Relatively new and need advice

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Joined: Thu Mar 14, 2013 4:56 pm
Location: Los Angeles, CA

Relatively new and need advice

Postby rdubs23 » Thu Mar 14, 2013 5:25 pm

Hello everyone,

I've been browsing this site for the past few days as I've had some questions regarding my own credit cards. I'm 22 and still relatively new, I currently have two cards:

Chase Freedom ($400 limit)
US Bank College Visa ($800 limit)

I stupidly got the US Bank Card when I was in college and had little to no income, I had banked w/ USBank for quite awhile and I was pre-approved, sounded like a good idea at the time. I carried a balance higher than I should have been but still always made my payments on time. I recently moved to California, and due to US Bank's being more scarce around here, I switched my checking and savings over to Chase as well. I was told I qualified for the Freedom Card and figured I would take it and pay off my US Bank College Visa and only use it for a small purchase here and there.

I have been banking with Chase and have had the Freedom for roughly 5 months, I do not pay in full every month, but I do pay approx. $150 a week to keep the balance low (I am paid weekly). I have inquired w/ Chase about a month ago for a Credit Line Increase and was declined, I do not want to inquire again for fear of having too many inquiries in a short period of time.

I also have a car loan and student loans, both of which are co-signed by my parents. I am having trouble understanding why I was declined. I have a solid income (40k + commission) and my girlfriend, who makes about half of that, recently had her Chase Freedom increased from $1000 to $2500 and was also approved for the Slate from Chase w/ a $3500 CL. She has banked with Chase for almost 2 years.

Any idea what the issue may be? Is it due to the fact that I do not have much history with Chase? Is it because I carried a high balance on my US Bank card for too long, despite never missing a payment? I have since paid that USBank card off and rarely, if ever, actually use it.

Thanks in advance for your help!

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