Just got denied for Chase Freedom

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stacks
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Postby stacks » Wed Aug 31, 2011 9:01 am

Just got done talking with a Chase rep. The only info he gave me was a po box address to send a copy of my credit report and income information to be reconsidered for approval. Is this standard procedure or is there supposed to be a number I can call to be reconsidered over the phone?


stacks
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Postby stacks » Wed Aug 31, 2011 10:16 am

stacks wrote:at 18+/hr I'm pretty sure my wage converts to more than that on an annual scale. I have a student bank of america card($5,000 limit) that I've had since I was 18 and only use for a netflix subscription and a Navy Federal Credit Union Cash rewards card ($10,000) that I use for most everything else. Had that one for a little over 6 months. I make sure to never pay interest and just rack up bonus cash but I'd like to get a better rewards card. The $200 bonus that they advertise on the chase freedom card was pretty appealing to me as well.

The credit limit on my Navy Federal Cash Rewards card is actually $13,000. Just now realizing my mistake.

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Postby zapper_89 » Wed Aug 31, 2011 3:30 pm

stacks wrote:Just got done talking with a Chase rep. The only info he gave me was a po box address to send a copy of my credit report and income information to be reconsidered for approval. Is this standard procedure or is there supposed to be a number I can call to be reconsidered over the phone?


That sounds super fishy, even if it is legitimate I wouldn't send personal info to a PO Box.

Chase: 888-270-2127 (App recon)
Chase: (Credit Analyst - Recons)
Chase: 888-622-7547 (Chase Executive Ofc. in IL)
Chase: 800-955-9900 (Product change status questions)

stacks
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Postby stacks » Wed Aug 31, 2011 4:33 pm

^^ I appreciate the info. Just got off the phone with a chase representative and it turns out that I put on the application that I grossed around $3800 instead of $38,000. I feel like an idiot now but am glad that I'm now approved on a limit of $3,000. Thanks everyone for the help.

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Freedom Card Experts

Postby HStarks » Sat Dec 10, 2011 12:11 am

Hi All!

I recently applied for the Freedom card and was denied. I came on here and found the recon app (backdoor number) and they said they were unable to approve me. I am looking for advice on where to go next. My score is about 588, I have a Best Buy account with a balance, Chase Rep mentioned I had over 5 inquires.

I would really like this card, seemed like a great deal and I already have the inquiry on my report. I read around the forums a few times to be persistent, do you think in my case I should continue calling the recon number or should I wait and get rid of the balance on my BB account 1st.

ivotedale
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Postby ivotedale » Sat Dec 10, 2011 7:27 pm

I'm not too sure what the ideal FICO score required for the Chase Freedom, though I think yours may be a bit low on the scale for this card. Depending on how large/small your balance on the Best Buy card is, it could be a factor; pay it all off.

The Freedom was my third credit card; I'm not sure what your other credit history is, though I don't think it's necessarily for someone immediately new to credit if that's the case. Otherwise, I'd focus on paying off your current card(s) in full, as well as preferably not carrying any type of balances long-term.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF

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Postby CC Deville » Sun Dec 11, 2011 8:46 pm

HStarks wrote:Hi All!

I recently applied for the Freedom card and was denied. My score is about 588, I have a Best Buy account with a balance, Chase Rep mentioned I had over 5 inquires.

I read around the forums a few times to be persistent, do you think in my case I should continue calling the recon number or should I wait and get rid of the balance on my BB account 1st.


You have a 588? Is your Best Buy a store card or the MasterCard? Chase is a Prime bank, do not waste anymore inquiries on prime banks (Chase, BofA, Citibank, US Bank, Wells Fargo etc) until you are in the mid 600s because you will be declined. And with these banks there is no negotiating or reconning with a 588 score (unless they offer you a secured card-and most prime banks will not offer a secured card if you have a previous bky or previous charge off with them or any of their historical/acquired banks). To my knowledge, Chase does not offer a secured card.

There must be a reason for your score: charge offs, bankruptcy, foreclosure etc. You need to work on clearing those up before attempting to get such high level cards.

Your best bet at this point is to try for a Capital One card or Orchard Bank (HSBC) card. Otherwise, look into some secured cards.

I don't want to sound harsh, but credit is a privilege that is earned. For whatever reason, your score is in the toilet. So you need to expect some time and hard work to get the cards other people have worked hard to get.

HStarks
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Postby HStarks » Mon Dec 12, 2011 2:14 am

CC Deville wrote:You have a 588? Is your Best Buy a store card or the MasterCard? Chase is a Prime bank, do not waste anymore inquiries on prime banks (Chase, BofA, Citibank, US Bank, Wells Fargo etc) until you are in the mid 600s because you will be declined. And with these banks there is no negotiating or reconning with a 588 score (unless they offer you a secured card-and most prime banks will not offer a secured card if you have a previous bky or previous charge off with them or any of their historical/acquired banks). To my knowledge, Chase does not offer a secured card.

There must be a reason for your score: charge offs, bankruptcy, foreclosure etc. You need to work on clearing those up before attempting to get such high level cards.

Your best bet at this point is to try for a Capital One card or Orchard Bank (HSBC) card. Otherwise, look into some secured cards.

I don't want to sound harsh, but credit is a privilege that is earned. For whatever reason, your score is in the toilet. So you need to expect some time and hard work to get the cards other people have worked hard to get.


I have a BB Store card w/ 800 CL and balance of 500. I am just starting my credit, in college and wanted to start building my credit. I got a student card from Capital One w/ a very small CL and they sent me another one a week or so later about being pre approved should I apply for that one too? 0% Intro APR til Sept 2012 No Annual Fee and CL increase after 5 on time payments it is the Capital One Platinum Card.

CC Deville
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Postby CC Deville » Tue Dec 13, 2011 4:59 pm

HStarks wrote:I have a BB Store card w/ 800 CL and balance of 500. I am just starting my credit, in college and wanted to start building my credit. I got a student card from Capital One w/ a very small CL and they sent me another one a week or so later about being pre approved should I apply for that one too? 0% Intro APR til Sept 2012 No Annual Fee and CL increase after 5 on time payments it is the Capital One Platinum Card.


Hmmm. Even just starting out you should have a higher score than a 588. You do not have any negative information? I would check all three bureaus then to ensure that nothing is incorrect.

I would not open two Capital One cards. They give small toy credit limits and a lot of these rebuilder/starting out cards won't grow. I had the opposite experience but that was nearly 14 years ago now so things have apparently changed.

If you do not have any negative info on your bureau, I would suggest hanging tight for the time being. Get some experience on your Cap One Student card and let your Best Buy age. More than likely you will start getting offers from prime banks within a year. You stand a good change with being approved for a Citibank Forward or Platinum Select card at that time. Again, be sure that there is nothing wrong with your bureau, a 588 is a terrible score and one usually associated with charge offs, repos, bankruptcy or a combo of all three. Usually an 18-20 year old student with only a few accounts will still have a high 600 or low 700 score, just not with any length/history associated with it.

HStarks
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Postby HStarks » Wed Dec 14, 2011 7:32 am

CC Deville wrote:Hmmm. Even just starting out you should have a higher score than a 588. You do not have any negative information? I would check all three bureaus then to ensure that nothing is incorrect.

I would not open two Capital One cards. They give small toy credit limits and a lot of these rebuilder/starting out cards won't grow. I had the opposite experience but that was nearly 14 years ago now so things have apparently changed.

If you do not have any negative info on your bureau, I would suggest hanging tight for the time being. Get some experience on your Cap One Student card and let your Best Buy age. More than likely you will start getting offers from prime banks within a year. You stand a good change with being approved for a Citibank Forward or Platinum Select card at that time. Again, be sure that there is nothing wrong with your bureau, a 588 is a terrible score and one usually associated with charge offs, repos, bankruptcy or a combo of all three. Usually an 18-20 year old student with only a few accounts will still have a high 600 or low 700 score, just not with any length/history associated with it.


The inquires have dropped my score was about 640 in the summer and I found out a account which I had no idea existed went into collections. I am going to get that removed other than that nada. I will take your advice and sit on this one card and work on that maybe later in 2012 apply for a citi bank card. I was really looking for one that gives travel rewards any suggestions?



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