Hey Everyone!
Something very strange happened to me the other day that I thought I should share here. I applied for the Chase Saphire card and I was denied for it. Most would think that I have terrible credit and would deserve to be denied. However, my credit score is 820 and I am a great candidate for the card. Shortly after my denial, I called Chase and requested an explanation for my denial. The rep that I spoke with told me that I was being denied due to an abundance of available credit to me. In other words, they feel like I have too many card open elsewhere so I am a credit risk. The strange part is that I carry no balanced and my cards in full every month. Chase did not see it that way. I immediately requested and appeal and spoke with a different representative handling he appeal. He asked me a series of standard credit related questions. He then decided to maintain the denial. I was shocked and didn't understand the logic out of Chase. I can understand that I have a lot of available credit to me, but if I am not using it what does it matter? The representative told me that he would have approved someone with a much lower credit score that had less available credit to them. I was shocked because I see that as a great liability. The entire situation was so weird because I haven't applied for a new card in almost two years. I then when on Amex.com and applied for one of their promotions and was approved in two seconds... Go figure...
