Sort of! After reading another post on how someone applied for Chase and was denied but offered their secured card, I decided to try my luck. I have like 2 inquiries on my TU report (and a ton of softs from not Worth Knowing ;-) from Chase and that's it. Everything else fell off (no one checks TU in my area). I applied for Chase almost 2 years ago and was denied. Then in Jan 01 I applied for their secured card and was denied (that was a tuff one to swollow). So now I get a lettter stating that I was denied for their Chase MasterCard for the following reason: - Your consumer credit report reflects a charge-off and/or collection account (Damn Ford Credit!) So, now (finally after 2 years) I have an opportunity to get my foot in the door with them. They are offering me a secured card (min deposit is $300). So my plan is to open the account and establish myself with them, then after the card gets unsecured, close both Providian cards that I have. I just have a few questions: 1. Can you send in deposits in multiples of $100 at any time to raise your limit? This matters because if you can't, then I'll put down a larger deposit. If you can, then I'll start off at $300 and send in money monthly. 2. How long does it take for it to go unsecured? Last time I applied for this card (had to call and have an application sent to me) I think it said after 12 or 18 months. Can't remember which. It does say in the letter that my account will be reviewed periodically and may soon become eligable for an unsecured line of credit (so that's good). 3. Do they report? If so, do they report as secured? Not that it matter if they report as secured, I'm just curious if they report at all. Or do they do what Citibank does and report your history after your card is unsecured?
Hi MP!!! I know that they are the hardest card to get with any kind of past problems, and they normally bounce anybody with a BK anywhere near the record - grrr... Congrats - CHASE is the first card I want - other than AMEX PLatinum - when the negatives fall off. Aaarrff - you're cookin in the South Bay - aroo! Dog
Be careful. According to a Chase rep, this card will never go completely unsecured. You are simply invited to apply for an unsecured Chase card when the secured card has rebuilt your credit.
I must have really slipped thru the cracks. I applied for a Chase Platinum for the first time last year. I had 2 judgements, 2 collections and I think 3 chargeoffs. I got a unsecured card with a CL of $5000. It also had BT of 0% interest for 12months. Purchases 14% interest. they gave me the card with no problem. I guess I was LUCKY>>>>>
tinaboo, If you put a really good income on your app, I think they overlook some of your derogs. I think that's how I got my Discover Platinum.
O.k. so should I try PFB? Last time I applied for the secured, it specifically stated that it would go unsecured after timely payments. Maybe I should put in a call to customer service and get more 411.
MP$40, Before you accept the secured card, write Chase via PFB and give them your best reasons why you should have the card you applied for. They still may say no, or they may not respond immediately. But myself, Reshod, and another person here have gotten a card using PFB. For Reshod, a card showed up in the mail out of the blue a month after his PFB letter. Explain every derog/reason code that Chase refers to. Frankly, I'm not all that impressed with Chase, but if it's the card you want - don't settle for secured just yet. Hope things work for you...
O.k. well I just spoke with customer service. Basically, this card will always be secured until you close the account. At any time during the duration of the account, Chase may add additional credit to your account. After 18 months of timely payments, you may apply for their regular card and they WILL take this card into consideration. The rep stated that as long as you make your payments on time and have no new adverse derogitories on your report, you will get an unsecured card and at that point, you can close the secured account and get your money back. This card reports to all 3 as a standard MasterCard and shows no indication that it's secured. Also, you can send in additional funds (in multiples of $100) to increase your limit at any time. So, my plan is to write a letter via PFB and in the meanwhile send in this application (so no time is wasted just in case). If I get the classic card, then I'll keep the secured card and use it for gas then add my kid on after 18 months so he can have a card for incidentals. If I don't get the card via PFB, then I'll just keep the secured card and then after 18 months I'll apply and hopefull get a regular card and then save the secured card for my kid still.
THX for the info MP$40....yes they are strict - again congrats. Wish me luck - off to Tahoe for tonight and tomorrow night - driving back SUN with my new millions LOL! aarrff - have a wonderful Memorial Day weekend! snap you when I log on SUN. aarrffff - dogman doggin it on M day weekend ! PS - thank god for cruise control - on Highway 80 then 53 - to Nevada - on a Friday afternoon - Memorial Day weekend. Its 10:30 now and I will split in a few - want to be out of BERK - SAC before afternoon....
Oh wow....have fun! Lucky dog. I have no plans because today is my son's bday (13). Having a party tonight w/ a DJ and everything. Hope the cops don't show! Have a nice weekend!
