Let me start out by fully disclosing my situation. I am new to credit cards, but was fortunate enough to have a parent put my name on their account at a very young age. The parent used the card responsibly for 5 years before I first applied for a card, so my credit rating was great! I began to apply for cards, and each time I applied for a card and was approved, I found one with even better rewards!
Now I'm at the point where I've sowed my wild oats, so to speak, and am ready to settle down with a nice gir--...er...credit card. At this point I've got a Costco True Earnings American Express, which I love, and a Citibank Dividend Platinum Select Mastercard. I just recently transferred all of my accounts to Fidelity, including checking and savings.
*As a side note, Fidelity is the best in terms of rates, service, and overall quantity and quality of products and services offered
Anyways, I wanted to get the Fidelity credit card so as to have a monogamous banking relationship with Fidelity...with an American Express on the side! Anyways, the Fidelity credit card is offered by FIA Card Services, which is a subsidiary of Fidelity. On various credit card websites that the card is listed on, it is noted that "Good" credit is required (660-749). One such website is the following:
http://www.creditcardflyers.com/fia-card-services.php
My credit scores average 710, yet I was still denied! What gives? I know I've had several inquiries recently, but I figured that those would be reflected in my decreased credit scores (they were 30-40 points higher about a year ago before all of my inquiries). Do they look at your credit score and then on top of that heavily weight the fact that you've, for example, had 8 hard inquiries in the past year?
Thanks for any advice.