11-17-2009 12:24 PM
I was invited to apply for this card (US Bank) through a promotion through Harley Davidson. What a waste of an inquiry. I received the 7-10 day note after applying online and then received an email from them telling me that I was declined and a letter will be sent to me stating the reason for the decline. They pulled Equifax.
I was curious about why I was turned down for the card with a FICO score of 714 (Equifax). No lates, no collections, 1 installment loan with low balance, 3 credit cards reporting all in the good standing with utilization at 1%, no bankruptcy, no liens...the only thing I can figure is too many inquiries. I have 4 recent inquiries (BMW financial pulled twice within 3 days, Citi pulled once for a request for CL increase and a tenant screener pulled once because I'm moving). I have a total of 6 inquiries about 1 year old and 2 inquiries coming up on the 2 year mark about mid-December and will fall off.
I called US Bank today for a recon and was able to get them to resubmit with the additional information and explanations of the number of inquiries in my Equifax report. We'll see if that works.