Credit Cards Center Credit cards from our partners
Reply
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Newbie Credit Help!

Student discover is great. Also student citi.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
0

Re: Newbie Credit Help!


webhopper wrote:
Student discover is great. Also student citi.

I agree with these 2 cards, hopefully you got approved for one or both of the citi or TD cards.Fingers crossed!!




EQ FICO 548 3/3/16
Member
Posts: 15
Registered: ‎07-07-2012
0

Re: Newbie Credit Help!

Just got denied by Citi Smiley Sad this is part of the message

Unfortunately, after careful consideration, we're unable to approve the Citi Forward(R) Visa(R) account for you at this time. Here's what you should know The application was processed by a credit scoring system that assigned a numerical value to various items on your application and your credit bureau report. The information did not score a sufficient number of points for approval. We have denied your application due to the following reason(s): o Your credit report shows proportion of loan balance to loan amounts is too high. o There is a lack of recent revolving account information on your credit report.

 As of July/2012 your credit score is 0594.  Credit scores
 range from a low of 250 to a high of 900  The Key factors
 that adversely affected your credit score are:

 o   Your credit report shows proportion of loan balance to
 loan amounts is too high.

 o   There is a lack of recent revolving account information
 on your credit report.

 o   Your credit report shows too few accounts rated current.

 o   Your credit report shows too many inquiries in the last
 12 months.

Boooo. I think I'm gonna give up for a while like 6 months.....
Super Contributor
Posts: 7,530
Registered: ‎12-11-2011
0

Re: Newbie Credit Help!

We've all gotten those before. When i applied for discover student and citi forward I got those same reasons. Discover student was my first app ever, and I never understood why you needed credit to get credit. Makes sense that a student card would have no credit requirements but it's dumb. Good luck, Sit in the garden for a bit if you've got a lot of inqs and wait it out. You can always get back in the credit game later. 



Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
0

Re: Newbie Credit Help!


EmilyHeather wrote:

Just got denied by Citi Smiley Sad this is part of the message

Unfortunately, after careful consideration, we're unable to approve the Citi Forward(R) Visa(R) account for you at this time. Here's what you should know The application was processed by a credit scoring system that assigned a numerical value to various items on your application and your credit bureau report. The information did not score a sufficient number of points for approval. We have denied your application due to the following reason(s): o Your credit report shows proportion of loan balance to loan amounts is too high. o There is a lack of recent revolving account information on your credit report.

 As of July/2012 your credit score is 0594.  Credit scores
 range from a low of 250 to a high of 900  The Key factors
 that adversely affected your credit score are:

 o   Your credit report shows proportion of loan balance to
 loan amounts is too high.

 o   There is a lack of recent revolving account information
 on your credit report.

 o   Your credit report shows too few accounts rated current.

 o   Your credit report shows too many inquiries in the last
 12 months.

Boooo. I think I'm gonna give up for a while like 6 months.....

Sorry to hear Smiley Sad

 

Maybe TD will come through for you!!!




EQ FICO 548 3/3/16
Moderator Emeritus
Posts: 15,090
Registered: ‎12-30-2011
0

Re: Newbie Credit Help!


jsucool76 wrote:

We've all gotten those before. When i applied for discover student and citi forward I got those same reasons. Discover student was my first app ever, and I never understood why you needed credit to get credit. Makes sense that a student card would have no credit requirements but it's dumb. Good luck, Sit in the garden for a bit if you've got a lot of inqs and wait it out. You can always get back in the credit game later. 


Nah, secured cards > sitting around.  Especially when they would fix bullet points 2 and 3 both within six months or a year. No sense staying on the sidelines with revolving credit letting that same amount of time pass, when you can be banking payment history and revolving tradelines both during that period.

 

Plus there's no guaruntee even without the inquiries that it would've been approved: that reason was at the very bottom of the list, ergo least important in their decision.  Not much one can do about the student loan to balance ratio (like, no duh Citi, I'm applying for a *student* card) until beginning to pay them off, but that's a ways out.

 

 

 

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 693, EQ 8 717, TU 8 732, EX 8 740 (11/01/16)
Goal Score: 700 on EQ 04 (01/01/17)


Take the myFICO Fitness Challenge
Member
Posts: 15
Registered: ‎07-07-2012
0

Re: Newbie Credit Help!

Just got a letter from TD bank! Return service requested. They said they couldnt process because they neeed a signature to finish the application. They sent me a paper application and requested it be returned within 15 days. I'm feeling good about this one.

 

I'll let y'all know how it goes in a week or so.

Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Newbie Credit Help!

Emily, are you apping for student cards.
               LIMITS IN CARD DESCRIPTIONS
Member
Posts: 15
Registered: ‎07-07-2012
0

Re: Newbie Credit Help!

of course! the only one that isnt is the TD one, but the citi one was the student card

 

Frequent Contributor
Posts: 258
Registered: ‎06-10-2012
0

Re: Newbie Credit Help!

How long have you been with TD bank?  Do you have a good history with them?  Do you keep a reasonably high average monthly balance in your account with them?  Do you have a paycheck direct depositing into your account with them?  These could all be factors that work in your favor.

 

Last year I got approved for a Wells Fargo Visa with a $3000 CL, even though my FICO at the time was likely pretty low (I'd had multiple student loans reporting 120 days late just a few months prior).  The banker at my local branch who encouraged me to apply for it said that between my long, positive account history and my direct deposit, I was very likely to get approved.  I was nervous, but she was right!  I don't know if TD bank works the same way, but if you've got a good history with them, that's got to help.  Good luck!


Starting Score: 617 (EQ 6/10/12)
Current Score (8/28/13): EQ: 691 EX: 706 TU: 700
Goal Score: 700

Discover it $4,500 (02/2001); Amex PRG (Backdated to 01/2006); Amex ZYNC (Backdated to 07/2006); Wells Fargo Cash Back Visa $5,500 (12/2011); Citi Diamond Preferred MC $2,000 (07/2012); B of A Cash Rewards Visa Signature $5,000 (02/2013)

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.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.