Chase Freedom declined me and Reconsideration did declined me! paniced

[CreditDunce]

Deleted.  I didn't have an updated thread when I replied.

[capitalkid]

Chase does not like a thin file for sure.  Wait it out, you will get there.  I got declined several years back and I had 6 years of credit history, however i had only low limit cards with sub sub prime lenders and chase wanted more.  So, I apped Disc got that going and got my CLi's, apped for a citi card got that going got a cli on that 1, got a Lowes card and that has gone from 800.00 to 8500,  and others - I have really worked hard, ate the INq to get the lines and grow them upwards.  I figure whatever the INq fall of in 2 years, in fact from that app spree they start falling off in 6 months or so.  

When I apped for Slate April 2013 I Reconned 3 X and denied all 3 X My profile had:

6YO CapOne Credit steps card 2200$ 1900Ba 

6 mo 76 card 800$ CL 0 Ba

6 Mo CareCredit Card 5K CL 0 Ba

6 mo CarCareOne Card 700CL 0 Ba

3 YO JCP 3100$ CL 500$ Ba

3 YO Best Buy 600$ CL 0 ba

3 YO Sears Mastercard 1050 CL 0 Ba

Closed By Consumer

First Premier 750$ CL 0 Ba 7 YO

Total Visa 350$ CL 0 Ba 7YO

Continental Finance 900$ CL 0 Ba 7 YO

Firestone Card 1400$ Cl 0 Ba 1 YO

So I added the following and grew them after the Chase Denials.

Disc It - got a message to call them, not really denial but not approval approved 4K

(I BT'd my CapOne Balance to Disc and PIF in 6 mo)

Lowes - Approved for 800$ line CLI on activation to 1100

Citi Dividend 2.2K-that I recently converted the Hilton Reserve. Denied Approved on recon

Roamans 500$(I have great use for this card even with low limit) Shopping cart trick

UPromise Mastercard-2K Denied approved on recon

Then I added some more 6 months later

USAA 7K Instant approval No recon

USAA 7K Instant approval No recon

PayPal MC 3K Instant Approval No recon

Dell Preferred 2.5K Instant approval No recon

Worked on my BBY Line and as soon as citi took over I did a Rapido CLI Req with them, 600-4K 1 HP.

Worked on getting my JCP Line up 3100,5000,6000,6500

Worked on getting my Sears Line up 1050,1500,4600

I have really been diligent about keeping my eye on the prize, which is to land a chase account.  For several reasons, they have the best rewards cards out there , awesome sign up bonus's and we are working our way towards an amtrak trip.  So with the CSP on my side and my DH AGR card we are in like flinn(but dont tell them thats why you are applying) In January 2014 I apped for CSP, Denied approved on recon 1X.  

By that time I had 7 Decent Established lines that were over 5K CL, which they like for their cards that have a minimum credit limit, and it was approved.  I recently hit my post 6 mo mark with them, account history is stellar, and apped for Marriott rewards, denied approved on recon 1X.  I keep everything logged on a spreadsheet date of application, approval/denial, date of cli amount, ect. so I know exactly when its time for the accounts to grow or not.  I try and keep Util around 10%.  Sometimes it is a bit more or less of that figure, but that keeps me even.  

Chase does not seem to jump in the water first, you need a divers pool of established lenders to catch that fish.  However you will see posts about people just randomly getting on with them with no history I really think its far and few between, as always YMMV.  

[Closingracer99]

They typically like a full year of history so maybe something is throwing a Red flag in your reports? 

I would wait like 6 months and try again maybe or try Reconing again

[fearlessdragon]

I applied for Chase freedom last year May 2013 after I got my first credit card from BOA 4 months earlier. I was declined and recon declined it. I tried calling recon dept daily 2 times. one on morning and one in afternoon. After 3 days i got approved for $1200. I would say try calling recon daily and sometimes you may get a nice credit analyst who can approve it.

[Closingracer99]

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@fearlessdragon wrote:

I applied for Chase freedom last year May 2013 after I got my first credit card from BOA 4 months earlier. I was declined and recon declined it. I tried calling recon dept daily 2 times. one on morning and one in afternoon. After 3 days i got approved for $1200. I would say try calling recon daily and sometimes you may get a nice credit analyst who can approve it.

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Maybe they decided they wanted you to stop annoying them with phone calls so they approved you

Seriously though it wouldn't hurt Reconing again you took the HP already so worse can be another no 

[p-]

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snowcat26 wrote:  ...They declined me two times today. What should I do for next step?? 

1.BOA cash reward - opend 2013 AUG -Limits: $2,500

2.AMEX SPG - opend 2014 Jul -Limits: $2,000

3.AMEX Delta Gold - opend 2014 Jul -Limits: $15,000

4.Discover IT - opend 2014 Jul -Limits: $4,000

5.Barclays US Airways - opend 2014 Jul -Limits: $4,000

Total limits: $27,500

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When I was denied by Chase, the recon reps were very forthcoming with their concerns.  They explained to me that I had added a lot of new credit, and had new lines less than six months old much higher than anything I had ever had before.  They said they would prefer to see how I handled that new credit before offering any more to me.  It made sense, and I followed thier advice.  No more apps until all of my cards were a year old, and then I reapplied and was easily approved.

You just increased your credit lines by a thousand percent, literally.  Adding 25,000 to 2,500 in credit lines is a major change, and you've only had them for a month.

You need to stop applying or you risk some of your other cards reducing limits or closing whn they see all of the other credit on your report.  Most of them soft new customers monthly.

I reccomend you go to the garden for a year, and leave Chase alone.  They are not going to approve you.

[p-]

One more thing;  The Chase recon reps are different than anyone else I've spoken with.  It's clear that they are the ones making decisions, and they tell you exactly what makes them worry when they see your report.  Listening to their concerns helped me refocus my repair efforts on the things that scare underwriters, and ultimately helped me shortcut the recovery process.  

Rather than fighting them, learn from them.  They are players in a game you must understand if you want to win it.  You've seen inside their mind.  Use it!

[red259]

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@p- wrote:

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snowcat26 wrote:  ...They declined me two times today. What should I do for next step?? 

1.BOA cash reward - opend 2013 AUG -Limits: $2,500

2.AMEX SPG - opend 2014 Jul -Limits: $2,000

3.AMEX Delta Gold - opend 2014 Jul -Limits: $15,000

4.Discover IT - opend 2014 Jul -Limits: $4,000

5.Barclays US Airways - opend 2014 Jul -Limits: $4,000

Total limits: $27,500

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When I was denied by Chase, the recon reps were very forthcoming with their concerns.  They explained to me that I had added a lot of new credit, and had new lines less than six months old much higher than anything I had ever had before.  They said they would prefer to see how I handled that new credit before offering any more to me.  It made sense, and I followed thier advice.  No more apps until all of my cards were a year old, and then I reapplied and was easily approved.

You just increased your credit lines by a thousand percent, literally.  Adding 25,000 to 2,500 in credit lines is a major change, and you've only had them for a month.

You need to stop applying or you risk some of your other cards reducing limits or closing whn they see all of the other credit on your report.  Most of them soft new customers monthly.

I reccomend you go to the garden for a year, and leave Chase alone.  They are not going to approve you.

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+1 I agree with the stop applying part. You had a decent run. Pushing it further just puts you at risk for AA. Chase doesn't want you. Get ovcer it. Move on with your life and let Chase see how happy you are with your new cards. When chase sees you with your new cards and doing great without them they will get jealous. They may even send you suggestive mail trying to woo you back. Ignore them until your ready. Make chase work for your affection. 

[casemodgod]

I have much lower scores than you, and they approved me after address verification.

I think once you tip over the 12 months mark, wait till around 90 days past your most recent app

and then try again.

My history goes way back, and a long time ago I had a Chase Businesscard that might still be

showing in their files.

[sexy_kitten7]

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@SamsungHDTV wrote:

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@Anonymous wrote:

I applied chase Freedom and I had BOA cash reward card about 11 months at the time of application. Now BOA is about a year old, and I called reconsideration dept. They declined me two times today. What should I do for next step?? 

My Fico is 741....

The reason I declined was "Not enough credit history: credit history is too short".

1.BOA cash reward - opend 2013 AUG -Limits: $2,500

2.AMEX SPG - opend 2014 Jul -Limits: $2,000

3.AMEX Delta Gold - opend 2014 Jul -Limits: $15,000

4.Discover IT - opend 2014 Jul -Limits: $4,000

5.Barclays US Airways - opend 2014 Jul -Limits: $4,000

Total limits: $27,500

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Your credit score is only one piece of the application. As you're experiencing now, there are many other factors that lenders look at. Chase is on the more conservative side. IMO, that isn't a bad thing. Just wait awhile and apply later. They'll eventually approve you.

If I was a lender, I would look at your application and see these reasons:

1. not enough history

2. short AAoA

3. too many inq within a short time

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Chase Freedom is a starter card, so the lack of history is not the issue IMO.

The main issue is that OP had a thin file and then did a large AOR last month. Those inquiries are brand new.

I'd wait 90+ days before seeking more credit. Congrats on your current portfolio though!