Quick background: my mom is pretty old-school, she doesn't carry balances on the few cards she has. She carries a couple department store charge cards and a sears card. Her oldest account (sears charge now a sears MC) goes back to 1988 and has perfect history, she's never carried a balance and she owns her home so there's no mortgage reporting. This is directly from her Equifax Score Power--803 score (PG was 802; same info across the board on all 3 CRs): So I tell mom, go ahead and apply for Chase Perfect card, the rewards are great, you'll like it as much as I like my Freedom card. No instant approval, it took a few days but their response: Was there a big party at Chase bank recently and by chance was this credit manager drunk?? We already burned the inquiry. Does anyone have a good, direct number that would connect to the reconsideration department (does this exist?) at Chase? I hope someone knows the easiest route to get this thing approved; I know PFB is also an option, but if it's possible, seems easier to get a decision maker on the phone and just ask them to take a second look. Thanks in advance for any info...
Chase does not pull Equifax. They mainly use Trans Union. I would check her file with TU, update it to reflect all accounts that she has, then have Chase reconsider. HTH
I forgot, they manually review each app. There is no instant decision. It took a couple of days before I got approved for my perfect card. Again, check her TU file and make sure that it is reporting all accounts. There is a number for retention but I do not have it with me. YOu can do a search for posts by MARCI - She has one with the subject "Direct to 'R' ".
To get an Amex Black Centurian you're supposed to spend at least $150k annually on Amex. Could it be possible Chas has some smaller but still significant expectation of perfect card applicants?
Excellent, I'll dig up the retention number and pass it along. I did pull TU from TU's site, but only the freebie, no score included. All of the info matched, no surprises and nothing missing. Chase perfect card is maybe 1/100th as prestigous or hard to get as something like a Centurion! Cripes I was approved for my Shell Mastercard (predecesor to this card) when my scores were ~650, I had to PFB for reconsideration but I was carrying a lot of balances at the time. Only thing I can think of is they put some sort of profitability score to her profile, and it said she's a deadbeat because dear ol mom doesn't use any of the credit she already has. Will have her call retention tomorrow, if that doesn't work, find a bank with a clue!!
if she does'nt use credit chase won't give her a card if they feel like they will make no money that is the problem I bet not a hidden problem on tu...
*** Victims of Credit Reporting *** http://members.aol.com/victcrdrpt/Score.html This is why they turned her down.
The real point of a rewards card is to NOT carry a balance to MAXIMIZE the use of the card. Chase will earn PLENTY on MERCHANT TRANSACTION FEES (up to 3% of each transaction) from using the card. Yes, they will make more if a balance is carried, but it doesn't mean that they will LOSE money.
Any bank can pull any credit bureau file. It may not be in the "pattern" of how it had been done before, but it doesn't mean that they "don't" or "can't" pull other files. Many times it can be state specific on which credit bureau file is pulled.
That is correct!. I had an MBNA account with 20K limit that was close because I did not used it, neither their Bal transfer checks. I am pretty sure that this was the reason for closure.
Re: Re: DENIED by Chase with 803! wow dave you think!!!!! what I said was if she doesn't use the cards she has chase will not give her a new card that costs chase about 60 dollars a year ( she's old school dave doesn'tt use credit cards)
Re: Re: DENIED by Chase with 803! hey will will is right on this one, if you are using the cards you already have, then chase would most likely approve you. Banks don't want to sign up a new customer just to have the card collecting dust.
CONGRATULATIONS ON THE DENIAL...JOIN THE CLUB!!! YOUR MOM IS BETTER OFF!!! I was jacked and denied a second account because the had a FAKE 30 DAY LATE IN THEIR COMPUTER SYSTEM...
Re: Re: DENIED by Chase with 803! They did pull TU, but that CR was as immaculate as the others. Called the Chase credit dept (800-835-9315) for reconsideration, they still said it's a no-go because she never uses the few cards she has. The bank gives a deadbeat like me more cards than I can carry, but tells poor ol mom--who would chew off her own arm before missing a payment--to take a hike! FICO or not, Something's truly wrong with this system.
Re: Re: DENIED by Chase with 803! The bank gives a deadbeat like me more cards than I can carry, but tells poor ol mom--who would chew off her own arm before missing a payment--to take a hike! FICO or not, Something's truly wrong with this system. denied If this don't prove fico is a scam I don't know what does.! ..
