I've always heard you should not apply for credit when something is in dispute on your credit report. I'm just wondering how this really works though because I got approved with two pending disputes. Here's what happened:
I went to open checking and savings accounts at a local credit union. I knew they'd pull credit and put it off for a while, but really needed separate accounts because I'm self employed and wanted to try a CU instead of doing it at the big bank I currently bank with. They opened the accounts then encouraged me to apply for credit because the score they pulled was a 726. None of my small credit cards have been open longer than 5 months and the 2 accounts in dispute were student loans with lots of major lates. They were in dispute because they hadn't updated in months to show they had been current a while. Anyway, I told them why they were in dispute and that I had many lates and they still encouraged me to apply and told me they'd use the same pull so I did. I was approved for a $500 overdraft LOC and a $5K credit card. (My biggest line before that was a $600 secured card.) So how did that happen? Not planning to do any more apps, but part of me wants to try somewhere else because of the success. Thoughts on how that was possible? I keep waiting for them to call and tell me it was a mistake, but I can see in my online account that the card is already issued. Just confused because I thought this was a big no-no. I wasn't trying to game the system or anything. I honestly just planned to open banking accounts.
Starting Score:(11/2012) EQ 611