03-27-2013 08:21 AM - edited 03-27-2013 08:24 AM
So last week I applied for Amex BCE and Discover IT. I was denied for the Amex BCE and got the 7-10 day notice.
Reasons for denial were:
Number of trades
Insufficient Time since most recent account established
High Utilization of credit lines or insufficient utilization of information
Key Factors to my Fico Score(I am assuming it was equifax as that was the reason for my denial but they pulled all three)
Proportion of Loan balances to loan amounts is too high
Too few accounts currently paid as agreed
Lack of Recent Revolving account information
Length of time accounts have been established
Too many inquiries in the last 12 months.(On equifax at date of application there was 1)
I think why I was denied was my capital one card was still not reporting to Equifax. It is reporting to TransUnion and I believe Experian. I think that was the biggest issue which I did not know it was not and it cost me three hard pulls. According to them my Fico score was 663, although according to here it was 678. So maybe this is my experian score?
My TU score for my Discover IT was 725.
Basically, where do I go from here? Do I try for a manual review, or just wait until Capital One updates my information and try again?
03-27-2013 09:07 AM
Manual review will be one more Hard pull.Dont attempt.Try a diffrent lender like Citi or GECRB
03-27-2013 11:18 AM
03-27-2013 11:29 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.