topic Re: Hoping i get help in Credit Cards

Hoping i get help

Anonymous — Sat, 05 Jul 2008 13:31:36 GMT

Hi guys I just applied on hsbc site for AMEX card and i was turned down,and the reason is NUMBER OF INQUIRIES WITHIN LAST 6 MONTHS TOO MANY RECENTLY OPENED BANK/NATIONAL REVOLVING ACCOUNTS NUMBER OF TRADES i have not applied for any card during past 6 months at all, and i don't have too many bank accounts or any loan open,i only have 2 CC since 2005,one AMEX clear and one master card from chase,the reason that i applied for HSBC is because i travel to middle east alot and HSBC has branches in those country's and i can do my banking just walking into their branch. Now should i send them a mail and explain everything or call them and send them my report?or what should i do to get approved from them? Thank you

Re: Hoping i get help

MsKiwi — Sat, 05 Jul 2008 13:34:35 GMT

moty wrote:
Hi guys I just applied on hsbc site for AMEX card and i was turned down,and the reason is NUMBER OF INQUIRIES WITHIN LAST 6 MONTHS TOO MANY RECENTLY OPENED BANK/NATIONAL REVOLVING ACCOUNTS NUMBER OF TRADES i have not applied for any card during past 6 months at all, and i don't have too many bank accounts or any loan open,i only have 2 CC since 2005,one AMEX clear and one master card from chase,the reason that i applied for HSBC is because i travel to middle east alot and HSBC has branches in those country's and i can do my banking just walking into their branch. Now should i send them a mail and explain everything or call them and send them my report?or what should i do to get approved from them? Thank you

Have you checked your credit report lately? If you say you haven't openend any accounts since 2005 and the denial is basically for too many recent accounts opened, you may want to see what accounts have been opened. Could be possible fraud of your info?

Re: Hoping i get help

Anonymous — Sat, 05 Jul 2008 13:41:16 GMT

Capital one was 2005, chase was open 2006, AMEX was open 2007 and each bill has always been paid in full,i have never missed a bill

Re: Hoping i get help

Anonymous — Sat, 05 Jul 2008 14:31:58 GMT

I'd pull my credit reports immediately

Re: Hoping i get help

haulingthescoreup — Sat, 05 Jul 2008 14:37:07 GMT

Yes, but as MsKiwi was asking, have you looked at your credit reports to make sure that yours are the only accounts showing?

If they turned you down for too many new accounts, and you don't have any new accounts, then there's reason to worry about what they're looking at.

If you haven't gotten any free reports within the last 12 months, go to this site:

AnnualCreditReport.com

You can pull all three of your major credit reports (Equifax, TransUnion, and Experian) there. Don't pay for any scores from the bureaus. With the exception of Equifax, they won't be FICO scores, so save your money.

HSBC pulled my Equifax report for a Best Buy store card, but they might have used a different report for your bank card.

It's especially important to check your credit reports since you travel internationally, and therefore many people have had an opportunity to use your passport information and so forth. I would be concerned about someone trying to steal your identity and get credit in your name.

Re: Hoping i get help

smallfry — Sat, 05 Jul 2008 14:56:09 GMT

Since he was denied credit he is entitled to a freebie for that report regardless of when he last got his free reports. In this case it is a moot point.

Re: Hoping i get help

Anonymous — Sat, 05 Jul 2008 15:01:25 GMT

One of your reasons was reasons was recently opened bank accounts. You may have been double whammied because many banks and CU's pull your credit report prior to opening an account which is a hard pull.

Re: Hoping i get help

Anonymous — Sat, 05 Jul 2008 15:30:03 GMT

hi i just checked my credit report by Experian my score is excellent (734) It shows i have 3 credit cards since 2005 and paid satisfactorily. It shows that i had 2 more CC that i had closed them,which is right i had one from buy.com and one from amazon.com,which i closed them because i dident needed them anymore,and that shows i have paid the all an in report it says closed and paid satisfactorily. So what a hell is wrong by HSBC?

Re: Hoping i get help

Anonymous — Sat, 05 Jul 2008 15:35:30 GMT

Just because you closed those accounts doesn't mean you didn't open them recently. Check the report and look under the inquiries tab. How many inquiries do you have on there? Was Experian the report that HSBC pulled? If not they may have seen other inquiries on another report.

Re: Hoping i get help

Anonymous — Sat, 05 Jul 2008 15:44:00 GMT

Yes,the report that they pulled out is from Experian The inquiries that are there 1.AMEX 2.chase 3.buy.com.first usa 4.amazon.com.first usa and there is two inquiries from HSBC one on 2006 and one on 2008 which is the new one.

Re: Hoping i get help

Anonymous — Sat, 05 Jul 2008 18:51:45 GMT

That is odd. You can call and do a recon and say I am just trying to understand why I was denied since the reason listed is not true - I haven't applied for or received new credit in the last 6 months, can you please take a look at my file?

Re: Hoping i get help

Anonymous — Sat, 05 Jul 2008 20:05:55 GMT

Gl I hope you get the card!!! keep us posted!!!

Re: Hoping i get help

Anonymous — Sun, 06 Jul 2008 04:24:05 GMT

I called them and they said i have to call on Monday, i will post here that what goes on.

Re: Hoping i get help

Anonymous — Mon, 07 Jul 2008 14:29:20 GMT

Hi guys I called them this morning,i told them the story and this what i get, the reason is that you have not been holding credit cards more then 3 years and and to us you are new to credit cards (score 734), and your last credit card is not even one year old. For sure i will never apply from Hsbc again,thanks to chase and Amex , i will stick to them.