Denied for Southwest Premier 50k. Don't understand
Apr 20, 2015, 1:42 pm
#1
Original Poster
Join Date: Apr 2010
Posts: 49
Denied for Southwest Premier 50k. Don't understand
I applied for the Chase SW premier personal 50k card, and was going to apply for the business version as well to get me a companion pass...
Was blindsided by a denial. I currently only have one card with Chase, and it's an Ink Bold which I spent more than 200k on a year and pay promptly. I don't think I've ever had any other type of card with Chase or any other product from them.
The reason they gave me is that they cannot approve me based on my current credit limit with chase, relative to my income.
they told me I have a limit on the bold card of 75k, and I reported 85k income in the app for the SW card.
I replied that I never asked for that type of line, and if it was possible to just move some of that credit over to this new card. They said they can try, so they put me on the line with the Ink Bold specialist, who reduced my limit on that card to 50k.
Then we went through the whole app process again on the phone for the new card, and after all that they still gave me the same reason.
Any thoughts, suggestions? I'm 25, run my own biz and my transunion and equifax are between 780-800. Have multiple cards with amex, citi, boa, barclay, etc... really disappointed about this one.
Was blindsided by a denial. I currently only have one card with Chase, and it's an Ink Bold which I spent more than 200k on a year and pay promptly. I don't think I've ever had any other type of card with Chase or any other product from them.
The reason they gave me is that they cannot approve me based on my current credit limit with chase, relative to my income.
they told me I have a limit on the bold card of 75k, and I reported 85k income in the app for the SW card.
I replied that I never asked for that type of line, and if it was possible to just move some of that credit over to this new card. They said they can try, so they put me on the line with the Ink Bold specialist, who reduced my limit on that card to 50k.
Then we went through the whole app process again on the phone for the new card, and after all that they still gave me the same reason.
Any thoughts, suggestions? I'm 25, run my own biz and my transunion and equifax are between 780-800. Have multiple cards with amex, citi, boa, barclay, etc... really disappointed about this one.
Apr 20, 2015, 1:56 pm
#2
Join Date: Oct 2001
Programs: LTP, PP
Posts: 8,698
Did you call the reconsideration line (sounds like you did) or is this all from the form letter?
I also doubt you have a 75k (now 50k) credit limit at this point, what does your statement say?
The short answer is that they can be morons (all of them) who can't think for themselves. I'm in your similar situation and must charge 75k monthly spread out on various cards, all of which is paid in full monthly by their direct debit and don't pay a dime in interest. However, when they pull a report, they'll see 7 cards with $15,000 in use (temporarily, until the debit hits) and conclude they all must revolve long time.
If the card is that important, keep calling back and explaining your situation until you reach someone with common sense.
I also doubt you have a 75k (now 50k) credit limit at this point, what does your statement say?
The short answer is that they can be morons (all of them) who can't think for themselves. I'm in your similar situation and must charge 75k monthly spread out on various cards, all of which is paid in full monthly by their direct debit and don't pay a dime in interest. However, when they pull a report, they'll see 7 cards with $15,000 in use (temporarily, until the debit hits) and conclude they all must revolve long time.
If the card is that important, keep calling back and explaining your situation until you reach someone with common sense.
Apr 20, 2015, 2:33 pm
#3
Original Poster
Join Date: Apr 2010
Posts: 49
I did call, and that's where I'm getting all the info above from.
As far as the credit limit, I'm just repeating what they told me.
I'll look at my statement and see. I usually just pay everything directly online after verifying all of my charges.
I guess I'll try again. It's not the most important. Realized I can fly SW to a few places I go often from Atlanta, and the companion pass would come in handy.
As far as the credit limit, I'm just repeating what they told me.
I'll look at my statement and see. I usually just pay everything directly online after verifying all of my charges.
I guess I'll try again. It's not the most important. Realized I can fly SW to a few places I go often from Atlanta, and the companion pass would come in handy.
Apr 20, 2015, 2:50 pm
#4
A FlyerTalk Posting Legend
Join Date: Jul 2002
Location: MCI
Programs: AA Gold 1MM, AS MVP, UA Silver, WN A-List, Marriott LT Titanium, HH Diamond
Posts: 52,559
I got a random Chase denial a few years ago and never really understood why. I just assumed I was in their doghouse as I'd churned a bunch of cards over the years, but I was also still carrying 3-4 of their cards for different reasons. I got the denial, plus a noticeable lack of junk mail with new offers.
Then, out of the blue this year, I started getting piles of junk mail and balance transfer offers from Chase again. So I went back to the card that bonged me earlier, applied online, and got instant approval with a $30k limit.
Nothing much about my credit/debt/income profile changed substantially since the earlier denial. My income is a bit higher but our mortgage payment is also a bit higher, so whatever ratios they use shouldn't be materially different.
I still don't know what happened. I just think Chase can be a bit finicky at times. Seems like a few other people here have had similar issues...
Then, out of the blue this year, I started getting piles of junk mail and balance transfer offers from Chase again. So I went back to the card that bonged me earlier, applied online, and got instant approval with a $30k limit.
Nothing much about my credit/debt/income profile changed substantially since the earlier denial. My income is a bit higher but our mortgage payment is also a bit higher, so whatever ratios they use shouldn't be materially different.
I still don't know what happened. I just think Chase can be a bit finicky at times. Seems like a few other people here have had similar issues...
Apr 21, 2015, 9:06 am
#5
Original Poster
Join Date: Apr 2010
Posts: 49
Ah well.
Any thoughts on what I should do? I'm going to try calling once more today when I get a break, but if that doesn't work, I guess I'll just drop it.
Is it s 60 day wait/cycle for Chase cards?
I just want to time it so I can get the southwest 50k/60k bonuses and get a companion pass really... I'll be married by this time next year and would really love to get up and go on weekends with my wife whenever the mood strikes.
Any thoughts on what I should do? I'm going to try calling once more today when I get a break, but if that doesn't work, I guess I'll just drop it.
Is it s 60 day wait/cycle for Chase cards?
I just want to time it so I can get the southwest 50k/60k bonuses and get a companion pass really... I'll be married by this time next year and would really love to get up and go on weekends with my wife whenever the mood strikes.
Apr 21, 2015, 12:37 pm
#6
Join Date: Oct 2001
Programs: LTP, PP
Posts: 8,698
Maybe put the onus on them?
"Tell me what I need to do to get this card. I want to start collecting WN points and plan to transfer $XXXXXX of business to you of which you earn 3%. I want the business card as well since I need to keep my business and personal spending separate".
PS - you might have waited until Jan 2016 to do both, then you would have had almost 2 full years to take your bride away. Although I don't recall a law forbidding you from taking away a fiancee currently...
Good luck.
"Tell me what I need to do to get this card. I want to start collecting WN points and plan to transfer $XXXXXX of business to you of which you earn 3%. I want the business card as well since I need to keep my business and personal spending separate".
PS - you might have waited until Jan 2016 to do both, then you would have had almost 2 full years to take your bride away. Although I don't recall a law forbidding you from taking away a fiancee currently...
Good luck.
Apr 24, 2015, 1:19 pm
#7
Original Poster
Join Date: Apr 2010
Posts: 49
Maybe put the onus on them?
"Tell me what I need to do to get this card. I want to start collecting WN points and plan to transfer $XXXXXX of business to you of which you earn 3%. I want the business card as well since I need to keep my business and personal spending separate".
PS - you might have waited until Jan 2016 to do both, then you would have had almost 2 full years to take your bride away. Although I don't recall a law forbidding you from taking away a fiancee currently...
Good luck.
"Tell me what I need to do to get this card. I want to start collecting WN points and plan to transfer $XXXXXX of business to you of which you earn 3%. I want the business card as well since I need to keep my business and personal spending separate".
PS - you might have waited until Jan 2016 to do both, then you would have had almost 2 full years to take your bride away. Although I don't recall a law forbidding you from taking away a fiancee currently...
Good luck.
I sent them a pretty stern SM and that I was very disappointed and didn't feel valued as a customer, etc... told them to contact me if they valued my business.
Got a couple responses on SM saying they received and would contact.
Got a call this morning explaining the situation. Due to some federal regulation they couldn't approve because my income vs my monthly obligations (of which there are none. I have not mortgage, rent, payments etc.).
All I have is paying off my CCs in full every month and cost of living plus utilities and such like that.
The rep was nice and apologetic and what not and I explained what I was trying to do. Since the ink bold is a charge card, I also wanted a credit card for my business to keep things flexible if I ever need. And I wanted a personal cc to keep my spending separate.
he recommended that I apply for the business card and then call to look back at the personal card since they could not transfer credit from the charge card.
I called, applied and got approved for the 60k biz premier offer.
Called back about the personal and the guy saw a bunch of notes on the file and said there's not much we can do, but I saw you've been approved for the business card, congrats, yadda yadda. I explained i just wanted the personal to keep my spending separate and he said they couldn't take the credit from the biz card (which was approved for 35k) to apply to the personal card.
He did say that since I owned the business, I could report it's revenue as part of my income on the personal app. So we went through the app again and changed the figures (substantially more this time, since my revenue is a lot more than my salary). He said he sent it to a senior analyst for review and would take the usual 5-7 days. But I'll call back later tonight or tomorrow and hopefully it'll all be squared away.
*In short, looks like persistance and a bit of shrewd operating will net me 50k plus 60k in sw bonuses and I'll have my companion pass in a month's time!
Apr 24, 2015, 3:01 pm
#8
Join Date: Oct 2001
Programs: LTP, PP
Posts: 8,698
Good stuff, congrats! Am I reading this right though, they haven given you CREDIT lines of $35,000, $50,000 and $75,000 at one time? Simply amazing given your age, assets and income. You must be doing something right. I know they won't transfer personal to business or visa versa, ridiculous since its the same guarantor. Well, great news and get flying.
Apr 25, 2015, 10:21 am
#9
Original Poster
Join Date: Apr 2010
Posts: 49
So,
I'm not certain that the credit line on the bold is 75k. That's just what the rep told me. Since it's one of those charge cards without preset spending limits, it doesn't show the credit line on the statement.
I do know that it is at least 35k on that since I did have to request for it early on, they gave me no trouble. It is a legitimate business card that I use to pay quite a bit for my biz.
The new southwest biz card is 35k indeed, but it's also attached to my same business account so I guess they looked at the metrics for my bold card and defaulted to that. I didn't even ask.
As far as my credit, I quite fortuitously accidentally used the Amex AU loophole. My dad had a delta reserve card and made me an AU with a no fee platinum card for family emergencies. So it shows my oldest active line is since 1996. It's a bit unfair, but I'm not complaining. My credit, when I finally realized what credit was, was in the 700s the first time I checked. Don't hate the player, hate the game kinda thing. Now I'm on it and maximizing as much as I can.
My fiancée has no credit as she's only been here since 2012 studying and never thought to apply for anything. So I'm using all the tricks to hook her up too. My dads reserve card is still active and he's gonna let me make an AU for her and see if we can replicate the same good fortune I had.
I'm not certain that the credit line on the bold is 75k. That's just what the rep told me. Since it's one of those charge cards without preset spending limits, it doesn't show the credit line on the statement.
I do know that it is at least 35k on that since I did have to request for it early on, they gave me no trouble. It is a legitimate business card that I use to pay quite a bit for my biz.
The new southwest biz card is 35k indeed, but it's also attached to my same business account so I guess they looked at the metrics for my bold card and defaulted to that. I didn't even ask.
As far as my credit, I quite fortuitously accidentally used the Amex AU loophole. My dad had a delta reserve card and made me an AU with a no fee platinum card for family emergencies. So it shows my oldest active line is since 1996. It's a bit unfair, but I'm not complaining. My credit, when I finally realized what credit was, was in the 700s the first time I checked. Don't hate the player, hate the game kinda thing. Now I'm on it and maximizing as much as I can.
My fiancée has no credit as she's only been here since 2012 studying and never thought to apply for anything. So I'm using all the tricks to hook her up too. My dads reserve card is still active and he's gonna let me make an AU for her and see if we can replicate the same good fortune I had.
May 15, 2015, 1:02 pm
#11
Original Poster
Join Date: Apr 2010
Posts: 49
Finally got somewhere on this.
After a long wait and calling back every couple of days with no success, randomly I got my personal card in the mail, with a 30k limit.
After not approving me because I had "too much credit" with Chase, they approved me with a business card and a personal card with a 35k and 30k limit each. Mind boggling how they manage to make any money with so many clowns running their circus.
In any case, I'm thrilled. I confirmed that bonuses for both cards at 60k/3k for the business and 50k/2k for the personal. I've met minimum spend on both as well.
Does anyone know the typical turn around time on how long it takes for points to post, and then how long it takes to get my companion pass? It's still may, I'd like to plan a few quick trips for the summer.
Thanks!
After a long wait and calling back every couple of days with no success, randomly I got my personal card in the mail, with a 30k limit.
After not approving me because I had "too much credit" with Chase, they approved me with a business card and a personal card with a 35k and 30k limit each. Mind boggling how they manage to make any money with so many clowns running their circus.
In any case, I'm thrilled. I confirmed that bonuses for both cards at 60k/3k for the business and 50k/2k for the personal. I've met minimum spend on both as well.
Does anyone know the typical turn around time on how long it takes for points to post, and then how long it takes to get my companion pass? It's still may, I'd like to plan a few quick trips for the summer.
Thanks!