topic Re: Is there something I'm not being told? in Rebuilding Your Credit

Is there something I'm not being told?

Anonymous — Wed, 18 Dec 2019 08:41:24 GMT

Hey guys! and I wish I found this forum way before all of this happened!

Long story short, I've been battling (for lack of a better word) with TU and Equifax for the past year or so about my credit score. Recently I've been 'denied' these cards (I've signed with BofA and Cap'l One) and they both have denied me the scured card. Cap'l One says "there's missing information" and BofA says "it can't be approved at this time". My payment history (according to CK) is 100%, I've paid off everything I owed but the only bad thing everyone has told me is that (at the time) I was working with my personal bank officer to get my credit scores up (A HUGE mistake I was not aware) and she did lots and lots of HI. While the credit bureaus have been nothing but dead ends, I'm supposed to recieve a credit report from TU about why are they "missing information or being unavailable". And tomorrow (as of this writing) I'm going to call BofA & Cap'l One to see why they didn't approve me. I also have a couple of questions;

1. Can I apply to one of those secured credit cards that won't look at your credit even tho BofA and Cap'l One have denied me?
2. Would they have the same effect as one from a bank institution?
3. Since the bank officer made so many HI's, can I dispute them to have them removed?

4. Will an unsecured card help me achieve my goals?

5. What is it that they need but are not telling me?
6. Any suggestions you guys can give me?

Thanks for replying!

Re: Is there something I'm not being told?

FireMedic1 — Wed, 18 Dec 2019 10:19:28 GMT

@Anonymous wrote:
Hey guys! and I wish I found this forum way before all of this happened!

Long story short, I've been battling (for lack of a better word) with TU and Equifax for the past year or so about my credit score. Recently I've been 'denied' these cards (I've signed with BofA and Cap'l One) and they both have denied me the scured card. Cap'l One says "there's missing information" and BofA says "it can't be approved at this time". My payment history (according to CK) is 100%, I've paid off everything I owed but the only bad thing everyone has told me is that (at the time) I was working with my personal bank officer to get my credit scores up (A HUGE mistake I was not aware) and she did lots and lots of HI. While the credit bureaus have been nothing but dead ends, I'm supposed to recieve a credit report from TU about why are they "missing information or being unavailable". And tomorrow (as of this writing) I'm going to call BofA & Cap'l One to see why they didn't approve me. I also have a couple of questions;

1. Can I apply to one of those secured credit cards that won't look at your credit even tho BofA and Cap'l One have denied me?
2. Would they have the same effect as one from a bank institution? A revolving CC is the same secured or unsecured.
3. Since the bank officer made so many HI's, can I dispute them to have them removed? Unfortunately no.
4. Will an unsecured card help me achieve my goals? Any CC secured or unsecured will do the same.
5. What is it that they need but are not telling me? Once you get your report from TU then you can see whats messed up.
6. Any suggestions you guys can give me?

Thanks for replying!

Welcome @Anonymous You can get an OpenSky secured with no HP for now until you get this striaghten out. Cap1 and BoA will send letters with reason codes why you were denied. Why would a CSR in the bank do HP's. Were they trying to get you approved for something?

Re: Is there something I'm not being told?

Anonymous — Wed, 18 Dec 2019 10:51:31 GMT

Well, I'm currently trying to see if I can get a house, that's why I went with her because I thought I was dealing with the main people to get my credit fixed. I've got a credit report coming to my mail, explaining what's going on, also BofA did sent something which I'm going to call them today. I was only trying to get my credit up, and I didn't know where to go for that particular. I'll update this tonight to see what they say.

PD: I called credit bureaus and it's better to talk to a wall rather than them, they can't tell you anything simple like "I got this letter, it says this, what info are you guys missing?".

Re: Is there something I'm not being told?

FireMedic1 — Wed, 18 Dec 2019 11:47:18 GMT

Sounds good. You'd have better results calling the Butterball Turkey cooking hotline than those bimbos at the CRA's.

Re: Is there something I'm not being told?

Anonymous — Wed, 18 Dec 2019 20:47:35 GMT

@Anonymous wrote:
Well, I'm currently trying ...

Based on your posts, it seems you are not well-versed in lending. You sound lost. No offense intended -- everyone starts in pretty much the same place.

I'd suggest reading & reading & reading some more. There's a ton of information here. Read about other people's mistakes and successes.

I suggest not trying to do anything else for the forseeable future. Like the master carpenter says, "Measure twice, cut once."

Good luck.

Re: Is there something I'm not being told?

Anonymous — Wed, 18 Dec 2019 21:41:29 GMT

Yeah, take it slow. Read a lot of posts here, do searches and do not make any quick decisions!

One thing I will tell you is that time heals many things, so the impact those inquiries (I assume HI means "hard inquiry") will fade in time and stop harming your credit score soon enough. (They no longer can affect your actual score after a year.)

Do not apply for any credit for the time being. In some respect, your credit is improving when you do nothing (repeat, time heals many things!). Soon enough, after you learn more and ask more questions, you'll have a better idea of what to do and when to do it.

You're in the right place to start the process of learning more and improving your credit! Welcome aboard!

Re: Is there something I'm not being told?

FireMedic1 — Wed, 18 Dec 2019 22:43:20 GMT

After re-reading your post. You scores might be too low to apply for a loan per the bank CSR. And Cap1/BoA wont approve because of that. Do you have any past negs that arent paid off? And what was it you did pay off. Something is holding you back outside of TU. Lastly what are your FICO scores last time you checked.

Re: Is there something I'm not being told?

Anonymous — Thu, 19 Dec 2019 08:51:31 GMT

@FireMedic1 wrote:
After re-reading your post. You scores might be too low to apply for a loan per the bank CSR. And Cap1/BoA wont approve because of that. Do you have any past negs that arent paid off? And what was it you did pay off. Something is holding you back outside of TU. Lastly what are your FICO scores last time you checked.

No, everything is paid off, even CK says that my payment history is 100%. The neg acct was one I had with AT&T that I couldn't pay because I was laid-off. Acoording to Experian App my FICO score is 666.

Re: Is there something I'm not being told?

Anonymous — Thu, 19 Dec 2019 04:12:29 GMT

@Anonymous wrote:
Yeah, take it slow. Read a lot of posts here, do searches and do not make any quick decisions!

One thing I will tell you is that time heals many things, so the impact those inquiries (I assume HI means "hard inquiry") will fade in time and stop harming your credit score soon enough. (They no longer can affect your actual score after a year.)

Do not apply for any credit for the time being. In some respect, your credit is improving when you do nothing (repeat, time heals many things!). Soon enough, after you learn more and ask more questions, you'll have a better idea of what to do and when to do it.

You're in the right place to start the process of learning more and improving your credit! Welcome aboard!

Thanks for the advice!

Re: Is there something I'm not being told?

Anonymous — Thu, 19 Dec 2019 03:55:58 GMT

@Anonymous wrote:
No, everything is paid off, even CK says that my payment history is 100%. The neg acct was an one I had with AT&T that I couldn't pay because I was laid-off. Acoording to Experian App my FICO score is 666.

There is the problem. Who is going to lend credit to the devil?

Re: Is there something I'm not being told?

Anonymous — Thu, 19 Dec 2019 04:27:46 GMT

@Anonymous wrote:
@Anonymous wrote:
No, everything is paid off, even CK says that my payment history is 100%. The neg acct was an one I had with AT&T that I couldn't pay because I was laid-off. Acoording to Experian App my FICO score is 666.
There is the problem. Who is going to lend credit to the devil?

Well... that's frustrating.

Re: Is there something I'm not being told?

Anonymous — Thu, 19 Dec 2019 04:15:20 GMT

@Anonymous wrote:
@Anonymous wrote:
Well, I'm currently trying ...
Based on your posts, it seems you are not well-versed in lending. You sound lost. No offense intended -- everyone starts in pretty much the same place.

I'd suggest reading & reading & reading some more. There's a ton of information here. Read about other people's mistakes and successes.

I suggest not trying to do anything else for the forseeable future. Like the master carpenter says, "Measure twice, cut once."
Good luck.

You're right, I'm lost .. it's the first time I've ever done this.

Re: Is there something I'm not being told?

Anonymous — Thu, 19 Dec 2019 04:15:56 GMT

@Anonymous wrote:
@Anonymous wrote:
No, everything is paid off, even CK says that my payment history is 100%. The neg acct was an one I had with AT&T that I couldn't pay because I was laid-off. Acoording to Experian App my FICO score is 666.
There is the problem. Who is going to lend credit to the devil?

Another devil?

Re: Is there something I'm not being told?

KJinNC — Thu, 19 Dec 2019 05:30:58 GMT

Welcome to the forum! You're in the right place, but before you take any/many actions, I would spend some time reading here.

666 may be the sign of the devil, but it's not THAT bad a score.

Don't actually do this yet in case I'm wrong ... read for a week or two first ... but my first thought is that you should open a Self Lender loan, check prequalifications for a number of cards, and if you don't prequalify for anything good, get a secured Discover. Those two accounts alone will put you in much better shape next year. I would recommend a secured Discover over any subprime I can think of. Although, your credit report will note which cards are secured and which are not, and human lenders may consider them differently. The reason I suggest secured Discover over (for example) unsecured Credit One is that it has good rewards, and will unsecure after 8+ months.

If "HI" means hard inquiry: those stop being counted in your FICO score after 12 months, and fall off your credit report after 24 months. They don't actually affect your score that much, per se. But they can become a veto factor for some lenders.

As long as you approach it as a marathon and not a sprint, you'll come out fine. Good luck!

Re: Is there something I'm not being told?

Anonymous — Thu, 19 Dec 2019 05:38:39 GMT

@KJinNC wrote:
Welcome to the forum! You're in the right place, but before you take any/many actions, I would spend some time reading here.

666 may be the sign of the devil, but it's not THAT bad a score.

Don't actually do this yet in case I'm wrong ... read for a week or two first ... but my first thought is that you should open a Self Lender loan, check prequalifications for a number of cards, and if you don't prequalify for anything good, get a secured Discover. Those two accounts alone will put you in much better shape next year. I would recommend a secured Discover over any subprime I can think of. Although, your credit report will note which cards are secured and which are not, and human lenders may consider them differently. The reason I suggest secured Discover over (for example) unsecured Credit One is that it has good rewards, and will unsecure after 8+ months.

If "HI" means hard inquiry: those stop being counted in your FICO score after 12 months, and fall off your credit report after 24 months. They don't actually affect your score that much, per se. But they can become a veto factor for some lenders.

As long as you approach it as a marathon and not a sprint, you'll come out fine. Good luck!

Thank you so much for your reply!

Re: Is there something I'm not being told?

Anonymous — Thu, 17 Sep 2020 04:06:06 GMT

Huge update:

Ever since paying my last bill from a phone company and disconnecting myself from my credit score, it has been up and down. Fast forward to September 2020, I currently stand at; Trans: 647 | EQ: 703 | EXP: 695. Mind you, I still have Hard Inquiries in Trans (last one would fade in Dec 2020) I also know, that i have to wait until those inquiries fade away so I can see if I can start rebuilding my credit.

I know this is going to sound desperate but a couple of weeks ago, I did a pre-qualification to buy a PC on a world known brand. The pre-qulaification acoording to them "would not impact my credit score" but will let me know if I'm able to get a payment plan for that specific product. Indeed, it did not impact my score and I got approved for $1,000. Now, I don't need that but, I was curious to see if they would approve it. Now since that company "approved" me for up to 1k, could I try to sign up for a secured credit card, or wait until December to apply when all the inquiries fade away?

Re: Is there something I'm not being told?

Anonymous — Thu, 17 Sep 2020 04:16:50 GMT

@Anonymous wrote:
Huge update:

Ever since paying my last bill from a phone company and disconnecting myself from my credit score, it has been up and down. Fast forward to September 2020, I currently stand at; Trans: 647 | EQ: 703 | EXP: 695. Mind you, I still have Hard Inquiries in Trans (last one would fade in Dec 2020) I also know, that i have to wait until those inquiries fade away so I can see if I can start rebuilding my credit.

I know this is going to sound desperate but a couple of weeks ago, I did a pre-qualification to buy a PC on a world known brand. The pre-qulaification acoording to them "would not impact my credit score" but will let me know if I'm able to get a payment plan for that specific product. Indeed, it did not impact my score and I got approved for $1,000. Now, I don't need that but, I was curious to see if they would approve it. Now since that company "approved" me for up to 1k, could I try to sign up for a secured credit card, or wait until December to apply when all the inquiries fade away?

Interesting thread, hopefully you've read up and learned a bit?

You could wait for the inquiries to fade, but if you opened up accounts last year like what was suggested you might be ready.

Try these out:

https://www.americanexpress.com/us/credit-cards/check-for-offers/

https://www.chase.com/prequalified

https://www.bbt.com/offers/checkOffers

https://apply.us.hsbc.com/apps/servlet/SmartForm.html?formCode=ccoprequal&promoid=RVM&marketingcode=ZZZZZZZZZZ&irgwc=1&cid=ZZZZZZZZZZ&pStack=ZZZZZZZZZZ

https://online.bbvausa.com/apply/credit-card-prequal

Re: Is there something I'm not being told?

Anonymous — Fri, 18 Sep 2020 03:27:32 GMT

@Anonymous wrote:
@Anonymous wrote:
Huge update:

Ever since paying my last bill from a phone company and disconnecting myself from my credit score, it has been up and down. Fast forward to September 2020, I currently stand at; Trans: 647 | EQ: 703 | EXP: 695. Mind you, I still have Hard Inquiries in Trans (last one would fade in Dec 2020) I also know, that i have to wait until those inquiries fade away so I can see if I can start rebuilding my credit.

I know this is going to sound desperate but a couple of weeks ago, I did a pre-qualification to buy a PC on a world known brand. The pre-qulaification acoording to them "would not impact my credit score" but will let me know if I'm able to get a payment plan for that specific product. Indeed, it did not impact my score and I got approved for $1,000. Now, I don't need that but, I was curious to see if they would approve it. Now since that company "approved" me for up to 1k, could I try to sign up for a secured credit card, or wait until December to apply when all the inquiries fade away?
Interesting thread, hopefully you've read up and learned a bit?

You could wait for the inquiries to fade, but if you opened up accounts last year like what was suggested you might be ready.

Try these out:
https://www.americanexpress.com/us/credit-cards/check-for-offers/

https://www.chase.com/prequalified

https://www.bbt.com/offers/checkOffers

https://apply.us.hsbc.com/apps/servlet/SmartForm.html?formCode=ccoprequal&promoid=RVM&marketingcode=ZZZZZZZZZZ&irgwc=1&cid=ZZZZZZZZZZ&pStack=ZZZZZZZZZZ

https://online.bbvausa.com/apply/credit-card-prequal

The only "open" account I have is the Paypal Cashback debit (which doesn't do anything). Other than that, I dont have anything else.

Re: Is there something I'm not being told?

OmarGB9 — Sat, 19 Sep 2020 04:57:29 GMT

Inquiries are unscoreable and lenders stop counting them (generally) after 1 year, so you could try for some cards now, if you wish.

Re: Is there something I'm not being told?

Anonymous — Sun, 20 Sep 2020 02:09:27 GMT

@OmarGB9 wrote:
Inquiries are unscoreable and lenders stop counting them (generally) after 1 year, so you could try for some cards now, if you wish.

Thanks for your reply.