Chase credit card application was declined, need advice?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
432521
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Postby 432521 » Sun Apr 29, 2012 2:56 pm

Man that is really weird. I guess its because you don't have your own credit card besides the two authorized ones. I personally have one credit card and its my wellsfargo college credit card and I've had it for a year so I guessed that helped a little. When you called the backdoor number did you tell the rep that you would be willing to have a low credit limit like 500 if that meant that they would approve you?
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday


Moneytalks
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Postby Moneytalks » Sun Apr 29, 2012 3:54 pm

432521 wrote:Man that is really weird. I guess its because you don't have your own credit card besides the two authorized ones. I personally have one credit card and its my wellsfargo college credit card and I've had it for a year so I guessed that helped a little. When you called the backdoor number did you tell the rep that you would be willing to have a low credit limit like 500 if that meant that they would approve you?


I got denied from chase as well, but I must say, I'm very content with a Green Amex, so I guess everything works out haha. Good luck with Capital One, use it well!
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

2010drive
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Postby 2010drive » Sun Apr 29, 2012 5:43 pm

432521 wrote:Man that is really weird. I guess its because you don't have your own credit card besides the two authorized ones. I personally have one credit card and its my Wells Fargo college credit card and I've had it for a year so I guessed that helped a little. When you called the backdoor number did you tell the rep that you would be willing to have a low credit limit like 500 if that meant that they would approve you?


Yup, I even asked for a $500 limit and they still said no. I'll call again tomorrow just to make sure they know my income is $24,000 and not $2,400
April 2012 - Capital One Cash Rewards: $2000

August 2012 - Chase Freedom: $3000

JCarter
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Postby JCarter » Mon Apr 30, 2012 11:08 pm

2010drive wrote:Yes, I am sure I put $24,000. I went into the chase branch and they said they still can't approve me. They also don't do secured loans under 5K. So I left, and went home to apply for a CapitalOne Cash Rewards and got instantly approved with a 2K limit :cool: Hopefully this will be a good start for building my credit so I can go back and get the Chase Freedom card at the end of the year ;)



The CARD act should be requiring a someone to co-sign for your card. You meant a secured "card" not a secured "loan" correct?

2010drive
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Postby 2010drive » Tue May 01, 2012 1:25 pm

JCarter wrote:The CARD act should be requiring a someone to co-sign for your card. You meant a secured "card" not a secured "loan" correct?



No, I mean't a secured loan. I don't want to deal with having to put money on a card to use it. CapitalOne did not make anyone co-sign :confused:
April 2012 - Capital One Cash Rewards: $2000



August 2012 - Chase Freedom: $3000

432521
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Postby 432521 » Tue May 01, 2012 1:35 pm

Does the Card act require a co-signer when you sign up for credit cards when you are younger than 21? I didn't have a cosigner for my wellsfargo college card last year when I was 19 and I just signed up for the freedom;still 19 years old; and didn't need a cosigner either.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

Moneytalks
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Postby Moneytalks » Tue May 01, 2012 5:35 pm

432521 wrote:Does the Card act require a co-signer when you sign up for credit cards when you are younger than 21? I didn't have a cosigner for my wellsfargo college card last year when I was 19 and I just signed up for the freedom;still 19 years old; and didn't need a cosigner either.


When I got my Citi Dividend for college students, it said before I applied "no cosigner needed"...and then when I applied for my Amex, I was 20, so I think as long as you're over 18, you don't need the cosigner.
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

creditkid
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Postby creditkid » Thu Jun 28, 2012 10:38 pm

The CARD Act only requires cosigners for people with no credit history and or no stated income. Basically if you don't have a job or any credit you wont be able to get approved for $5-8k limits off the bat, like in the 2000's.
In the end the CARD Act acts as a speed bump for people with bad to no credit/income. It makes us start with lower, more manageable, limits.

bernhardtra
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Postby bernhardtra » Tue Jul 17, 2012 11:02 am

2010drive wrote:Yes, I am sure I put $24,000. I went into the chase branch and they said they still can't approve me. They also don't do secured loans under 5K. So I left, and went home to apply for a CapitalOne Cash Rewards and got instantly approved with a 2K limit :cool: Hopefully this will be a good start for building my credit so I can go back and get the Chase Freedom card at the end of the year ;)


Is that the card with the $39 Annual Fee? If so you might regret it later. CapOne is not known for credit limit increases on their Annual Fee and other low tier products. It seems once you classified by them in the low tier, you stay there.
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lucasoil4u
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Postby lucasoil4u » Tue Jul 17, 2012 11:11 am

Good luck with Capital 1. If you use them they will take care of you. If you let the card sit and never use it then they dont seem to care about you. either way best of luck!!! :beat:



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