The marquisate was awarded on 15 October 1507 by Queen Joanna I of Castile.
The awarded title of Grandee of Spain was given to the Fajardo family in 1520 by her eldest son, King Charles I of Spain.
The first to hold the title was Pedro Fajardo, the first son of Luisa Fajardo y Manrique who, in 1477, had married a powerful Royal accountant and financier named Juan Chacón, a new nobleman jure uxoris.
Luisa Fajardo y Manrique, Lady of Cartagena, came from an important military family, with institutional powers over conquered Muslim lands in Murcia, Granada and Almeria.
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