- posted 10 years ago
I recently applied for a credit card from Chase, as I find my old card to be not so convenient.
To my dismay, my application was denied with a vague reason related to my credit report.
I was alarmed and thought that perhaps some hanky panky is going on, so I ordered a free promotion of "three agency credit review" on TrueCredit.com. I hope to be able to cancel it in time.
It turned out that
1) Absolutely all accounts such as mortgage and credit cards never have been delinquent or more than 30 days past due 2) My scores from three agencies are 784, 774, and 760 3) We also always pay all credit card bills in full.
While we recently refinanced out house, we did not apply for much else.
We would seem to be as good credit risk as anything.
We had three inquiries, all related to refinancing.
So my obvious question is, how could my application be denied, what sense does it make to deny it, and what is going on.
Could the credit card industry be in a state of distress, rejecting most applications due to losses?