Chase question

[Anonymous]

Hi all. I'm coming up on my 3 year mark of my Chase foreclosure, I have no negative history since and have moved all scores into the 700 band, and have high cl with NFCU and AMEX.

My question is: I applied for AMEX PRG and United Chase this time last year, approved with AMEX and not shockingly, denied with Chase. I took a hard hit with Chase, which made me think I maaaay not be on the "black list" and I was denied due to the recent FC. I'm thinking about applying with them again, and was wondering which I would be more likely to get approved for, an entry level card and build a relationship with them, or going for the United Club Card? (Thought here is maybe they'll approve since they'll be getting $400 out of me...?)

[coldnmn]

Chase HP me and then declined me for previous neg history. I have never had a card with them but they bought out a CC company that I included in bankruptcy 15 years ago. YMMV

[Anonymous]

Hmmm... Seems like they have a pretty long memory, may not be worth the HP.

[FinStar]

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@Anonymous wrote:
Hmmm... Seems like they have a pretty long memory, may not be worth the HP.

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+1

If you want to test your luck, you can always try applying OP.  However, a prior foreclosure record with Chase is probably something that will not yield positive results, regardless which card you try for.

[enharu]

+1 to finstar said.

Sometimes lenders still do a HP even though its a guaranteed denial due to blacklist. Citi for instance does that pretty often.

That being said, its best to just avoid any chase credit products for a bit longer. You may be blacklisted now, but it doesn't mean you will still be in a few months / years from now.

Whichever product you apply for will not drastically alter your approval odds, since chase is more concerned with your repayment ability more than anything else.

[wHiTeSoL]

Oh and the united club card in branch offer is waived 1st year AF ($395) vs the online $100 statement credit. 

[Creditaddict]

I'm not sure where Chase is standing these days but my best friend was denied a chase credit card because of past bankruptcy account included but then about a year later got an auto loan with chase for 3% something... he has not tried for a credit card again.

[FinStar]

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@Creditaddict wrote:

I'm not sure where Chase is standing these days but my best friend was denied a chase credit card because of past bankruptcy account included but then about a year later got an auto loan with chase for 3% something... he has not tried for a credit card again.

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Well, the auto loan is collateralized, the CC's are... well, not.   Chase can have it's quirky side.  Sometimes it can take a while for folks to re-establish the relationship and yet there are examples in which the blacklist remains for a long, long time for others. 

[Anonymous]

Appreciate the feedback, guys.  I think I'll let the FC age another year (4) and apply then, if denied I'll wait until it falls off my CR.  If I still get denied I'll take that as a clue...

[sjt]

I have been doing some research on approval criterias for prime lenders such as Chase. I have always wondered why some "blacklisted" folks get approved while others dont.

Chase, and other lenders, does keep records and it does show up when applying for a loan. Sometimes it gets purged from their system, sometimes not. When it does show up, the door isn’t automatically closed. They factor in the negative but they balance it out with the positive credit factors, i.e., payment pattern, utilization, credit established, banking relationship, etc.

If your application is denied always call for a recon. You can explain your situation and get feedback from an Analyst. Although Chase has standard guidelines, I believe that the Analysts have some autonomy with their approvals.

I was reading in another post where someone applied for a Chase Card and they were denied do to a BK. The applicant called for a recon and the Analyst told them they need to see another year between the BK discharge date and the time of the application. This person was 3 years post BK at the time they applied. Others have reported they were able to get cards with a BK from 3 to 7 years after discharge, but it all depends on the positive credit factors.