Back-to-back denials....

[pi-r-squared]

Looks like I may have reached my upper-limit with credit cards.  And it's mainly because of bad history...  I APPed for a Citi Simplicity Card and Bank of America BankAmericard just to see if having my BKs removed would help.  I got rejected outright by Citi (too many recent inquiries) and also by BoA.  BoA, however, did pre-select me for their secured card.....  Funny how I have 1 Lowes, 2 Ventures, 1 Quicksilver, 1 Discover IT, and 1 Barclaycard totalling $96,500 credit but BoA would only offered a secured one....  

Well, I gather I will have to garden for about 2 years.  Then all my inquiries will vanish and I can start from scratch....

[Anonymous]

Do the secured if it's the 99/500. I did and not even a year later mine has been unsecured and it is at 5K

[Anonymous]

Sorry to hear! you'll get them next time

[padme]

you didnt take the BOA secured?> they just dont offer it to just anybody

[Anonymous]

I applied for and was denied that card at 18 months post discharge. I was offered the secured but I decided against it. At 25 months post bk I applied for the BofA BBR and was instantly approved online. I'm guessing that card has easier underwriting criteria (MC versus Visa???) or has lower starting limits so they can start you off slower.

Moral of the story, the secured offer is good. It unsecures. But there is hope to get approved down the road, try a different card with them if it works for you.

[Vegas4Play]

How many inq. do you have? more than the cards in your post worht?

[pi-r-squared]

Before buying our new car, I think I averaged 8 INQs on each CRA. After, it's 13 recent inquiries... Maybe too many too fast because of the car shopping?

[Anonymous]

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@Anonymous wrote:
Do the secured if it's the 99/500. I did and not even a year later mine has been unsecured and it is at 5K

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I started with the same and and less than a year later it was unsecured. It is a good way to begin. Now I have three cards with 43k of credit with them. It was so worth it.

[pi-r-squared]

Ok, I got the official rejection letter in the mail from BoA. The reasons for denial were the following:

Proportional of balances to credit limits too high on revolving / installment account
Too many recent inquiries within the last 12 months
Length of time accounts have been established
Time since most recent account opening is too short

EX score was 713 on their paper.

The number of inquiries has to do with a very recent new car purchase. And I opened a Quicksilver and Barclaycard not that long ago.

I read these reasons as GOOD because they were part of the BK-7 burn. It didn't mention anything about bad prior relationships or past experiences. Both Citi and BoA listed those reasons. Both didn't have all those reasons but neither one said anything about bad prior experiences... I did indeed get an application for a pre-selected 99/500 secured card. Thus, I have the option of waiting and gardening for 2 years to let all my INQs drop. Besides, wouldn't it look bad to the CRAs that I have a secured card?

[Anonymous]

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@pi-r-squared wrote:

Looks like I may have reached my upper-limit with credit cards.  And it's mainly because of bad history...  I APPed for a Citi Simplicity Card and Bank of America BankAmericard just to see if having my BKs removed would help.  I got rejected outright by Citi (too many recent inquiries) and also by BoA.  BoA, however, did pre-select me for their secured card.....  Funny how I have 1 Lowes, 2 Ventures, 1 Quicksilver, 1 Discover IT, and 1 Barclaycard totalling $96,500 credit but BoA would only offered a secured one....  

Well, I gather I will have to garden for about 2 years.  Then all my inquiries will vanish and I can start from scratch....

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I have 180k in total CL and BofA wouldn't give me a card beside their 99/500 card lol I also don't have a BK