View Full Version : Amazon Card to hard to get
I was looking for a vid card upgrade (a 6600GT to a 7600GT) and found a new one on amazon.com for about 73.99. I figured why not get the card, -30 and get the video card for 45 dollars shipped.
Now, I got a 15k Amex and a 10k Discover. I get constant Chase applications in the mail, and my score is in the high 700's.
Now, I went to go get their "Chase" card during checkout to get the -30.00 dollars and I was declined.
Honestly, if I can have what I got, get credit card offers from the same company supplying the card, and have an above average credit score and still can't get a stupid amazon card, somethings really screwed up.
I was very dissapointed in amazon for this.
If its a chase amazon card its chase that declined you not Amazon.
When was the last time you checked your credit report? May be a good idea to check all three.
If its a chase amazon card its chase that declined you not Amazon.
When was the last time you checked your credit report? May be a good idea to check all three.
Correct, I just found it interesting that I can get 2-3 offers from chase a week, but get declined on Amazon card. Guess I find it funny to. But regardless, I it still an amazon card ^^.
Was last quarter. I get the quarterly reports from Amex. Havn't got this quarters yet, but im sure not much as change.
Aktunka
11-28-07, 12:44 PM
Correct, I just found it interesting that I can get 2-3 offers from chase a week, but get declined on Amazon card. Guess I find it funny to.
The offers you get in the mail mean absolutely nothing at all. Not a darn thing. My sister gets these same offers all the time. She got them when she was on welfare for a while too. Yes, someone who was unemployed and receiving welfare at the time was getting these offers in the mail. What made it even better is that she has the worst credit ever and has collections after her from a few different places. So, card offers really don't mean anything about anything.
The offers you get in the mail mean absolutely nothing at all. Not a darn thing. My sister gets these same offers all the time. She got them when she was on welfare for a while too. Yes, someone who was unemployed and receiving welfare at the time was getting these offers in the mail. What made it even better is that she has the worst credit ever and has collections after her from a few different places. So, card offers really don't mean anything about anything.
Good point. Thats also why I lised the other information though. However, just found it humerous.
SteveLord
11-28-07, 12:48 PM
The offers you get in the mail mean absolutely nothing at all. Not a darn thing. My sister gets these same offers all the time. She got them when she was on welfare for a while too. Yes, someone who was unemployed and receiving welfare at the time was getting these offers in the mail. What made it even better is that she has the worst credit ever and has collections after her from a few different places. So, card offers really don't mean anything about anything.
Exactly...if you didnt know this....then you might seriously want to check up on your credit report.
Correct, I just found it interesting that I can get 2-3 offers from chase a week, but get declined on Amazon card. Guess I find it funny to. But regardless, I it still an amazon card ^^.
Was last quarter. I get the quarterly reports from Amex. Havn't got this quarters yet, but im sure not much as change.
Actually its a chase card with Amazon benefits.
Again its not Amazon's fault as they just send your info to Chase to be approved.
Anything you get in the mail is pre-approved stuff and doesnt mean much.
If you do have credit ratings in the 700+ area with all three credit agencies then you are considered to have good credit. However thats not all banks look at when giving credit.
With all the credit crunches lately most banks are cracking down and making more strict approvement policies.
Does amex send you all three reports? If not you should check the others you dont get.
Actually its a chase card with Amazon benefits.
Again its not Amazon's fault as they just send your info to Chase to be approved.
Anything you get in the mail is pre-approved stuff and doesnt mean much.
If you do have credit ratings in the 700+ area with all three credit agencies then you are considered to have good credit. However thats not all banks look at when giving credit.
With all the credit crunches lately most banks are cracking down and making more strict approvement policies.
Does amex send you all three reports? If not you should check the others you dont get.
Ya, all 3. They were IIRC, 770, 752 and 767.
My only downfall is a short Credit History (3 years). However, Chase isn't even a huge major company (big but not major) as others I have. Sucks to that those denial letters dont tell you why.
I think by law they have to tell you why you were declined. Might be a state to state law though.
I remeber my first card I ever applied for was declined by Wamu, and it wasn't stated. Guess ill find out in 30 days if thats changed.
ManOfKnight
11-28-07, 05:14 PM
It is the law that you are able to view your credit report for reasons why you were declined. You will most likely receive it within a week or two.
Also, receiving letters stating you are pre-approved doesn't necessarily mean they will accept you. I know that sounds weird, but it is the truth. The credit cards you are "pre-approved" for may actually be credit cards that have interest rates so high even the Richy Rich could never pay down. I myself have a great credit rating and have low debt to income ratio but cannot get a loan through my local (extremely small) bank to save my life, while others with poor credit can. :(
I wouldn't fret it...30 bucks taken off and another credit card added to your credit file is almost not worth it.
Well, got the letter same day as the card.
Said I had to much unused credit.
insufficient credit history (I am only 21)
and outstanding credit owed on closed accounts.
Last one is rather odd, since the only closed account I have is a savings account which I closed out to put in a CD. I will hvae to check on that, because thats fishy to me.
realtadiquantu
12-04-07, 11:16 AM
I ordered some items of Amazon recently and applied for that card and I was instantly approved. (My scores in the high 700s and I have a 25k Amex and 2k Capitalone).
However, when I went to try again for the business card, they rejected me =)
Well, got the letter same day as the card.
Said I had to much unused credit.
insufficient credit history (I am only 21)
and outstanding credit owed on closed accounts.
Last one is rather odd, since the only closed account I have is a savings account which I closed out to put in a CD. I will hvae to check on that, because thats fishy to me.
Too much unused credit? Never heard that one before. I guess they feel you will be a couch potato and not use the card enough for them to make money.
I have five credit cards atm four of them have no balances. Those banks probably dont like it cause I never use them.
Too much unused credit? Never heard that one before. I guess they feel you will be a couch potato and not use the card enough for them to make money.
I have five credit cards atm four of them have no balances. Those banks probably dont like it cause I never use them.
Ya, they fear that if you have to much unused credit, then you will end up maxing out all the cards and not paying any of it back.
My wife and I have had 3 (still have 2) of those cards. I love the Amazon gift certificates :) Money back the more you spend.
/commercial
Ya, they fear that if you have to much unused credit, then you will end up maxing out all the cards and not paying any of it back.
I dont think thats what they are afraid of. I think they see that a person who has lots of unused credit isnt using his credit cards all that much so the banks make less money.
RJARRRPCGP
12-04-07, 06:57 PM
If you're being denied because of being a being a first time user, then how can you even get one then!
That's like saying that you're denied driver's ed. because you don't have a license!
If you're being denied because of being a being a first time user, then how can you even get one then!
That's like saying that you're denied driver's ed. because you don't have a license!
Been im america long? :bang head
djrussell
12-05-07, 11:40 AM
Well, got the letter same day as the card.
Said I had to much unused credit.
insufficient credit history (I am only 21)
and outstanding credit owed on closed accounts.
Last one is rather odd, since the only closed account I have is a savings account which I closed out to put in a CD. I will hvae to check on that, because thats fishy to me.
banks like to see you use a certain amount of your available credit every month. i think it's something like 20-30%.
even if you pay it off every month and don't acrue any interest, the bank still gets paid. say you buy a $100 item at amazon with your amex card. you pay amex the $100 but they pay amazon maybe $97. when i worked at sears, we were urged to get customers to use cash or sears cards cause we got the most money from the sales.
stereo555
12-05-07, 12:08 PM
Without going into a long discussion , let me tell you in a few words ... you really dont want a card from Chase . After having a a perfect record with them for 7 years and 15k limit ; I got scewed by Chase with a situation that was not my fault and had no control over that cost me DEARLY ! . Chase would not fix the situation and along with that thier customer service just being flat out terrible (out-sourced) ; specialy when compared to better cards such as Discover and Amex . My personal recomendation is to avoid Chase .
djrussell
12-05-07, 12:16 PM
Without going into a long discussion , let me tell you in a few words ... you really dont want a card from Chase .
apparently chase didn't want me to have a card with them. i was going to switch from my citi platinum card to the chase freedom. i applied online but never heard anything about it. guess they didn't want my business.
it probably turned out for the better though since i decided to apply for a home loan a few weeks after that.
Without going into a long discussion , let me tell you in a few words ... you really dont want a card from Chase . After having a a perfect record with them for 7 years and 15k limit ; I got scewed by Chase with a situation that was not my fault and had no control over that cost me DEARLY ! . Chase would not fix the situation and along with that thier customer service just being flat out terrible ; specialy compared better cards such as Discover and Amex . My personal recomendation is to avoid Chase .
Hmm I am now a chase customer after they bought Bank of New York and have three of their cards. One is a circuit city card, another is a chase platinum and the third is a platinum that I had with Bank Of New York that is now a chase card.
Have not had many problems with them so far, but havent had to call them about a problem either.
What exactly did they do that was so bad?
Discover and Amex are not accepted at a lot of places unfortunately.
Without going into a long discussion , let me tell you in a few words ... you really dont want a card from Chase . After having a a perfect record with them for 7 years and 15k limit ; I got scewed by Chase with a situation that was not my fault and had no control over that cost me DEARLY ! . Chase would not fix the situation and along with that thier customer service just being flat out terrible (out-sourced) ; specialy when compared to better cards such as Discover and Amex . My personal recomendation is to avoid Chase .
Oh, I wouldn't of used their card. I would of kept it for a few months, having already paid off the purchased item that came with the card, and eventually cancelled it. I just seen it as a free 30 dollars off ^^.
Discover and Amex are not accepted at a lot of places unfortunately.
Really? I have yet to shop at a place that didn't accept either...
stereo555
12-05-07, 01:04 PM
Hmm I am now a chase customer after they bought Bank of New York and have three of their cards. One is a circuit city card, another is a chase platinum and the third is a platinum that I had with Bank Of New York that is now a chase card.
Have not had many problems with them so far, but havent had to call them about a problem either.
What exactly did they do that was so bad?
Discover and Amex are not accepted at a lot of places unfortunately.
Ok , in short ...
I usually wait for the bill by snail-mail , then pay online with-in a few days . Well my bill came late (3 days late , due to lousy mail service in my area) , so I paid it immediately online , then called Chase cs to explain the situation and that the lateness was not to due to my negligence and asked if this would effect me negatively in anyway . They told there was nothing they could do for me and that my card percentage would change form 6.9% to 24% :mad: . They also told me i'd have to wait a "full year" (12 months) before they would review my situation again and then "MAYBE" the status of my card would be restored back to normal . I tried multiple times to get this cleared up and basically got the same reply each time . I had 10k on the card at the time which translates into about $3k just in interest alone for that year. I continued paying the bill for the next 4-5months this way (on time) , when all of a sudden I noticed my interest rate went up AGAIN , but now to 29.99% ... i sad WTF is going on here . Called Chase again , with them now telling me i was "reviewed" again , and more of a rick to them (being late that ONE time) and that my cards percentage would reflect that . So NOW , that makes almost $4k just in interest alone (during that one year) Iam paying on this card !!!! :mad: .
I evetually had to take out a loan to pay this damn thing off (in full) to avoid paying these ridiculous fees any longer .
I also had a Bankone card at the time with a 6.9% interest rate that was in perfect standing . Chase bought them out during this time and that card too went directly up in interest to 29.99% . I got the same response from Chase again on that one also ; saying i was a high risk due to that one late payment with the other card . I then ended up paying the Bankone off in full immediately !
Too make a long story short ... Chase does not revear their customers , even customers with an outstanding record for years . They wont budge even for the slightest mistake made (your fault or not) . Chase also now out-sources "all" their customer service , which is a REAL pain in the ass in its self , even just to understand ( clear ,verbal words) with these people .
Btw , Chase cards are fairly prevalent online under different store names such as Buy.com , Disney.com , Amazon ,etc . So be careful about what card you think your getting at these places .
*added note:
Due to my continuing terrible snail-mail service in my area , some of my other bills have arrived late also , both for Discover and Amex . Both were paid asap online with no penalties what so ever from both cards ; specially with an excellent payment record . Ive personally gotten calls from both Discover and Amex , with both understanding my situation ; and that a few days late would not have any negative impact (as long as it was not a monthly accurance; which it is not) . Both Discover and Amex have been top-notch with me and will listen to the customer when needed . I contiune to keep my current % rates with both .
djrussell
12-05-07, 01:33 PM
what would they expect you to do if you were just paying by check through the mail? the bill was already late by the time you got it. that's kind of messed up.
as far as the interest rate changing from 24% to 29.99%, that's probably just the default highest interest rate that changes. it's not like a fixed rate mortgage where the rate is locked in. you "blew" your fixed rate of 6.9 (i know i know it wasn't your fault) when that payment was late.
MadMan007
12-05-07, 09:59 PM
stereo555, that situation sucks. I hate to say it but (part of) the lesson from that is not to carry a large balalance :( although of course the 1 time lateness was not your fault.
I have had long-term experience only with Discover and they must have loved me because due to circumstances I had to carry a balance for quite a while.. Anyhow when I got to paying off the balance I called and asked them about the interest rate which had gone up because of a late payment (paid late by a day or two online) They said the APR should have been reviewed automatically but wasn't and I had statements going back 2 years to show this. I called right after making the payment and was told it would be removed but the APR increase went through. Since it was supposed to be reviewed automatically I asked them why it was still so high and they said 'dunno' basically so I got a back adjustment for a the excess interest over a year. It was a few hoops to jump through with followup calls but overall their CS was topnotch.
This was a while ago. Since that I am paying my CC balances in full aside from a 0% APR for which I just set aside the money fr any purchases and will pay off in full before the 0% expires. In fact that card has 0% on cash advances as well I may just max it out and invest the cash, should make more than the advance fee cost.
Aktunka
12-05-07, 11:40 PM
...outstanding credit owed on closed accounts.
Last one is rather odd, since the only closed account I have is a savings account which I closed out to put in a CD. I will hvae to check on that, because thats fishy to me.
What this could actually mean is that the records show that you have closed credit accounts where money is still showing as being owed. Have you ever opened a different charge account to get a discount that was offered for applying for it? I know I have. Get 10% off now if you apply for our store credit card! If you did anything like this previously and then closed it that could be an issue. Maybe they had some service fee you weren't aware of. Maybe your girlfriend bought something with it that you weren't aware of before you closed it. You should be able to see any and all of that in a credit report though.
What this could actually mean is that the records show that you have closed credit accounts where money is still showing as being owed. Have you ever opened a different charge account to get a discount that was offered for applying for it? I know I have. Get 10% off now if you apply for our store credit card! If you did anything like this previously and then closed it that could be an issue. Maybe they had some service fee you weren't aware of. Maybe your girlfriend bought something with it that you weren't aware of before you closed it. You should be able to see any and all of that in a credit report though.
No, amazon would of been the first. I tried for a CC long ago as my first card and was denied but thats it. I am still awaiting my Q4 report.
banks like to see you use a certain amount of your available credit every month. i think it's something like 20-30%.
Actually, what they meant by "too much unused credit" is that he's reached the maximum amount of credit that can be made available to him. If someone makes (hypothetically) $30,000 annually and has a $10,000 revolving credit line, they're about maxxed on how much unsecured credit they can get. Future attempts to get more credit will result in such denials because it's a risk for someone to have more credit than they could pay back if they should suddenly decide to use the credit available to them.
So in other words: We are all "worth" a certain amount of money. Once we exceed that worth we are no longer extended loans because we could get in over our heads and the bank ends up losing money on us.
Banks do not determine what makes for a good credit score. Someone who is responsible with credit makes the banks less money than someone always having a balance and paying interest. But the responsible person with no debt will have a higher score than the interest paying and less responsible credit user. It's all HOW you use credit, and to control how much credit has been given to you. One or two credit cards is more than enough. But most people have numerous credit cards, retail cards, gas cards... plus car loans, mortgages, etc. All of this accumulation of credit eventually reaches the cap for their income.
Actually, what they meant by "too much unused credit" is that he's reached the maximum amount of credit that can be made available to him. If someone makes (hypothetically) $30,000 annually and has a $10,000 revolving credit line, they're about maxxed on how much unsecured credit they can get. Future attempts to get more credit will result in such denials because it's a risk for someone to have more credit than they could pay back if they should suddenly decide to use the credit available to them.
So in other words: We are all "worth" a certain amount of money. Once we exceed that worth we are no longer extended loans because we could get in over our heads and the bank ends up losing money on us.
Banks do not determine what makes for a good credit score. Someone who is responsible with credit makes the banks less money than someone always having a balance and paying interest. But the responsible person with no debt will have a higher score than the interest paying and less responsible credit user. It's all HOW you use credit, and to control how much credit has been given to you. One or two credit cards is more than enough. But most people have numerous credit cards, retail cards, gas cards... plus car loans, mortgages, etc. All of this accumulation of credit eventually reaches the cap for their income.
I think there are exceptions. If this was the full case then anyone who pays on a care (well average person) would cap out just on the car, let alone their house or any credit cards they do own. I am with you though that should have a few (I have 4, 2 which I dont use. Capital one which sucks, and my Bank of America card which has like a 19.9% interest. Dis/Amex are in the 4.5%-6%) Though I do have credit for my car which is 11k still owed, and I only make 27k a year.
But I get the gist of what your saying.
It came today finally. Had a score of 766, 745, 760. No negatives on anything, and I have NO closed accounts. I am now curious as to why Chase said I owed money on a closed account now....
djrussell
12-12-07, 12:56 PM
I think there are exceptions. If this was the full case then anyone who pays on a care (well average person) would cap out just on the car, let alone their house or any credit cards they do own. I am with you though that should have a few (I have 4, 2 which I dont use. Capital one which sucks, and my Bank of America card which has like a 19.9% interest. Dis/Amex are in the 4.5%-6%) Though I do have credit for my car which is 11k still owed, and I only make 27k a year.
But I get the gist of what your saying.
it's not so much the total value of everything you owe on (ie mortgage, car loan, credit cards). that could easily get into the hundreds of thousands. the term of the loan makes a big difference or, to put it differently, the monthly amount that you have to pay. creditors want to make sure you have enough left over each month to pay them too.
petteyg359
12-12-07, 02:30 PM
Someone who is responsible with credit makes the banks less money than someone always having a balance and paying interest. But the responsible person with no debt will have a higher score than the interest paying and less responsible credit user.
Not necessarily true. When my parents got their last credit report, it was lower than it should have been. They asked why and were told that it was because they always pay their balance in full, on time. Apparently keeping some balance on a card (whether or not it is high enough to require interest payments) can raise your score as long as you don't go over limit :)
Not necessarily true. When my parents got their last credit report, it was lower than it should have been. They asked why and were told that it was because they always pay their balance in full, on time. Apparently keeping some balance on a card (whether or not it is high enough to require interest payments) can raise your score as long as you don't go over limit :)
I have never heard that one. Who told them that? The reporting agency or the credit card agency?
Whenever I get my reports it tells you what has a positive and negative impact and paying off the card every month is never on the lists.
If that is the case then there is a huge problem at the reporting companies. Credit card companies shouldnt be giving bad reports for paying off your bill every month.
Edit: Man after doing some searches I found oodles and oodles of complaints about all the credit card companies. Lots of them were having low balances and having the rate jacked up over 25%.
Lets hope the new bills in congress about the way credit card companies conduct business will be passed and make them be more fair/honest.
petteyg359
12-12-07, 02:46 PM
Probably because if you pay off your bill every month in full and on time, they can't make any profit off of you (assuming no annual fee), therefore give you a slightly lower rating.
Probably because if you pay off your bill every month in full and on time, they can't make any profit off of you (assuming no annual fee), therefore give you a slightly lower rating.
Thats what has to be stopped. Paying your card every month should increase your rating as it shows responsibility.
djrussell
12-12-07, 04:06 PM
Probably because if you pay off your bill every month in full and on time, they can't make any profit off of you (assuming no annual fee), therefore give you a slightly lower rating.
not entirely true. you buy an item on credit. you pay your credit card company 100% of the price. they pass on like 98% of that to the store and keep the other 2%. so it's fair to say they don't make as much money if you pay it off monthly. it's not true that they don't make any though.
Its probably more than 2% I would think. More in the 5 - 10% range I would imagine. I think thats one of the reasons you see more than a few restaurants that dont accept credit cards. They dont want to pay for it.
djrussell
12-12-07, 04:39 PM
yeah, i really have no idea how much it is. you get the idea though. at sears, we were instructed to urge the customers not to use non-sears credit cards.
yeah, i really have no idea how much it is. you get the idea though. at sears, we were instructed to urge the customers not to use non-sears credit cards.
Yea, everytime I purchase something at sears they ask if I have a sears card and if I want to apply for one.
djrussell
12-12-07, 05:09 PM
Yea, everytime I purchase something at sears they ask if I have a sears card and if I want to apply for one.
that's actually part of the fairness in lending act or something. we had to ask everyone by law. otherwise it looked like we were judging whether people would get approved or not. that, plus employees get $2/completed application.
Moto7451
12-14-07, 03:06 AM
Not necessarily true. When my parents got their last credit report, it was lower than it should have been. They asked why and were told that it was because they always pay their balance in full, on time. Apparently keeping some balance on a card (whether or not it is high enough to require interest payments) can raise your score as long as you don't go over limit :)
That sounds a bit odd. My parents have kept their credit clean & paid off every month since ~2002 and their credit rating only goes up. The CS rep may have been BSing your parents. What it might have been is if they had applied for any credit or the CC companies checked your parent's credit score which causes a pull on the credit score. The pull is temporary and the points you loose go back after a few months.
WOW!!
I just tried to login to check one of my cards and I wasnt able to. Called them and they said since I had not used my card in over 90 days the account was closed.
WTH???
petteyg359
12-15-07, 12:02 AM
They have no contract to keep an inactive account open. All it does is cost them money.
They have no contract to keep an inactive account open. All it does is cost them money.
DOnt you think they should at least tell you first? Doesnt cost them anything to keep it open...
Hell the only reason i stopped using that card is they kept upping the rate on it for NO reason. My credit was excellent and they still upped my rate to almost 30%...
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