Just got denied for Chase Freedom

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
23 posts
CC Deville
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Postby CC Deville » Wed Dec 14, 2011 7:53 pm

HStarks wrote: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?


That makes sense then. I would suggest not applying for anything else until that mystery account is removed.

Travel rewards? Well, that depends on what kind of travel. These days there are cards for everthing, cruise lines, airlines etc. The Capital One Venture One and Venture cards offer pretty good flexible airline miles as there are no blackouts and you can use the points for any airline (yes, I said not to apply for another Cap One, but Venture One and Venture are prime cards-don't apply for any of their starter or rebuilder cards). The Chase Sapphire and Citibank Thank You cards also offer flexible travel rewards.


DoingHomework
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Postby DoingHomework » Thu Dec 15, 2011 1:53 pm

HStarks wrote: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?


It would take a lot of inquiries to drop your score to 640.

That account in collections is the problem. How exactly are you going to get that removed?

Remember, it is YOUR responsibility to pay your debts. It is not your creditors' responsibility to track you down and try to collect when you fail to pay. No knowing about an account in collections is not an excuse. If anything it is evidence that you are NOT a good credit risk.

As for how long to wait, you need to wait at least 2 years from your last inquiry for them to drop off. Waiting until "later in 2012" is just going to keep the problem going.

Be happy that you still have a card. Get the collections paid off and use your existing card responsibly until at least December 2013, or 2 years after you get the collection cleared up whichever is later. Only then try to apply for something new or ask for a CL increase.

Moneytalks
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Postby Moneytalks » Thu Feb 09, 2012 6:37 pm

I applied for Sapphire card, and got denied because of the same "insufficient income" garbage, so I said, "Ok thanks Chase, you lost a customer..." So a few months later, went to Amex, got accepted for the Green card and now I'm happier than ever! Amex has my unconditional customer loyalty now and so far so good. Sorry about my rant... essentially, go for an Amex card :) (Zync or Green, etc)
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)



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