We're you denied a credit card due to credit crisis??
Oct 8, 2008, 7:56 pm
#1
Original Poster
Join Date: Apr 2001
Location: livermore,ca,usa
Posts: 87
We're you denied a credit card due to credit crisis??
My wife was denied a Marriott Rewards Card recently due to to many cards open. She doesn't have that many so I'm not sure if this is due to the current tightening of the credit market? Is it part of it?
Oct 9, 2008, 3:45 am
#2
In memoriam
Join Date: Jan 2006
Posts: 4,020
I was denied a Marriott card several months ago (first denial of a credit card in many, many years--and I have lots).
At the time, I concluded that Chase is basically a badly run company whose automated underwriting system is out of control. No reason to change my opinion now.
But, I doubt that your wife's denial had anything to do with the Bush " crisis." More likely, just business as usual at Chase.
At the time, I concluded that Chase is basically a badly run company whose automated underwriting system is out of control. No reason to change my opinion now.
But, I doubt that your wife's denial had anything to do with the Bush " crisis." More likely, just business as usual at Chase.
Oct 10, 2008, 8:24 pm
#6
Join Date: Jul 2008
Posts: 48
I was approved for a Chase BP Visa with a 10k limit. I'm 26 and only 4 tradelines on my report...a Civic that is paid for and never late and 3 other CCs that I use every month since 2001 and pay in full each month and never late!!! So I guess creditors are looking to give more credit to people like me that are technically "debt free"...although I plan to buy a house by my 30 birthday.
Last edited by meinside99; Oct 10, 2008 at 8:24 pm Reason: left out visa
Oct 10, 2008, 10:38 pm
#8
Join Date: Nov 2005
Programs: UA 1K, LH SEN, SPG Plat, Hyatt Diamond
Posts: 175
Oct 11, 2008, 3:41 am
#10
Join Date: Feb 2006
Location: 99654
Programs: Many
Posts: 6,450
Assuming you are looking for a free credit report.. You must contact the
credit agency that was used by the creditor. Its mentioned in the
letter they sent you.
credit agency that was used by the creditor. Its mentioned in the
letter they sent you.
Oct 12, 2008, 1:36 am
#11
Join Date: Jun 2006
Location: Manchester,UK and NYC
Programs: One Pass, BAEC, AA
Posts: 708
www.privacyguard.com - for $1 for a 60 day trial - you will see ALL THREE credit agencies reports, and not just the one that the particular bank used - and you dont have to wait for it in the mail - sign up and see your reports right away
Oct 12, 2008, 2:02 am
#12
Join Date: Jul 2008
Posts: 48
Oct 16, 2008, 8:06 am
#14
Join Date: Jan 2005
Programs: UA GOLD MM,WN CP A+list, HH Gold,MR LT Titanium
Posts: 2,184
Not denied,but tiny credit line
I just applied online for a PC Visa-I have other Chase accounts with lines around 25K each.I got an instant approval,but only a 1000 credit line.I planned to use it at IC properties,but it will be useless to me with such a low limit.I guess I'll simply charge the minimum for the bonus,use it sparingly for short stays then cancel before the year is up.
What a difference the recent economy has made in their credit practices.
update-my new card is now showing on my Chase profile with a 25K limit-guess they are not cutting back after all.
What a difference the recent economy has made in their credit practices.
update-my new card is now showing on my Chase profile with a 25K limit-guess they are not cutting back after all.
Last edited by freeflyin; Oct 18, 2008 at 11:51 am
Oct 16, 2008, 8:50 am
#15
Join Date: Jul 2001
Location: DTW
Programs: Dirt Status w/ All
Posts: 5,040
I submitted eight applications this morning and three were instantly approved (BoA, HSBC and Barclays) with 15K, 12.5K and 5.5K respectively. BoA is the only one I had an existing relationship with.
It is going to be tougher to get credit, but it is still there if you have good scores.
It is going to be tougher to get credit, but it is still there if you have good scores.