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Frequent Contributor
WallyxD
Posts: 273
Registered: ‎10-02-2012
0

Re: UPDATE


bs6054 wrote:

WallyxD wrote:

It's official, I'm done for a while. I applied for the Discover It for Students and got denied. The reasons were 1.) Number of inquiries in the past 24 months. 2.) Insufficient history for bank revolving trades. 3.) Number of inquiries in the past 6 months.

 


Interesting!   I thought that there was recent agreement here that issuers only cared about the last 12 months (even though we know they are on the credit report for 24 months).  So it looks like at least one does care.


It really does suck that they happened to pull TU which is by far my most 'crowded' report. -_-. If they had pulled EQ, I'm sure I would've been fine, but I couldn't really expect that as nothing's gone my way the past month.

AE Store CC: $850 | AEO Visa: $2,300 | CapOne Quicksilver: $1,700 | Citi Forward for Students $1,500 | Walmart CC $1,350 | Chase Amazon: $500 | PayPal Smart Connect: $500 | Discover iT for Students: $500 | Chase Freedom: $500

Gardening until util 30%
TU Fico: 652 (3/11/14)
Frequent Contributor
WallyxD
Posts: 273
Registered: ‎10-02-2012
0

Re: UPDATE


Revelate wrote:

bs6054 wrote:

WallyxD wrote:

It's official, I'm done for a while. I applied for the Discover It for Students and got denied. The reasons were 1.) Number of inquiries in the past 24 months. 2.) Insufficient history for bank revolving trades. 3.) Number of inquiries in the past 6 months.

 


Interesting!   I thought that there was recent agreement here that issuers only cared about the last 12 months (even though we know they are on the credit report for 24 months).  So it looks like at least one does care.


I'm getting confused in my old age; I thought the commonly held answer was it depends on lender and possibly even borrower too.  I suspect most only care about 12, but anything on the credit report is fair game and presumably they've run metrics againt their portfolio performance based on this number at some point.

 

Wally was that the first reason listed?  i.e. is your list in the same order as theirs?  #2 I sort of get as the traditional underwriting criteria has been one year on a revolving tradeline, but if that order is legit, I'm rather surprised #1 is there vs. #3 in terms of the ranking.

 


Yepp that's the first reason listed, my list is how their list was. I was just as surprised when I saw the 24 month inquiry comment, because I thought only the inqs that still affected the score went into their decision, and not inqs due to fall off in the matter of 6-7 months.

AE Store CC: $850 | AEO Visa: $2,300 | CapOne Quicksilver: $1,700 | Citi Forward for Students $1,500 | Walmart CC $1,350 | Chase Amazon: $500 | PayPal Smart Connect: $500 | Discover iT for Students: $500 | Chase Freedom: $500

Gardening until util 30%
TU Fico: 652 (3/11/14)
Frequent Contributor
WallyxD
Posts: 273
Registered: ‎10-02-2012
0

Re: UPDATE


CredittotheMax wrote:

WallyxD wrote:

CredittotheMax wrote:

You should still call for a recon and ask if they could approve it with like a 500 CL. Either way it wont hurt you to try and at least you can tell yourself you try your best. 


I called, the guy was nice, but he said what really hurt me was that I just opened two cards. (One in early December and one in late September). I explained to him about the 'many inquiries' in the last 24 and in the last 6 months, but it seemed like that didn't matter.. though again, I only had two inquiries in the last 6 months and 9/13 were falling off this summer. But I asked about the 500 CL, but he said he can't overturn the decision.. :smileyfrustrated:

 

 


Hmmm....its really weird because I have like 12 inquires in like the past year and probably 4-5 the last 6 months. My AAoA is 5 months and my oldest account was 10 months old. They also pull transunion on me and my FICO TU score was 703. 


See, now I'm really convinced it is just my luck. Were you an instant approval? And was your oldest account a CC or an installment loan? If yours was a CC then that's most likely why you got approved, but he mentioned my revolving accounts being new, despite my AAoA.

AE Store CC: $850 | AEO Visa: $2,300 | CapOne Quicksilver: $1,700 | Citi Forward for Students $1,500 | Walmart CC $1,350 | Chase Amazon: $500 | PayPal Smart Connect: $500 | Discover iT for Students: $500 | Chase Freedom: $500

Gardening until util 30%
TU Fico: 652 (3/11/14)
Frequent Contributor
CredittotheMax
Posts: 270
Registered: ‎01-01-2013
0

Re: UPDATE


WallyxD wrote:

CredittotheMax wrote:

WallyxD wrote:

CredittotheMax wrote:

You should still call for a recon and ask if they could approve it with like a 500 CL. Either way it wont hurt you to try and at least you can tell yourself you try your best. 


I called, the guy was nice, but he said what really hurt me was that I just opened two cards. (One in early December and one in late September). I explained to him about the 'many inquiries' in the last 24 and in the last 6 months, but it seemed like that didn't matter.. though again, I only had two inquiries in the last 6 months and 9/13 were falling off this summer. But I asked about the 500 CL, but he said he can't overturn the decision.. :smileyfrustrated:

 

 


Hmmm....its really weird because I have like 12 inquires in like the past year and probably 4-5 the last 6 months. My AAoA is 5 months and my oldest account was 10 months old. They also pull transunion on me and my FICO TU score was 703. 


See, now I'm really convinced it is just my luck. Were you an instant approval? And was your oldest account a CC or an installment loan? If yours was a CC then that's most likely why you got approved, but he mentioned my revolving accounts being new, despite my AAoA.


I got the 7 days notice and I called the next day. They just confirmed I was enroll in the university I mentioned in the app. My oldest account is a CC and I never pay in full because I thought its good to leave a balance. 

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FICO = EQ: 729 (6/13) TU:744 (12/27) EX: ?

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