Hello fellow MyFICOers...
A bit bummed that I was just denied for the Discover IT. Called the back door number and 3 former CO's that were recently updated as paid by each OC are the reason for the denial. I paid each of them 1-2 years ago but when I recently pulled my report I noticed that it did not show up as paid. Contacted each OC, had them update to paid, and when I pulled my reports again they were updated to "paid charge off" or some variation thereof in the status line. Hoping you guys can help me with recommendations for next steps. Here's my profile:
EQ 684 (FICO), 3 inq's (now 4)
TU 708 (FICO), 1 inq
EX 1 inq
AAOA 7 years
3 baddies (all paid) - won't be aging off for another year or so
1 Rev account - BOA 321 CR $2500 - started as $500 secured 8/2012. Unsecured 8/2013 and CLI'd. PIF every month. Run $600-$1000 through it monthly (auto-paying bills which is why sometimes my util is higher). Always keep reported util to less than 25%.. Lower if trying to maximize score. (yes, I know 1-9% is better)
Car loan - 7/2012 - pay on time every month
Student loans - pay on time every month. Some of these date back to the early 2000's
Income 55k
My original plan was to get the Discover IT, request a CLI on the BOA, and ask if they'd use the same HP to app for the Travel Rewards card. According to the Discover analyst I should wait 45 days and app again but I've been deliberate in keeping my inq's low and not apping frivolously to increase my chances for the cards I actually do want. Don't want to waste another HP if my report looks the same. I'm apping because I would like to decrease util, thicken my credit profile, and most importantly would love to take advantage of a 0% intro offer since I have two large purchases to make that are necessities, not wants. I know I have a long way to go but the only other card I really want is the BCP so I'm working diligently toward that.
Should I call and try to recon again or leave it alone? Should I even bother with my BOA requests? Please help! Feeling a bit discouraged and I'll gladly take any advice I can get.
TIA!
A bit bummed that I was just denied for the Discover IT. Called the back door number and 3 former CO's that were recently updated as paid by each OC are the reason for the denial. I paid each of them 1-2 years ago but when I recently pulled my report I noticed that it did not show up as paid. Contacted each OC, had them update to paid, and when I pulled my reports again they were updated to "paid charge off" or some variation thereof in the status line. Hoping you guys can help me with recommendations for next steps. Here's my profile:
EQ 684 (FICO), 3 inq's (now 4)
TU 708 (FICO), 1 inq
EX 1 inq
AAOA 7 years
3 baddies (all paid) - won't be aging off for another year or so
1 Rev account - BOA 321 CR $2500 - started as $500 secured 8/2012. Unsecured 8/2013 and CLI'd. PIF every month. Run $600-$1000 through it monthly (auto-paying bills which is why sometimes my util is higher). Always keep reported util to less than 25%.. Lower if trying to maximize score. (yes, I know 1-9% is better)
Car loan - 7/2012 - pay on time every month
Student loans - pay on time every month. Some of these date back to the early 2000's
Income 55k
My original plan was to get the Discover IT, request a CLI on the BOA, and ask if they'd use the same HP to app for the Travel Rewards card. According to the Discover analyst I should wait 45 days and app again but I've been deliberate in keeping my inq's low and not apping frivolously to increase my chances for the cards I actually do want. Don't want to waste another HP if my report looks the same. I'm apping because I would like to decrease util, thicken my credit profile, and most importantly would love to take advantage of a 0% intro offer since I have two large purchases to make that are necessities, not wants. I know I have a long way to go but the only other card I really want is the BCP so I'm working diligently toward that.
Should I call and try to recon again or leave it alone? Should I even bother with my BOA requests? Please help! Feeling a bit discouraged and I'll gladly take any advice I can get.
TIA!
Sorry for the denial. Discover is a conservative lender and having multiple COs reporting will be difficult. Keep in mind, paid or unpaid a CO still is a derog. If you just received the CLI for BoA you might want to wait so the next hp will be worthwhile.
With your profile I would definitely recon. I'm a little puzzled why you were denied in the first place. At least getting an analyst on the line would give you the chance to explain any issue they're seeing.
Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
New goal 675
Ditto to what starry1. I had some (2) public records that were paid but showing as unpaid when I got approved, and yours are a little older than mine. Def. get them on the phone.
BUSINESS 
If it's a computer denial -Discover will not recon.
What were the reasons for denial?
Thanks everyone. Like 09Lexie said, I think it was a computer denial which is probably why the analyst said there's nothing that can be done. The specific reason for denial was the 3 CO's and the fact that they said "paid charge off" - the analyst said if it said paid without the charge off it would likely have gone through. It sucks, but it is what it is. I'll call again tomorrow but definitely not optimistic. After that I'll just contact the OC's and see if there's anything they can do so at least I don't run into this issue again. I won't be apping for anything anytime soon.
Also, even though I mainly posted for recommendations, I also wanted to share that despite all the app sprees and approvals mileage definitely varies in these types of situations. I hope this is helpful to someone...