topic Re: Application Spree Denials in Credit Card Applications

Application Spree Denials

missy42 — Sun, 06 Dec 2015 14:46:02 GMT

So after reviewing the recent credit approvals I decided since my scores had gone up to apply for a few cards that seemed to be easing their credit requirement here are my results:

AmEX: Denied

Citibank: Denied

Discovery: 7-10 days

Chase Freedom - Denied

Dillards - Denied

Target - 7-10 days

Kohls - Approved: $300 - no go for cli

I'm guessing it all has to do with my current utilization but some seemed very mean especially AmEx. Either way I'm now in the garden club and will not apply for another card until 2017. I knew AmEx blacklisted but I had a card in 1988 when I was married and we put it in CC Counseling and paid it in full never thought they would continue the grudge. Anyway, I know not to try Cap 1 I've already been denied too many times so I'll just keep what I have and pay down my UTL sitting at 63% right now but it's better than the 77% I was at early in the year. Thanks any advice (good and non judgemental) is appreciated.

Re: Application Spree Denials

Anonymous — Sun, 06 Dec 2015 14:53:30 GMT

@missy42 wrote:
So after reviewing the recent credit approvals I decided since my scores had gone up to apply for a few cards that seemed to be easing their credit requirement here are my results:

AmEX: Denied
Citibank: Denied
Discovery: 7-10 days
Chase Freedom - Denied
Dillards - Denied
Target - 7-10 days
Kohls - Approved: $300 - no go for cli

I'm guessing it all has to do with my current utilization but some seemed very mean especially AmEx. Either way I'm now in the garden club and will not apply for another card until 2017. I knew AmEx blacklisted but I had a card in 1988 when I was married and we put it in CC Counseling and paid it in full never thought they would continue the grudge. Anyway, I know not to try Cap 1 I've already been denied too many times so I'll just keep what I have and pay down my UTL sitting at 63% right now but it's better than the 77% I was at early in the year. Thanks any advice (good and non judgemental) is appreciated.

Sorry for the denials but just a couple things for the future. Once you start getting denials on a spree you should stop applying and not adding up the inquiries. It's fruitless and just damages any chance for a while of any approvals. Second, it's not a good idea to apply for credit cards with 63% utilization. It almost assures a denial regardless of credit scores. In reality, utilization should be at a maximum of 30% or even much lower if scores aren't fantastic before trying for new cards. I wouldn't assume the Amex denial is related to your card with them from 1988. More than likely it's a result of your utilization. You're right to focus on the utilization. Get that down below 39% and your scores will rise quite a bit and open up the approvals. Good luck.

Re: Application Spree Denials

Anonymous — Sun, 06 Dec 2015 14:55:08 GMT

sorry you got denied for so much so quick. hopefully the cards you were approved for are good enough to use! you'll see another score jump when you get your utilization down to about 50%, then 30% then 10%

Re: Application Spree Denials

elim — Sun, 06 Dec 2015 14:59:43 GMT

One of the rules I make for myself is "report perfect utilization before applying for cards (1-9% on 1 card and 0% on the rest).

Try it next time, You will like the results :]

Re: Application Spree Denials

missy42 — Sun, 06 Dec 2015 16:45:05 GMT

Thanks for all the responses I'm gardening until 2017 and just working on my UTI, I'm sure it will be a great 2017 for approvals but I'm good for now at just learning more and more and keeping my current cards paid and current. Thanks community for all your great advice!

Re: Application Spree Denials

Anonymous — Sun, 06 Dec 2015 19:18:51 GMT

Great input here. Just let it guide you and garden until your scores and utilization are doing well. Good luck!

Re: Application Spree Denials

Anonymous — Sun, 06 Dec 2015 19:25:46 GMT

Don't be so sure you're locked out of Amex. Your score is somewhat borderline for an approval with them but maybe possible but teamed up with your fairly high utilization I'm pretty sure that was the deal breaker. In fact that was probably what sunk you with most of those apps. Work on getting that utilization down a good bit and garden for a bit as well and you'll probably be pleased with the results next go round.

Re: Application Spree Denials

Anonymous — Sun, 06 Dec 2015 19:27:25 GMT

yeah you would be amazed how much high utilization can impact a score. it's 30% of it! so that's why i said earlier once you pay it down (like you plan on doing) that'll give you a score increase in itself

Re: Application Spree Denials

NRB525 — Sun, 06 Dec 2015 23:19:11 GMT

@missy42 wrote:
Thanks for all the responses I'm gardening until 2017 and just working on my UTI, I'm sure it will be a great 2017 for approvals but I'm good for now at just learning more and more and keeping my current cards paid and current. Thanks community for all your great advice!

Sorry about the denials, but the upside is, you have clear feedback that you need to garden.

You have quite a few credit cards and LOC in your siggy. 63% utilization translates into how much in total actual dollars outstanding?

Re: Application Spree Denials

Anonymous — Sun, 06 Dec 2015 23:29:27 GMT

Sorry to hear about the declines. Please listen to Irish80, my sentiments exactly.

Re: Application Spree Denials

NRB525 — Sun, 06 Dec 2015 23:37:06 GMT

Maybe utilization is the issue, but in June 2013 I got my AMEX Delta Gold card, $2k limit, when my utilization was 46% on open balances, $32k on $69k of available open cards. 49% utilization overall if you included the two closed cards.

Plus, OP's scores are in the mid-600. Are there current negatives in the OP file?

I also find it fascinating that OP has only credit union cards, and store cards, and zero cards from traditional CC lenders. And denied from Capital One, which is really strange. So I'm wondering what else is in the file that isn't yet talked about? Something is keeping all the regular banks at arms length here.

Re: Application Spree Denials

missy42 — Tue, 08 Dec 2015 00:15:05 GMT

Actually I've talked about everything nothing to hide I had a car loan with Crap1 right after my BK 07, other than that no good relationship with Crap1 because I closed all those low lines of credit plus I really don't want them in my wallet just was shocked when I got the denial, yes it's my UTI and my BK 07 will drop off in 2017. I have 3 lates but they are over 2.5 years old so other than that I have nothing. No worries keep watching me and in 2017 you'll see me shine, until then I was just sharing and learning!

Re: Application Spree Denials

Anonymous — Tue, 08 Dec 2015 00:19:54 GMT

that's a long time to make us wait!

Re: Application Spree Denials

Anonymous — Tue, 08 Dec 2015 02:15:06 GMT

@Anonymous wrote:
that's a long time to make us wait!

I loled! I like having you on here man, this board reminds me of a mix of credit types, only with personalities instead.

Re: Application Spree Denials

Anonymous — Tue, 08 Dec 2015 02:19:51 GMT

@missy42 wrote:
Actually I've talked about everything nothing to hide I had a car loan with Crap1 right after my BK 07, other than that no good relationship with Crap1 because I closed all those low lines of credit plus I really don't want them in my wallet just was shocked when I got the denial, yes it's my UTI and my BK 07 will drop off in 2017. I have 3 lates but they are over 2.5 years old so other than that I have nothing. No worries keep watching me and in 2017 you'll see me shine, until then I was just sharing and learning!

I want to thank you for sharing your experience. Those are good data points that could help others in the future. Far more often, we get lists like those of people exclaiming how they scored. It can be beneficial to be aware of the yin that goes along with the yang.

I agree with folks about the balances, but I also can relate from my pre-bk days when I had balances that I couldn't pay off/down on a whim(or at any point, obviously), so I try to be understanding when discussing balances and like to remind others that our situations are all different. My best wishes to the OP and their commitment(that word reminds me of a mental hospital...now wait to see what it's linked to int he sentence) to the garden until sometime in 2017. Hopefully you come out of it ok, and not like the Jack Nicholson character in One Flew Over the Cuckoo's nest.

The balance thing can help along with gardening, but from my own experience of my only semi-spree(I'm not sure I've stopped it yet), it's very beneficial if you study threads on all of the cards you want to app for. I have concerns over lenders which may ban us for bk, yet let others in with lower scores, less of a profile, etc. You may be able to pick off one sooner than you think, and I want to encourage you to forgive cap1 the way they tend to forgive us, and allow them and their prequal app to help your credit journey. You can consider it like spiteful fornication, if you must. It may greatly benefit you to be open to using them as a stepping stone, evben if you dislike them. Ok, I'm done preaching, and want to wish you the best!

Re: Application Spree Denials

bk510 — Wed, 09 Dec 2015 12:18:39 GMT

@NRB525 wrote:
Maybe utilization is the issue, but in June 2013 I got my AMEX Delta Gold card, $2k limit, when my utilization was 46% on open balances, $32k on $69k of available open cards. 49% utilization overall if you included the two closed cards.

Plus, OP's scores are in the mid-600. Are there current negatives in the OP file?

I also find it fascinating that OP has only credit union cards, and store cards, and zero cards from traditional CC lenders. And denied from Capital One, which is really strange. So I'm wondering what else is in the file that isn't yet talked about? Something is keeping all the regular banks at arms length here.

I was thinking of samething....