App spree gone horribly wrong

[MrDisco99]

I submitted three apps today. First the setting:

FICO 8: 750 EX, 789 TU

Lots of new accounts on my reports but fairly clean in recent months... 19/24, 13/12, 1/6, 0/5

Each of the three agencies showed 4 inq in the last 12 months. Only one on EX was less than 6 months old (it was 4 months old).

Basically I’d been very well behaved over the last 5 to 6 months.

Edit to add util: Currently my Barclays Apple card shows a reported balance of $1900/$11,800 (deferred interest until 11/2019). My Synovus cash rewards reported $104/$9,000 and my BoA TR reported $17/$12,000. Everything else reported zero util. Not sure how much influence that would have if any.

Results:

Cap1 Venture - triple pull, instant denial

Frustrated by that, I went for my next choice card:

BoA Premium Rewards - EX pull, instant denial

So from there I went for what I hoped would be an easier win on a non-EX pull:

Barclays Uber - TU pull, no firm answer

I checked the app status online and it said I couldn’t be approved at this time. However last time I saw this they’d sent me a request for verification and approved me, so I’m hoping for that, but not too optimistic.

Edit to add: Called recon. It’s a straight up denial. They don’t like how many new accounts I have.

Lessons learned:

1. Underwriting on the C1V and BoA PR are no joke. If you look anything like a churner they will turn you away.

2. I am very much in CC purgatory. I may need to accept that it could be another 6 months to a year before I can get approved for a non-Amex rewards card that I actually want.

[Anonymous]

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@MrDisco99 wrote:


I am very much in CC purgatory. I may need to accept that it may be another 6 months to a year before I can get approved for a non-Amex rewards card that I actually want.

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No fun to learn that the hard way, thanks for sharing.

[avp99]

Ouch!  that's tough.  sorry to hear that.

[Adkins]

With my last Uber denial (thankfully not a HP!), the rep gave me the impression they wanted to see no HPs for six months before I tried again. 

[FinStar]

Sounds like waiting would be best in order unless the Barclays application can yield something if you try the reconsideration approach.

BoA and Capital One may be firm denials since BoA will determine the number of new accounts opened in the last 12-24 months as excessive for their UW taste. And Capital One will not reconsider.

[CreditCuriosity]

Cap1 Venture and the BofA Premium rewards are very anti churners..  Probably picked the hardest two cards as both banks have made it a point being Cap1 to tighten up churners aka people with alot of new credit as undesirables along with BofA on the premium rewards as well.. TONS of data points on this forum and others along with blogs etc people with 800+ scores being shot down left and right for both of these card regardless of income/scores as they simply have to much new credit and not what these two banks/cards are going after anymore.  Cap1 will approve you for a venture say with a 670 score if you havent had a card in over a year, but if you have gotten x amt of cards in the last year you just wasted 3 hp's.  Sorry to hear it happened to you.

[Anonymous]

OP, out of curiosity why were you applying for those cards? In looking at what you already have, it seems you possess plenty of cards that offer similar rewards.  Were you just going for bonuses?

[MrDisco99]

Mainly bonuses but not just...

I have some hotels.com bookings I want to make (no big multinationals in the Greek Islands) so I was hoping to get the Venture to take advantage of the 10x promotion and use the the bonus towards them as well.

The BoA PR was mainly for the bonus and so I could cash out the points I have on my Travel Rewards card and maybe take advantage of the global entry redemption since none of my other cards offer it.

The Uber card was so I could increase my cash back earning on restaurants to 4%. I eat out a lot.

[Anonymous]

I gotcha, makes sense.  Sorry to hear about the denials.  As the others have stated above, it sounds like you should garden a good 6 months before considering those apps again.

[Anonymous]

Ugh what a bummer, it's never fun to get those denials. Hopefully you're able to get a card you want sooner rather then later.