Not getting pre-qualified for a single credit card!!!

[Anonymous]

Hello,

I have been checking pre-qualified sites for a month now. No one is providing me with any offers, not even with start-up credit cards such as CapOne Plat. I have tried BofA, CapOne, Discover, Amex no one is willing to accept me. What could be the reason?

A bit about myself

Fico 8: 706

1 settled charge off with Citi - 3 years back

3 lates on BofA - 3 years back

1% CC Utilization

11k student loan - recently paid 20k out of 31k.

3 CCs - Bofa $7900, Capone QS $3500, CapOne plat - $3850

100K income

Also no one is approving me for a loan too. Tried lendinglcub for personal loan, I didn't pre-qualify (I was pre-qualified last month). Last month I was pre-qualified for Amex GC, BC and one more. CapOne pre-qualified me for Savor, Venture etc. BofA was pre-approved for travel rewards and one more.

What happened suddenly? My score went up 8 points this month :\

Please help!

[AverageJoesCredit]

Not sure but being prequalified doesnt necessarily mean you will always be approved nor does it mean that is how they want you as a customer. With your income, credit is your oyster so when you decide a product suits you and your needs, knowing your profile and what a lender likes to see, apply and you'll find that often you dont need prequals.

Lol, i know i say it alot, but i hsve never been prequaled for anything and it hasnt stopped me from being approved by most lenders. Also what are looking for? you have good limits on your 3 cc so i dont think that should hold you back. Best of luck on your journey....


Ps , try Credit Unions as well, they love people with high income

[KingPredator]

To add the AJC’S comment I too was never able to get a pre-approval in this case with discover and I applied and was approved.

[Peteyglad]

I agree with the others. I don't get prequalifiers much anymore, yet I haven't had a denial in many years .

[Anonymous]

Hey,

  Ok, here are SOME of the reasons why banks haven't been able to approve you for a credit card.

1: Your utilization ratio is too low, 1% only. This may sound silly BUT, if you don't use a credit card, there's no reason for them to give you one. Try to stay under like 20% and you are good. Don't use too much but not using at all also doesn't help, you gotta find the perfect balance.

2: Late payments. It doesn't matter if it was 3 years ago, if it is in your credit report, it counts. 

This is all I can think about for now, I mean, you do have some CCs with some good credit lines and remember, just because you aren't "pre-approved", doesn't mean that they won't approve you. I was never pre-approved for the cards that I applied and so far I've been only declined once, I believe. Anyways, good luck!