What items on your CR are guaranteed not to get you anymore credit?

[danny4l]

Just wanted to know if there were certain items that can guarantee that you will never get anymore credit extended to you until they are resolved?

I don't have a bankruptcy or anything but I have recent medical collections, 180 day student loan lates, and I'm in a DMP program and I even got rejected by BOA for their secured card.

Just want to know your thoughts.

[guiness56]

IMO, no, there isn't.  Nothing is a guarantee of no credit.  It is completely up to the creditors.

What was BoA reasons?

[danny4l]

BOA said I had a FICO of 646 and I was denied due to recent collection accounts and number of total derogatories.  When I called them up to ask them to clarify, they said the judgment on file from May 2010 (which I have since had vacated and removed) was not the issue.  The recent medical collections (11 of them from the same company) were apparently the deal breaker.

No mention of the 180 day lates.

Still confused how someone gets denied a secured card.  I was approved for the Capital One secured in November 2011 but I didn't have the medical collections at the time and I wasn't in the DMP.

Guess I can't get any type of credit till at least August 2015 when I'm out of the DMP.  What do you think?

[guiness56]

From what I understand, if you were to open a CC while in DMP, the creditors you have under DMP could stop the benefits if you do.

Auto and mortgages are considered necessaties and your DMP counsler could work with lenders to help you.

[danny4l]

I wish the DMP clearly stated this to me.  I will have to go reread the paperwork.  Being that I was denied for the BOA secured card, I guess that pretty much means I'll wait till August 2015 and then see if I can apply once again.  This time I will apply for an unsecured card and try to rebuild then.