General credit card application background & application questions, aka Do Banks Hold Grudges?

[Anonymous]

Hey all, 

Background first - 

After several long years of rebuilding and waiting patiently for my previous transgressions to drop off of my credit record, I'm nearing the end of the process.  I currently have the following on my credit reports: 

Experian:  FICO 720, 1 inq from 8/26/2013, no other accounts showing, no negative items.  

Transunion:  669 Vantage. No inquiries. One active installment account paying on time as agreed (rehabilitated student loan) , one closed installment account (transfer of said student loan, no negative status).  1 derog revolve, 1 collection.  

Equifax:  696 (type unknown).   1 inquiry (Comcast) from October.  1 collection account

Short summary:  Student loan lender tranasferred my account, hence the 1 closed acct and 1 open.  My first credit card from when I was young and stupid was originally a WaMu (bought by Chase, so shows as Chase of course) with a last payment date of 7/29/08.  Then there's the attached collection account from this.  Presumably both of these will be disappear within the next couple of weeks since Experian is not showing them.  

I cannot explain why Experian doesn't show my ACTIVE student loan but I imagine that'll fix itself since hte transfer was just last month.  


So, on to the question: 


Here's the question I have:  I'm going to be applying for a credit card soon to start building more credit, and I conceptually like the idea of getting the Chase Freedom card over the Capital One Quicksilver One (which I seem to be prequalified for)… but even if I wait until after all of my CRs are not showing the Chase account, do I have to worry about any sort of internal flag in Chase's system that might get me denied anyway?  

I'm not married to the idea of a Chase card, so I'm more than open to suggestions and discussion on the subject. 

Thanks in advance for your help! 

[Anonymous]

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@Anonymous wrote:

Hey all, 

Background first - 

After several long years of rebuilding and waiting patiently for my previous transgressions to drop off of my credit record, I'm nearing the end of the process.  I currently have the following on my credit reports: 

Experian:  FICO 720, 1 inq from 8/26/2013, no other accounts showing, no negative items.  

Transunion:  669 Vantage. No inquiries. One active installment account paying on time as agreed (rehabilitated student loan) , one closed installment account (transfer of said student loan, no negative status).  1 derog revolve, 1 collection.  

Equifax:  696 (type unknown).   1 inquiry (Comcast) from October.  1 collection account

Short summary:  Student loan lender tranasferred my account, hence the 1 closed acct and 1 open.  My first credit card from when I was young and stupid was originally a WaMu (bought by Chase, so shows as Chase of course) with a last payment date of 7/29/08.  Then there's the attached collection account from this.  Presumably both of these will be disappear within the next couple of weeks since Experian is not showing them.  

I cannot explain why Experian doesn't show my ACTIVE student loan but I imagine that'll fix itself since hte transfer was just last month.  


So, on to the question: 


Here's the question I have:  I'm going to be applying for a credit card soon to start building more credit, and I conceptually like the idea of getting the Chase Freedom card over the Capital One Quicksilver One (which I seem to be prequalified for)… but even if I wait until after all of my CRs are not showing the Chase account, do I have to worry about any sort of internal flag in Chase's system that might get me denied anyway?  

I'm not married to the idea of a Chase card, so I'm more than open to suggestions and discussion on the subject. 

Thanks in advance for your help! 

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Welcome to the forums.

Absolutely have to worry about being on Chase's blacklist. Doesn't matter if the account shows in your reports or not.  They have a long memory, long after it drops off your reports.  Only way to know is to apply but without having any current credit card accounts I don't think your chances are great. Definitely look into Capital One by checking their pre approval site.  I'd start by applying with them and build your file for bit before even trying for Chase

[Anonymous]

Good to know! 

Does that mean I would also not want to try and open a checking and savings account with them?  I'm using a local CU currently and want to have a relationship with a national bank of some sort as well, and chase is both nearby and has convenient hours so they were my top prospect.   

[Anonymous]

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@Anonymous wrote:

Good to know! 

Does that mean I would also not want to try and open a checking and savings account with them?  I'm using a local CU currently and want to have a relationship with a national bank of some sort as well, and chase is both nearby and has convenient hours so they were my top prospect.   

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No, you can still do that.  You won't have any problem opening a checking/savings account t with them