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Hi all,
I'm new around these parts so I apologize if this is the wrong thread. Anyhow, I recently earned a credit score of approximately 690 after 6 months of having a credit line established. I applied to 13 different lenders trying to build my credit up and eventually went with Capital One's Secured Card program. I would like to buy furniture from Art Van and I know they use GE for store credit cards. I was declined about 2-3 months ago for an American Eagle credit card which is also GE because I didn't have a legitimate credit score then. I have absolutely no debt, I paid off a good amount and like I said, my credit score jumped up after 6 months. Do you think I'll have a problem getting financed? I don't want them to run my credit report quite yet because I'm considering buying a house, so I don't want to mess that up. Please let me know your thoughts, I greatly appreciate it!
@tylerchester wrote:Hi all,
I'm new around these parts so I apologize if this is the wrong thread. Anyhow, I recently earned a credit score of approximately 690 after 6 months of having a credit line established. I applied to 13 different lenders trying to build my credit up and eventually went with Capital One's Secured Card program. I would like to buy furniture from Art Van and I know they use GE for store credit cards. I was declided about 2-3 months ago for an American Eagle credit card which is also GE because I didn't have a legitimate credit score then. I have absolutely no debt, I paid off a good amount and like I said, my credit score jumped up after 6 months. Do you think I'll have a problem getting financed? I don't want them to run my credit report quite yet because I'm considering buying a house, so I don't want to mess that up. Please let me know your thoughts, I greatly appreciate it!
Welcome to the forum
The score you gave us is it a fico TU? How many INQ's on TU?
And hopefully you know DO NOT apply for any credit until you close on a house ...just an FYI
I have about 14 inquiries on TU since 2011 and 6 or 7 on Experian; I didn't check Equifax. I noticed not all lenders report to all 3 credit bureaus. I know some lenders only care about the last 6 months while others may consider all of them. Moreover, I have a 680 score on TU which was a 620 originally and Experian says I have a 720 now. I plan on applying right after I close.
@tylerchester wrote:I have about 14 inquiries on TU since 2011 and 6 or 7 on Experian; I didn't check Equifax. I noticed not all lenders report to all 3 credit bureaus. I know some lenders only care about the last 6 months while others may consider all of them. Moreover, I have a 680 score on TU which was a 620 originally and Experian says I have a 720 now. I plan on applying right after I close.
YMMV but you have a rather high number of INQ's on TU so it might be a little tough for approval...your score is good though so that's a plus that may help.
Are any of those INQ's on TU over a year old?
5 of those inquires are over a year old actually. Now recently my student loan balance has popped up too for $2700, will this affect my financing or no? I know for others it doesn't matter because it's not really active until 6 months after graduation.
I have Walmart, Sams Club, Amazon, Paypal, QVC, Care Credit, Car Care, Lenscrafters, Old Navy visa and i am pretty sure I am forgetting other GE cards I have. OH!!! I just recently got an HH Greg with a $3500 limit. However, when I applied for the Art Van card I was denied instantly. I swear GE can be real picky when it wants to. They can give me $20 k with care credit but wont give me a furniture card...LOL
What inquiries matter to lenders? Is it all of them or only some within a certain timeframe like 6 months or 1 year?