12-20-2009 07:07 PM
I recently applied for a Personal LOC with Wells Fargo. My scores are EQ 797, TU 775, EX 736.
I was only approved for a $ 5,000 LOC. Part of the reason given for my low CL was no previous relationship with the bank.
Where can I get a LOC or CC with a limit of about $ 25k with my scores.
12-21-2009 11:11 AM - edited 12-21-2009 11:16 AM
12-21-2009 03:34 PM
12-21-2009 03:47 PM
12-21-2009 08:18 PM
If I can add an LOC to my portfolio, I would never apply for credit again. Maybe in three years I'll apply for one.
If you get one I wish you better luck than I had. Last year BoA closed mine with a CL of $26,500.They said I had enough credit.
From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
You can do the same thing with hard work.
12-21-2009 09:31 PM - edited 12-21-2009 09:33 PM
Does anyone else have experience with US bank? do you think recent inquiries would prevent me from getting the CC. My scores are EQ 797, TU- 773, EX- 736. I have around 7 to 8 inquiries in the last 12 months with 3 of those in the last 3 months.
Why do you have so many inquires on your report within the year? Was it a mortgage or Auto loan etc....these things make a difference. If you have been applying for credit cards and your AAoA is extremely low or you have a bunch of new credit or your income is out of whack, you may have an issue getting approved......
I've said this before....and I'll say it again. NO LENDER wants to see a smorgasbord of new credit and a bunch of inquires when they pull a report....even if your FICO scores are high. This isn't my opinion..... it's fact. So have your ducks in a row before you apply Low UTI, Decent income, Low inquires, Low DTI and you should be fine.
Even if some of these are off a bit you still may be approved for a Line Of Credit but the terms and Amount will not be that favorable. So I'll say it again have your ducks in a row........Good Luck
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