705 Credit Score - keep getting denied (due to Credit History length)

[Anonymous]

TransUnion 705
Equifax 705

Age of Credit History - both report 6 months
Total Accounts - both report 2
Inquiries - TU=2; EQ=9
Public Records TU=0; EQ=1 (tax lien working on getting removed)
Collections - both report 0

Every time I apply for a card that CreditKarma tells me I have good to very good odds of being accepted I get denied.  I call up the 2nd chance line and they tell me due to credit history length.  I had a thin file for a while, I am 45 now, I just bought a new Jeep last year with a cash-secured loan which I have paid off 91%, keeping the account open.  I also recently setup a $1k cash secured credit card a few months ago.

My question is HOW LONG DO I NEED TO WAIT before I can expect to start getting accepted, I assume a +700 is good enough to get basic credit cards.  I don't want inquiries piling up, at what point should I be concerned with inquiries (i.e. how many inquiries is considered to be really detrimental to getting credit?)

[JoeLuvsHisCredit]

You really need 2 years if you want "Prime" cards however you could get approve after a year but you will have alot better chances if you can wait until the 2nd year

[rmduhon]

You only mention EQ and TU scores. Where are you getting your scores from?

[Anonymous]

Credit Karma is giving me my scores for TU and EQ, not sure why it does not report Experian, is this by design or do I need to enable something?  Where do you get your reports without any fees or other b.s.?

[rmduhon]

Get the $1 trial from creditchecktotal.com for your actual FICO 08 scores. CK uses Vantage 3 scores which very few lenders use. Your scores could be much lower than CK has because they use a different method

[rmduhon]

I just remembered that Discover Scorecard will give you your Experian Fico (08 I believe) every month for free. I don't know where you can get TU or EQ for free unless you have certain Synchrony cards (TU) or DCU (EQ). If you want the different versions of Fico then you'll need to get the scores from here (I think it's $59). CK is good for keeping track of your reports but that's about it, the recommendations aren't very accurate.

[Anonymous]

Those are not FICO scores. You can be very surprised at how much of a diff (plus or minus) CK can be from a true FICO 8.

You may have a 600 and that's why you are getting denied.

Have you tired CapOne? Any of the other prequalify sites?

I +1 on signing up for credit check total (CCT) for the $1 trial. You can cancel via an automated phone system and don't need to talk to anyone-very easy. This way you will get your 3 scores and they will all be FICO 8 scores.

Then we can give you more detailed help.

[Anonymous]

I had the same problem....
your only friend is father time...
Just use the 2 cards ..pay in full if possible.
in 6 months or less they will CLI...
and you will get good offers..
the Credit Karma offers are not to be trusted.
Go to each Card co. site...
Discover..chase..etc...they have prequal sites that will not affect you credit and are fairly reliable...
good luck

[Anonymous]

Whkch banks are you applying to? If it's somewhere like Chase or Citi, you won't get in. Try AmEx or Discover. I personally got my AmEx at 6 months of credit history.

[SouthJamaica]

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@Anonymous wrote:

TransUnion 705
Equifax 705

Age of Credit History - both report 6 months
Total Accounts - both report 2
Inquiries - TU=2; EQ=9
Public Records TU=0; EQ=1 (tax lien working on getting removed)
Collections - both report 0

Every time I apply for a card that CreditKarma tells me I have good to very good odds of being accepted I get denied.  I call up the 2nd chance line and they tell me due to credit history length.  I had a thin file for a while, I am 45 now, I just bought a new Jeep last year with a cash-secured loan which I have paid off 91%, keeping the account open.  I also recently setup a $1k cash secured credit card a few months ago.

My question is HOW LONG DO I NEED TO WAIT before I can expect to start getting accepted, I assume a +700 is good enough to get basic credit cards.  I don't want inquiries piling up, at what point should I be concerned with inquiries (i.e. how many inquiries is considered to be really detrimental to getting credit?)

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1. Forget CK's statements about your likelihood of getting accepted; those are totally meaningless.

2. Forget your CK scores, those are Vantage 3.0 which often bear no resemblance to your FICO scores.

3. Until we know your FICO scores we can't give you a recommendation.