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Regular Contributor
YoungMoney06
Posts: 116
Registered: ‎06-26-2011

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

I'm trying to remain patient, but I had so many tell me that in order to get a credit card, or an auto loan, I would need about 2-3 credit cards to get some revolving accounts on my credit report to start improving my score. I have SIX (although I thought I would've had seven inquiries with the credit card HP). Three of them are from 2011, four of them are recent (Sprint, Wells Fargo *not listed as an inquiry*, Amazon and WalMart.)

 

Underwriter suggested calling TU about my credit report and speaking with them about applying for credit, but what is the CA going to tell me?

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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Member
CESEGO
Posts: 24
Registered: ‎11-16-2012

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

Sounds weird the "Indian woman" thing, I was approved 2 weeks ago, 7-10 days message, call backdoor, first with a woman with perfect english, American based I guess, but I don't speak a lot of english, she transfer me to a Spanish csr, ask me 3 ID questions and booom, approved.
Regular Contributor
YoungMoney06
Posts: 116
Registered: ‎06-26-2011

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

I will wait for the letter and see what it says the reason is. The underwriter from GEMB said it has to do with what was on my credit report rather than my recent address change, which I emphasized to him. Only thing on my report is a neg. account from like 5-6 years ago that a collections agency re-aged I believed sometime in 2011. Additionally, I should only have 6 inquiries, 3-4 of them fresh in the last 2 months, and a satisfactory installment account, along with the new Wells Fargo CC I was issued a month ago.

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
rootpooty
Posts: 1,711
Registered: ‎10-28-2011

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

OP I was in your shoes a year ago.  So I opened up 3 secured cc accounts and now I have the limits listed below.  I still do have one last baddie on my reports.  More then likely GE denied you for the following reasons.

The derog account

Too few accounts

Not enough account history

Inquiries.

 

Something along those lines.  If the wells fargo is the only one you have I would add 2 more secured tradelines then hold off for a year then you will be in a much better situation.

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
Regular Contributor
YoungMoney06
Posts: 116
Registered: ‎06-26-2011

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

Just received a letter electronially from GE Capital. Both had the same factors stating why I was denied:

 

SERIOUS DELINQUENCY, AND PUBLIC RECORD OR COLLECTION FILED
NUMBER OF ACCOUNTS PAID AS AGREED
NO RECENT NON-MORTGAGE BALANCE INFORMATION
LENGTH OF TIME REVOLVING ACCOUNTS HAVE BEEN ESTABLISHED

 

As for the serious delinquency, and public record or collection filed... I only have one baddie and that's, again, a collection account that was sent back in 2007 that a new collection agency picked up in 2011 and "re-aged" the debt by making it seem like a recent debt.

 

I have one installment account paid as agreed on my report.

 

No recent non-mortgage balance information... not sure what this means.

 

Length of time revolving accounts have been established. I could've guessed this being one.

 

Obviously, there are quite a few things I could do to resolve these issues, but how do I go about the "re-aging" of an account? Any suggestions on improving my chances of approval next time I apply, or is there a way to receive a recon. Any advice is helpful, having only one revolving account is not helping my score right now, or at least it doesn't seem like it is. :smileysad:

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
rootpooty
Posts: 1,711
Registered: ‎10-28-2011

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

Your beat bet is to just wait till you have a year of account history. A CA can't re age a debt. Check your EQ report and see if the DOFD has changed. Also look at your TU report and see when the account falls off. I got the same denial back when I had 6 mos history and a collection from 2006.
NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
Regular Contributor
YoungMoney06
Posts: 116
Registered: ‎06-26-2011

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

rootpooty: The collection account on my credit report says it will drop off in 2018. However, the original account, from T-Mobile is back from 2007, possibly late 2006. That is why I said the collections company reaged the debt. How would I go about having this disputed or checked into because I refuse to have it on my account until 2018.

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
rootpooty
Posts: 1,711
Registered: ‎10-28-2011

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

Post that question in the rebuilding your credit section and we will help you resolve it
NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
Regular Contributor
YoungMoney06
Posts: 116
Registered: ‎06-26-2011

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

In the midst of the recent denials for GE's cards, is there any other recommendations of unsecured cards I could possibly obtain as a student? I'm interested in getting another tradeline, but don't want to have to deal with potential denial again, and the risk of another inquiry is too high.

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
daybreakgonesXe
Posts: 1,651
Registered: ‎11-17-2012

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


YoungMoney06 wrote:

In the midst of the recent denials for GE's cards, is there any other recommendations of unsecured cards I could possibly obtain as a student? I'm interested in getting another tradeline, but don't want to have to deal with potential denial again, and the risk of another inquiry is too high.


Capital One Journey or Discover More or Open Road Student :smileyhappy: as long as you enter your student information you're nearly guaranteed approval! Journey more so than Discover

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k

EQ FICO 737 TU FICO 746 Credit Karma (TU) 780 Transrisk 816/990 Credit Sesame (EX) 762 Credit.com (EX) 763 VantageScore 3.0 733

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