What Do I Do???

[pip3man]

Earlier on this month, I had applied for a Chase Freedom and Discover It card that were both declined even after recon. I remember the analyst said something like I would get a letter from them explaining the specific reasons for the denial. Well I got the letters and they cite "high utilization and charge off" as the reasons for denial. And the letter from Chase also states that if corrections are made on my CR I can always call them back to have them reevaluate my application. Well good enough the only negative which was a BOA charge off was eventually reversed and as for my utilization I brought it down from over 100% to 7% at the moment. This payment should be reported any time from now. I have 2 INQ on EX, 1 EQ and 4 TU. No lates/negatives at all and 3/4 years of history. Now my question is this - since I applied for both cards less than a month and was able to address the reasons for denial, do I call them to reconsider the initial app again or do I just submit an entirely new application? I'm not sure of what to do because it's not even up to 30days ago they denied me but I have corrected all the issues since then. Btw the credit score in the letter as of when I applied was 566 (with the CO & high utilization reporting) but right now I should be sitting in the 720-730s once my utilization updates in a few days. The BOA charge off alone that was reversed took me from 566 to 690.... so what are your thoughts? Thanks

[B335is]

If your CR updates within the 30 day window for Chase absolutely I would ask for another recon, it will most likely require another hard pull.

Discover may require you to just wait 45 days (if I remember correctly) and reapply.

Congrats on cleaning up your CR.

[pip3man]

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@B335is wrote:
If your CR updates within the 30 day window for Chase absolutely I would ask for another recon, it will most likely require another hard pull.

Discover may require you to just wait 45 days (if I remember correctly) and reapply.

Congrats on cleaning up your CR.

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Thanks for your input... kinda sucks I gotta wait that long for Discover cos in fact that's the card I really care much about than the Freedom. Oh well I'll see how it all rolls out... thanks again

[B335is]

Have you considered Barclays Sallie Mae? They will pull TU, 5% back on gas ($250 limit per month) and its not a rotating category like Discover and Chase Freedom.

[pip3man]

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@B335is wrote:
Have you considered Barclays Sallie Mae? They will pull TU, 5% back on gas ($250 limit per month) and its not a rotating category like Discover and Chase Freedom.

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Talk about Barclays, as a matter of fact it was one of the cards I applied for same time I went for the Freedom and It card. You bet it was declined as well even after recon... I have my reservation bout 'em cos I heard they AA and keep monitoring every step u move credit wise after u open an account with them. I'll look into the Sallie Mae card although the one I applied for was the Arrival I think.

[takeshi74]

Verify your balances have reported first.

[pip3man]

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@takeshi74 wrote:

Verify your balances have reported first.

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Good suggestion. Already called them... they said my statement cuts tomorrow and it'll be reported at the same time.

[Kenny]

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@pip3man wrote:

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@takeshi74 wrote:

Verify your balances have reported first.

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Good suggestion. Already called them... they said my statement cuts tomorrow and it'll be reported at the same time.

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They mean on your reports... (not what the CC company tells you.)

[pip3man]

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@KennyRS wrote:

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@pip3man wrote:

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@takeshi74 wrote:

Verify your balances have reported first.

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Good suggestion. Already called them... they said my statement cuts tomorrow and it'll be reported at the same time.

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They mean on your reports... (not what the CC company tells you.)

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Huh?! I didn't catch that... imma a lil slow today?!

[Kenny]

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@pip3man wrote:

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@KennyRS wrote:

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@pip3man wrote:

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@takeshi74 wrote:

Verify your balances have reported first.

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Good suggestion. Already called them... they said my statement cuts tomorrow and it'll be reported at the same time.

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They mean on your reports... (not what the CC company tells you.)

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Huh?! I didn't catch that... imma a lil slow today?!

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It's ok.. I'm slow everyday