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Denied for Redstone Federal (Harvest) - TWICE

Shooting-For-800
Senior Contributor

Denied for Redstone Federal (Harvest) - TWICE

I was denied for ONE reason:

"Frequency of financing."

 

What is that supposed to mean?  

I have student loans paid ahead a year, 1 car that is has $5k left out of $35k, no mortgage (DW), no furniture cards, no personal loans, no other store cards than what is listed below.  Only store card with balance is Blue Nile which is new and has 0% promo at about 60% utilization.

 

Thoughts???

 

DP = 725-730 fico8, 694 fico9, six figure income, no derogs, 10% utilization (0%)

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship, Synchrony, Evergreen, & Venture



2 REPLIES 2
FinStar
Moderator

Re: Denied for Redstone Federal (Harvest) - TWICE

My guess would be the reported balance on your Blue Nile card as one factor.  Not sure what other factors they're looking at that would yield that reason.  Have you done any BTs, intro purchase promotions, or carried any balances in the past 12 months?

 

I would let this one go (at least for a while) if this was your 2nd attempt.  You can bat for round 3 once you have no other high balances and see what it yields at that point.

Message 2 of 3
Shooting-For-800
Senior Contributor

Re: Denied for Redstone Federal (Harvest) - TWICE

Yes, I have balances in 0% promotions.

 

I waited a year since my last application.

Oh, I will never apply again.

 

I just wanted to get in with RedStone (I thought).

 

More DP: 1-2 inquiries per report.

 

 

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship, Synchrony, Evergreen, & Venture



Message 3 of 3
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