I applied for the Marriott Visa Rewards card, issued by Chase Business Card Services.
My application was denied with the following explanation:
"Repeatedly alternating between carrying and paying a balance in full during the last 24 months."
I called them up and asked them if this means that I am not creditworthy if I pay my balance off every month and their answer was "I don't know, you have to talk to your personal banker about this." I went to my branch, asked my personal banker and again, it was "I don't know."
Obviously this is so rediculous that Chase employees are reluctant to comment this. What I believe is that this is not about creditworthyness but about profit. It looks like Chase is not interested in customers who don't pay any interest. Chase should make this clear when offering credit cards and print a statement like "Do not apply if you pay your balance off every month because we will decline your application." Letting people apply despite this policy only lowers their credit scores unnecessarily. I will file a complaint with the Comptroller of the currency.
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