topic Re: Denied. Lack of experience. :( in Credit Cards

Denied. Lack of experience. :(

taxi818 — Tue, 05 Aug 2014 20:26:36 GMT

Denied sony visa cap 1. Get this. Said score Equifax. 701. And don't have experience with high credit lines. Any one ever hear of that as reason not to be approved.

What do I do. Live in garden? Ok. 6 more months in credit cave I guess.

Re: Denied. Lack of experience. :(

Anonymous — Tue, 05 Aug 2014 20:29:40 GMT

Aw, sorry to hear! I have never heard of that.

Re: Denied. Lack of experience. :(

taxi818 — Tue, 05 Aug 2014 20:35:21 GMT

We'll they speak truth. Highest limit is 2500. I guess not considered high line. Chump change. Will wait for cli.

Re: Denied. Lack of experience. :(

lonelyisland — Tue, 05 Aug 2014 20:41:48 GMT

Wonder if its more bc of average age of account.

Why I apply for CLIs the only rejection reason I get is too many inqs.

Re: Denied. Lack of experience. :(

taxi818 — Tue, 05 Aug 2014 20:47:19 GMT

May be some truth in that. Went on app spree 3 months ago. 7 new cards. Dropped a a of a down to 5 months. Oldest open account only 9 months. Hmmm

Re: Denied. Lack of experience. :(

lonelyisland — Tue, 05 Aug 2014 20:51:22 GMT

That would be my guess, thats the only problem with app sprees, you do kinda have to wait out the 6-12 months to "recover" from the new accounts.

Sorry about the denial. :-/

Re: Denied. Lack of experience. :(

Anonymous — Tue, 05 Aug 2014 21:10:51 GMT

I had a similar issue for mortgages. If your file is thin, your only hope is with somewhere with a human to recon. Honestly though garden wait for the CLI to your cards

Re: Denied. Lack of experience. :(

robbulous — Tue, 05 Aug 2014 21:20:41 GMT

Sorry to hear that. That's why I believe it's better to work on a few limits, get them where you want them, and then apply for new cards. Any new accounts will typically match the limits of your other cards. Otherwise you're stuck with a bunch of tiny limits.

Re: Denied. Lack of experience. :(

mongstradamus — Tue, 05 Aug 2014 22:35:57 GMT

@taxi818 wrote:
Denied sony visa cap 1. Get this. Said score Equifax. 701. And don't have experience with high credit lines. Any one ever hear of that as reason not to be approved.
What do I do. Live in garden? Ok. 6 more months in credit cave I guess.

If you join the garden club it won't be like an cave since you will have other people there to accompany you :-)

Re: Denied. Lack of experience. :(

ExplicitElicit — Tue, 05 Aug 2014 23:27:43 GMT

I can stand behind that statement. When I was approved for my Freedom it was my highest limit and they told me they would not go higher because I did not have experience with and real cl. Then When I app'd for the AMEX ED they told me they were only willing to match my cl on my freedom. I was recently approved for a CU CC and she asked if 3K to match my other lines would be okay, I counter and said 5K and she said sure... I should have said more but ohh well. Anyways I'm hoping that since my CU card just started reporting it will help other lenders make a decision and give me a higher CL than 3K.

Re: Denied. Lack of experience. :(

taxi818 — Tue, 05 Aug 2014 23:39:21 GMT

Well to the garden it is then. I think after 6 months. Untl under 5 percent on 1card. Other 8 zero balance. I think it will help score. Hoping ex 720. Right now 680. Seedling.