Dollar Bank

[Ron1]

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@12njoy wrote:

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@Ron1 wrote:

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@12njoy wrote:

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@B335is wrote:
Sorry to hear it 12njoy. What's your AAOA?

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1.8 on TU

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WoW!!! You are doing good with 1.8 years AAOA.  You got all these good cards.

Ron.

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Thanks Ron.  I was really surprised how quickly these came.  Now looking back it was quick.  I accummulated most within about 14 month timeframe.  At the time of trying to build up, I was frustrated because it seemed like it wasn'y going fast enough.  I'm done until the next craze hits.

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You did a good job within 14 months. I couldn't have done it.  Don't feel bad about the Dollar Bank. Move on. There is a plenty of cards for you to get. 

Ron.

[12njoy]

Thanks Ron I'll be looking for the next craze

[B335is]

I think the AAOA may be the issue. Mine isn't a whole lot older (like 2.5 years), so it sounds like they're pretty conservative. Thanks for GP this one 12njoy, it's a good data point for us.

[12njoy]

Anytime B335. I might try recon depending on what the letter actually says.

[FinStar]

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@12njoy wrote:
Is anyone else biting on this one?

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Nope.  Not sure it's worth to add anything extra for me   Even if you had been approved, it's simply crawling to your next goal.  Time to rest sir!

[12njoy]

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@FinStar wrote:

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@12njoy wrote:
Is anyone else biting on this one?

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Nope.  Not sure it's worth to add anything extra for me   Even if you had been approved, it's simply crawling to your next goal.  Time to rest sir!

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Agreed

[B335is]

This is bugging me. I wonder why they insist on you calling in if you're denied? I mean it's not like losing your job or something.

[12njoy]

@B335,

I know that makes no sense to have you call.   Email should have just said a letter would be sent in 7-10 days. 

[12njoy]

Called Dollar Bank back today for more information as follows:

1. Applications are reviewed by a team.

2. Denied due to insufficient credit references (history not long enough)

3. Denied for too many inquiries in the last month (I had 8).

I also asked what other criteria they look at.  He said they look at debt/income ratio.  If it's at or over 40% they will decline also since they are a small bank.  I asked if it was possible for reconsideration, he said yes but if they just declined application they most likely will do so again.  I was told to reapply in 3 months.  I'll have to pass on that.

[12njoy]

FYI,

I finally got around to calling Dollar Bank.  They want to see history of more than two years and not a lot of recent activity.  I asked about the inquries and was told that there is no specific number that they discourage, but I had 8 within the month before applying.  They said I just had too much activity on my reports.  Were not willing to open up any account at the present time.