topic Re: Decline In I've Been Approved Threads in Credit Cards

Decline In I've Been Approved Threads

Anonymous — Tue, 03 Feb 2009 13:50:17 GMT

I notice there have been a decline in i've been approved threads which I'm not surprised they where just talking about this on the news saying allot of banks are just not extending allot of new credit right now because of the economy. An in allot of cases its not because of your credit it's because most banks out now are just not sure of there future.

Message Edited by mjbfan79 on 02-03-2009 07:50 AM

Re: Decline In I've Been Approved Threads

haulingthescoreup — Tue, 03 Feb 2009 14:36:09 GMT

Not to mention that a lot of us are in hunker-down mode. I had toyed with the idea of getting Discover and Kohl's once my new accounts hit 12 months, but I have no interest in doing that now.

Re: Decline In I've Been Approved Threads

Red1Blue — Tue, 03 Feb 2009 15:20:47 GMT

I have to start saying what Hauling is saying. I have no more desire to app. I really would like to get an Amex Credit Card and Discover Card. I have no interest any more.

Re: Decline In I've Been Approved Threads

Anonymous — Tue, 03 Feb 2009 16:38:21 GMT

As others have already stated, I'm in a place where I have enough credit, and no more desire to App for anything.........UNLESS someone is offering a card with a better rewards program than PENFED..

Re: Decline In I've Been Approved Threads

llecs — Tue, 03 Feb 2009 16:41:02 GMT

haulingthescoreup wrote:
Not to mention that a lot of us are in hunker-down mode.

I'm firmly entrenched in my credit bunker. Tap the door three times when it is safe to come out. I'm afraid to trigger something bad. At least all of our APRs are automatically dropping. No CLIs though.

Re: Decline In I've Been Approved Threads

oracles — Tue, 03 Feb 2009 16:48:08 GMT

Another item to worry about when requesting new credit or additional credit is CCC thinking you already have too much credit. This is why I am not asking for cli's on my current cards.

My goal is to get a Penfed and I waiting for all my inquiries to drop off before applying. I don't want Penfed to state I already have to much credit for my income.

It is best to have a goal of getting a particular card and then hope that will stop you from applying.

Don't want to trigger anything and want to be in the best position in getting a Penfed.

Re: Decline In I've Been Approved Threads

Anonymous — Tue, 03 Feb 2009 16:55:42 GMT

I too am locked away in the credit-bunker. I already received AA from Amex.

Re: Decline In I've Been Approved Threads

MidnightVoice — Tue, 03 Feb 2009 16:55:52 GMT

Well, I guess I could start one - I got a USBank visa (boring standard no rewards low APR) last week

But I thought anout the pros and cons before I did it;

pro - I bank with them, overdraft protection if I screw up, possible AA by someone else, only 1 inq on EQ about to drop off, no new accounts for over a year

con - age effects (minimal), inq (will be only one on EQ next month), possible AA because of new credit.

So I went for it

Re: Decline In I've Been Approved Threads

Anonymous — Tue, 03 Feb 2009 18:19:58 GMT

No credit apping for me. NO CLI requests for me. No APR requests for me. No anything that would require the CCCs to take an additional look at my CRs for me.

I'm trying to avoid AA as much as possible. AMEX will be at zero in a week. WAMU is at zero. MACYs is at zero. BOA has a $800 balance which will go away in a couple months. After that, I'll be praying that I come out of this crisis with my CC accounts in tact.

*crapping bricks*

Re: Decline In I've Been Approved Threads

Anonymous — Tue, 03 Feb 2009 18:50:45 GMT

I liken this credit card crisis to dating in high school, where the fear of rejection far outweighed the positives of acceptance.

I would love a new card or two, but it appears that nobody is in a giving mood despite receiving money which was intended to loosen up the lending so that we can spend more to help jump start the economy.

Re: Decline In I've Been Approved Threads

LisaJ — Tue, 03 Feb 2009 19:27:00 GMT

I, too, am in bunker down mode. I will admit to a slip, though--I apped two days ago for an Ashley card because I fell in love with some furniture that I shouldn't have been contemplating anyway. GEMB usually loves me, so I was surpised to get a very small, as in $500 credit from them, which I declined.

Luckily, when SW triggered the inquiry (And they do TWO, just in case anyone wanted to know--two different banks), it did not reduce my score at all.

I have learned my lesson. I want a card from my CU and I will not jeopardize the chance of getting it--which means no more apping until the two baddies that are scheduled to drop in June actually drop.