cancel
Showing results for 
Search instead for 
Did you mean: 

Got My X1 Denial

mrtech3
New Contributor

Got My X1 Denial

Too many recently opened credit cards and insufficient income for amount requested...What's funny is the process never linked up my accounts and how can I have insufficient income for amount requested when they set the amount...oh well....EX 709...120k yearly income...I do have a few new cards though...maybe next time....

Message 1 of 22
21 REPLIES 21
mark3038
Established Contributor

Re: Got My X1 Denial


@mrtech3 wrote:

Too many recently opened credit cards and insufficient income for amount requested...What's funny is the process never linked up my accounts and how can I have insufficient income for amount requested when they set the amount...oh well....EX 709...120k yearly income...I do have a few new cards though...maybe next time....


Don't take it personally. The UW will just pick a reason from a list. It does not mean it is the real reason. Without knowing your utilization it is hard to say exactly. Also your score is ok but something is holding it down. It could be a late payment or something that is keeping your score from the mid 750's. This will help figure out what went wrong and if you should just apply again in 30 days. But something is not right with your score based on what you wrote here.

Thanks

Mark

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 2 of 22
mrtech3
New Contributor

Re: Got My X1 Denial

I have some 30 day lates from 2019 but weird thing is they are on all  3 reports with the same 15% utilization and my EQ is 724 and TU is 758....

 

Message 3 of 22
mark3038
Established Contributor

Re: Got My X1 Denial


@mrtech3 wrote:

I have some 30 day lates from 2019 but weird thing is they are on all  3 reports with the same 15% utilization and my EQ is 724 and TU is 758....

 


It all depends where you are getting your scores from. The TU website gives out fake scores. People go onto TU thinking that that is their score which it is NOT.. If you go onto EX that is your REAL FICO score, EQ too is giving out fake scores on their site as well.

 

Only real FICO scores are used for this card and many others. EX again is the only  one of the 3 giving out real FICO scores.

 

Credit Karma, Nerd Wallet etc, are all giving out the fake scores.

 

X1 will be looking at your FICO score at EX which is correctly posted on the EX site. There are many other cards you can qualify for but I have not seen any X1 approvals with some recent lates. They tend to give out higher CL's so they are looking for a clean report with no recent lates. In the future to not waste a HP please go on here and post what you are looking for and you will be sent in the right direction instead of hit and miss. I do not suggest you try X1 again for at least a year and watch and see first if anyone is starting to be approved with lates.

Thanks

Mark

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 4 of 22
OmarGB9
Community Leader
Super Contributor

Re: Got My X1 Denial


@mark3038 wrote:

@mrtech3 wrote:

I have some 30 day lates from 2019 but weird thing is they are on all  3 reports with the same 15% utilization and my EQ is 724 and TU is 758....

 


It all depends where you are getting your scores from. The TU website gives out fake scores. People go onto TU thinking that that is their score which it is NOT.. If you go onto EX that is your REAL FICO score, EQ too is giving out fake scores on their site as well.

 

Only real FICO scores are used for this card and many others. EX again is the only  one of the 3 giving out real FICO scores.

 

Credit Karma, Nerd Wallet etc, are all giving out the fake scores.

 

X1 will be looking at your FICO score at EX which is correctly posted on the EX site. There are many other cards you can qualify for but I have not seen any X1 approvals with some recent lates. They tend to give out higher CL's so they are looking for a clean report with no recent lates. In the future to not waste a HP please go on here and post what you are looking for and you will be sent in the right direction instead of hit and miss. I do not suggest you try X1 again for at least a year and watch and see first if anyone is starting to be approved with lates.

Thanks

Mark


While it's true that EQ and TU do not provide FICO scores, it's NOT true that the scores they do provide are "fake." EQ and TU both provide a Vantagescore 3.0, which, while rarely, if ever, used by lenders, is still a real score.


Last App: 12/27/2021
Penfed Power Cash Rewards Visa Signature

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 5 of 22
Jnbmom
Community Leader
Super Contributor

Re: Got My X1 Denial

While CK and wallet hub etc do not provide FICO scores it is clearly stated on their website that they are "Vantage" scores so people should be well aware of that .

 

@mark3038  Please stop stating these are FAKE , they are not they are just a different version and while "most lenders" don't utilize these scores, there are a rare few like Synchrony that do .

EXP 778 TU790 EQ 752
Message 6 of 22
mark3038
Established Contributor

Re: Got My X1 Denial


@Jnbmom wrote:

While CK and wallet hub etc do not provide FICO scores it is clearly stated on their website that they are "Vantage" scores so people should be well aware of that .

 

@mark3038  Please stop stating these are FAKE , they are not they are just a different version and while "most lenders" don't utilize these scores, there are a rare few like Synchrony that do .


Call it as you wish. A friend of mine who is a UW at a major bank told me when I asked her about the Vantage score system;

"Why would we use them? they can swing up to 100  points in either direction and they are NOT accurate scores" This is why they only use FICO scores. You can defend the Vantage system all you want but if banks do not trust it or use it that should say it all. One or two banks may be using them and if you look at those banks they have the lowest customer satisfaction in the industry. Enough saidSmiley Surprised

Thanks

Mark

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 7 of 22
mrtech3
New Contributor

Re: Got My X1 Denial

I am a member of Experian and I have access to all 3 bureaus with current FICO 8 scores....Which are currently 709, 724, 758....I dont have any use for a vantage anything....lol

Message 8 of 22
Jnbmom
Community Leader
Super Contributor

Re: Got My X1 Denial


@mark3038 wrote:

@Jnbmom wrote:

While CK and wallet hub etc do not provide FICO scores it is clearly stated on their website that they are "Vantage" scores so people should be well aware of that .

 

@mark3038  Please stop stating these are FAKE , they are not they are just a different version and while "most lenders" don't utilize these scores, there are a rare few like Synchrony that do .


Call it as you wish. A friend of mine who is a UW at a major bank told me when I asked her about the Vantage score system;

"Why would we use them? they can swing up to 100  points in either direction and they are NOT accurate scores" This is why they only use FICO scores. You can defend the Vantage system all you want but if banks do not trust it or use it that should say it all. One or two banks may be using them and if you look at those banks they have the lowest customer satisfaction in the industry. Enough saidSmiley Surprised

Thanks

Mark


@mark3038 

 

First off I am not defending the Vantage score, I am simply stating the fact that these are scores . Yes a majority of lenders do not rely on these, but the fact remains they are a version.  I personally don't like how they fluctuate compared to FICO but it is what it is.

EXP 778 TU790 EQ 752
Message 9 of 22
SoCalGardener
Valued Contributor

Re: Got My X1 Denial


@mark3038  Please stop stating these are FAKE , they are not they are just a different version and while "most lenders" don't utilize these scores, there are a rare few like Synchrony that do .


I'm a little confused. I routinely see people use the terms 'fake' or 'FAKO' when referring to non-FICO scores. I thought that was an accepted board thing! Smiley Happy

Amazon Prime Store CardAmerican Express Blue Cash Preferred CardAmerican Express Everyday CardBank of America Customized Cash VisaCapitalOne Quicksilver MastercardCapitalOne Quicksilver VisaCapitalOne Walmart Rewards MastercardChevron Texaco CardCiti Double Cash MastercardDiscover More CardJCPenney Gold MastercardOverstock.com CardSportsmans Guide Rewards VisaSynchrony Home Card
Message 10 of 22
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.