Chase Reconsideration

[clear thinker]

before 10?

Yes I called 9:40 she approved me 9:55

[@Yehuda]

I don't understand what your trying to say

That sometimes you just get messed over and they pick a reason and stick to it even though others have the same situation but weren't given any problems with recon.

Aren't you in NY? How come Barclays pulled your EX?

Yes

[clear thinker]

I just applied for  the bold charge card. I was advised to say that I wished to start up a business. Now I had a couple of issues. First the woman claimed I had a delinquency in my Equifax account. Then she said I have too many inquiries and I have nearly maxed out one of my cards (11k limit) and have 5k owing on the other. (Citi cards :/ ) plus I have too many pulls. As well as my business not being established.

The delinquency on my Equifax wasn't true. So I called back up asked him to look it over again. Then we figured that I had used a business name that exists in my area and they thought that that was my business. (Their mistake.) He then said he still can't approve me as I don't have an established business.

My claim to him was that I had been doing research into buying/selling electronics online. And was ready to start buying merchandize soon. That's why I was applying for the charge card, as I wasn't sure exactly how much my investment will be.

Any ideas?
TIA

I had the same problem with leans on the business name that I picked but by me they didn't want to listen that it's a different business.
What pertains to u, be persistent & offer to shift credit from a different card even if they claim they can't from personal to business that is not true.
Just don't give up.

[htg123]

I just applied for  the bold charge card. I was advised to say that I wished to start up a business. Now I had a couple of issues. First the woman claimed I had a delinquency in my Equifax account. Then she said I have too many inquiries and I have nearly maxed out one of my cards (11k limit) and have 5k owing on the other. (Citi cards :/ ) plus I have too many pulls. As well as my business not being established.

The delinquency on my Equifax wasn't true. So I called back up asked him to look it over again. Then we figured that I had used a business name that exists in my area and they thought that that was my business. (Their mistake.) He then said he still can't approve me as I don't have an established business.

My claim to him was that I had been doing research into buying/selling electronics online. And was ready to start buying merchandize soon. That's why I was applying for the charge card, as I wasn't sure exactly how much my investment will be.

Any ideas?
TIA

HUCA is the only real answer...but a thought for the future. Don't apply when carrying such balances and have so many hard pulls on file

[Joe4007]

Yes

Interesting. What card, and was it instant approval?

[clear thinker]

Instead of doing a 3BM, I tried a different route.

I applied just for my wife for UA, got pending, called and they just wanted to verify a few transactions on another card and then approved! b"h

Typing this as I'm on the phone and each stage progresses...

Then, I applied for SP, got pending, called and found out that the downgrade I did to my SP yesterday didn't kick in yet, so the app was declined for having the same card already. Frustrating bc last time I did this, it was downgraded the next day and this time I even called first to ask if my card was currently an SP or a regular and they told me regular. Yet, the app system still picked up on me having the same card. Got awkward when the rep asked why I downgraded a card and then applied for that same card the next day. Said that I wanted to still try out the card but didn't want to deal with the AF yet (yeah, not a great answer) and then she rocked me by saying that I only opened my first SP in April so the AF wouldn't hit for a few months still. I gave another "eh" answer by saying that I'm very nervous and OCD with my credit cards and just wanted to extend the length I have to try out this card w/o an AF. So she started reviewing, then got back on the phone and said she needs to pull my CR because the first app never even processed so they haven't pulled yet. I said okay (because that should still be only 1 visible pull on CR today from Chase). Came back on the phone and said I have too many cards or credit or something and then OFFERED to close a card for me - specifically the regular Sapphire that we were just talking about! lol Then she got back on the phone and told me she can't close the Sapphire because I have points in the account - ARGH! Another lesson learned today, etech - get your Chase points into a different account before closing (I just didn't realize she would ask me to close a card). So, I said let me go online and see if I can transfer them now into my Freedom and if that will show up in your system. I did that and gave her the confirmation number of the transfer over the phone. Then she transferred me to fraud verification. Fraud team kept me on hold for a while then came back to verify almost the same details about my Freedom card that they verified with my UA app. Regular rep got back on the phone and in a few minutes, approved me! b"h

Then, I applied for BA, got pending, called and was told they need the fraud verification team again. Again, they asked questions about my Freedom card. But, this time they also want me to fax over a copy of my driver's license Had to deal with that before and it's just annoying because first a rep gets it and scans it into their system and then they review it in the order received, so it could take a few days. But, otherwise it looks like that one may get approved.

So... I would say this worked better than the traditional 3BM. I did submit each app in a new browser just to avoid duplicate apps but again, I applied then called then applied then called, etc. 100K-150K points in one day, not bad!


PS If I had to guess, the need for verification on all 3 cards today might have been due to the fact that my wife's Chase account had a fraud issue on it a few months ago.

What I still don't get is why this way would be any better? they still see that you're asking for 3 ccs in one day.
I'm just trying to understand the reasoning.

[@Yehuda]

Interesting. What card, and was it instant approval?

I remember now was a 2BM for LH and US but the US had to go through document review which took a few days. Could be they pulled TU on day of app and then EX a few days later while reviewing. I'd have to check my TU CR to see what day I got a pull from them if any.

[@Yehuda]

What I still don't get is why this way would be any better? they still see that you're asking for 3 ccs in one day.
I'm just trying to understand the reasoning.

It's a hunch.
Maybe they only see pending apps when they open their screen.
Maybe they see other apps approved today and that looks better than seeing other apps pending today.

[clear thinker]

It's a hunch.
Maybe they only see pending apps when they open their screen.
Maybe they see other apps approved today and that looks better than seeing other apps pending today.

Ok it's a little bit resonating, that pending apps kind of jump up as a current thing and approved is more like something of the past.

[MeirS]

What I still don't get is why this way would be any better? they still see that you're asking for 3 ccs in one day.
I'm just trying to understand the reasoning.

They only see that you're applying for 3 credit cards a day after they already approved you for the first 2 so you lose nothing and you gain better chances of approval for the first 2, then the third card has no additional pull so you lose nothing again.

I think it makes a lot of sense.

[@Yehuda]

Ok it's a little bit resonating, that pending apps kind of jump up as a current thing and approved is more like something of the past.

Yeah, perhaps that works. I just think like Meir said that at least the first 2 apps gets reconned without having 3 pending apps waiting.

[MeirS]

They only see that you're applying for 3 credit cards a day after they already approved you for the first 2 so you lose nothing and you gain better chances of approval for the first 2, then the third card has no additional pull so you lose nothing again.

I think it makes a lot of sense.

http://forums.dansdeals.com/index.php?topic=9825.msg900879.msg#900879

Is this the first place on the forums that this idea is mentioned? If it ever gets to the DDMS, maybe I'll get my first HT.

[Yehoshua]

http://forums.dansdeals.com/index.php?topic=9825.msg900879.msg#900879

Is this the first place on the forums that this idea is mentioned? If it ever gets to the DDMS, maybe I'll get my first HT.

I don't know if it's the first place it's mentioned, but I've also done it before and it'd worked for me. Actually, I did it more of @Yehuda's way, calling after each one, and that worked as well.

[NYHeel]

Or if you were declined credit. If you need to call recon you were probably declined.

But I was never actually declined. Just had to call recon on a pending application. Is that really adverse action or a card being declined?

I don't mean to be annoying but I get a little hesitant to lie when it means saving money. It starts to get a little too close to stealing for me.

[Don Will]

Can a personal banker in a local branch do anything for credit reconsideration

[@Yehuda]

But I was never actually declined. Just had to call recon on a pending application. Is that really adverse action or a card being declined?

I don't mean to be annoying but I get a little hesitant to lie when it means saving money. It starts to get a little too close to stealing for me.

I agree with you, but you could be declined. You don't know why your app is "pending". A lot of time you call for your first recon, and they say you were declined.

[Yehoshua]

But I was never actually declined. Just had to call recon on a pending application. Is that really adverse action or a card being declined?

I don't mean to be annoying but I get a little hesitant to lie when it means saving money. It starts to get a little too close to stealing for me.

If you weren't approved instantly you were basically declined.

[@Yehuda]

If you weren't approved instantly you were basically declined.

+1
If you didn't call recon, I would imagine your letter in 14 days would say "declined".

[clear thinker]

Can a personal banker in a local branch do anything for credit reconsideration

They can write a letter for you, but they might want to see a minimum of 10k in your account, or they can just call for you.

[etech0]

I agree with you, but you could be declined. You don't know why your app is "pending". A lot of time you call for your first recon, and they say you were declined.

+1