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New Member
hbarboza
Posts: 8
Registered: ‎04-07-2008

Declined for CAP1 and WAMU with EQ 643 and 658 TU score !

I don't understand.
 
I thought my scores were "fair" but somehow it wasn't enough.
 
No late payments, no collections, no charge off.
 
However, I'm 19 so my credit is quite "young".
 
Any recomendation for cards or any thoughts?
 
I appreciate it!
 
Thanks!!
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Declined for CAP1 and WAMU with EQ 643 and 658 TU score !



hbarboza wrote:
I don't understand.
 
I thought my scores were "fair" but somehow it wasn't enough.
 
No late payments, no collections, no charge off.
 
However, I'm 19 so my credit is quite "young".
 
Any recomendation for cards or any thoughts?
 
I appreciate it!
 
Thanks!!


Don't feel bad, I was turned down by both with scores in the 660s recently.
 
You used the word "fair" to describe your scores. Did you get these from MyFICO?
Moderator Emeritus
Brammy
Posts: 5,436
Registered: ‎03-10-2007

Re: Declined for CAP1 and WAMU with EQ 643 and 658 TU score !

Remember, the scores used by bankcard issuers are more likely NOT the scores you will get here.
New Member
hbarboza
Posts: 8
Registered: ‎04-07-2008

Re: Declined for CAP1 and WAMU with EQ 643 and 658 TU score !

[ Edited ]
Yes, they're FICO scores. I enrolled in the score watch for EQ and TU


Message Edited by hbarboza on 04-07-2008 12:35 PM
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Declined for CAP1 and WAMU with EQ 643 and 658 TU score !



hbarboza wrote:
Yes, they're FICO scores. I enrolled in the score watch for EQ and TU


Just checking...FICO doesn't use the word "fair". IMO, CapOne is a piece of work. I'm happy with my denial. Try applying again. I know WAMU lets you reapply every 90 days.
 
Do you have any CC's now?
Valued Contributor
cobra19
Posts: 1,426
Registered: ‎07-24-2007

Re: Declined for CAP1 and WAMU with EQ 643 and 658 TU score !

hb - that is kinda surprising. Did they give you a reason for the devcline? My sister received a Cap One with a 2.5k cl, and her scores are not as good as yours.
 
 
New York Yankees - 2009 World Series Champions. 27... and counting.....
New Member
hbarboza
Posts: 8
Registered: ‎04-07-2008

Re: Declined for CAP1 and WAMU with EQ 643 and 658 TU score !

[ Edited ]
Oh no- I said "fair" because I was under the impression that I had good credit! haha not FICO's wording but my own. I feel horrible now.
 
Yeah, I have a credit card but it's $150 with First Financial.
 
The only negatives is that my CRA is showing the balances close to the limit
 
MACYS- $200
BLOOMG - $300
1rst Financial - $150
 
CURRENT BALANCE ON ALL ACCOUNTS $340
 
My oldest account is 9 months.
 
Fico says this is hurting my score...
 
You have a short credit history.
You've made heavy use of your available revolving credit.  (I went over the limit twice).
The balances on your non-mortgage credit accounts are too high.
You've recently been looking for credit.  ( 2 inquiries!!!).
 
Fico says this is helping my score....
 
You have no missed payments on your credit accounts.
You've been responsibly limiting the number of your credit accounts that carry balances.
 
P.S. my sister just added me as an authorized user on her BOFA card and I'm planning to pay all my balances this week.


Message Edited by hbarboza on 04-07-2008 12:51 PM
Moderator Emeritus
Brammy
Posts: 5,436
Registered: ‎03-10-2007

Re: Declined for CAP1 and WAMU with EQ 643 and 658 TU score !

The point is that the scores you see here on this site and EQ are what are called the clasic FICO scores.  Most banks use a bankcard score to issue credit cards which can vary greatly.
New Member
hbarboza
Posts: 8
Registered: ‎04-07-2008

Re: Declined for CAP1 and WAMU with EQ 643 and 658 TU score !

Yes, I've never used bank card scores.
 
I purchased the scored today from FICO. They're not FAKO scores.
Moderator Emeritus
Brammy
Posts: 5,436
Registered: ‎03-10-2007

Re: Declined for CAP1 and WAMU with EQ 643 and 658 TU score !



hbarboza wrote:
Yes, I've never used bank card scores.
 
I purchased the scored today from FICO. They're not FAKO scores.


The Bankcard FICO is also a FICO score not a FAKO.  It is just a different version...  There is a 50 point difference between my TU FICO classic and my Bankcard score... Let's not even go into the bankruptcy risk score.


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