Denied for Fidelity card

[Anonymous]

Just thought I'd offer up a data point for anyone interested.

I applied for the Fidelity card earlier this week since my Alliant 3% cash back is ending this month and I wanted a 2% card other than my Citi Double Cash (which I don't particularly care for). I'm in NY and they pulled Experian, which I was surprised / disappointed by since I had 9 inquiries on there. My FICO score, however, is close to 800.

After applying, I got a "we'll let you know in 7-10 days" message. A couple days later, I decided to give them a call and the automated system told me I couldn't be approved. I stayed on the line, though, so I could talk to someone and find out why.

The woman who answered was friendly and let me know that I was declined because I had opened several new cards in the last 12 months (6 to be exact). The number of accounts wasn't the issue, though, it was just the fact that some of them (4) didn't have 6 months of payment history yet. She said I can try applying again in 6 months but, for now, they're not able to reconsider my application.

Oh well. Debating going for the PenFed Power Cash card instead, but I also have a Discover It Miles card which technically earns me 3% until next summer so I'm not sure. Wanted a solid 2% card to replace my DC, though, and so I have a backup for places where Discover isn't accepted.

Anywho, hope this helps someone!

[chiefone4u]

Sorry for the denial. 

Thank you for the DP, this information is likely to be very helpful for other's. 

I would let those new accounts age more before cold apping PenFed as they are against "escalating debt" which includes multiple newly opened accounts. 

[M_Smart007]

OP, Sorry for your denial

As mentioned upthread, probably best to hold off for a bit.

This is not the most favorable lending environment right now.

"IF"? .. you are thinking Penfed down the road, I would start a savings and or checking now.

A relationship with them, would probably benefit you six months down the road. Just my 2 cents.

[Anonymous]

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@M_Smart007 wrote:

OP, Sorry for your denial

As mentioned upthread, probably best to hold off for a bit.

This is not the most favorable lending environment right now.

"IF"? .. you are thinking Penfed down the road, I would start a savings and or checking now.

A relationship with them, would probably benefit you six months down the road. Just my 2 cents.

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I recently put in a very large deposit a month or two ago, I hope this is right lol. 

[OmarGB9]

Sorry about the denial, but thanks for the DP. Good luck in the future.

[Meanmchine]

Sorry for your denial

Even the best race car driver needs to take a pit stop.  Maybe its time you take one too