Getting Back With Chase After Charge Off...How?

[Repairman]

I am over a year into my credit repair journey and have seen large jumps in my score by paying down all my balances to zero, gaining new credit and paying on time, and keeping my utilization low. My question now is regarding Chase and how I should/can proceed with them after they closed 2 of my Chase accounts last year.

1st, let me note that I currently have both a checking and savings accounts with Chase, and have so for about 8 years. Up until last year, I also had 2 Slate credit cards with them.

Last year, the 1st Chase cc was a ChargeOff. After Chase charged the account off, I continued to pay it, for several months until it was completely paid in full, however, even after it was charged off, Chase continued to report it as late payments/past due. As it stands, Chase is indicating on my Credit Report that my account is 120+ days past due for 14 times, all the way up until the date I finished paying it off completely.

As for my 2nd Chase cc, Chase unexpectedly closed my 2nd cc account with them once they charged off the other one, and immediately started reporting that one as late. I have since also paid that in full.

All of my outstanding Chase debt was paid down to zero, as of September of last year when I paid my charge off balance in full, directly to Chase of a little over $4500.

I fell into hard times with AMEX too, and they have been great in giving me an Optima rebuilder card which helped me in my journey. Does Chase offer any similar type of rebuilder options?

All my debt has been paid with Chase. My question now is, what is my best course of action and chances of getting another cc with Chase? While the derogs are still obviously on my report, my scores, utilization grade, and available credit have all skyrocketed from the time my Chase accounts were charged off. My score has jumped 163 points, my available credit has gone from $700 to $30,000 and my utilization has gone all the way down to 2%.

I'm interested in getting the Amazon Visa from Chase and want advice on the best way to attain my goal. Should I just apply? Should I wait? How long should I wait? Should I Goodwill? Should I online chat? Should I stop by a branch and speak with a specialist? I really want to show them I have learned from my mistakes, have made enormous strides, and have become so much improved with managing my finances. Is there any chance of me getting approved any time soon?

All advice and assistance is greatly appreciated. Thanks.

[Anonymous]

I would advise against applying, as it may result in a futile inquiry. I had two CO's with chase from 2009. Both have been paid, credit has been cleaned up significantly. Chase declined my app last year for a new CC. I called the backdoor number, provided an explanation and asked for reconsideration. They again declined the app due to a past "derogatory relationship with chase." Oh well, so much for that. I politely thanked them for their time and never considered them again. One wasted inquiry on my EX report . After giving up on Chase I obtained a Discover card and they have been great; that is my new go-to card. Started at $1,100 and have been increased to $4,600 since July of 2014 !

Good luck in whichever route you take.

[Anonymous]

As long as you didn't stiff them any cash, you should be good to go in a few years once you're farther away from the CO's. Chase is slow to forgive from what I've read.

[tomfromrictmame]

My experience with Chase is they will certainly blacklist you.  I settled a debt with them 4 years ago (paid 80%) and have been unable to get back in with them.  I have spoken with the office of the CEO, but no dice.  This falls off my CRs in December so I will try again after the first of the year.  That will be my final attempt with them.

[Callandra]

Chase is probably one of the worst banks to burn as they have a long memory and good sign-up bonuses that will be hard to get once you burn them. Paying them off is good but it might take some time before they give you another chance. One year is probably not enough time.

If you want the Amazon Visa, would you consider the Sallie Mae MC from Barclays instead? Most Amazon purchases will yield you 5% cash back up to $750/month (exceptions being Amazon Prime membership and possibly others). Another option is to get the Amazon store card with a Prime membership for 5% back. Good luck with whatever you decide to do. 

[tomfromrictmame]

I should also mention I have offered to pay off the amount they wrote off (20%).  They originally (last year) told me they would not change their reporting if I did.  I asked again a few months ago and they now tell me they can't take any payment on the account.  Go figure.

[gdale6]

You can pretty much write off Chase for a new card until their COs are no longer on your report, this is the way they work.

[Repairman]

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@Anonymous wrote:

 I had two CO's with chase from 2009. Both have been paid, credit has been cleaned up significantly. 

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How did you pay the charge off's? Were they paid directly to Chase? In a payment plan? 1 lump sum? To a creditor? And/or was it settled for less than owed? Also, what dis your scores look like at the time of reapplying?

[Repairman]

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@Anonymous wrote:

As long as you didn't stiff them any cash, you should be good to go in a few years once you're farther away from the CO's. Chase is slow to forgive from what I've read.

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Yea, that's what I've heard too, unfortunately. But I'm wondering if my relationship with their banking side could serve as any type of pro.

[Repairman]

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@Anonymous wrote:

 I had two CO's with chase from 2009. Both have been paid, 

Also, how long after the accounts charged off did you pay?

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