denied hsbc rewards zone best buy with 760 equifax fico

[scottwagnon]

wtf? i know that this confirmed equifax pull is 8th inquiry... the lady on the phone that reviewed my application was being very rude to me. she kept intentionally misunderstanding what i was telling her, (she reminded me of the speech therapist in the movie "Being John Malcovich" . and had the galls to happlily tell me that my application was NOT APPROVED. this is the first time i have been denied for no apperant reason.

My FICO SCORE IS 760. THIS CARD IS FOR APPLICANTS THAT HAVE GOOD TO FAIR CREDIT according to finance globe... wtf....

[Anonymous]

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@scottwagnon wrote:

wtf? i know that this confirmed equifax pull is 8th inquiry... the lady on the phone that reviewed my application was being very rude to me. she kept intentionally misunderstanding what i was telling her, (she reminded me of the speech therapist in the movie "Being John Malcovich" . and had the galls to happlily tell me that my application was NOT APPROVED. this is the first time i have been denied for no apperant reason.

My FICO SCORE IS 760. THIS CARD IS FOR APPLICANTS THAT HAVE GOOD TO FAIR CREDIT according to finance globe... wtf....

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If you have 8 INQs then that is likely why you were denied.  FICO score alone is almost never enough.

[JM-AM]

+1 

O6 is correct. Having numerous INQ's can give a red flag, which can cause denial. Having a score of 760 also doesn't show the big picture. What is your current UTIL individually and combined? How old are your TL's? These are many different things taken into consideration. 

Wait a little and let some time pass so some of those INQ's start falling off. If your UTIL is high start bringing it down as quickly as possible. If your TL's are fairly new let them build age, minimum of 6 month's, preferable a year.

Good Luck

[Anonymous]

with 760 eq score ... i dont need best buy master card , ewwww ..

[scottwagnon]

actually my utl is 6 percent. eq scorepower is red flaging my new accounts and oddly enough only 6 inq. it isnt counting todays pull (report from 10 days ago was 764), or the inq from july 2009. average age is 4 years, this is considered good. i think this denial might have something to do with not being able to confirm my identity. i tried to check my status and it could not confirm (ssn and zip code) i ever applied. the rude lady also said she could not locate me using my ssn either. i think she said something about going over my letter with best buy staff and attemping to reapply with them if i decided to reapply. she never implied that i would have to wait either to do so. i thought that was odd.

[Anonymous]

You should have applied instore.

[Anonymous]

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@scottwagnon wrote:

actually my utl is 6 percent. eq scorepower is red flaging my new accounts and oddly enough only 6 inq. it isnt counting todays pull (report from 10 days ago was 764), or the inq from july 2009. average age is 4 years, this is considered good. i think this denial might have something to do with not being able to confirm my identity. i tried to check my status and it could not confirm (ssn and zip code) i ever applied. the rude lady also said she could not locate me using my ssn either. i think she said something about going over my letter with best buy staff and attemping to reapply with them if i decided to reapply. she never implied that i would have to wait either to do so. i thought that was odd.

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They will send you an ECOA notice stating the reasons for denial.  That should tell the story.

Still, there are front-line creditors who will shoot you down for even 3 INQs no matter how high your FICO.

[anemo]

I was denied as well, 700 score and great history with HSBC. The reason. I guess I thought I had a good relationship with them. I have four HSBC accounts and one happen to closed but is paid in full from 2005 until now. The last time I app for the card the letter came saying denied because of prior account performance. But they told me to try again after calling because they said I should get it the next time. FORget about it!! I'm done with the best buy process and will just use my rewards cards and another CC. I guess some banks are forgiving HSBC just hold on to things. It's a win for me with HSBC Anyway because the late payments that were on this account they remove via the CRA so I guess it's their way of saying they helped me anyway with my credit.

[wollepopolle]

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@Anonymous wrote:

Still, there are front-line creditors who will shoot you down for even 3 INQs no matter how high your FICO.

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I'd even claim that there are front line creditors who will shoot you down for 1 recent INQ no matter how high your FICO is. Happened to me with Chase.

There are much better cards than the Best Buy Rewards, anyway.

[pazuzu]

Yet, looking at the creditpulls, they clearly have no problem approving people with sub-600 scores and BKs.

I applied in Feb. 09 with a 700 score (but also a BK) and was denied due to "DEROGATORY PUBLIC RECORD."

Why is it OK for others to have a BK on file, but not me?

And why are they  giving many consumers a $100 CL lately?