topic Re: Credit Card denials in Rebuilding Your Credit

Credit Card denials

Anonymous — Sun, 02 May 2021 18:51:40 GMT

I am so frustrated and I'm hoping someone can give me advice. I have spent the last 3-4 years meticulously fixing my credit. About 5 years ago I filed for bankruptcy but ended up withdrawing the filing voluntarily and it was dismissed. Unfortunately its still on my credit. Since that time, though, I have paid off all my creditors. My current score is around the 670 mark, I own a home and a vehicle with completely on time payments. Even with all if this the only credit card I have been able to get approved for is a Kohls card, which has always been paid on time. The dismissed bankruptcy is the only negative item I have on my credit now and I make decent money too. Are there any cards I can get approved for with a prior bankruptcy?

Re: Credit Card denials

Horseshoez — Sun, 02 May 2021 18:57:06 GMT

@Anonymous wrote:
I am so frustrated and I'm hoping someone can give me advice. I have spent the last 3-4 years meticulously fixing my credit. About 5 years ago I filed for bankruptcy but ended up withdrawing the filing voluntarily and it was dismissed. Unfortunately its still on my credit. Since that time, though, I have paid off all my creditors. My current score is around the 670 mark, I own a home and a vehicle with completely on time payments. Even with all if this the only credit card I have been able to get approved for is a Kohls card, which has always been paid on time. The dismissed bankruptcy is the only negative item I have on my credit now and I make decent money too. Are there any cards I can get approved for with a prior bankruptcy?

Just to level set everybody, which credit cards have you applied for? The usual suspects of companies willing to forgive is all over this forum, typically with CapitalOne sitting at the top of that list.

Re: Credit Card denials

Anonymous — Sun, 02 May 2021 20:01:14 GMT

So most recently it was one called Petal, I applied for Discover and WalMart a few months ago and got denied. I know my credit score is not super high but though I could at least get something other than just Kohls.

Re: Credit Card denials

Horseshoez — Sun, 02 May 2021 20:43:29 GMT

Did you try CapitalOne?

Re: Credit Card denials

Anonymous — Sun, 02 May 2021 21:41:05 GMT

No not yet. One of the past credit issues I paid off was a Capital One debt, though, so I was afraid it would be an immediate no. I paid them in full for the debt though. It was for a credit card debt incurred over 7 years ago.

Re: Credit Card denials

Horseshoez — Sun, 02 May 2021 22:00:56 GMT

@Anonymous wrote:
No not yet. One of the past credit issues I paid off was a Capital One debt, though, so I was afraid it would be an immediate no. I paid them in full for the debt though. It was for a credit card debt incurred over 7 years ago.

I'll bet you dollars to donuts they approve you.

Re: Credit Card denials

OmarGB9 — Sun, 02 May 2021 22:01:39 GMT

@Anonymous wrote:
No not yet. One of the past credit issues I paid off was a Capital One debt, though, so I was afraid it would be an immediate no. I paid them in full for the debt though. It was for a credit card debt incurred over 7 years ago.

Capital One is actually one of the most (if not THE most) forgiving whether they're paid back or not. It's worth a try.

Re: Credit Card denials

MrBEW — Sun, 02 May 2021 22:12:27 GMT

Have you thought about getting a secured card? That is usually a good starting point. Also, check and see if you pre-approved/pre-qualified before applying.

Re: Credit Card denials

Anonymous — Mon, 03 May 2021 00:38:18 GMT

Is 670 a FICO score or vantage score? Where did you get the 670?

Capital One as mentioned above. You can see if you're preapproved on their website and then if you are pre-approved you would then want to apply for the card. Keep in mind Capital One is a triple pull on the actual application so TU, EU, EX will all receive a hard pull. If you don't see a preapproval I would highly recommend not to submit an app.

If you have Apple products you could try and apply for the Apple Card. You won't get a hard pull unless you accept an offer.

If those don't work Credit One does offer preapprovals on their cards. That said this would be a last resort. They do have one card with $0 fees and another that has a $39 annual fee/no maintenace fees. All their other cards I would advise against unless you're willing to pay both a high AF and/or maintenance fees.

As for denials, they happen don't take it personal. It happens to all of us. Two days ago I prequalified for a credit card with FNBO $3800 SL. I might have prequalified but silly me did the app, got the HP and no dice, had to eat the hard pull.

Re: Credit Card denials

Anonymous — Sat, 08 May 2021 19:58:00 GMT

The scores that I am using are based on WalletHub for Transunion score (Which I think might be a Vantage Score) of 669, an Experian website score of 668 and an Equifax website score of 688. I also tried to do a prequalification for a Lowes card through Synchrony Bank and says I didn't prequalify, but I have a weird address that has special characters and their prequal app wouldn't let me use special characters. Wonder if it may have been an address mismatch. I'm just kind of discouraged because I have worked so hard on my credit. I own my home and have had completely on time payments for that, I have a car payment that is completely on time, as well as a Kohl's charge that has always been paid on time. I have no collection accounts or late payments at all, but I do have an old dismissed chapter 7 bankruptcy from like 5 or 6 years ago (I cancelled it choosing to pay off my debts instead.) I also have good income. Why am I unapprovable?

Re: Credit Card denials

Horseshoez — Sat, 08 May 2021 20:06:00 GMT

@Anonymous wrote:
The scores that I am using are based on WalletHub for Transunion score (Which I think might be a Vantage Score) of 669, an Experian website score of 668 and an Equifax website score of 688. I also tried to do a prequalification for a Lowes card through Synchrony Bank and says I didn't prequalify, but I have a weird address that has special characters and their prequal app wouldn't let me use special characters. Wonder if it may have been an address mismatch. I'm just kind of discouraged because I have worked so hard on my credit. I own my home and have had completely on time payments for that, I have a car payment that is completely on time, as well as a Kohl's charge that has always been paid on time. I have no collection accounts or late payments at all, but I do have an old dismissed chapter 7 bankruptcy from like 5 or 6 years ago (I cancelled it choosing to pay off my debts instead.) I also have good income. Why am I unapprovable?

I strongly recommend these as your two next stops:

CapitalOne
PenFed

Re: Credit Card denials

OmarGB9 — Sat, 08 May 2021 20:40:47 GMT

@Anonymous wrote:
The scores that I am using are based on WalletHub for Transunion score (Which I think might be a Vantage Score) of 669, an Experian website score of 668 and an Equifax website score of 688. I also tried to do a prequalification for a Lowes card through Synchrony Bank and says I didn't prequalify, but I have a weird address that has special characters and their prequal app wouldn't let me use special characters. Wonder if it may have been an address mismatch. I'm just kind of discouraged because I have worked so hard on my credit. I own my home and have had completely on time payments for that, I have a car payment that is completely on time, as well as a Kohl's charge that has always been paid on time. I have no collection accounts or late payments at all, but I do have an old dismissed chapter 7 bankruptcy from like 5 or 6 years ago (I cancelled it choosing to pay off my debts instead.) I also have good income. Why am I unapprovable?

Sorry for the struggles, but no one can really tell you why, as every lender has different criteria. What I can tell you is that dismissed BK is definitely hurting you a lot.

Also, the Wallet Hub and EQ scores aren't FICO 8s. Only the EX one is. So don't pay attention to those.

Re: Credit Card denials

Anonymous — Sat, 08 May 2021 21:00:46 GMT

Yeah, I kick myself everyday for ever filing that BK. I asked for it to be dismissed and at the time didn't understand that it would still be on my credit report for 7-10 years. I was hoping that since I asked it to be dismissed and paid all of my creditors off instead in would show me in a positive light. Where do I pull a FICO 8 score for all 3? I don't want to waste my time applying for anything else if my scores aren't what I think they are.

Re: Credit Card denials

OmarGB9 — Sat, 08 May 2021 21:18:24 GMT

@Anonymous wrote:
Yeah, I kick myself everyday for ever filing that BK. I asked for it to be dismissed and at the time didn't understand that it would still be on my credit report for 7-10 years. I was hoping that since I asked it to be dismissed and paid all of my creditors off instead in would show me in a positive light. Where do I pull a FICO 8 score for all 3? I don't want to waste my time applying for anything else if my scores aren't what I think they are.

You can pull all 3 here at MyFICO, or on creditchecktotal.com for $1 for a 7 day trial. Just be sure to cancel before the trial ends, otherwise you'll be charged the full monthly subscription price of $29.95.

Re: Credit Card denials

8in2years — Sun, 09 May 2021 15:49:25 GMT

(1)You can try getting capital one card. Go to use this link https://www.capitalone.com/credit-cards/preapprove/

If they pre-approve you for any card like the quicksilver rewards, venture one or platinum mastercard....then you have a pretty high chance (Nothing is 100%) they will approve you for the unsecured credit card if you decide to complete the credit application. Note: If you apply with capital one, try to select a card with rewards and $0 annual fee.

You can get you EX fico8 score by going to creditscorecard.com , it is completely free.

Capital one will do a hard pull on Tu, Ex and Eq if you do decide to apply. (2) You can also get approved for an opensky secured visa credit card without a hard pull. (3) You can also get approved for a credit builder secured visa credit card by academybank.com They will not do a hard pull.

All 3 of these companies Capital One, Opensky and Academy Bank are legit and report these tradelines to Experian, Transunion and Equifax. Keep the overall monthly utilization below 10% every month for 6-12 months, pay these on time and you will see an increase in your scores.

Let these new cards age and don't apply for anymore credit products for at least 6- 12 months. As you make your payments on time other companies will contact you via mail to offer you better unsecured credit cards.

Re: Credit Card denials

OmarGB9 — Sun, 09 May 2021 15:12:24 GMT

@8in2years wrote:
(1)You can try getting capital one card. Go to use this link https://www.capitalone.com/credit-cards/preapprove/

If they pre-approve you for any card like the quicksilver rewards, venture one or platinum mastercard....then you have a 100% chance they will approve you for the unsecured credit card if you decide to complete the credit application. Note: If you apply with capital one, try to select a card with rewards and $0 annual fee.

You can get you EX fico8 score by going to creditscorecard.com , it is completely free.

Capital one will do a hard pull on Tu, Ex and Eq if you do decide to apply. (2) You can also get approved for an opensky secured visa credit card without a hard pull. (3) You can also get approved for a credit builder secured visa credit card by academybank.com They will not do a hard pull.

All 3 of these companies Capital One, Opensky and Academy Bank are legit and report these tradelines to Experian, Transunion and Equifax. Keep the overall monthly utilization below 10% every month for 6-12 months, pay these on time and you will see an increase in your scores.

Let these new cards age and don't apply for anymore credit products for at least 6- 12 months. As you make your payments on time other companies will contact you via mail to offer you better unsecured credit cards.

I'm sorry, but no prequalification is ever 100%. It does mean OP would have pretty good odds of approval, but it's never guaranteed.

Re: Credit Card denials

Horseshoez — Sun, 09 May 2021 15:37:02 GMT

@OmarGB9 wrote:

I'm sorry, but no prequalification is ever 100%. It does mean OP would have pretty good odds of approval, but it's never guaranteed.

Agreed; last year Discover pre-approved me and then denied my application, I ended up with a hard pull and a denial.

Re: Credit Card denials

8in2years — Sun, 09 May 2021 15:51:58 GMT

I made an error in my previous reply. There is no way to be a 100% sure a credit application will be approved.

Re: Credit Card denials

Anonymous — Sun, 09 May 2021 17:14:59 GMT

I think I am just going to take my chances and apply for the Capital One. Is the Platinum or the Quicksilver One a better option?

Re: Credit Card denials

Anonymous — Sun, 09 May 2021 17:40:42 GMT

One additional question as well. If I apply for more than one Capital One card and only get approved for one, what kind of credit hit will I take? Thanks to everyone for all of your help.