Declined by Comenity Bank with 723 Fico!!! Feedback Please? Go ahead yell at me!!

[Anonymous]

Declined by Comenity Bank! with 723 Fico! and only almost 1 inquiry in the past year- May 11, 2015!

I'm so MAD at Comenity Capital Bank and at myself!!!

I should have known better. I left the Garden Club after 10 months of gardening  and Fico were EXP 735, TU 722, EQ 724

and I applied for 2 cards on March 15 approved for both!

March 15

1-Synchrony Ebates 15K

2-BBVA NBA Amex 20K

I told myself I should go back and stay in the garden. But... then, I got an a pre-approved offer from Synchrony Stash Visa, so I accepted it!

April 6,

3-Stash Visa 12K

Then Everybody talks about the Blispay Card, so I apply for that

April 9

4-Blispay $7500

Then, Everybody start talking about the new "Marveleous" Marvel Card!

April 26

5-Synchrony Marvel 8K

Last night May 1, I receive an email from ebay about a "Special offer for you from ebay" with a link to put my date of birth and social security to apply for "PAYPAL CREDIT" with no interest no payment for 6 months and after reading about it-and learning about the "hidden credit line" I decided to submit!

I got an immediate denial and I was able to view the denial letter with the sole reason:

Too many accounts recently opened in your credit file

I got an alert this morning that my Equifax fico went down 6 points!!!!! from 723 to 717!!!!!!!!

I was happily gardening for over 10 months and my Fico score were upper 720's and 735. 

I'm thinking I should have stopped! Lesson learned!

I'm so back to the garden for at least 6 months to a year! or longer!

[Anonymous]

No yelling as it has already happened. Sorry to hear about the denial and congrats on all the approvals.  Don't apply for cards because everyone is talking about them.  Apply for cards that fit your spending habits.  That being said, that was quite a spree and it is a good time to stop.

The new cards will decrease your AAoA and increase your inquiry counts.  So set the expection of scores decreasing...

[Anonymous]

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@Anonymous wrote:

No yelling as it has already happened. Sorry to hear about the denial and congrats on all the approvals.  Don't apply for cards because everyone is talking about them.  Apply for cards that fit your spending habits.  That being said, that was quite a spree and it is a good time to stop.

The new cards will decrease your AAoA and increase your inquiry counts.  So set the expection of scores decreasing...

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I agree!

Thank you for your reply Yes-Its-Me!

Actually, I like all the cards I applied for except for the Stash Visa which seems to have limited hotels and an annual fee of $85 after the first year. 

I really wanted the Ebates visa, and Blispay program is fantastic and I live in Southern California so, I will use the Marvel card at Disneyland and themes parks and even Comic book shops! It felt good to get approved 5 out of 5! Until I got declined with Comenity-that I don't have any accounts with! Time to stop!

[Anonymous]

Sorry this happened, Designer91. I'm sure you are disappointed. Stay firm in the garden and grow your current lines and you will do well.

Comenity is not worth it. They SP me a good amount and I'll be glad to be rid of their two Visas next year. They're just unpredictable and unprofessional.

Someone posted an article a while back that Comenity (formerly called WFNB) was rejecting people with 800 FICO scores for Gander Mountain credit cards because Comenity thought their credit was too "good." This is a lender that just doesn't make any sense.

http://www.startribune.com/when-is-good-credit-too-good-ask-gander-mountain/97125744/

Another thing that helps when you garden strong and then have a misstep is to ask yourself why it happened, and think of steps you can take to ensure it doesn't happen again. Hope this helps a bit.

Sorry for the denial but you are building a nice profile and keep your eye on the end goal.

[Anonymous]

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@Anonymous wrote:

Sorry this happened, Designer91. I'm sure you are disappointed. Stay firm in the garden and grow your current lines and you will do well.

Comenity is not worth it. They SP me a good amount and I'll be glad to be rid of their two Visas next year. They're just unpredictable and unprofessional.

Someone posted an article a while back that Comenity (formerly called WFNB) was rejecting people with 800 FICO'S for Gander Mountain cards because they theought their credit was too "good." This is a lender that just doesn't make any sense.

http://www.startribune.com/when-is-good-credit-too-good-ask-gander-mountain/97125744/

Another thing that helps when you garden strong and then have a misstep is to ask yourself why it happened, and think of steps you can take to ensure it doesn't happen again. Hope this helps a bit.

Sorry for the denial but you are building a nice profile and keep your eye on the end goal.

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Thank you Humu, your feedback is always very valuable to me. I'm mad because all 3 Fico scores were above 720 with Experian dropped from 735 to 729 after the addition of 4, but now because of the only inquiry I have on Equifax in the past year it dropped to 717! I wonder how long it would take to recover from the loss of 6 points. Surprisingly, the scores didn't change much from the addition of 4 new accounts ( Tu 722 down to 721, EQ 724 down to 723). Blispay still is not showing up as a new account yet.

[creditguy]

Getting declined by Comenity may be a blessing in disguise. You probably saved yourself from some heartache later on down the road with all their recent weirdness.

[Anonymous]

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@creditguy wrote:
Getting declined by Comenity may be a blessing in disguise. You probably saved yourself from some heartache later on down the road with all their recent weirdness.

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This.

[Anonymous]

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@Anonymous wrote:

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@creditguy wrote:
Getting declined by Comenity may be a blessing in disguise. You probably saved yourself from some heartache later on down the road with all their recent weirdness.

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This.

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Double and triple this.