I applied for the Slate card last Friday and recieved the "pending further review" response, which is always a denial for me.
Today, I called the back door number aboiut the status and the rep. who was super nice told me the application was declined and to next time call right after applying (which I sort of knew but was not ready to do the recon on the phone).
Anyways, he looked over my report and said they could not approve me because there are 2 collections on my account, one from 2008 and another from 2011.
I also have a 9.5 year old bankruptcy, which I did include a Chase United Visa.
He did say that my payment history and credit management is really good expect one card I have is at 48%(which was bad timing because I paid that card off last week) utilization and they really like to see lower utilizations.
He put me on hold, looked things over and said if I did not have the two collections I would definitely be approved and he was going to send me a letter explaing the main causes because the denial letter sent out just says bankruptcy on it. Long story short, the bamkruptcy I guess is old enough now where they are not mad or feeling burned but want to see the collections gone.
I am tempted to call again tomorrow and see if I have luck with another agent. My credit score is 660, bankrputcy when I was 19 so maybe they can understand I was young and have been somewhat better over the years.
Should I pay the collection from 2011? It is a portfolio recovery collection and they update it every month as 120 days deliquent.
Thank you for taking the time reading this long winded story. I know I should just garden and be patient and apply again in a year for a better card. I just read so much about people getting approved after a 2 or 3 recon. Thanks for your help!
