@GPMDRL wrote:
Hi all,
I was wondering if chase had a blacklist and if so, is it forever or maybe a time limit?
About 7-8 years ago I ran into issues and couldn't pay my $6k balance on my chase card. I honestly forget if it was a business or personal card. Credit went to awful, the whole story. Debt went to a few creditors and I eventually settled years later.
Fast forward to now, my business totally turned around, I have a clean credit report, scores around 815. I have an Amex with $33k limit, discover with $39k, Barclay with $20k and a Cap 1 sparks biz with $30k. If I'm not paid in full on cards, I have max 2% utilization every month. I was looking to close my cap1 biz card and go for the Chase Ink. I don't like how the Cap 1 biz card reports to personal credit acct. and I could use the 60k rewards Ink currently offers. I was also thinking of the Sapphire and possibly replacing the Barclays world elite with it. I have a $4k house repair coming up so I'd for sure get their 50k bonus as well.
I have two inquiries on my report and I really don't want to waste any on applying with Chase If I'm most likely blacklisted. I'm pretty set with cards so no biggy if I can't get them, just looking like the rewards with Chase are better than what I have. Thanks for any input!
Chase definitely does blacklist, but it's a YMMV situation like most on here. I worked for Chase for over 5 years, and saw PLENTY of people who burned Chase NEVER able to get another card from them again. I also saw a couple people slip through the cracks and end up getting a 2nd chance. I can tell you from my own circumstance, I had my identity stolen and had to settle the debts from the identity thief since the banks wouldn't write off all the debt as fraud (this was over 10 years ago and they weren't as cooperative then as they are now). I had to settle the debt with Chase, and they ended up forgiving about $5k of fraudulent debt. When I went back to them years later even having been an employee for several years, they wouldn't approve me for a credit card. I reconed, I reconed again, I waited, waited, and FINALLY got them to give me a CC with a $500 CL via the Special Consideration Form after I had over $10k in deposits in their bank. Once I got my foot back in the door with them, they've been very generous to me. I went from $500 to $3500 to $15,000 on that same card and now I have 4 Chase cards with total credit of over $65k in less than 3-4 years from the time they denied my original app and gave me a measly $500 CL.
As long as you're mindful of the 5/24 rule, if you do have a preapproval, your chances of getting an approval are at least 50/50 depending on if your charged off accounts still pop up in their systems under your SSN when you app. Preapprovals are NOT a sure thing, as I just had a preapproval for CSP and got denied due to the 5/24 rule, so don't listen if people say they're 100% going to be approved. If you want to get your foot back in the door with them, I say app, since your credit seems solid. I think you'll get approved. I would probably stick with a simple card like Freedom for right now just to get in with them, then go for a premium card later since those sometimes get more scrutiny. Good luck and keep us posted!
My Top 3: Amex Delta Platinum ($30k) | Amex PRG | Citi Prestige ($30k) |
Starting scores 600-640 (2013), current 765-775 (2019); It is possible!
Starting Score: 669
