Application Spree Denials

[missy42]

So after reviewing the recent credit approvals I decided since my scores had gone up to apply for a few cards that seemed to be easing their credit requirement here are my results:

AmEX:  Denied

Citibank:  Denied

Discovery:  7-10 days

Chase Freedom - Denied

Dillards - Denied

Target - 7-10 days

Kohls - Approved:  $300 - no go for cli

I'm guessing it all has to do with my current utilization but some seemed very mean especially AmEx.  Either way I'm now in the garden club and will not apply for another card until 2017. I knew AmEx blacklisted but I had a card in 1988 when I was married and we put it in CC Counseling and paid it in full never thought they would continue the grudge.  Anyway, I know not to try Cap 1 I've already been denied too many times so I'll just keep what I have and pay down my UTL sitting at 63% right now but it's better than the 77% I was at early in the year.  Thanks any advice (good and non judgemental) is appreciated.

[Anonymous]

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@missy42 wrote:

So after reviewing the recent credit approvals I decided since my scores had gone up to apply for a few cards that seemed to be easing their credit requirement here are my results:

AmEX:  Denied

Citibank:  Denied

Discovery:  7-10 days

Chase Freedom - Denied

Dillards - Denied

Target - 7-10 days

Kohls - Approved:  $300 - no go for cli

I'm guessing it all has to do with my current utilization but some seemed very mean especially AmEx.  Either way I'm now in the garden club and will not apply for another card until 2017. I knew AmEx blacklisted but I had a card in 1988 when I was married and we put it in CC Counseling and paid it in full never thought they would continue the grudge.  Anyway, I know not to try Cap 1 I've already been denied too many times so I'll just keep what I have and pay down my UTL sitting at 63% right now but it's better than the 77% I was at early in the year.  Thanks any advice (good and non judgemental) is appreciated.

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Sorry for the denials but just a couple things for the future.  Once you start getting denials on a spree you should stop applying and not adding up the inquiries.  It's fruitless and just damages any chance for a while of any approvals.  Second, it's not a good idea to apply for credit cards with 63% utilization.  It almost assures a denial regardless of credit scores.  In reality, utilization should be at a maximum of 30% or even much lower if scores aren't fantastic before trying for new cards.  I wouldn't assume the Amex denial is related to your card with them from 1988.  More than likely it's a result of your utilization.  You're right to focus on the utilization.  Get that down below 39% and your scores will rise quite a bit and open up the approvals.  Good luck.

[Anonymous]

sorry you got denied for so much so quick. hopefully the cards you were approved for are good enough to use! you'll see another score jump when you get your utilization down to about 50%, then 30% then 10%

[elim]

One of the rules I make for myself is "report perfect utilization before applying for cards (1-9% on 1 card and 0% on the rest).

Try it next time,  You will like the results   :]

[missy42]

Thanks for all the responses I'm gardening until 2017 and just working on my UTI, I'm sure it will be a great 2017 for approvals but I'm good for now at just learning more and more and keeping my current cards paid and current.  Thanks community for all your great advice!

[Anonymous]

Great input here. Just let it guide you and garden until your scores and utilization are doing well. Good luck!

[Anonymous]

Don't be so sure you're locked out of Amex. Your score is somewhat borderline for an approval with them but maybe possible but teamed up with your fairly high utilization I'm pretty sure that was the deal breaker. In fact that was probably what sunk you with most of those apps. Work on getting that utilization down a good bit and garden for a bit as well and you'll probably be pleased with the results next go round. 

[Anonymous]

yeah you would be amazed how much high utilization can impact a score. it's 30% of it! so that's why i said earlier once you pay it down (like you plan on doing) that'll give you a score increase in itself

[NRB525]

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@missy42 wrote:

Thanks for all the responses I'm gardening until 2017 and just working on my UTI, I'm sure it will be a great 2017 for approvals but I'm good for now at just learning more and more and keeping my current cards paid and current.  Thanks community for all your great advice!

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Sorry about the denials, but the upside is, you have clear feedback that you need to garden.

You have quite a few credit cards and LOC in your siggy. 63% utilization translates into how much in total actual dollars outstanding?

[Anonymous]

Sorry to hear about the declines.  Please listen to Irish80, my sentiments exactly.