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Regular Contributor
Posts: 116
Registered: ‎06-26-2011
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Re: Applied Two GE Cards... Wal-Mart & Amazon

Anyone have tips on what I may have did wrong, or did I do everything right and just should accept the "denial" because the system says so?

 

My Wallet: WF College Card ($1.7k); GE Wal-Mart ($1.3k); GE Amazon ($1.9k); Chase Freedom ($1k); Citi Simplicity ($2k); Discover IT ($2k); CareCredit ($1.5k); GE Lowes ($2.5k) -- In The Garden 'Til 08/2014

Current Scores: EQ 716; TU 683; EX: 709; TU(08): 723 - As of April 21, 2014
Goal Score: 700 Across the Board (TU, EQ, EX)


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Valued Contributor
Posts: 2,424
Registered: ‎03-15-2012
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Re: Applied Two GE Cards... Wal-Mart & Amazon

Any current revolving cards on your reports, that show more than a few months payment history?
Regular Contributor
Posts: 116
Registered: ‎06-26-2011
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Re: Applied Two GE Cards... Wal-Mart & Amazon

Unfortunately not, I do have a new Wells Fargo College Student credit card that just reported this month, however, I've only had it for about a month now. Smiley Sad

My Wallet: WF College Card ($1.7k); GE Wal-Mart ($1.3k); GE Amazon ($1.9k); Chase Freedom ($1k); Citi Simplicity ($2k); Discover IT ($2k); CareCredit ($1.5k); GE Lowes ($2.5k) -- In The Garden 'Til 08/2014

Current Scores: EQ 716; TU 683; EX: 709; TU(08): 723 - As of April 21, 2014
Goal Score: 700 Across the Board (TU, EQ, EX)


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Valued Contributor
Posts: 2,424
Registered: ‎03-15-2012
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Re: Applied Two GE Cards... Wal-Mart & Amazon

GEMB is weird. They love you out of the app gate, or treat you like a red headed step child. Try again after four months of current card usage.
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Regular Contributor
Posts: 116
Registered: ‎06-26-2011
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Re: Applied Two GE Cards... Wal-Mart & Amazon

I see that...they just drop kicked me in my throat. And what sucks even more is that now I got two hard pulls with no benefit from it. Friggin' terrible, now I have a total of 6 inquiries and will have to get those two HP'd again in four months. Thanks...

My Wallet: WF College Card ($1.7k); GE Wal-Mart ($1.3k); GE Amazon ($1.9k); Chase Freedom ($1k); Citi Simplicity ($2k); Discover IT ($2k); CareCredit ($1.5k); GE Lowes ($2.5k) -- In The Garden 'Til 08/2014

Current Scores: EQ 716; TU 683; EX: 709; TU(08): 723 - As of April 21, 2014
Goal Score: 700 Across the Board (TU, EQ, EX)


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Contributor
Posts: 139
Registered: ‎07-31-2012
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Re: Applied Two GE Cards... Wal-Mart & Amazon

I recently went on an app spree for 4 cards (walmart, sears, home depot, amazon visa) and got 2 approved instantly (sears and walmart) and the other 2 (amazon visa and home depot) 'denied' (more like on hold until I verified some information through the phone or mail/fax. I immedately called HD and they told me to wait for the letter (not sure if it is necessary as they should have your info through your SSN#, name, address, etc.) I called after receiving the letter and verified information and was approved. 

 

I believe my problem was that I had a 'thin' file. I only had 2 CCs at the time and one installment loan that was fairly recent. You may be on the same boat and only need to confirm identity information. 

 

You can either: 1) wait for the letter and proceed from there depending on the reason they denied you or 2) call to verify status and if told that it is denied then try for a recon. If you can't get the cards then verify what is wrong with your credit, fix it and try again once the inquiries fall off.

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
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Re: Applied Two GE Cards... Wal-Mart & Amazon

Call underwriting and ask for a reconsideration.  Should be a soft pull still. It sucks to hear no, and this still may not work, but it definitely won't work if you don't try

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Regular Contributor
Posts: 116
Registered: ‎06-26-2011
0

Re: Applied Two GE Cards... Wal-Mart & Amazon

The inquiries will not fall off for two years. Must I really wait that long?
My Wallet: WF College Card ($1.7k); GE Wal-Mart ($1.3k); GE Amazon ($1.9k); Chase Freedom ($1k); Citi Simplicity ($2k); Discover IT ($2k); CareCredit ($1.5k); GE Lowes ($2.5k) -- In The Garden 'Til 08/2014

Current Scores: EQ 716; TU 683; EX: 709; TU(08): 723 - As of April 21, 2014
Goal Score: 700 Across the Board (TU, EQ, EX)


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Regular Contributor
Posts: 116
Registered: ‎06-26-2011
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Re: Applied Two GE Cards... Wal-Mart & Amazon

Another one bites the dust... Amazon, DENIED! Wow, what a rough 24 hours. Guess I let my approval of one credit card go to my head and will be gardening to avoid from excessive inquiries, just to be denied. Neither was able to tell me why I was denied, but that the letter would come in the mail 7-10 days.

 

Thanks for everyone's help anyway, and Amazon's denial came from the underwriters.

My Wallet: WF College Card ($1.7k); GE Wal-Mart ($1.3k); GE Amazon ($1.9k); Chase Freedom ($1k); Citi Simplicity ($2k); Discover IT ($2k); CareCredit ($1.5k); GE Lowes ($2.5k) -- In The Garden 'Til 08/2014

Current Scores: EQ 716; TU 683; EX: 709; TU(08): 723 - As of April 21, 2014
Goal Score: 700 Across the Board (TU, EQ, EX)


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Contributor
Posts: 139
Registered: ‎07-31-2012
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Re: Applied Two GE Cards... Wal-Mart & Amazon

[ Edited ]

Inquiries completely 'fall off' in 2 years, but they are not counted for FICO after 1 year. You don't have to wait for the whole 1 year if you don't have many inquiries, but patience is the key to success when dealing with credit. I did try for new credit 6 months after a denial, but had only 1 recent inquiry because the older inquiries had reached the 1 year mark.

Edit: I also used my available cards (2) with the intent of getting new credit soon. I kept util at 10% or less and kept alternating between cards as I wanted the CCC to see usage so I could get CLIs and never missed payments.

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries
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