Chase Reconsideration Line: What's The Best Strategy

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Chase Reconsideration Line: What's The Best Strategy

Postby logan|20 » Fri Feb 03, 2012 12:27 am

I recently applied for an array for new cards to replace my lower tier cards, such as my Capital One Journey card that CapOne refuses to increase. I applied for a Chase Slate because the sign on bonus of 0% APR for 15 months, as well as 0% for balance transfer was intriguing. I also wanted to establish a relationship with Chase.

Surprisingly I was denied because I had had, "too many requests for credit." I figure this is something easy to recon considering my FICO is in a great place. All I need is some help on what to say when I get on the line...Suggestions?
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Postby PlatinumAMEX94 » Fri Feb 03, 2012 2:24 am

logan|20 wrote:I recently applied for an array for new cards

There is your first problem. Applying for a lot of credit cards throws up red flags to creditors. Most people only apply to ONE card, after they figured out which one they want to use. If you want a Chase card, you need a Chase checking account, and a savings account so they can see your cash flow and show you are responsible. After you have those established, wait 2 years for all those credit inquires to come off your credit reports, and THEN apply for a Chase card.

Just because you have a high credit score doesn't mean you show responsibility A credit score is a snapshot of how you are doing now. As many people know, one mistake and you can easily drop a hundred points or more. So a high credit score doesn't always mean a lot. I have a friend who was sitting over 800, had to do a short sale and now is cruising with the bottom feeders for credit card mailers. Here today, gone tomorrow.
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