Cannot get approved - Any Tips or Help??

[firemartinez1980]

Below is a screenshot of my credit info from Experian as of today. My scores are average I would say.

I just closed on a new Mortgage and that hasn't hit my credit yet, so the only balance I have on anything is my vehicle.

I have missed no payments in the last 3 years on anything

Yet I have tried to do the "Pre-Approvals" for credit cards from Lowes, Home Depot, Wayfair, etc and they ALL get denied. Now I know this isnt the same as an actual application, but the approval process is, correct?

So why am I getting denied for everything? I just bought a $250,000 home with NO issues, but cannot get approved for a store card, lol

[Anonymous]

your mortgage score is way higher than the other versions

also the short explanation would be

 mortgage = secured and backed by income verification 

credit card = unsecured and simple application 

[FinStar]

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@firemartinez1980 wrote:

Below is a screenshot of my credit info from Experian as of today. My scores are average I would say.

I just closed on a new Mortgage and that hasn't hit my credit yet, so the only balance I have on anything is my vehicle.

I have missed no payments in the last 3 years on anything

Yet I have tried to do the "Pre-Approvals" for credit cards from Lowes, Home Depot, Wayfair, etc and they ALL get denied. Now I know this isnt the same as an actual application, but the approval process is, correct?

So why am I getting denied for everything? I just bought a $250,000 home with NO issues, but cannot get approved for a store card, lol

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Beyond the mortgage approval, have you addressed any of the issues associated with the thread you posted not long ago, specifically with Credit One?

https://ficoforums.myfico.com/t5/General-Credit-Topics/Closing-Card-Score-Drop-Help-Credit-One-Conta...

The pre-qualified sites you recently attempted should've provided the reasons why you didn't qualify.  What were the reasons?

[AverageJoesCredit]

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@firemartinez1980 wrote:

Below is a screenshot of my credit info from Experian as of today. My scores are average I would say.

I just closed on a new Mortgage and that hasn't hit my credit yet, so the only balance I have on anything is my vehicle.

I have missed no payments in the last 3 years on anything

Yet I have tried to do the "Pre-Approvals" for credit cards from Lowes, Home Depot, Wayfair, etc and they ALL get denied. Now I know this isnt the same as an actual application, but the approval process is, correct?

So why am I getting denied for everything? I just bought a $250,000 home with NO issues, but cannot get approved for a store card, lol

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Prequals  mean squat imo, you got a house which trumps all, you are fine. Having a preapproval or prequal / or lack thereof doesnt  always speak volumes on approval odds. 

[firemartinez1980]

I had a 30 day late from Credit One show on my report, but that was fixed and deleted since it was never actually late. Other than that the only explanation I get for denial is "Too many inquiries" and "Balances to high" yet the only balance I have is an auto loan, all my other debt is paid off.

I 

[Harvey26]

@firemartinez1980 Have you tried discover? I got denied for Home Depot Prequal went to the store and got a 5K SL

[firemartinez1980]

No I haven't tried any hard pull applications. I didn't want to be denied and then it hurt my credit. I don't really need the cards, but it would be nice for projects and things needed for our house. I just thought if you cannot get pre-approved then you won't get approved at all

[rostrow416]

650 is gonna be hard to get solid pre-approval with tbh.  You have 4 negative factors affecting your score, if you can address those and bump your score up some, the pre-approvals will come.

[OmarGB9]

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@firemartinez1980 wrote:

No I haven't tried any hard pull applications. I didn't want to be denied and then it hurt my credit. I don't really need the cards, but it would be nice for projects and things needed for our house. I just thought if you cannot get pre-approved then you won't get approved at all

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Being denied wouldn't hurt your credit necessarily. Yes you'd take a HP, but that won't necessarily drop your score. After a certain amount of HPs, they stop lowering your score.

And no pre approval /= no approval. You can be pre approved and then get denied on the actual app. Likewise, you can have no pre approvals anywhere and still apply, take the HP, and find yourself getting approved.

[Anonymous]

Prequals/preapprovals are generally for people with higher credit scores than you have. You would probably have a good chance for some cards on manual review.

Since it uses FICO 9 and those numbers can be a bit higher than 8 at times, maybe try Apple Card.

The nice thing about Apple Card is it doesn't do a HP unless you accept it but it will tell you your limit and APR if you are approved before you accept it. If you don't have an iPhone or iPad, I would skip it because you lose out on a ton of features but if you have one or the other, its a no-brainer.

If you're eligible for NFCU, they would very likely approve you but their limit might start off between $500-$1K. They can grow pretty large though.