@halos24 wrote:
Just thought I would share... I had applied for a Nordstrom store card last week, and I was denied. I received the letter today stating that they denied me for the following reasons:
Too many recent inquiries - my explanation is HSBC has 3 inquiries on EQ all from the same, along with my new cell account from AT&T. I still have another 4 on there and she stated well they still like to see where these accounts stand in a few months which lead to my next argument!
Recent delinquency on retail credit last 2-6 months- I do not have any late in the last 18 months and that was from a capital one loan. The late from any retail is from Target and that is from 2007!!! She was not listening when I told her look I have had Jcpenny for 18 months and never late once!
Insufficient credit history- Yes I know my oldest card is 4.5 years old its a Visa. She was so snobby and rude and said MAM we are not a starter card... like I know that if she looked at my reports I had another 3 cards before I recently got new ones or applied for this one.
Too many high usage revolving credit in last 12 months- I told her that I have a high balance on my VISA but as you can see my husband is a joint owner and that is his partial debt...
I was frustrated because I really believe I had valid responses to overturn the denial but really its like her mind was made up and was not listening!!! How frustrating especially the one of lates on another retail in the last 2-6 months. I almost am tempted to call back and talk to someone else. Thoughts???
Hi halos24! 
The 2nd rule of a solid Recon effort is, 'if at first you don't succeed, hang-up and call again.' BUT, the all important first rule is to look at the denial reasons, and make sure that your Recon effort makes sense for both you, and the lender. The latter, because you're going to have to convince them that it's good for them too if there is a possibility that you can obtain the credit product. Recon isn't just about hoping for a different outcome with the same input. Rather, it's (usually) about convincing the decision-maker that the input isn't telling the whole story, and offering additional information that (possibly) changes how that information is viewed (upon manual review).
1) Too many INQs - No way to get around that one. Eight INQs can make some lenders blink. Does it make sense to recon? Is there any empirical data out there to suggest that Nordstrom is *NOT* (usually) twitchy about a high number of INQs? Some lenders, even if your reports were clean, will torpedo an app for INQs alone (Discover comes to mind). Is Nordstrom one of these lenders?
2) Recent Delinquency on Retail Credit in the last 2-6 months - Did you check your reports? Did you pull them directly from the CRAs? Even if this one isn't entirely accurate you should look for empirical data about the types and severity of delinquencies that Nordstroms has issued cards with. An 18 month old late is still pretty new for some lenders. What explanation can you offer (other than it was 18 months ago), and what assurances can you give that it won't happen with them?
3) Insufficient Credit History - Some lenders have very rigid guidelines for some or all of their credit products. Your oldest card is 4.5 years, but does your overall history demonstrate, to this specific lender's satisfaction, that you can & will handle an account in a way that will make them comfortable? Sometimes, time alone is needed. Sometimes, it's time, and *other* demonstrations of creditworthiness (e.g. having an exist account with at least a $5k limit).
4) Too many high usage revolving credit in last 12 months - High utilization is an app killer! Offering the explanation that (on a joint account) it's not really your debt isn't going to help. It *IS* your debt. A prospective lender want's to know that you are financially able to pay that debt, either by demonstration (paying the debt, and then reconning) or possibly explaining a reasonable plan that you have to pay it off in record time IF you don't have high utilization on your other cards too. If your utilization is high accross the board, you're not likely to convince a lender (in the current environment) to take a chance.
Research not just the minimum scores required for a credit product, but also the credit profile requirements. Some apps just don't make sense, at some times. Sometimes, you figure out what you need to do, in the short-term, to reach the qualification threshold. Sometimes, you just figure out that you have to wait for a bit.
Hope this helps!
I started with the store card when my score was a little lower. Then a year later upgraded to the visa know it has a 13k limit long way from 600 limit store card.
Starting Score: 744Hey guys thanks for the responses feel so much better today, and I am over it. Any ways to answer some of the questions here they go:
Yes, they pulled EQ. No I do not take any of the comments or suggestions personal, I know I am in this mess due to my irresponsibility for almost a two year span, and certainly have learned my lessons. This did not just occur because I lost my job, or I was being irresponsible for no reason there was a personal matter that occurred, but oh well have moved on. Now for the last two years I am just working my way back up and with any luck will close out the Orchard I have soon!!!!
I really appreciate all of the feedback on this site, and cannot say enough how valuable the information available is. I would of been lost and not even been able to get where I am at now with scores over 600 if it was not for this site!!!
Wolleepopolle - too funny I had thought about it, yes it is like a game ... and for now I will sit back and allow the new accounts and my one CU Visa grow. I cannot wait until my Chpt 7 falls off finally in April of 2012. And, to answer your last question I actually do shop there often, I might have bad credit but do have a decent income along with my husband. The last two years it has been cash only and although we do owe that one CU Visa I have learned I need to pay off that sucker!!! But today I realize that opening the card is not even worth me getting upset over for those rewards, oh well will just grow with what I have now and sit back and wait.