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Credit Card Approval Pot Luck

New Member

Credit Card Approval Pot Luck

Maybe someone on the forum with more experience than I can help.  I have worked hard for a few years now to get my credit to where it used to be.  I have recently began applying for cards and have gotten approved; however, I don't understand how I can get an approval for one GEMoney credit card and not another (Carpet One vs JCP), same holds true for an approval with Kohl's (Cap One) and not for Best Buy.  If anyone can shed some light, I would appreciate it.

Message 1 of 6
5 REPLIES
Frequent Contributor

Re: Credit Card Approval Pot Luck

The game we play is random.

 

Different companies have different criteria.  

My Wallet:
AMEX Platinum | Discover It $20.3k | Chase Sapphire Reserved $16k | Chase United $12k | AMEX SimplyCash Plus Business $11.6k | AMEX Schwab $9k | AMEX BCEP $8.2k | Citi Costco Anywhere Visa $8k | Chase Amazon Visa $8k | Chase Sapphire Preferred $7k | Chase Freedom $5k | Citi Simplicity $5k | Paypal Extras Platinum $5k | Wells Fargo $5k | Citi Best Buy $4.2k | Citi Visa Signature $3k | Care Credit $3k
Message 2 of 6
Contributor

Re: Credit Card Approval Pot Luck

+1.   Also, each time you apply, at least one of your reports takes a hard inquiry and maybe a new trade line. This will usually lower your score, at least temporarily. Then there is your average age of accounts; that can also be lowered which may also cause you to lose a few more points. All of this is factored in, that's usually why many people say to only apply for credit that you need or at least only the cards you will actually use. Good luck. Rebuilding can be frustrating, but the "Reaping the Rewards" stage will last a lot longer than the Rebuilding stage does. ;-)

Message 3 of 6
Established Contributor

Re: Credit Card Approval Pot Luck

+1

Message 4 of 6
Frequent Contributor

Re: Credit Card Approval Pot Luck

I got a JCPenney card before I could get a Old Navy....wanted a Gap around that sane time as well and couldn't get it. Now I got what I wanted

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Current Score: 670
Goal Score: 700


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Message 5 of 6
New Member

Re: Credit Card Approval Pot Luck

So the key here is patience...How long should I wait before re-applying?

Message 6 of 6