiting six months I didn't know that. Now my credit score will get lower and I'll be screwed. I have the two car loads, student loans, and my other credit cards. If my score goes down and those account get affected or closed I am gonna be pissed.

[Anonymous]

What is a good website to go to, to obtain all 3 bureau credit reports?

I want to purchase all three and see what the is going on and how long it should be before inqs and other things fall off. I just don't want to pay a bunch of money or sign up for a monitoring membership.

Thanks

[Anonymous]

I see. Havent heard of Chase pulling all three before now but there's always a chance that can happen. I didnt know a lot of things before coming here dont let that get you down. I dont think this would cause any of your accounts to close and if your scores are lower they would likely rebound during your six months of waiting and paying on time, paying balances down etc. It sucks right now but you'll be ok

[09Lexie]

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@Anonymous wrote:

I see. Havent heard of Chase pulling all three before now but there's always a chance that can happen. I didnt know a lot of things before coming here dont let that get you down. I dont think this would cause any of your accounts to close and if your scores are lower they would likely rebound during your six months of waiting and paying on time, paying balances down etc. It sucks right now but you'll be ok

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The app probably was a double pull and another bureau was pulled when OP called.

[Anonymous]

What do you mean, I am new here?

[Anonymous]

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@09Lexie wrote:

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@Anonymous wrote:

I see. Havent heard of Chase pulling all three before now but there's always a chance that can happen. I didnt know a lot of things before coming here dont let that get you down. I dont think this would cause any of your accounts to close and if your scores are lower they would likely rebound during your six months of waiting and paying on time, paying balances down etc. It sucks right now but you'll be ok

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The app probably was a double pull and another bureau was pulled when OP called.

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Got it. That makes sense