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I decided to Pre-Qualify for a Credit One CC.....here are my reasons for Denial:
Serious Deliquency and public record or collection
Recent derogatory public record or collection
Delinquency reported on accounts
Too many inquiries
It says my credit score is: 506 Experian.....
So sorry to hear that Cheryla18! :-(
I suggest you post on the Rebuilding Your Credit forums. I suspect you will receive terrific advice. This is definitely the place to come. Good luck!
I was in your situation last year and everyone was telling me to get a secured CC, which I just refused to do.
Orchard Bank approved me for a $300 unsecured CL, and that was my launching point. They got bought out by Capital One, though, so I don't know about that anymore.
Eh..... Was this a surprise to you?
FICO EX 827, 2015 Feb; FICO EQ 836/900 (Citi), 2014 Dec; FICO TU08 818, 2015 Feb.
BofA Cash Rwrds Sig V 2013 10k; Fidelity Rewards AmEx /BofA 2013 15.4k; Chase Freedom Sig V 2002 24.1k; Chase Amazon Rwrds Sig V 2011 8k; Sam's Club MC 2002 10k; Dscvr It 2012 10k; Citi Dvdnd Plat Sel V 2013 8.9k; PenFed Plat Rwrds V 2013 20k; AmEx Blue Sky 2013 11.3k; AmEx BCP 2014 24.1k; Priceline Rwrds Sig V 2013 8.7k; PayPal Xtras GE Cap Plat MC 2012 5k
@Math_Rocks wrote:So sorry to hear that Cheryla18! :-(
I suggest you post on the Rebuilding Your Credit forums. I suspect you will receive terrific advice. This is definitely the place to come. Good luck!
Yes posted it on both.....Thanks...I am in the process....just didn't think i would get hit that hard.....
@oscar_actuary wrote:Eh..... Was this a surprise to you?
Think their underwriting is somewhere in the 520-540 range for minimum floor looking at some data online, but there's a few outliers too so hard to say. May well be the specific derogs or some combination vis a vis any other lender's underwriting policies.
(edit: read wrong score)
@oscar_actuary wrote:Eh..... Was this a surprise to you?
No...I just didn't expect to get beat up so bad....Most of all my CO or public records will fall off in 2015....
@Cheryla18 wrote:I decided to Pre-Qualify for a Credit One CC.....here are my reasons for Denial:
Serious Deliquency and public record or collection
Recent derogatory public record or collection
Delinquency reported on accounts
Too many inquiries
It says my credit score is: 506 Experian.....
Sorry to hear
It sounds like you have work to do on baddies and should step back from the applications. Like another poster has recommended, I agree you should frequent the rebuilding forum and work on resolving your negative information on your files.
Good luck to you!
@oscar_actuary wrote:Eh..... Was this a surprise to you?
Your comment was not exactly friendly or supportive.............
The OP is trying to re-establish credit and unfortunately has realized that the baddies should be focused on first.
@Cheryla18 wrote:I decided to Pre-Qualify for a Credit One CC.....here are my reasons for Denial:
Serious Deliquency and public record or collection
Recent derogatory public record or collection
Delinquency reported on accounts
Too many inquiries
It says my credit score is: 506 Experian.....
Ok, so now you know where you stand. Since Credit One will not approve you, don't waste any more inquiries. Have you tried to send goodwills? Do you have any inaccurate information reporting that you can dispute? Do you have current credit cards in good standing that are building positive history?
I think at this point you need to focus on cleaning up the bad stuff. It will be okay. Time eventually heals and allows for a fresh start