Denied CLI on my Chase Amazon..clueless as to why

For just about anything you want to get off your chest about credit cards.
12 posts
maynard
 
Posts: 2
Joined: Sat Sep 20, 2014 2:10 am
Location: TN

Denied CLI on my Chase Amazon..clueless as to why

Postby maynard » Sat Sep 20, 2014 2:14 am

I have had this card since 2010 and it has always been at a 400 dollar limit.
I have a capital one card at 1k(700 balance), a dell at 3k(no balance), and a walmart card at 2.4k(500 balance).

My chase card has no balance and has always been paid on time. I have had a credit card since I was 18, am 27 now. And my credit score is 757 according to transunion.

Why on earth and I being denied?


randeman
Centurion Member
Centurion Member
 
Posts: 188
Joined: Tue Jan 10, 2012 7:11 pm
Location: New York, NY

Postby randeman » Sun Sep 21, 2014 10:05 am

What did the denial letter say?
Cards and Credit lines Acquired:

Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).

popamode72
Centurion Member
Centurion Member
 
Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Sun Sep 21, 2014 10:44 am

That sucks but maybe since you've had such a long history with Chase that it's time to perhaps apply for a better card from Chase and then move the limit of your Chase Amazon Visa over to the new card.

You might have better luck with that. Recently someone on this forum was able to get a Chase Sapphire Preferred even when being denied for CLIs with them in the past.

I also think you should try getting the balance on your CapOne card down first. It's pretty high considering what the limit on it is. I think that might have also contributed to the decline.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sun Sep 21, 2014 11:51 am

They have to tell you why. Call up their analysts number (NOT the regular customer service number as they are clueless and will have nothing useful to tell you) and talk with an analyst. Point out what you wrote here, give them a compelling reason as to why you want a CLI (after all you took the inquiry or inquries for it) such as that limit does not allow you to use the card the way you would like as it's too low and you have to make multiple payments per month on it (this is great especially if you have been doing this) and you'd prefer a larger limit that would let you use it more. A 400 limit for having it 4 years with a decent score is a head scratcher to me, so I'm curious what their reason is. There must be one and you have the right to know it, and maybe you can recon a higher limit in the process.

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3754
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Sun Sep 21, 2014 4:39 pm

Regardless of what Chase says, no prime issuer likes to see a card with 70% utilization. I get that it's only $700, but most issuers will still see that as a negative.

Did you ask for a specific dollar amount for the new CL? What income did you report?
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

User avatar
lobbythis
Centurion Member
Centurion Member
 
Posts: 618
Joined: Sun Sep 07, 2014 8:53 pm
Location: usa

Postby lobbythis » Sun Sep 21, 2014 6:28 pm

That high utilization will kill you. I didn't realize how bad until I applied for some new cards and CLI's on current cards and a number of them simply stated high balances as being the denial reason. After that nonsense, I just zeroed out everything I have and now plan on keeping everything around 10%.

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sun Sep 21, 2014 8:29 pm

According to my math he's only at 22% overall utilization. Most of that is one card, but never the less, only a true hardcore MyFICO fanatic could consider what he has to be a massive utilization problem.


I'd just ask them and go from there and recon it and turn lemons into lemonade.

popamode72
Centurion Member
Centurion Member
 
Posts: 1099
Joined: Sun May 04, 2014 4:41 pm
Location: Atlanta, GA

Postby popamode72 » Sun Sep 21, 2014 8:57 pm

MemberSince99 wrote:According to my math he's only at 22% overall utilization. Most of that is one card, but never the less, only a true hardcore MyFICO fanatic could consider what he has to be a massive utilization problem.


I'd just ask them and go from there and recon it and turn lemons into lemonade.


I've always wondered if lenders tend to care more about overall utilization than they do about utilization on individual cards. Perhaps the OP can hammer that point in that he's been responsible with his credit and that he'll probably try to get the CapOne balance lower soon or something like that.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Mon Sep 22, 2014 10:47 am

randeman wrote:What did the denial letter say?

^ This. Start there. Or call recon and find out why.

MemberSince99 wrote:Most of that is one card, but never the less, only a true hardcore MyFICO fanatic could consider what he has to be a massive utilization problem.

I can't speak to the magnitude of the issue but 70% utilization on a card certainly doesn't help.

maynard wrote:Why on earth and I being denied?

Well, for one thing it is Chase. It's sometimes just easier to apply for a new card with them. Chase has given my wife several CLI's. YMMV.

popamode72 wrote:I've always wondered if lenders tend to care more about overall utilization than they do about utilization on individual cards.

Creditors aren't all identical so it really depends on the specific creditor.

maynard
 
Posts: 2
Joined: Sat Sep 20, 2014 2:10 am
Location: TN

Postby maynard » Wed Sep 24, 2014 10:52 pm

CarefulBuilder14 wrote:Regardless of what Chase says, no prime issuer likes to see a card with 70% utilization. I get that it's only $700, but most issuers will still see that as a negative.

Did you ask for a specific dollar amount for the new CL? What income did you report?

Asked for 1.5k..reported 20k income. I've already paid a few hundred to get the capital one down. Gonna call the credit analyst tomorrow and see.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests