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
Financed car @ 5.49% w/ DCU, Added DCU VIsa, Chase Freedom,
AMEX Gold and BCE, Lowe's
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.
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