Is chase easy?

[BillyJean]

Recently I got approved for a CSP and I was shocked because I always deemed my credit to be pretty bad like 550 range, so last week I ran my report with all three and had about 650 across the board and got CSP with 5k limit and was so happy.  I do have chase checking for past three years so that is the only thing I can think helped. That day I tried to get a paypal mastercard just to test the waters and was instant denied.  Today I got my letter why and it shows my score at a 560 with good reason, I have a public record and over 5 closed paid as agreed and no active credit. 

Now the public record should drop off in the next few months but now I'm afraid to apply for any cards because I am guessing my credit report scores are actully not true.  My strategy was in 6 months try to get an increase then apply for chase freedom and every six months get a new card.  Now I am thinking I need a secured card and just give up on other cards and be happy that I even got the CSP.

[shane82388]

Even at 650 you should be happy you got the CSP...especially with $5k limit. I'd not be applying unless you can confirm your in the 650+ range and don't apply for anything for a while anyway...

[isilon01]

I think Chase has their own risk assessment system that they use as a decision factor.  The reason I say that is because I too was in the same boat as you -- had just gotten out of a rough financial situation and was in the process of rebuilding my credit and my score I still don't think deserved the $25k CL that Chase approved me for.  The only thing I can think of that could've helped my case was my 6 mo old Chase checking acct with a significant fund (> 4x the approved CL).  I had a Wells Fargo visa and a Cap1 MC prior to Chase United but nowhere near the Chase limit.  

[BillyJean]

Yeah I'm not, just going to try to get an increase in 6 months as i spend about 3k a month and can pay it off in full.  But I pulled my credit from all three and I thought i was in 650 range thats what all three said. 

[shane82388]

That's very strange you scores are mismatching so much...I'd go by what myfico.com says for credit scores...anything else is a fako or an internal/alternate scoring system which is pretty tough to know much about...

[Anonymous]

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@shane82388 wrote:
That's very strange you scores are mismatching so much...I'd go by what myfico.com says for credit scores...anything else is a fako or an internal/alternate scoring system which is pretty tough to know much about...

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Right, but the problem being it is whatever the lender is using that matters when trying to get credit!

[SnackTrader]

I bet there were different reports pulled. One probably shows a baddie, another probably doesn't.

Which reports were pulled? EQ, TU, EX?

[shane82388]

Right but if you can't even know what you internal score is you can't do much about it besides try to improve you FICOs and use that as a measuring stick of improvement...

[GlocksAndCredit]

Agreed with all pervious posts and will add......... YMMV

[KIPPIE12]

Something else to consider if scores are mismatching with FICO/FAKO scores, is that the approval or denial letter will list a different score meaning that issuers use a bankcard enhanced scoring system, usually showing a higher score than what you are seeing.  Also, auto financing will usually result in an auto enhanced score