topic How can I improve my approval chances? in Credit Cards

How can I improve my approval chances?

Anonymous — Thu, 21 Aug 2014 20:13:41 GMT

I am pining for a total rewards visa. I can’t tell you how much I really want this card. I apped for it back in April but no dice. Denied because of thin file. I really want to give this one more shot before my Vegas honeymoon at the end of October. I’ve given up trying to get the preapproval pop-up, but considering how much I want this card, the HP would be worth it. Before I apply, I want to have the best odds possible for getting approval. If I wait till next month, my AAoA will be 1.5 years with my new accounts at 4 & 3 months respectively. If I wait till October, the age of my oldest account will reach 4 years (student loan). Should I apply next month or wait till October? Is there anything else that I can do to improve my chances?

Re: How can I improve my approval chances?

Luscher — Thu, 21 Aug 2014 20:29:49 GMT

What is your score. and current utilization? any negatives?

Re: How can I improve my approval chances?

Anonymous — Thu, 21 Aug 2014 20:37:30 GMT

@Luscher wrote:
What is your score. and current utilization? any negatives?

Scores are in my sig: transunion 721 (per Discover It), Equifax 710 (myfico), Experian ? (was 713 in May). No negatives and util was 14% last month.

Re: How can I improve my approval chances?

Shock — Thu, 21 Aug 2014 22:57:55 GMT

Your scores look good. There's not much you cn do but let your accounts age. How many inquiries? I would also aim for under 10% utilization. Also only letting one card show a balance. Probably better to app in October, since it would be six months since your last app with them.

Re: How can I improve my approval chances?

creditFiend — Thu, 21 Aug 2014 23:02:37 GMT

@Anonymous wrote:
I am pining for a total rewards visa. I can’t tell you how much I really want this card. I apped for it back in April but no dice. Denied because of thin file. I really want to give this one more shot before my Vegas honeymoon at the end of October. I’ve given up trying to get the preapproval pop-up, but considering how much I want this card, the HP would be worth it. Before I apply, I want to have the best odds possible for getting approval. If I wait till next month, my AAoA will be 1.5 years with my new accounts at 4 & 3 months respectively. If I wait till October, the age of my oldest account will reach 4 years (student loan). Should I apply next month or wait till October? Is there anything else that I can do to improve my chances?

Your EQ score looks fine. How many inquiries did you have on EQ at time of denial? What reasons did they give for denial? How many new accounts do you have?

Re: How can I improve my approval chances?

Shock — Fri, 22 Aug 2014 00:00:49 GMT

He was denied due to a thin file.

Re: How can I improve my approval chances?

Anonymous — Fri, 22 Aug 2014 00:17:01 GMT

Yes, two of my accounts are new. I had no inquiries when I was denied. I currently have 3 inquiries on equifax and experian each and only one on transunion. Denial reasons were lack of revolving accounts, too short credit history and unable to verify credit information which I assume is because I had just changed my address.

I guess I'll try for it in October. In the meantime I'll bite my nails and hope for that mythical preapproval pop up