- 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
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?