First Flat Out Denial in A While

[ddemari]

I am used to the application requires further processing message get back to me in 30 days or receiving a store card instread of synchrony bank visa or mastercard lol.

I applied for Saks Credit Card, I knew I probably shouldn't have because I have too many CapitalOne credit cards and a Neimans Credit Card. 

I have 5 capitalone mc/visa cards when I opened Neimans putting me at 6 cards. So I thought it was a grey area thing maybe with capitalone especially with the retail cards. I knew they were going to pull TU, my inquiries are down to 10 (which is LOW for me) and it took about 20 seconds to spit this out to me. 

Worth a recon? 

 

[kdm31091]

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@ddemari wrote:

I am used to the application requires further processing message get back to me in 30 days or receiving a store card instread of synchrony bank visa or mastercard lol.

I applied for Saks Credit Card, I knew I probably shouldn't have because I have too many CapitalOne credit cards and a Neimans Credit Card. 

I have 5 capitalone mc/visa cards when I opened Neimans putting me at 6 cards. So I thought it was a grey area thing maybe with capitalone especially with the retail cards. I knew they were going to pull TU, my inquiries are down to 10 (which is LOW for me) and it took about 20 seconds to spit this out to me. 

Worth a recon? 

 

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First of all, depending on your file and history, 10 inquiries could still be quite a lot, so down to 10 may not cut it. If you have a long and thick file, it may not be a big deal.

You could simply be at your exposure limit with Capital One. There's nothing wrong with an attempt at recon although Capital One isn't known for recons really.

[ddemari]

I feel it is an exposure reason, I mean it could be because of new accounts. when I approved for neimans I had 28 inquiries. My TU fico is 728, no derogs. 

[Anonymous]

I have 3 Cap One cards and the Saks card!  Wanted to app for Neiman's as that is where I buy my handbags & sunglasses but was afraid to because of Cap One & all I have with them right now.  Can I ask how long you had your Neiman's card?  I was going to wait a year before attempting it.  

[ddemari]

Neimans is only 3 months old. 

[FinStar]

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@ddemari wrote:

Neimans is only 3 months old. 

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Regardless if under the same umbrella, this is their private lable division.  And, they pretty much have the same underwriting criteria (a la Capital One of course) as they did back with HSBC.  The same applies for NM, Menards and their other private label CCs.  Has nothing to do with exposure.

Reconsideration will not work unless it's a verification issue.  Of course, you are welcome to try but it will not be fruitful.  Not to damper your spirits but you already know this from recent apps not coming to expectations (recent store card vs MC).  Creditaddict was unsuccessful in his reconsideration efforts with Saks.  Just being realistic.

[longtime_lurker]

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@FinStar wrote:

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@ddemari wrote:

Neimans is only 3 months old. 

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Regardless if under the same umbrella, this is their private lable division.  And, they pretty much have the same underwriting criteria (a la Capital One of course) as they did back with HSBC.  The same applies for NM, Menards and their other private label CCs.  Has nothing to do with exposure.

Reconsideration will not work unless it's a verification issue.  Of course, you are welcome to try but it will not be fruitful.  Not to damper your spirits but you already know this from recent apps not coming to expectations (recent store card vs MC).  Creditaddict was unsuccessful in his reconsideration efforts with Saks.  Just being realistic.

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I remember that ordeal through the posts he made on it. Jesus, if I had the money to regularly shop at Saks, I still wouldn't apply for that CC with all of the runaround CA got.

[ddemari]

Interesting, i thought it had to do with having over 5 capitalone cards but i didnt see that on the fine print so ya it was a we dont u denial. Thanks for the info!

[FinStar]

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@ddemari wrote:
Interesting, i thought it had to do with having over 5 capitalone cards but i didnt see that on the fine print so ya it was a we dont u denial. Thanks for the info!

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No, not really as far as the total count.  I have NM, Saks (WEMC & Store), Menards, Venture WEMC, QS VS, QS WMC (I used to have a couple more but they're closed now), Yet, it's never been the relative number of CCs IME.

[Anonymous]

I would wait another 3 months or even 6 and try again.  With so many banks financing the store cards, they should matter less than a major card.  We know how long the list goes for Comenity/Sychrony.  I think it's too soon.  I won't give up on Neiman's.  That's on the top of my retail list!