topic Re: Walmart Denial & reason why.....(Inquiries) in Credit Cards

Walmart Denial & reason why.....(Inquiries)

payingoffdebt001 — Tue, 17 May 2011 13:37:06 GMT

Probably not a good time to apply for credit cards if you just applied for an auto loan.

Just thought I'd post this info, I just applied & got my new car about 2 weeks ago and now I have a total of 12 inquiries (not all due to the auto loan). So probably not a good time to go and apply for credit cards, get cards first then car if you are new to this rebuilding.

I dont have any open or new accounts with lates.

I do have 2 new credit cards that are both reporting current, limits are low $350 each and utlilzation is around 22%.

Walmart CC Denial reason:

TOO MANY INQUIRIES IN THE LAST 6 MONTHS

NUMBER OF MONTHS SINCE 30 DAYS PAST DUE ON A CREDIT ACCOUNT IS TOO LOW (what does this really mean??)

TOO FEW REVOLVING ACCOUNTS

Re: Walmart Denial & reason why.....(Inquiries)

clocktick — Tue, 17 May 2011 13:42:03 GMT

@payingoffdebt001 wrote:

NUMBER OF MONTHS SINCE 30 DAYS PAST DUE ON A CREDIT ACCOUNT IS TOO LOW (what does this really mean??)

That means it's been too recent, in their opinion, since you had a 30-day late payment. Sorry about this but congrats on your new car!

Re: Walmart Denial & reason why.....(Inquiries)

JonStur — Tue, 17 May 2011 14:07:45 GMT

You must have had a recent 30 day late...my GF has a 2yo bankruptcy and was approved....

Re: Walmart Denial & reason why.....(Inquiries)

payingoffdebt001 — Tue, 17 May 2011 15:03:02 GMT

I really think it was too many inquiries that messed it up for me.

I just went and checked TU &EQ and now I do see it..I have a Repo on my reports from 2009, its listed as CLOSED/ Charged Off should the history be showing??

I am now on a payment plan with them and I noticed it has KD listed for every month . Weird that I was approved for other credit cards but I'm glad I did, one was a Cap1 with no deposit necessary.

If its a charge off can they still keep reporting the monthly status? I thought I read somewhere they usually dont..I may be wrong.

thanks!