I finally got my Chase Denial letter from the mail yesterday. The reason of denial is too many recent opened accounts. They asked me if I'm interesting in opening the secured card with them. They charged me $35.00 annual fee and 19.8% APR and they need me to deposit money into secured savings account. I don't need another secured card because I don't have any bad credit . No thanks. Ron.
Tell them you will deposit $5,000 in the savings account if you can have credit limit $15,000, no annual fee, and an interest rate 5.00% or under...
Ron, how funny! I also got an offer for a secured card from Chase this past week after being declined for their regular card (balances on cards too high). Got similar from BofA. I didn't have any derogs on the reports they pulled, and yet they want me to secure a card with them? Uhhhh...no. I don't *need* credit...have all I would want to use for the time being. Would like to get a couple of prime cards just to break into the prime market, although I don't suppose there is any real rush to do it. L
Ron- I got a denial letter too, Mine had 4 reasons on it, 1. Too many inquiries 2. Too many recently opened accounts with not enough history. 3. Too much revolving credit 4. Excessive inquiries (a nice way to reword #1) BTW I had 4 inquiries at the time
I just got a new chase continental airlines platinum card with a 15k limit. 5.9% for 6 months then 11% go to rate. I wanted to go for the regular chase card with the 0% deal but figured I wouldn't get it.
Re: Get Chase Denied letter yesterd Thanks guys for your reply. I don't need another secured card. I apply for Chase because I'm afraid that I can pay it off my computer purchase within 3 month zero percent financing. They told me to try again after 6 months. I probably not try it again. Thanks. Ron.
Re: Get Chase Denied letter yesterd Hey, I got a denial in the mail from Chase today too. Reasons - Proportion of balances to credit limit is too high on bank revolving accounts, and Average length of time accounts have been established. Geez, I guess they are not in the business of extending credit unless it is secured. This is the second time they declined me. The first time I fired off a letter via PFB, essentially no response, just a 800 # to call customer service. I also sent a letter via certified mail, return receipt disputing the reasons for my denial and basically demanding they issue me a card. Ha...let's see what that will get me. Still waiting for a response. I just don't get it. My Trans Union report is totally clean. Times must be pretty hard for the credit industry.
Re: Get Chase Denied letter yesterd People are paying off their cards RIGHT AND LEFT...that means they should want more business...THEY SHOULD LOWER THEIR STANDARDS (A LITTLE)...NOT RAISE THEM!!!
Re: Get Chase Denied letter yesterd THEY SHOULD LOWER THEIR STANDARDS (A LITTLE)...NOT RAISE THEM!!! [/QUOTE] GEORGE ================= Well let's do it for them!
Re: Get Chase Denied letter yesterd I also was recently denied by Chase and received the same secured card application. That´s funny because I already have a Chase Visa card since 01/2001 and was offered an special bal transfer checks and to increase my cr limit to 6k if I use these checks!!.
