NH_CarDealer wrote
ok this doesn't make any sense..can someone enlighten me.
I applied for a credit card with Chase the other day expecting to have NO issues with receiving this card....well guess what, DECLINE
1.) Balance on one or more revolving account is over the credit limit. <~~~~They admited wrong on this and it's being removed but still not accepted
Pull all your reports to see if the accounts are listed correctly , I recently realized that my carloan is listed both as a car loan and as a revolving loan n error.
2.) Too Few accounts on file for a sufficient length of time. <~~Bull S had accouns for over 5yrs with never not once a late payment.
your average account age might be too short , give us feed back from your FICO report and we will tell you a little bit more about this.
3.) Too Many requests were made for new credit.<~~~~All always paid most are car loans but most paid in full within a year
too much request for credit means just that , pull your FICO to see how many inquires you have over the last year car loan and everything else. FICO gives no regard to whether you paid for them in 2 mo or the next day.
none of this makes any sense at all...so I call and this is what they tell me.
my credit cards are over the limit...which they are not even close never at all, never not once in my life...I get nervous if they have more than 1k on them.
__1st financial opened 5yrs ago 11k limit with a $40 balance...yes $40.00 GOOD
__ DigitalFederal Credit Union 4yrs ago $4500 limit with a $900 balance 20% try to zero
__BOA $3500 limit 5yrs w/ $400 balance. =11%
JCP 1yr $50 balance $2000 limit GOOD GET TO ZERO
Old Navy 3yrs 0 balance $1500 GOOD
Sams Club 2months $500. balance $1500 limit = 33%
You have too many credit cards with a balance, my impression is that the score favors that os all our 6 cards at least 3 should have zero balance and the remainder should be no more than 9% utilized.
Three auto loans check this out..
2003 Scion 20k PIF never late <~~~~~~Paid in Full 5yr note
2008 Nissan 19.5k PIF never late <~~~~~Paid In Full within 5 months
2009 Hyundai opened 4-1-09 @ 33k paid down to 23.5 in 5 months. <~~~~~current
your installment loans are not hurting ou if you are current with no lates
NEVER EVER EVER NOT EVEN ONCE....been late on a payment to ANYTHING!!!
Your credit mix is limited to heavy revolving and auto (lacks mortgage and educational) though this should not be a problem
I would suggest you continue with the recon , but pull your FICO and review closer. also find out which CRA they used and be sure toreview that one in particular.
CHASE is crazy I had 2 accounts charged off with them in 2003 ready to fall of my report in jan 2010. 6 months ago they send me an applicaion for the freedom (I was opt out at the time so they broke the rules tsending this ????) they approved me for the freedom card with a 7000 CL despite the blaring 1500 CO and 6000 CO form 2003 staring them in the face. maybe my 350K/yr annual household had something to do. with it go figure !! and no I do not feel terrible medical school is expensive and yes I paid it back to CA in full got no delete yet working on it but might just let it be since it has only 4 more months to die out.
Keep on them with the recon.
good luck the wise 