Apporama 2024

[drchaos]

E-mail from Capital One had a link to the rejection letter.

I have included an exerpt below:

The reason(s) for our decision are:
• Based on your credit report from one or more of the agencies on the back of this letter, number of
bank cards tradelines opened in the last 24 months
• Based on your credit report from one or more of the agencies on the back of this letter, there have
been too many recent inquiries
• Based on your credit report from one or more of the agencies on the back of this letter, there are
too many revolving accounts
I

[youngandcreditwrthy]

What's your current score?

I know you've done well with the cards and what not, but one obstacle you may encounter is "too many accounts with balances" even if your overall utilization is perfect 8%.

The BankAmericard I LOVED when I was constantly bouncing 0% debt around. The Slate Edge limit was always way too **bleep** low. Its almost like Chase hates approving the Slate card. THey approved me for 1000 while my Marriot had 25, CSP 10k, and CF OG was 5k.

That said, with the BankAmericard.. many times you can even use their blank checks to write for cash to yourself and even refinance debt you have with them PLUS it seems like they keep track internally of when you haave aBT expiring so they always have new offers coming in the mail for like 2.9% no fee 14 months or 3% fee 0% for 16 months. Stuff like that.

Penfed might accuse you of debt pyramiding. My profile was similar to yours at one point and penfed always used that stupid reason. 

back to BOA, they might only approve you for 5-10k instantly online BUT you can easily get a CLI. I got mine to I think it was nearly 25/30k before I even got the card with another HP. BOA will also offer you BTs over the phone. sometimes give you an extra month of 0% and literally deposit the cash from a BT offer directly into your checking account so its then cash and you can use to pay off any card (even theirs!)

I think it would serve you well to really research credit unions. Ive heard baxter is a good one, BMO has great offers or has had in the past few months.

You might also have more luck with pefed since you have an auto loan with them. You might even considering cleaning up some of those smaller balances and paying them in full completely and letting them report so you dont risk getting denied for "too many accounts with too many balances" or something stupid like that.

Good luck :-) I paid off 150k in debt with 0% credit card BTs and my credit score is actually lower a few years after lol

[drchaos]

Looks like AMEX card has a $10K limit.

Still waiting to hear from US Bank and PNC Bank.

[drchaos]

Just got off the phone with AMEX.

I was hoping to move part of the limit from my existing card ($25K) to the new card but they said no.

They did say that I could charge up to $25K on the new card but that I could only carry $10K at 0% and would have to pay off the remainder in addition to my minimum payment the following month.

[Brian_Earl_Spilner]

Us bank will probably be a denial if they see all your hard pulls. As for chase, they're going to pull your reports again within the next 2 months. If they deem all your inquiries and new accounts as excessive credit seeking, they may close the slate.

Best of luck with your apps. 

[drchaos]

Chase already said no.

PNC and US Bank are the question marks.

[youngandcreditwrthy]

US Bank will prob be a no, they were conservative on new accounts even when were in a deflationary environment in 2008. 

I hate this "too many new accounts' "too many balances" garbage.

You really should have paid off all those little baby balances that were reporting (if in fact they were reporting as I interpreted from your og post). I've gotten to the point where I don't even like $19 report on my stupid target card. 

This is only when applying for credit ofc.

and that stupid slate card is MUCH MORE difficult to get than people think as is BOA. Boa is great once you're in though!

and what's up with Amex limiting you BT amount? Never heard of them doing that crazy ish.

do you know what your scores are now? I'd like to know for data point purposes what BOA had your score at and what they're denial reason(s) were? @drchaos 

[AJ67]

---

@drchaos wrote:

Applied for 10 of the 12 cards this morning, here are the results:

1. Chase Slate Edge - Declined

2. American Express Cash Magnet Card - Approved, do not know limit yet

3. TD Flex Pay Credit Card - Aprroved $25,000 limit

4. Bank Americard Credit card - Declined

5. PenFed Gold Visa® Card - Declined

6. Navy Federal Credit Union CashRewards - Pending

7. AARP® Essential Rewards Mastercard® from Barclays - Did not apply, 0 % BT offer now has 5% fee, no 0% on purchases

8. US Bank Business Platinum Credit Card - Pending

9. Capital One VentureOne Rewards Credit Card - Declined

10. Fifth Third 1% Cash/Back card - Could not apply, lady on the phone said they only cover Midwestern States

11. Citi Custom Cash® Card - Declined

12. PNC points® Visa® Credit Card - Pending

Very surprised by some of the rejections.

Chase was the first card I applied for, I didn't think there was any way they would say no.

---

I'm thinking to apply for the TD Flex...do you know what score/credit bureau they used? 

[drchaos]

Not sure which credit bureau is used by TD Bank.

i have gotten my rejection letters from at least three more companies which I will be posting when I have a chance.

My new AMEX card arrived in the mail today.

Citi and Discover were two of the last cards I applied for (fairly low balances from them in the past) so both had too many inquiries among the reason for rejection as I had already applied to ten cards before Discover and eight ot nine before Citi.

Years ago you could apply for a dozen all at once and they usually wouldn't get wise for at least a week.

Those days are sadly over.

[AJ67]

Thanks. I read on the forum that they pulled Exp.