@CelticLady wrote:I had applied on the 24th and just called a few minutes ago to check on status. I was declined and the credit specialist said there was no reason showing and that I would received the decline reason by mail. She did say that she wasn't sure but she thought the reason was because I reside outside of the state of Oregon.
I don't know what else it could be except maybe too many recent inquiries.
- No BK on record (I did have one in 98), no late payments, no baddies at all
- TU FICO according to Barclays is 800, EQ FICO from 12/13 according to Cap1 was 792
- 2 TU inquiries from this month, 4 EQ (1 falls off on 2/5) and 3 EX
- AAoA 8yr 5mo (about to go down when my Amazon Visa starts posting)
- 2% util
- 2 new accts this month (only 1 is showing) 1AU account started posting this month as well
I'll update when I get the snail mail reason.
I really think that they are tightening the purse strings. Yes, I should have been denied, but you two last posters, based upon what you listed, appears that you should not have been denied. This is very interesting.
(Formerly known as: Credit is my hobby (1.6M)/TCL objective)
I think this goes to show that the purse strings have been cut. The time of generous approvals seem to be over. I see why I was denied, that was a no brainer. However some recent denials doesn't make much sense.
@CelticLady wrote:
@12njoy wrote:
@CelticLady wrote:I had applied on the 24th and just called a few minutes ago to check on status. I was declined and the credit specialist said there was no reason showing and that I would received the decline reason by mail. She did say that she wasn't sure but she thought the reason was because I reside outside of the state of Oregon.
I don't know what else it could be except maybe too many recent inquiries.
- No BK on record (I did have one in 98), no late payments, no baddies at all
- TU FICO according to Barclays is 800, EQ FICO from 12/13 according to Cap1 was 792
- 2 TU inquiries from this month, 4 EQ (1 falls off on 2/5) and 3 EX
- AAoA 8yr 5mo (about to go down when my Amazon Visa starts posting)
- 2% util
- 2 new accts this month (only 1 is showing) 1AU account started posting this month as well
I'll update when I get the snail mail reason.
I really think that they are tightening the purse strings. Yes, I should have been denied, but you two last posters, based upon what you listed, appears that you should not have been denied. This is very interesting.
I got the denial letter today. They pulled EQ and my stated FICO on 1/24/14 was 810.
Denial reasons:
Time since most recent account opening is too short - Okay, I can see that one as the new Barclay WMC account had already posted and was opened on 1/20
Too many inquiries last 12 months - When I apped I had 1 from 2/5/13, 1 on 9/13/13, 1 on 1/15/14 and 1 on 1/23/14.
Too many accounts with balances - This one always makes me laugh. I have a cap1 card with a $5/mo fee that always reports (yes, I will go through EO to see about PC or waiving it) I had $0 balance on any of the other cards (accidentally paid my chase card too soon) except the new Chase Freedom that started posting that I'm an AU on. I've seen this reason before and all I ever have is the Cap1 showing the $5 and the Freedom that usually had around 10% give or take a little out of 4 cards. (Now have 6 and AU on 1)
Anyways, just thought I'd update that.
I got me letter today also.
Denial reason: EXCESSIVE OBLIGATIONS TO INCOME.
I have a $128,000 in student loans which are in deferrment. Well at least it wasn't the delinquency within past 24 months again. The well has dried up!
I applied for the Duck card and was denied due to credit score. My Equifax fico is 660 but they told me it was 595???!!!!! (However the lady did say it had ot be a 640 to be approved) I was so upset by that number I felt sick to my stomach! Either way I guess I wasted a ing...
Starting Score: 593
@Rindy wrote:I applied for the Duck card and was denied due to credit score. My Equifax fico is 660 but they told me it was 595???!!!!! (However the lady did say it had ot be a 640 to be approved) I was so upset by that number I felt sick to my stomach! Either way I guess I wasted a ing...
Different scoring model was used, there are quite a few FICO models out there.
@scorpio_queen02 wrote:So disappointed I didnt get this card, but hey, I reckon its a sign! The reason was for an unpaid medical collection from 2010. That was the only reason listed. I called the number and the woman said my app wasnt in the system yet-- weird. There is an option to send a message in the track application section. I did that and the loan officer said it was still denied for the same reason. I suppose I should mosey my way back into the garden... and this time STAY THERE.
I'm sorry to hear that but it may be a blessing. There have been some discussion of OCCU shutting down cards of those previously approved due to new underwriting rules. Some have reported that they did balance transfers onto their Duck cards only to have the card closed because they did not live/work in Oregon.
