Got a letter from Chase over the weekend. Turned down for Platinum MC for ONLY ONE reason--"at least one of the following: lawsuit, judgment, lien, foreclosure, repossession..." If that's the only reason, then that means removing the 2 judgments from Trans Union could work wonders. Or if it's just an automatic turndown for the judgments, could other factors kill a subsequent application once the "no-brainer" isn't there any more?
Most creditors hold copies of your application on file for a period of time, meaning even if you get everything removed, they'll still see that they rejected you for it in the past... including the reason.
And the best part.....a friend of mine, with NO JOB, and NO INCOME, got a pre-approved Chase Platinum card. He sent it in.....14k LOC. BOING! He hasn't worked in 2 years and his reports are not great.....he has been living on credit cards, all are maxed, he pays minimums, and is a slow pay. NO car loans, no mtg (he lives at home). He only has cards and student loans, all slow, reporting. Yet, 14k LOC APPROVED! Great BT option too, no % for x months...... Ugh. Shawn
Shawn, I can only imagine what sort of claims your friend made about his income. Really, that type of thing works much better if one has a job, even a part-time job. That way, one can make the minimum payments without having to take cash advances. Keeps the interest rates lower...
