Get Chase Denied letter yesterday!!

Discussion in 'Credit Talk' started by Ron, May 12, 2002.

  1. Ron

    Ron Well-Known Member

    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.
     
  2. MartysGirl

    MartysGirl Well-Known Member

    That sucks!!!!
     
  3. GEORGE

    GEORGE Well-Known Member

    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...
     
  4. whyspers

    whyspers Well-Known Member

    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
     
  5. KHM

    KHM Well-Known Member

    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
     
  6. wolverine

    wolverine Well-Known Member

    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.
     
  7. GEORGE

    GEORGE Well-Known Member

    Now is a BACK DOOR available with CHASE too???

    Can you TRADE it for a FREE card???
     
  8. Reshod

    Reshod Well-Known Member

    Try PFB. This tactic worked for my 6 year old charge off last year
     
  9. Ron

    Ron Well-Known Member

    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.
     
  10. $wealth$

    $wealth$ Well-Known Member

    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.
     
  11. GEORGE

    GEORGE Well-Known Member

    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!!!
     
  12. lbrown59

    lbrown59 Well-Known Member

    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!
     
  13. Geo

    Geo Well-Known Member

    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!!.
     

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