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

New Member

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

Ok So the score from scorewatch and quaterly monitoring from myfico.com is not the same as if I were to purchase the FICO for each CRA  for $15 ?
 
I'm so confused. I'm sorry.


Message Edited by hbarboza on 04-07-2008 01:24 PM
Message 11 of 21
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Moderator Emeritus

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

No, any score you purchase on this site is going to be thh 'Classic FICO'.  That however may not be the version of the score used by your lender.  More than likely the score here will match for any mortgage applications.  However, there are sores designed to predict repayment n different types of loans, ALL sold by FICO to lenders but none sold to the consumer but the classic.  There is Bankcard (how well you may do paying off credit cards), Auto-enhanced(whether you're likely to go bad on car payments),  Beacon 5.0 (WTH knows?), Bankruptcy risk (Will you or won't you file BK)
Message 12 of 21
New Member

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

Oh lord! I wasn't even aware of this! Smiley Sad
 
I think I ought to wait at least until my credit history is 1.5 yr old to even apply.
 
My dreams are crushed.
Message 13 of 21
Moderator Emeritus

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

Dont be crushed, just start with a builder card.
Message 14 of 21
New Member

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

Is a builder the same as a secure?
 
Now, which lenders offer builder card?
 
I was turn down today by WAMU and CAP and BOFA didn't have any pre-approved offers for me.
Message 15 of 21
Moderator Emeritus

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

No - you just need to pay those balances down-
They are hurting your score and high UTL scares WAMU.
Message 16 of 21
Established Contributor

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

You're to young to have crushed dreams over a 9 month wait to re-aply. Get the util down on your 3 little cards and app when all are over a year old and I think you'll be amazed at what you can do.
Being young, Keep that util DOWN!
I think your thinking is on the right track. Good luck.

hbarboza wrote:
Oh lord! I wasn't even aware of this! Smiley Sad
 
I think I ought to wait at least until my credit history is 1.5 yr old to even apply.
 
My dreams are crushed.



1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Message 17 of 21
Contributor

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

yea...they will not issue you a card with high util on the cards you already have....it makes you look desperate for credit....I would apply in like 2 months after you get them down to 10 percent util and you should have no problem getting approved...its a numbers game....you just have to find the sweet spot!!!
Having credit is important if not more important than having cash!!!
Message 18 of 21
Established Contributor

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

you have two things working against you:

1. high balances: this is absolutely killing you. you look like you are maxed out on all of your cards.

2. young credit history: only time can fix this.


i'd recommend that the first thing you do is get all of your balances down to under 10% of your total credit line and keep them there. secondly, wait until your history is at least a year old then app for cards that are specifically for people who want to build credit history. Capitol One has these, or if you are in school your might want to try the student cards.

good luck
____________________
FICOs: (as of 12-10-08): EX 759 | (as of 01-24-10): EQ 794 TU 756 EX ? | (as of 3-17-11): EQ 794 TU 790 EX ?

Until Chase lowers my ridiculously high APR they can kiss my patootie! Their card has been retired to the sockdrawer. Smiley Mad
Message 19 of 21
New Member

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

Just an update... CAP1 didn't deny me, they actually approved me for $300 CL and so did Orchard. Haven't received the denial letter from WAMU yet.
Message 20 of 21