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Okay Fico! I have a conditional approval and could not have done it without my fellow members!
I have a good question for you.
The underwriter is asking for:
· Letter of Explanation regarding the inquiry for Capital One on 11/27/12. If you received a credit card, please provide the account # and balance on card
I was denied a credit card at that time. Should I tell them I was Credit Card hunting or..... tell them I was applying for a Credit card and was denied??
@rightcoast wrote:Okay Fico! I have a conditional approval and could not have done it without my fellow members!
I have a good question for you.
The underwriter is asking for:
· Letter of Explanation regarding the inquiry for Capital One on 11/27/12. If you received a credit card, please provide the account # and balance on card
I was denied a credit card at that time. Should I tell them I was Credit Card hunting or..... tell them I was applying for a Credit card and was denied??
I would say this:
"The reason the inquiry appears on my credit report is because I applied for a Capital One card however no new account was opened by Capital One and no debt was incurred."
That's basically what I wrote in a letter for a card I was denied for and it was accepted by the underwriter.
Sounds good! I will do just that
Thanks!
I told my loan officer something similar when we went over all of my accounts. I think the biggest concern is the fact that there is no corresponding card reporting, so they want to verify if there is an additional balance that they're not aware of.