Well the LO told me not to apply for any more cards, she stated I should have applied for a secured card, but already ruined my chance. they checked my transunion. Plus my credit card payment, auto loand, and sallie mae payment has not updated yet. I don't want to bother with it. Its too much of a game.
Starting Score: 565Plus I have fraud alert on my credit report and it doesn't remove until 2015. So I think that is also what is hurting me.
Well the card you got denied for might be because of the fraud alert and they need you to provide more info to approve. I have a fraud alert on my credit report too which is probably why the Chase Freedom approval was a hassle for me.
My motto is, if you already suffered the inquiry, you might as well call for a reconsideration for approval. I wasn't going to let Chase get away with a free inquiry.
My LO says the same things but I applied before I was preapproved and didn't know I wasn't supposed to apply. And in the end, the new Chase Freedom isn't hurting me from getting the mortgage at the end of the month as I was just told not to use it until after closing.
It is ultimately up to you but if you go to the credit section of the myfico forum, you will see there are tons of credit approvals after reconsideration. So if it were me, I wouldn't waste the inquiry by not asking for a reconsideration and in fact, the credit card board here is what helped me get approval for the Chase Freedom because I didn't know before reading there that I was supposed to ask the bank for a reconsideration. If I didn't, I wouldn't of had my third line of credit. You can't get discouraged to the point that you stop trying. That is what hindered my recovery from bankruptcy. If I was a little more aggressive, my middle score could be higher than a 703 right now and I could have had more credit at my disposal than I do right now.
I just wish you would have taken my initial advice and applied for the Capital One card instead of going to Credit Karma or Credit Sesame for their recommendation based on a FAKO score. I don't think your credit is that bad to require that you apply for a secured card. Like I said, I was approved for a Capital One Cash Rewards card with a $2000 limit back in July when I had two bankruptcies reporting on my credit report and it was an instant approval. A secured card requires that you use your own money for the credit limit and you don't need to spend extra money right now just to get a credit card. You almost qualify for a mortgage so you don't need to sell yourself short by getting a secured credit card. Secured credit cards are for people that are no where near qualifying for a mortgage.
Just my 2 cents.
My motto is, if you already suffered the inquiry, you might as well call for a reconsideration for approval. I wasn't going to let Chase get away with a free inquiry.
My LO says the same things but I applied before I was preapproved and didn't know I wasn't supposed to apply. And in the end, the new Chase Freedom isn't hurting me from getting the mortgage at the end of the month as I was just told not to use it until after closing.
It is ultimately up to you but if you go to the credit section of the myfico forum, you will see there are tons of credit approvals after reconsideration. So if it were me, I wouldn't waste the inquiry by not asking for a reconsideration and in fact, the credit card board here is what helped me get approval for the Chase Freedom because I didn't know before reading there that I was supposed to ask the bank for a reconsideration. If I didn't, I wouldn't of had my third line of credit. You can't get discouraged to the point that you stop trying. That is what hindered my recovery from bankruptcy. If I was a little more aggressive, my middle score could be higher than a 703 right now and I could have had more credit at my disposal than I do right now.
I just wish you would have taken my initial advice and applied for the Capital One card instead of going to Credit Karma or Credit Sesame for their recommendation based on a FAKO score. I don't think your credit is that bad to require that you apply for a secured card. Like I said, I was approved for a Capital One Cash Rewards card with a $2000 limit back in July when I had two bankruptcies reporting on my credit report and it was an instant approval. A secured card requires that you use your own money for the credit limit and you don't need to spend extra money right now just to get a credit card. You almost qualify for a mortgage so you don't need to sell yourself short by getting a secured credit card. Secured credit cards are for people that are no where near qualifying for a mortgage.
Just my 2 cents.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! 
Last App: 4/5/13 Gardening until July 2014