I have slowly rebuilt my credit over the years (no bankruptcies; just a defaulted student loan which has been paid) using advice from this forum. I have a 10k card w/cap1 and a joint w/hubby 40k card w/chase. I recently pulled my score and it was 700 w/no bad entries on my credit reports. In light of this, I applied for a new chase credit card and was sent a $300.00 limit card w/a high interest rate. Is Chase that picky on customers? Is my credit that bad? Needless to say, I cut up the card and cancelled the account. Anyone have similar experiences? Thanks.
Nope- no offers of something better. I was actually embarassed by this. My credit must be worse than I thought! The only other thing I can think of is that I must look overextended.
Have you pulled your reports to see what is there? There could be many erroneous entries that could significantly lower your score. The first step is to get hard copy reports directly from the three agencies. Then post back with what you find and we'll help you attack them. In the meantime, do a lot of reading of old posts here.
Could be for two reasons: 1. The current credit crunch. More and more big name banks do not extend high limit cards any longer - they're being burned by defaults on mortgages, credit cards, loans, etc. 2. You only have two cards - Cap One, and the one you are holding jointly with your husband. Creditors like to see more positive account histories.
I agree with Greg and Hedwig. First, you have a really "thin" file. I would consider amplifying that a bit. Second, you would be wise to pull your reports in order to see where you stand and also, get your FICO scores if you're concerned about them. Finally, and to answer your initial question, yes, Chase is rather strange.
How long is your history? Somewhere on your report it should tell you how old the oldest account is. If you have a short history, that would also impact your scores.
