11-27-2012 12:57 PM
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?
11-27-2012 01:19 PM
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.
11-27-2012 01:24 PM
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...
11-27-2012 01:24 PM
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.
11-27-2012 01:47 PM
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
|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
11-27-2012 02:17 PM
11-27-2012 02:34 PM
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.
11-27-2012 02:37 PM - edited 11-27-2012 02:44 PM
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.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.