Bad history with Chase but I want a Freedom UPDATE

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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aj023
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Re: Bad history with Chase but I want a Freedom UPDATE

Postby aj023 » Thu Jan 28, 2016 12:07 pm

Elijahmex wrote:
4ktvs wrote:
Elijahmex wrote:Denied!

I applied last Wednesday. After 8 days of waiting I called to get some info and turns out the bad history had nothing to do with the result but the lack of accounts opened. Quick reminder I will have 1 full year of credit history end of February, no loans only 1 Cap One Quicksilver account and FICO TU 736 EQ 728 and EX not sure since Chase pulled it.

Now I have 4 inquiries and only 1 CC on my report. Getting a little fed up tbh.


Sorry that happened, I know I would feel fed up if I had to take 4 hard inquires and only get one card out of it. You could try for the Amex EDP you wanted.


No I am not trying anything until end of February/beg March. By then I will have a full year of credit history, I am also due a CLI on the 5th and it will give me time to think about my next move. Also by then my CS will have moved forward a bit.


One person has over one thousand credit cards so 1 credit card is definitely not an issue and you can get more if you have excellent credit. If all the identity theft is off the bureau and you have perfect payment history and low utilization, you will need to wait six months since last inquiry and then you can reapply and get approved for the card you want. You need to make sure utilization is kept low on the existing account and bills are paid.

Banks will be making a lot of offerings to get you as a customer in the future.


Elijahmex
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Re: Bad history with Chase but I want a Freedom UPDATE

Postby Elijahmex » Thu Jan 28, 2016 1:02 pm

aj023 wrote:
One person has over one thousand credit cards so 1 credit card is definitely not an issue and you can get more if you have excellent credit. If all the identity theft is off the bureau and you have perfect payment history and low utilization, you will need to wait six months since last inquiry and then you can reapply and get approved for the card you want. You need to make sure utilization is kept low on the existing account and bills are paid.

Banks will be making a lot of offerings to get you as a customer in the future.


I am on top of everything.
The ID theft has been off my reports for months. Payment history is excellent. I PIF twice a month and by closing date my utilization is at about 5-10%. Right now it's at 16% and I will PIF tomorrow.
I make enough money to not rely on Credit so it's nothing that I absolutely need but something that I want. My CS keeps climbing up so I guess time will grant me my wishes.
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Tubpbs
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Re: Bad history with Chase but I want a Freedom UPDATE

Postby Tubpbs » Thu Jan 28, 2016 4:46 pm

Who supposedly has 1000 credit cards?
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

4ktvs
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Re: Bad history with Chase but I want a Freedom UPDATE

Postby 4ktvs » Thu Jan 28, 2016 6:39 pm

Elijahmex wrote:
aj023 wrote:
One person has over one thousand credit cards so 1 credit card is definitely not an issue and you can get more if you have excellent credit. If all the identity theft is off the bureau and you have perfect payment history and low utilization, you will need to wait six months since last inquiry and then you can reapply and get approved for the card you want. You need to make sure utilization is kept low on the existing account and bills are paid.

Banks will be making a lot of offerings to get you as a customer in the future.


I am on top of everything.
The ID theft has been off my reports for months. Payment history is excellent. I PIF twice a month and by closing date my utilization is at about 5-10%. Right now it's at 16% and I will PIF tomorrow.
I make enough money to not rely on Credit so it's nothing that I absolutely need but something that I want. My CS keeps climbing up so I guess time will grant me my wishes.


That is good and the fact you have the one well managed card should get you far.

I know the Chase CSR claimed the burn due to the ID theft had nothing to do with not getting the card, but I would recommend thinking about other options than Chase as they may have decided to hold it against you with out disclosing it. Just something to think about when considering a app for credit next time.

I think waiting until you have at lest that full year of credit history to apply for more credit is a wise choice.

aj023
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Re: Bad history with Chase but I want a Freedom UPDATE

Postby aj023 » Thu Jan 28, 2016 6:43 pm

4ktvs wrote:
Elijahmex wrote:
aj023 wrote:
One person has over one thousand credit cards so 1 credit card is definitely not an issue and you can get more if you have excellent credit. If all the identity theft is off the bureau and you have perfect payment history and low utilization, you will need to wait six months since last inquiry and then you can reapply and get approved for the card you want. You need to make sure utilization is kept low on the existing account and bills are paid.

Banks will be making a lot of offerings to get you as a customer in the future.


I am on top of everything.
The ID theft has been off my reports for months. Payment history is excellent. I PIF twice a month and by closing date my utilization is at about 5-10%. Right now it's at 16% and I will PIF tomorrow.
I make enough money to not rely on Credit so it's nothing that I absolutely need but something that I want. My CS keeps climbing up so I guess time will grant me my wishes.


That is good and the fact you have the one well managed card should get you far.

I know the Chase CSR claimed the burn due to the ID theft had nothing to do with not getting the card, but I would recommend thinking about other options than Chase as they may have decided to hold it against you with out disclosing it. Just something to think about when considering a app for credit next time.

I think waiting until you have at lest that full year of credit history to apply for more credit is a wise choice.


Chase doesn't know about it if its wiped off from credit report. They only review what is on credit report. Banks have people on staff who review credit histories in aggregate.

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CarefulBuilder14
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Re: Bad history with Chase but I want a Freedom UPDATE

Postby CarefulBuilder14 » Thu Jan 28, 2016 7:11 pm

aj023 wrote:Chase doesn't know about it if its wiped off from credit report. They only review what is on credit report. Banks have people on staff who review credit histories in aggregate.

This is false. Some banks (particularly Amex and Chase) use internal records that can go back much further than a credit report. There can be errors in the records, of course.

Whether the old fraudulent history was a "secret consideration" that Chase wrongly held against you or not, I don't know. But Chase will very likely still have a record of the account.
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

aj023
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Re: Bad history with Chase but I want a Freedom UPDATE

Postby aj023 » Thu Jan 28, 2016 7:30 pm

CarefulBuilder14 wrote:
aj023 wrote:Chase doesn't know about it if its wiped off from credit report. They only review what is on credit report. Banks have people on staff who review credit histories in aggregate.

This is false. Some banks (particularly Amex and Chase) use internal records that can go back much further than a credit report. There can be errors in the records, of course.

Whether the old fraudulent history was a "secret consideration" that Chase wrongly held against you or not, I don't know. But Chase will very likely still have a record of the account.


The day you get a Chase credit card account it is recorded on the credit report for payment history and high and low balances and the like. It is the same information they have on record. There is no internal record that predates having a credit account which immediately after the month is up gets reported to the bureau. If it is off the bureau then it is not being used in the credit reconsideration process.

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CarefulBuilder14
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Re: Bad history with Chase but I want a Freedom UPDATE

Postby CarefulBuilder14 » Thu Jan 28, 2016 9:01 pm

aj023 wrote:The day you get a Chase credit card account it is recorded on the credit report for payment history and high and low balances and the like. It is the same information they have on record. There is no internal record that predates having a credit account which immediately after the month is up gets reported to the bureau. If it is off the bureau then it is not being used in the credit reconsideration process.

Just to be clear, you're saying that if I were to default on $30k of debt with Amex and Chase and they closed my accounts later in 2016, you think neither bank would have any recollection of it at all by 2024? *Actually, depending on how it was reported, 2027 might be a more relevant date. But the point remains that banks still have longer memories.*

If that's what you're saying, I can dig up examples of banks having a longer memory. What you're saying is simply absurd.
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

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CarefulBuilder14
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Re: Bad history with Chase but I want a Freedom UPDATE

Postby CarefulBuilder14 » Thu Jan 28, 2016 9:24 pm

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

Elijahmex
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Re: Bad history with Chase but I want a Freedom UPDATE

Postby Elijahmex » Fri Jan 29, 2016 3:57 am

4ktvs wrote:
Elijahmex wrote:
aj023 wrote:
One person has over one thousand credit cards so 1 credit card is definitely not an issue and you can get more if you have excellent credit. If all the identity theft is off the bureau and you have perfect payment history and low utilization, you will need to wait six months since last inquiry and then you can reapply and get approved for the card you want. You need to make sure utilization is kept low on the existing account and bills are paid.

Banks will be making a lot of offerings to get you as a customer in the future.


I am on top of everything.
The ID theft has been off my reports for months. Payment history is excellent. I PIF twice a month and by closing date my utilization is at about 5-10%. Right now it's at 16% and I will PIF tomorrow.
I make enough money to not rely on Credit so it's nothing that I absolutely need but something that I want. My CS keeps climbing up so I guess time will grant me my wishes.


That is good and the fact you have the one well managed card should get you far.

I know the Chase CSR claimed the burn due to the ID theft had nothing to do with not getting the card, but I would recommend thinking about other options than Chase as they may have decided to hold it against you with out disclosing it. Just something to think about when considering a app for credit next time.

I think waiting until you have at lest that full year of credit history to apply for more credit is a wise choice.


You might be right.
I called after 7 days and it was still under review. The next day they came up with the decision. The fact that it took 8 days leads me to believe that they're holding a grudge even after I pleaded my case in good faith.

What kind of bank takes 8 days to only come up with "lack of accounts opened in the last year"?
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