All of a sudden DECLINED by Credit One

[orestrus]

In the first 2 - 3 months of my credit journey I was checking cred 1 site for pre qualifications. At that time I was denied for "insufficient credit history". Then for a month I was getting pre approved offers..Today they declined me with the following reasons "

Your credit score: 708
Date: 04/01/2015 
Scores range from a low of 300 to a high of 850

Key factors that adversely affected your credit score:

• The date you opened your oldest account is too recent
• Lack of sufficient credit history
• Lack sufficient real estate account information
• You have too many accounts that were recently opened
• The number of inquiries was also a factor, but the effect was not significant"

My history is only 5 months old, where did that score come from? Is this a real FICO score??

[Anonymous]

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@orestrus wrote:

In the first 2 - 3 months of my credit journey I was checking cred 1 site for pre qualifications. At that time I was denied for "insufficient credit history". Then for a month I was getting pre approved offers..Today they declined me with the following reasons "

Your credit score: 708
Date: 04/01/2015 
Scores range from a low of 300 to a high of 850

Key factors that adversely affected your credit score:

• The date you opened your oldest account is too recent
• Lack of sufficient credit history
• Lack sufficient real estate account information
• You have too many accounts that were recently opened
• The number of inquiries was also a factor, but the effect was not significant"

My history is only 5 months old, where did that score come from? Is this a real FICO score??

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Why were you applying for this.

[orestrus]

I wasnt applying, these was pre qualification 

[orestrus]

How these can possibly be my score if my first card was issued in  November??

[Anonymous]

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@orestrus wrote:

How these can possibly be my score if my first card was issued in  November??

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It's possible.

[Anonymous]

Eww credit one, aren't they owned by a collection agency?

[orestrus]

So that means I have FICO with Experian now?

[orestrus]

Guys, I just want to know that these is my real FICO score)

[Anonymous]

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@orestrus wrote:

I wasnt applying, these was pre qualification 

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For them to deny you, and give those reasons, you would have had to act on the pre-qual by applying.

That said, it's universally accepted that CreditOne should be avoided at if at all possible. Ridiculous APRs, low limits, ridiculous annual fees, and archaic payment capabilities (you are limited to 4 payments a month, so you can't even churn the card by maxing it and paying it off prior to statement cuts. Not that churning would even be beneficial - the card doesn't come with any rewards.)

Your scores are possibly as high as they are because you have a very limited history that's been good this far.

Continue paying on your obligations on time, and more than the minimum if not in full on your credit cards. Give it another 6 months, then try for the Capital One Quicksilver (and maybe check out the Discover pre-qual.) You'll be much better off letting a little time work in your favor than begging for credit with Credit One. You should be relieved they denied you. It will save you a lot of headaches!

[Anonymous]

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@orestrus wrote:

Guys, I just want to know that these is my real FICO score)

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You could purchase them and find out.