Not getting approved for anything

[Miajames2567]

I recently paid off my debt I had two cc closed due to bounced payments & two credit cards that were at their limit or higher. It totaled up to a little under 2k. I also had one 30 day late payment that I disputed which got it removed. After paying my debt my credit score went up 150 points to 726. I waited a little before applying to pre qualify but everything is not accepting me. Experian and credit karma keep recommending me capital one but they keep telling me I've had bad history with them due to the bounced payments. When I called I was told to try again tmr and I'm still days later getting the same message. The only things I can think of is my ongoing disputes with transunion but they already updated my credit to match the others. I have 100% on time payment for all 3 and 2% credit utilization for all 3. I even applied for Citi bank because I have an account with them with over 6k in there but that just resulted in me having a hard inquiry smh.... I really should've not done that. The only other thing is that I've had chase close a bank account with a balance but I paid it right when it happened it was $130 it never went to collections and the guy told me it hasn't went on my consumer report either... I'm not even getting approved for secured cards so please let me know if y'all could give me some insight on this situation 

I'm 19 and make 41,600 a year 

[SouthJamaica]

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@Miajames2567 wrote:

I recently paid off my debt I had two cc closed due to bounced payments & two credit cards that were at their limit or higher. It totaled up to a little under 2k. I also had one 30 day late payment that I disputed which got it removed. After paying my debt my credit score went up 150 points to 726. I waited a little before applying to pre qualify but everything is not accepting me. Experian and credit karma keep recommending me capital one but they keep telling me I've had bad history with them due to the bounced payments. When I called I was told to try again tmr and I'm still days later getting the same message. The only things I can think of is my ongoing disputes with transunion but they already updated my credit to match the others. I have 100% on time payment for all 3 and 2% credit utilization for all 3. I even applied for Citi bank because I have an account with them with over 6k in there but that just resulted in me having a hard inquiry smh.... I really should've not done that. The only other thing is that I've had chase close a bank account with a balance but I paid it right when it happened it was $130 it never went to collections and the guy told me it hasn't went on my consumer report either... I'm not even getting approved for secured cards so please let me know if y'all could give me some insight on this situation 

I'm 19 and make 41,600 a year 

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My advice would be to stop applying for things at this point, and let some time pass.

[Miajames2567]

Yea that's what I figured thanks. Just curious to why that would be though ?

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@SouthJamaica wrote:

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@Miajames2567 wrote:

I recently paid off my debt I had two cc closed due to bounced payments & two credit cards that were at their limit or higher. It totaled up to a little under 2k. I also had one 30 day late payment that I disputed which got it removed. After paying my debt my credit score went up 150 points to 726. I waited a little before applying to pre qualify but everything is not accepting me. Experian and credit karma keep recommending me capital one but they keep telling me I've had bad history with them due to the bounced payments. When I called I was told to try again tmr and I'm still days later getting the same message. The only things I can think of is my ongoing disputes with transunion but they already updated my credit to match the others. I have 100% on time payment for all 3 and 2% credit utilization for all 3. I even applied for Citi bank because I have an account with them with over 6k in there but that just resulted in me having a hard inquiry smh.... I really should've not done that. The only other thing is that I've had chase close a bank account with a balance but I paid it right when it happened it was $130 it never went to collections and the guy told me it hasn't went on my consumer report either... I'm not even getting approved for secured cards so please let me know if y'all could give me some insight on this situation 

I'm 19 and make 41,600 a year 

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My advice would be to stop applying for things at this point, and let some time pass.

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[Rogue46]

Most likely its your short credit history combined with the derogs spooking them. Give it some time and try again down the road.

[M_Smart007]

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@Miajames2567 wrote:

Yea that's what I figured thanks. Just curious to why that would be though ?

@Miajames2567 

If you continue to get declined while still applying, you are only going to rack up "Inquiries" that will just hurt more.

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@SouthJamaica wrote:

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@Miajames2567 wrote:

I recently paid off my debt I had two cc closed due to bounced payments & two credit cards that were at their limit or higher. It totaled up to a little under 2k. I also had one 30 day late payment that I disputed which got it removed. After paying my debt my credit score went up 150 points to 726. I waited a little before applying to pre qualify but everything is not accepting me. Experian and credit karma keep recommending me capital one but they keep telling me I've had bad history with them due to the bounced payments. When I called I was told to try again tmr and I'm still days later getting the same message. The only things I can think of is my ongoing disputes with transunion but they already updated my credit to match the others. I have 100% on time payment for all 3 and 2% credit utilization for all 3. I even applied for Citi bank because I have an account with them with over 6k in there but that just resulted in me having a hard inquiry smh.... I really should've not done that. The only other thing is that I've had chase close a bank account with a balance but I paid it right when it happened it was $130 it never went to collections and the guy told me it hasn't went on my consumer report either... I'm not even getting approved for secured cards so please let me know if y'all could give me some insight on this situation 

I'm 19 and make 41,600 a year 

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My advice would be to stop applying for things at this point, and let some time pass.

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[Miajames2567]

I only did pre qualify and 1 hard inquire so now I only have 2 one from my current cc and Citi bank but yes I will leave it alone lol gonna let some time pass 

[SouthJamaica]

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@Miajames2567 wrote:

Yea that's what I figured thanks. Just curious to why that would be though ?

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@SouthJamaica wrote:

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@Miajames2567 wrote:

I recently paid off my debt I had two cc closed due to bounced payments & two credit cards that were at their limit or higher. It totaled up to a little under 2k. I also had one 30 day late payment that I disputed which got it removed. After paying my debt my credit score went up 150 points to 726. I waited a little before applying to pre qualify but everything is not accepting me. Experian and credit karma keep recommending me capital one but they keep telling me I've had bad history with them due to the bounced payments. When I called I was told to try again tmr and I'm still days later getting the same message. The only things I can think of is my ongoing disputes with transunion but they already updated my credit to match the others. I have 100% on time payment for all 3 and 2% credit utilization for all 3. I even applied for Citi bank because I have an account with them with over 6k in there but that just resulted in me having a hard inquiry smh.... I really should've not done that. The only other thing is that I've had chase close a bank account with a balance but I paid it right when it happened it was $130 it never went to collections and the guy told me it hasn't went on my consumer report either... I'm not even getting approved for secured cards so please let me know if y'all could give me some insight on this situation 

I'm 19 and make 41,600 a year 

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My advice would be to stop applying for things at this point, and let some time pass.

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Time heals all wounds in FICO scores. The older your accounts, the fewer new inquiries, the better your scores. Also, anything negative in your profile diminishes in importance with age. The passage of time + not getting into trouble = improving scores.

Even apart from scores, lender algorithms don't like a lot of new activity.

[youngandcreditwrthy]

Maybe I didn't read correctly, but do you have any open revolving accounts  AT ALL? and do you know what your AAOA is at ALL?

That Chase Rise card might be a good one, but you need to let the dust settle and all the databases we dont know about update (like that stupid Sage Stream and Lexis Nexis... OH YEAH and Check your Telecheck thing if you can...bc ALL creditors have the ability to see your bounced checks via telecheck ) Good luck getting anything removed from there.

unfortunately, there is so much more data than just credit reports that the government hasn't mandated we have access to.

Also, if you have a lot of student loans and auto loan debt (I didn't see this when I read but maybe?) your DTI could be too high.

like if you make 41,600 a year and have 100k in student and auto loans.... even an 800 Fico couldn't overcome that because it's a Debt To Income issue.

otherwise check into those other data sources.. like I know 100% that Apple Card checks Sagestream (which is owned by transunion)

Welcome to American hell with all this wild almost always inaccurate data about us everywhere.

P.S. many lenders use old soft reports to deny or approve accounts so some may still be using old soft pulls from before you got everything improved.. and if that 30 day was recent (regardless of score) itll be hard to get approved with a lender like Amex that soft pulls every week and uses soft pulls for accounts or even BOA or even Chase. Pull a report and check the soft inquiries section so you can get an idea if interested

my student loans went 90 days past due during the pandemic but that was almost 4 years ago and mostly I have no issues getting approved for anything and my score has ranged between 650-750 from then til now. 

Don't forget you can also ask for reconsideration.. and basically explain what you just explained to everyone here to a real person on the phone. You should still be able to get a 5 or 10k credit card (possibly starting out) with those stats once the dust settles, but those bounced checks in telecheck are gonna be hard to overcome. I think you can dispute stuff with telecheck and lexis nexis but its all snail mail and that stupid sage stream thing.. omg dont get me started.

Good luck

[OCONUS]

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@Miajames2567 wrote:

I recently paid off my debt I had two cc closed due to bounced payments & two credit cards that were at their limit or higher. It totaled up to a little under 2k. I also had one 30 day late payment that I disputed which got it removed. After paying my debt my credit score went up 150 points to 726. I waited a little before applying to pre qualify but everything is not accepting me. Experian and credit karma keep recommending me capital one but they keep telling me I've had bad history with them due to the bounced payments. When I called I was told to try again tmr and I'm still days later getting the same message. The only things I can think of is my ongoing disputes with transunion but they already updated my credit to match the others. I have 100% on time payment for all 3 and 2% credit utilization for all 3. I even applied for Citi bank because I have an account with them with over 6k in there but that just resulted in me having a hard inquiry smh.... I really should've not done that. The only other thing is that I've had chase close a bank account with a balance but I paid it right when it happened it was $130 it never went to collections and the guy told me it hasn't went on my consumer report either... I'm not even getting approved for secured cards so please let me know if y'all could give me some insight on this situation 

I'm 19 and make 41,600 a year 

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What are your TU and EQ Ficos?

What is your debt?

Your income is 41K

How many inq on TU and EQ in the last 6 months?

Any revolving open accounts?

Current Utilization?

What state do you live in?

Any family memeber in the military or any military affiliation?

Do you have any cash (500-5000) on hand that you could possibly freez for say 6-8 months without having any serious financial hicups?

[Anonymalous]

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@Miajames2567 wrote:

I recently paid off my debt I had two cc closed due to bounced payments & two credit cards that were at their limit or higher. It totaled up to a little under 2k. I also had one 30 day late payment that I disputed which got it removed. After paying my debt my credit score went up 150 points to 726. I waited a little before applying to pre qualify but everything is not accepting me. Experian and credit karma keep recommending me capital one but they keep telling me I've had bad history with them due to the bounced payments. When I called I was told to try again tmr and I'm still days later getting the same message. The only things I can think of is my ongoing disputes with transunion but they already updated my credit to match the others. I have 100% on time payment for all 3 and 2% credit utilization for all 3. I even applied for Citi bank because I have an account with them with over 6k in there but that just resulted in me having a hard inquiry smh.... I really should've not done that. The only other thing is that I've had chase close a bank account with a balance but I paid it right when it happened it was $130 it never went to collections and the guy told me it hasn't went on my consumer report either... I'm not even getting approved for secured cards so please let me know if y'all could give me some insight on this situation 

I'm 19 and make 41,600 a year 

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What credit score? VantageScores, like those from Credit Karma? Those don't count for much. There are two free, generally available sources for FICO scores: The free plan at Experian gives you EX FICO 8, and the free plan at MyFico gives you EQ FICO 8.

More generally, you're 19. That means you can't have had a credit card for much more than a year. Most lenders want to see a couple years of credit history, so that puts you in the range of cards like the Chase Freedom Rise, the Capital One Platinum, or the Discover It. If you're having problems with starter cards, the next step down is secured cards. But since you're having problems with secured cards... well, that tells us lenders are seeing something in your profile that makes them even more skittish than usual. The lenders you a relationship with, like Cap1, can see everything you've done with them, like the super-high utilization and bounced payments. That's enough.

But if you're getting rejected by other lenders, see what your credit reports say. Don't rely on some guy telling what's on your credit report. Go to annualcreditreport.com, and pull your 3 reports. That's the official site, the one the 3 major credit bureaus created to comply with government regulations. It's completely free, it doesn't involve giving your data to yet another third party, they now allow you to pull a report every week, and their reports are more complete than you'll find elsewhere, because they also include all the soft pulls. Go over them, and find all the negatives, like late payments or collections. That will tell you why you're being denied.

You might also want to pull your ChexSystems report. That's another credit bureau that's more focused on deposit accounts. It'll probably show that snafu with Chase.