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Valued Contributor
Posts: 1,074
Registered: ‎02-06-2013
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Re: Denied Two Different Cards


Wolf3 wrote:

If you have the funds, add to your secured card limit to get  your $2000 CL that you want.   It can help you get bigger limits in the future, espcially wiht Capital One.   Also suggest you wait until you have a year of CC history before next application.


That is good advice. The other thing about it is that you have 2 grand socked away for when they convert it to an unsecured card or you close the account.

300/21001100/13001500/25001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632.. If youlike this could you please give me a kudo by clicking that blue button over to the left? Thanks.Link to my Rebuild Log
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
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Re: Denied Two Different Cards


dddewdrop wrote:

Wolf3 wrote:

If you have the funds, add to your secured card limit to get  your $2000 CL that you want.   It can help you get bigger limits in the future, espcially wiht Capital One.   Also suggest you wait until you have a year of CC history before next application.


That is good advice. The other thing about it is that you have 2 grand socked away for when they convert it to an unsecured card or you close the account.


Thats a + too if your not strapped for that cash.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
New Contributor
Posts: 72
Registered: ‎02-15-2012
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Re: Denied Two Different Cards


Einjag wrote:

I am confused at the moment. Recently my FICO reached 656, clear background, no late payments. Bankruptcy in 2003 due to unemployment but it cleared from my report in January this year. I rent, have not vehicle loan (paid cash) and no other loans. I have a annual salary of 45k.

 

I have the following Cards:

 

  • Walmart Credit Card - 700.00 Limit/ 105.00 Balance (Opened Nov '12)
  • Capital One Platinum Secured- 400.00Limit/ 0.00 Balance (Opened Aug '12)

So recently I wanted to add at least one more card, so I applied for :

 

  • Capital One Cash Rewards : Denied- Insufficient Credit History
  • Paypal Smart Connect-  Denied Instantly, Reason being mailed. (suspect ICH as well)

I only have one hard hit according to my reports from myFICO and freecreditreport.com (auto loan Ford Motors) .  When I applied for the Walmart Card that I have, I was instantly approved. I did use it at Christmas to about 60% of my limit used, but paid it off January 25th.  Could maxing the Walmart Card been a determining factor although it was paid off almost immediately? Or way the denials due to me not having a longer credit history considering I was given a clean slate. (Oldest card 8 months).?

 

I am just trying to find a way to add a credit card closer to 2000.00 Limit , or should I just remain with my Secured Card and Walmart Card and allow my history to age and quit being so hasty?  Should I add more cards at this time? And If so, what cards could I be approved for considering my history.


There is an excellent service on the web that tells you what type of cards fit your credit profile - it is https://www.creditcards.com/cardmatch/

 

Enter your name and address, and DO NOT enter your social security number.  The system will automatically soft pull on your credit profile and match the cards you'd most likely be approved for.  If the choices are not to your satisfaction, then this would answer your question.  Good luck!   **Just to let you know, I've used this service before, and it is excellent**

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Senior Contributor
Posts: 3,067
Registered: ‎11-02-2009
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Re: Denied Two Different Cards


jumpinjax wrote:

Einjag wrote:

I am confused at the moment. Recently my FICO reached 656, clear background, no late payments. Bankruptcy in 2003 due to unemployment but it cleared from my report in January this year. I rent, have not vehicle loan (paid cash) and no other loans. I have a annual salary of 45k.

 

I have the following Cards:

 

  • Walmart Credit Card - 700.00 Limit/ 105.00 Balance (Opened Nov '12)
  • Capital One Platinum Secured- 400.00Limit/ 0.00 Balance (Opened Aug '12)

So recently I wanted to add at least one more card, so I applied for :

 

  • Capital One Cash Rewards : Denied- Insufficient Credit History
  • Paypal Smart Connect-  Denied Instantly, Reason being mailed. (suspect ICH as well)

I only have one hard hit according to my reports from myFICO and freecreditreport.com (auto loan Ford Motors) .  When I applied for the Walmart Card that I have, I was instantly approved. I did use it at Christmas to about 60% of my limit used, but paid it off January 25th.  Could maxing the Walmart Card been a determining factor although it was paid off almost immediately? Or way the denials due to me not having a longer credit history considering I was given a clean slate. (Oldest card 8 months).?

 

I am just trying to find a way to add a credit card closer to 2000.00 Limit , or should I just remain with my Secured Card and Walmart Card and allow my history to age and quit being so hasty?  Should I add more cards at this time? And If so, what cards could I be approved for considering my history.


There is an excellent service on the web that tells you what type of cards fit your credit profile - it is https://www.creditcards.com/cardmatch/

 

Enter your name and address, and DO NOT enter your social security number.  The system will automatically soft pull on your credit profile and match the cards you'd most likely be approved for.  If the choices are not to your satisfaction, then this would answer your question.  Good luck!   **Just to let you know, I've used this service before, and it is excellent**


I wouldn't put too much stock in this.  I've done it before and had it only return fairly substandard options when I know I am able to get approved for much better cards.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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