Chase credit card application was declined, need advice?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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2010drive
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Chase credit card application was declined, need advice?

Postby 2010drive » Wed Apr 25, 2012 5:15 pm

Here's my background...

I just turned 18 last month, I am an authorized user on 2 accounts both around 2 1/2 years old. One is a Shell card with a $500 limit that hasn't been used in over a year and the other is a Home Depot card with a $5000 limit that is used often. There has never been a late payment on either one. Current income is 24K per year with 1 year of job history.

  • I ran my Experian score on March 31st and it was a 741.
  • I applied for the Chase Freedom card on April 9th and did not get instant decision.
  • I just received my decline notice stating "Your credit report reflects to few revolving accounts". :mad:
What should I do now? Apply for a different card? Wait a while? :confused: I have a couple of bank accounts with Chase. One is around 10 years old the other around 5 years old. Would it be worth going into my local branch with my decline notice and talk with a banker about getting approved?

Thanks
April 2012 - Capital One Cash Rewards: $2000

August 2012 - Chase Freedom: $3000


Marcov719
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Postby Marcov719 » Thu Apr 26, 2012 4:01 am

I applied last night and also didn't get the instant approval. However, after calling their backdoor number?(1-888-270-2127), I was approved after some further questioning from a Chase rep. I was approved with 1000 limit. The reason for my denial was also for not enough revolving credit. I have a 200 limit Secured Credit Card with Capital One and American Express Green Charge card.

Regnohspf
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Postby Regnohspf » Thu Apr 26, 2012 9:18 am

like Marco said, best shot is to call them in and try to for a reconsideration. explain to them you have been banking with them for quite some time and that you have two bank accounts and have no problems with them and your interested now in opening up a credit card with YOUR bank and ask and see if they could help you out.

im surprised you got denied, you are basically where im at with income and such. but i only had my wells fargo card and a brand new zync when i applied for my chase freedom, and you have a bigger CL as well haha strange but good luck bud
Wells Fargo Student Credit Card Visa - $1300 (February 2011)
American Express Zync Charge Card (February 2012)
Chase Freedom Visa- $2000 5% rotating (April 2012)
Citi Forward Visa- $3000 - 5x at restaurants, amazon.com (April 2012)
Chase Sapphire Preferred Mastercard World Elite - $5000 (July 2012)

Credit cards left to attain
-Amex BCE/BCP


2010drive
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Postby 2010drive » Thu Apr 26, 2012 10:13 am

I called one of the backdoor numbers... the lady was pretty rude and just told me they are not going to approve me even for a low CL :mad:

Should I call the same number again or is there a different one?

I was very surprised I got declined considering my brother (22) who has half the income as me got approved with a 4K limit :confused: he does have a car loan in his credit history though.
April 2012 - Capital One Cash Rewards: $2000



August 2012 - Chase Freedom: $3000

432521
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Postby 432521 » Thu Apr 26, 2012 3:19 pm

I got denied to, but I called right when I got my rejection letter and luckily I got a really nice man. I explained why I thought I should be reconsidered and he was like okay you're approved.

Although it was only for 500 bucks I was good with that because I don't really need a big credit limit anyways cause I will probably only use like 100 a month anyways. Try calling back because I hear you will probably get approved by another person sooner or later. Just try to sound really responsible and not some kid trying to get as many credit cards as you can.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

CC Deville
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Postby CC Deville » Thu Apr 26, 2012 4:32 pm

So you have no accounts in your own name then? Just the two auth user accounts? Some banks will take the AU accounts as your own, others want to see history in your own name. Chase is a prime card issuer so they will have higher standards for approvals.

You can certainly call again and see if you can get a different rep or go in person to the Chase branch that holds your checking account and talk to a banker. It would be harder to dismiss you and be rude to you in person.

Otherwise, I would suggest a lower tier card like Capital One or even a Macy's card. Once you have had a card in your own name for 6 months you should be good to try again for a prime card. I would suggest Citibank or BofA over Chase though for the best chances of approval.

2010drive
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Postby 2010drive » Fri Apr 27, 2012 10:25 am

CC Deville wrote:So you have no accounts in your own name then? Just the two auth user accounts?


Correct...I called the number Marcov719 posted. I spoke to a different person this time and was told again they can't approve me even for a $500 limit even after stating i've had a couple of accounts with them for 5+ years. He suggested that I go into my local chase branch and they might be able to approve me because there in a different department. :confused:

Hopefully they can help otherwise I'll have to play there little game and get a secured loan for a few months to show "history".
April 2012 - Capital One Cash Rewards: $2000



August 2012 - Chase Freedom: $3000


CC Deville
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Postby CC Deville » Fri Apr 27, 2012 3:37 pm

2010drive wrote:Correct...I called the number Marcov719 posted. I spoke to a different person this time and was told again they can't approve me even for a $500 limit even after stating i've had a couple of accounts with them for 5+ years. He suggested that I go into my local chase branch and they might be able to approve me because there in a different department. :confused:

Hopefully they can help otherwise I'll have to play there little game and get a secured loan for a few months to show "history".


Let us know how it goes. I also see that you live in Washington State. I would suggest joining Boeing Employees Credit Union (BECU). They are one of the strongest credit unions in the country and I have heard good things about them. You might be able to get a card through them.

432521
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Postby 432521 » Fri Apr 27, 2012 3:42 pm

that is really weird that they denied you again. You say you have income of 24000 are u sure you put that amount when you applied some else said they had 38,000 income but accidentally put 3,800 that's why he got denied. I suggest calling again maybe at a different time and making sure that you actually put down 24,000 because at first I put 6,000 but when I called then I said 12,000 and I would only need to start off with a 500 CL if that would make any difference and the guy on the phone was extra nice and took maybe 5 mins or less to approve me for the card.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

2010drive
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Postby 2010drive » Sun Apr 29, 2012 2:52 pm

432521 wrote:that is really weird that they denied you again. You say you have income of 24000 are u sure you put that amount when you applied some else said they had 38,000 income but accidentally put 3,800 that's why he got denied. I suggest calling again maybe at a different time and making sure that you actually put down 24,000 because at first I put 6,000 but when I called then I said 12,000 and I would only need to start off with a 500 CL if that would make any difference and the guy on the phone was extra nice and took maybe 5 mins or less to approve me for the card.


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 ;)
April 2012 - Capital One Cash Rewards: $2000



August 2012 - Chase Freedom: $3000



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