I applied for a Chase 12 month, no fee, 0% BT, & 0% Purchase offer.
The offer even referenced my current Chase account, which meant the bank had already possessed my complete up to date credit histories through account reviews before making the offer. There would be absolutely no surprises when pulling the hard inquiry for the application. There was absolutely no valid reason for renegging on the offer upon reviewing the subsequent complete current reports. Balances were down and score was up since the issuing of the invitation.
Too good to be true in today's credit climate? It sure was. 
Chase pulled Experian (801 FICO) the next day. No negs. Only one $150 CC balance. The new card was approved within 24 hours, but only for the standard "go to" interest rate of 9.99% quoted in the 0% offer.
My current Chase card is already at 6.99%. No promo rates were given on the new card. Chase pulled the old bait and switcheroo. I haven't applied for any credit at all in 4 years. I would prefer not to have a new low limit ($13,300) card added to my credit files.
I would like to add the $13,300 CL from the new card to my current card and cancel the new card before activation. The CSR from the Chase "loan department" told me that the new card would not be reported to the bureaus if I canceled before activation.
I would like to see a show of hands. 
Does anyone think that I should believe what I was told?
I am inclined to believe that I am stuck with the tradeline on my reports whether I close it or leave it open. I don't want to cancel the card if it will end up as a closed account in my files.
If I close the card and it does report, does anyone know if a dispute will be rewarded with a deletion since it was not the card for which I applied, and I never actually accepted the terms of usage?
If I am going to be stuck with it on my reports, I would rather not close it for all of the conventional "best practices" FICO enhancing reasons. It will however not reside in the drawer with clean socks. The bottom of the sock hamper would be a more appropriate resting place for the card 
while I recover some average age and revert to "0 inqs & new accounts in the last 12 months".
while I recover some average age and revert to "0 inqs & new accounts in the last 12 months". UPDATE 9/16/2008: Chase reconsidered and issued the card with all advertised terms and rates. See explanation here.
Message Edited by CreditAble on 09-16-2008 02:26 AM
1 ACCEPTED SOLUTION
Accepted Solutions
UPDATE
shelby127 wrote:Hopefully you'll get the terms that you thought you would.......................... Hope everything works out.
I had already read the Chase recon thread and proceeded to immediately use all the phone numbers in that thread and the backdoor numbers thread. I ended up talking to a lot of people who were absolutely convinced that there was no way to get Chase to change the terms of the newly issued card so I had wanted to refuse the card and try to keep it off my reports.
I had originally posted to get help in deciding whether to refuse an unwanted, card since I was hoping to keep it from being reported to the bureaus. If the tradeline couldn't be kept off the reports I would have preferred to keep it open. Many of you gave me such great responses and encouragement.
Because of the replies to my post I was motivated to try one more time to try to politely ask Chase why the card wasn't issued with the promised terms.
All of a sudden I got the feeling that there were a whole lot of customer service notes placed in my Chase credit card file. The rep seemed to know why I was calling even before I opened my mouth. He immediately said "Mr Able your new card has had the complete promotional package added to it." He began reading the whole long list of terms, 0% purchase, 0% BT rates, and November 2009 promo expiration date.
The "package" probably was added after I had finished talking to a credit analyst in my first round of recon attempts. I had asked him what were any possible reasons why the system might have denied my deal? He had said that my 8 year history seemed a little short. Normally I believe that an 8 year history shouldn't be a cause for concern. I took a wild guess. Do you mean because of my age? I have always wondered if my life long policy of never buying on credit, (no credit history), raised questions in the system. The rep told me something very interesting. He said that the 10 year mark was where the Chase analysts more or less draw the line for reassurance of credit worthiness. He said that they pretty much don't care what a person did as far as defaults, deroggs, and BKs prior to 10 years of good payment history. He actually stated that even if one had a BK prior to 10 years ago, Chase believes that 10 years of good history proves that the consumer learned how to handle credit and is treated as though he never had a BK. That is definitely not the case with some CC issuers. I hope that tidbit encourages some credit rebuilders out there.
I explained my reasons for applying for the card and how I had intended to use it, I further said that I uderstand that Chase may never be able to explain why I didn't get my promo deal, I politely asked him if I can have the tradeline removed from bureau reporting if I decline the card. I pointed out that I hadn't applied for credit in 4 years and am very particular about my credit reports. He was the rep who had told me that I could have the tradeline removed. I will never know if it could have been removed because I think that he is also the analyst that had approved my request after I had hung up the phone.
Contractor said; "I would start calling people and keep calling people until I got some satisfaction if I had an 801 in my back pocket." I guess Chase's system was working in the background. As the recon threads verify, a no is not actually a no. Sometime a no means that "I can't give you my final decision at this moment."
It is a little strange that Chase came through after I made my post here and got all of those great replies. If Chase employees are reading this thread, I would like to thank you for your good customer service. 
Message Edited by CreditAble on 09-16-2008 02:27 AM
contractor wrote:
My vote is it will show as a tradeline either open or closed.Unfortunately I tend to agree with you.
I think I would start calling people and keep calling people until I got some satisfactionI talked to quite a few people already. I'll make one more attempt to get satisfied after I receive the "welcome" package and am able to have all the final details in writing.The reason I posted was to gauge my chances of not having the new account report if I cancel it before activation. Once I cancel it, I don't want to be in the position of trying to reopen it if the card remains on my report.
if I had an 801 in my back pocket.Because of my in house history, my credit bureau reports, and I assume my FICO score, Chase has been sending me offers for other/additional cards for quite some time. I never responded since none of the offers were any better than my existing card which still gives 5% at the pump.Chase finally got me to respond to a "Dodo_Bird"