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cc approval with old late payments


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on my wife's credit report shows 2 late payments one in beginning of 19' and the other from 17' as of now her score is 740 with a few old tradelines, no new accounts, no inquiries the last few years.  My question is if the old late payments can be a reason for denial for new applications? Does it depend in the banks? (I wanna apply for Chase).

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This biggest question here is whether the credit score is a FICO 8 from the credit bureau that Chase is likely to pull.


Generally speaking, if Chase sees a 740 on the report it pulls, I would imagine that approval would be likely, though possibly with a limited credit line ($5k or less).


Creditors realize that "spit"happens and modest delinquencies (especially 30 days) don't faze them that much provided they're not recent, are relatively few in number, and recent (2 years) credit behavior isn't questionable.


While I don't have personal evidence for it, I would expect someone like Chase might be more demanding on cards with a high sign up bonus, such as Chase Sapphire Preferred and Reserve.  They likely look for very strong confidence that, if approved, someone won't go into a tailspin within 24 mo.

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Hege is saying that Amex is more likely to look at the totality of the report than a certain score threshold.  I have seen people here with scores in the mid 6s get approved, and others well into the 7s get declined.


As Hege pointed out, a late less than 36 months old is not old, that is still fairly new, and the fact that there was one prior still on the reports as well may get your auto-declined at some of the prime lenders.  You may need to call and ask for reconsideration/manual review, and have a good story as to why it happened and why it won't happen again.


Whatever you decide to do, I wouldn't apply for any card except the one you really want and will derive the most benefits from.  Getting a Chase card to to have a Chase card doesn't make sense.  Also, I would wait until the sign-up offers are better than normal before pulling the trigger.  In these days of 1 bonus for 4 years or one per lifetime, unless there is an overwhelming reason to get the card then it pays to wait.  That, combined with creditors being more strict on number of new cards, etc. makes developing a strategy and sticking to it even more important.

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