10-31-2012 02:36 PM
I have issues when applying for Home Depot credit card. I have applied a total of 3 times and have been denied the 3 times. My issue is that every time I apply it doesn't seem to report on ANY of the 3 (proof of this is that I wait until I get the denied letter, wait until at least 30 days have passed so the reports update and then call the reporting company and request a free copy of the report and the inquiries aren't there). For me they have used Equifax 2 of the 3 times and I am waiting for the third letter.. Anyone have this issue with HD? I recently got approved for a Sears card with 2.5k limit (previous high limit of $800) with no issues and I believe both companies are backed by Citi. Is HD really tough with requirements?
10-31-2012 06:35 PM
Recent one I still have to wait to receive the letter. Previous 2 declines were for:
*high balance on revolving accounts - not true as I only let report 5-10 or 0
*short credit history - 3.5 years of credit history so may be considered short
*too many inquiries - at the time of applying for the first 2 times this was true as I held about 7 inquiries aged 8-10 months, now most inquiries have 1+ year except 2-3 I made before applying for the card
*account mix - first time 2 ccs, 1 personal loan
*negative items on report - I had a 1 year old 30 day late, now it is 1 year 7 months
I can do without the card and will not apply again if I can't get approved after calling Citi. I will just let the accounts I have age and then try to get some prime cards. I was just curious about the requirements because their card seems to be just another retail card so was wondering why it was so hard to get (for me at least).
10-31-2012 06:40 PM - edited 10-31-2012 06:41 PM
Well 3.5 years is plenty of history seeing as 2 years got me my Amex's.
7 inquiries is not really a lot but could of been for it to turn you down.
30 days late should not be a big deal at all.
I would just call them and ask for a recon. You already have a citi card. I would guess in good standing. So it should not be this big of a deal if you ask me.