Chase Reconsideration

[SPLP]

They won't send in the SRF unless you have a checking account with $10K in it.

what is a SFR?

[zer0k1]

They won't send in the SRF unless you have a checking account with $10K in it.

Ok didn't know that, thanks. I assume an SRF is a secondary reconsideration request or something? Would it make sense to open a Chase checking account now and try to fund it with $10k? Isn't there a minimum amount of time it needs to sit for?

[Jm1248]

Ok didn't know that, thanks. I assume an SRF is a secondary reconsideration request or something? Would it make sense to open a Chase checking account now and try to fund it with $10k? Isn't there a minimum amount of time it needs to sit for?

Why would there be a minimum amount of time? They probably just glance at your account

[abo456]

data point for everyone

applied for chase fairmont today and was denied (first credit card denial in over 5 years! ).  I have a FICO ~760, 7 cards opened in last 2 years, 3 chase cards opened this year. The CSR did the standard verification questions but then asked directly am I just getting the credit cards for points?  Of course not, I like the benefits and travel programs associated with it, etc.  I asked if there is anything I could do to get approved in the future, and he just reiterated about the 7 cards open in 2 years thing. 

I see on the forum others have suggested going to the bank in person, but since they are hung up on this 5/24 rule I dont see it worthwhile to waste half an hour in branch for the same schpeal.

[Jm1248]

data point for everyone

applied for chase fairmont today and was denied (first credit card denial in over 5 years! ).  I have a FICO ~760, 7 cards opened in last 2 years, 3 chase cards opened this year. The CSR did the standard verification questions but then asked directly am I just getting the credit cards for points?  Of course not, I like the benefits and travel programs associated with it, etc.  I asked if there is anything I could do to get approved in the future, and he just reiterated about the 7 cards open in 2 years thing. 

I see on the forum others have suggested going to the bank in person, but since they are hung up on this 5/24 rule I dont see it worthwhile to waste half an hour in branch for the same schpeal.

People have reported success getting reconsidered if you have over 10k in a chase account. The branch can then submit a special recon form. YMMV

[abo456]

People have reported success getting reconsidered if you have over 10k in a chase account. The branch can then submit a special recon form. YMMV

i dont currently have any chase banking accounts. what has been the response on approvals in branch...do you already have a 10k bank account or open a new checking/saving account and wait and reapply again?  I am guessing opening a checking account and asking for recon the same day may look bad. thoughts?

[Jm1248]

i dont currently have any chase banking accounts. what has been the response on approvals in branch...do you already have a 10k bank account or open a new checking/saving account and wait and reapply again?  I am guessing opening a checking account and asking for recon the same day may look bad. thoughts?

Personally I don't think its worth the hassle. Im sure others would disagree. However, I would think its best to wait at least a week before going in to recon

[abo456]

i also checked card match before i applied; it had me "prequalified" for the freedom and CSP so I figured maybe they will cut me some slack and approve me for a measly cobranded hotel card.  apparently the prequalifications mean nothing!!!!

anyway, there goes my tentative banff trip for next year. i sure was looking forward to one of those fairmont suites 

[TimT]

i also checked card match before i applied; it had me "prequalified" for the freedom and CSP so I figured maybe they will cut me some slack and approve me for a measly cobranded hotel card.  apparently the prequalifications mean nothing!!!!

anyway, there goes my tentative banff trip for next year. i sure was looking forward to one of those fairmont suites 

Pre-qualified does not mean approval

[abo456]

Pre-qualified does not mean approval

of course prequalified does not equal approval, but my logic was that if i am still showing as prequal for their cards with more than 5 apps in 24 months maybe i was still meeting their "credit worthy"standards. so does this really mean the fun is over with chase at least until they change their 24 month rule? i feel like 2-3 apps per year is ridiculous i imagine this will exclude almost all future customers since chase likes to market the travel benefits heavily. this would even exclude nonchurners!

im gonna do a little typecasting: the people who meet this 5/24 rule are those who are skeptical of credit cards. they have 1-2 credit cards and in no way would they be interested in getting any new ones.  basically im imagining my mother in law. not the demographic who is interested in travel benefits or really any new banking than what they already have. so who is chase trying to market these cards to now?? i dont get it

i guess if im really bored with time on my hands i might try a chase banking account...cringing at the thought of actually having to go in branch...

[TimT]

It's not a hard rule

[CS91]

People have reported success getting reconsidered if you have over 10k in a chase account. The branch can then submit a special recon form. YMMV

So...got a voicemail from the relationship banker that I spoke to in the branch a couple of days ago who told me that I'd be getting approved based on what they told him on the phone. He told me to call back the 800 number to get the decision because apparently they aren't allowed to give it to him. Called in, and they said that after reviewing the SRF they still cannot approve me. I straight up asked what the cut off is for amount of cards within the past 2 years and the rep said "I'm not allowed to discuss those details with you." Didn't seem like she was going to budge so I called back the relationship banker who was shocked when I told him that I still got declined. He said he's going to try to call them himself for me and push them to approve, but doesn't look too good. Just disappointing that they led him to believe that I would be approved and then went back on their word...

[abo456]

So...got a voicemail from the relationship banker that I spoke to in the branch a couple of days ago who told me that I'd be getting approved based on what they told him on the phone. He told me to call back the 800 number to get the decision because apparently they aren't allowed to give it to him. Called in, and they said that after reviewing the SRF they still cannot approve me. I straight up asked what the cut off is for amount of cards within the past 2 years and the rep said "I'm not allowed to discuss those details with you." Didn't seem like she was going to budge so I called back the relationship banker who was shocked when I told him that I still got declined. He said he's going to try to call them himself for me and push them to approve, but doesn't look too good. Just disappointing that they led him to believe that I would be approved and then went back on their word...

CS91: how long is your banking/cc history with chase? Just curious as I am trying to decide if its worthwhile to go in branch myself.

[jk2]

Applied for Hyatt Visa on 6/4, got a "pending" notice and I check a status everyday and it is still pending (today is 6/25). I'm afraid to call since I don't want a human looking into my credit report - I have a lot of cards in the last 2 years, but my last Chase card was approved in January 2015. Total I have 3 personal and 1 business cards from Chase. Is it normal (such long wait - even the recording says "we'll let you know in approximately 2 weeks")? Should I call or wait more?

[Jm1248]

Applied for Hyatt Visa on 6/4, got a "pending" notice and I check a status everyday and it is still pending (today is 6/25). I'm afraid to call since I don't want a human looking into my credit report - I have a lot of cards in the last 2 years, but my last Chase card was approved in January 2015. Total I have 3 personal and 1 business cards from Chase. Is it normal (such long wait - even the recording says "we'll let you know in approximately 2 weeks")? Should I call or wait more?

See wiki

[Marco Polo]

Applied for Hyatt Visa on 6/4, got a "pending" notice and I check a status everyday and it is still pending (today is 6/25). I'm afraid to call since I don't want a human looking into my credit report - I have a lot of cards in the last 2 years, but my last Chase card was approved in January 2015. Total I have 3 personal and 1 business cards from Chase. Is it normal (such long wait - even the recording says "we'll let you know in approximately 2 weeks")? Should I call or wait more?

Just PUTPAC.

[CS91]

CS91: how long is your banking/cc history with chase? Just curious as I am trying to decide if its worthwhile to go in branch myself.

A little over 5 years.

[jk2]

Just PUTPAC.

I don't really want to call unless it is REALLY necessary - not because I don't enjoy it, but I imagine as soon CSR looks over the things - new accounts, hard pulls, etc, the result will be hard NO. Especially, how Chase now approves for new cards, even for hotel one.

I wonder if I don't call at all - will be application considered or it would go to 'inactive' status after 30 days?

[Jm1248]

I don't really want to call unless it is REALLY necessary - not because I don't enjoy it, but I imagine as soon CSR looks over the things - new accounts, hard pulls, etc, the result will be hard NO. Especially, how Chase now approves for new cards, even for hotel one.

I wonder if I don't call at all - will be application considered or it would go to 'inactive' status after 30 days?

Why wouldn't it be considered?

[jk2]

Why wouldn't it be considered?

I don't know, I'm just confused why it is taking so long. I know that after 30 days after application, recon is not possible.