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PNC Bank Cash Rewards Visa Decline

Dave4fun
Regular Contributor

PNC Bank Cash Rewards Visa Decline

I was watching the Golden Gate Warriors play off game a couple of weeks back. A TV commerical came on for PNC Bank. I thought to myself, hmmmm, they might have a great card with a nice Sign Up Bonues (SUB). I was still in the 'market' for a couple more new cards inorder to get a SUB for upcoming summer time spending.  The product looked great, so I applied on my smart phone. Easy application. After hitting the 'submit' about 12 seconds went by.  Then: We are sorry to inform you....a letter with our reasons for the decline will be sent to you...

A week later the letter came:

Your application was processed by a credit scoring system that assigns a numerical value in the various items of information we consider in evaluating an application. The information you provided in your application did not score a sufficient number of points for approval of the application. The reasons you did not score well compared to other applicants were:

1. Number of accounts opened recently

2. Total number of credit inquiries

3. Recent credit inquiry 

So, fair enough (I guess) In the last 12 months I have opened 4 new revolving accounts. They pulled Experian. On Experian at the time of their pull I had 2 INQs in the last 12 months.  The recent (3rd) inquiry was their inquiry (LOL)  

The credit score they provided was 840 (from Experian) 

 

I admit I was a bit surprised....so feeling a bit wounded I did fill out a couple more applications...

FICO 8 EQ: 841, TU: 830, EX: 821 Total Rev CL: $538,000 - BANK of AMERICA/CHASE/CITIBANK/DISCOVER/ USBANK/AMEX/COMENITY MC/NORDSTROM/MACYS/BARCLAYS/FNBO/ JCPENNY/TARGET/CHEVRON/1ST UNITED CU/PATELCO CU/SYNCH 2% MC/ VENMO VISA Sig/ DILLARDS AMEX/ PENFED PLAT REWARDS/PENFED PLOC/Synch Walgreens MC/WELLS FARGO. AAoA 12 years
Message 1 of 17
16 REPLIES 16
OmarGB9
Community Leader
Super Contributor

Re: PNC Bank Cash Rewards Visa Decline

Sorry for the decline. I'm not familiar with whether they're conservative or not. 


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 2 of 17
cashorcharge
Community Leader
Senior Contributor

Re: PNC Bank Cash Rewards Visa Decline

Well, I hope the other applications had a better turn out...but 4 new accounts in 12 months may lead to a wall with some others too. 

 

Message 3 of 17
CreditCuriosity
Moderator Emeritus

Re: PNC Bank Cash Rewards Visa Decline

Intertesting and sorry for your denial.  Have three pnc cards currently, granted one was a bbva converted to pnc, but never really been a really conservative lender as last one i got from cold app was likely around 20/24 or something along those lines.  With that said all depends on profile whether aaoa, income, scores etc.  also uw can change obviously as well.

Message 4 of 17
Dave4fun
Regular Contributor

Re: PNC Bank Cash Rewards Visa Decline


@cashorcharge wrote:

Well, I hope the other applications had a better turn out...but 4 new accounts in 12 months may lead to a wall with some others too. 

 


Absolutely agreed @cashorcharge ! My scores were in the 840s and now Exp at 809! There are just so many great cards out there.  However,  definitely I need to use what I have and be happy with the great cards that I do have.

FICO 8 EQ: 841, TU: 830, EX: 821 Total Rev CL: $538,000 - BANK of AMERICA/CHASE/CITIBANK/DISCOVER/ USBANK/AMEX/COMENITY MC/NORDSTROM/MACYS/BARCLAYS/FNBO/ JCPENNY/TARGET/CHEVRON/1ST UNITED CU/PATELCO CU/SYNCH 2% MC/ VENMO VISA Sig/ DILLARDS AMEX/ PENFED PLAT REWARDS/PENFED PLOC/Synch Walgreens MC/WELLS FARGO. AAoA 12 years
Message 5 of 17
JLRDC909
Regular Contributor

Re: PNC Bank Cash Rewards Visa Decline

Sorry about your decline.  I was always under the impression that PNC was a conservative bank. I only have the PNC Rewards, but started off with a CL of around $3500 (which is very low for me). Took about a year or year and 1/2 to finally get a CLI. 

I would classify them as conservative. I'm also not sure how good they are about recon either 

JR
Message 6 of 17
coldfusion
Community Leader
Mega Contributor

Re: PNC Bank Cash Rewards Visa Decline

They are fairly conservative when it comes to inquiries and new accounts although not at a USBank or BarclayUS level of paranoia. Their mailed preapprovals are pretty solid but you won't see many starting limits from them more than $20K.

(8/2022)
FICO 8 (EX) 830 (TU) 834 (EQ) 831
FICO 9 (EX) 839 (TU) 848 (EQ) 846

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 7 of 17
calisig
Regular Contributor

Re: PNC Bank Cash Rewards Visa Decline

according to Proud Money, he ranks PNC 4th hardest to get approved in his list of 16 major card issuers.

1Aug22 Exp F8: 802
Message 8 of 17
SouthJamaica
Mega Contributor

Re: PNC Bank Cash Rewards Visa Decline


@Dave4fun wrote:

I was watching the Golden Gate Warriors play off game a couple of weeks back. A TV commerical came on for PNC Bank. I thought to myself, hmmmm, they might have a great card with a nice Sign Up Bonues (SUB). I was still in the 'market' for a couple more new cards inorder to get a SUB for upcoming summer time spending.  The product looked great, so I applied on my smart phone. Easy application. After hitting the 'submit' about 12 seconds went by.  Then: We are sorry to inform you....a letter with our reasons for the decline will be sent to you...

A week later the letter came:

Your application was processed by a credit scoring system that assigns a numerical value in the various items of information we consider in evaluating an application. The information you provided in your application did not score a sufficient number of points for approval of the application. The reasons you did not score well compared to other applicants were:

1. Number of accounts opened recently

2. Total number of credit inquiries

3. Recent credit inquiry 

So, fair enough (I guess) In the last 12 months I have opened 4 new revolving accounts. They pulled Experian. On Experian at the time of their pull I had 2 INQs in the last 12 months.  The recent (3rd) inquiry was their inquiry (LOL)  

The credit score they provided was 840 (from Experian) 

 

I admit I was a bit surprised....so feeling a bit wounded I did fill out a couple more applications...


What I don't get about it is that they seem to be specifically saying that the reason for the decline was your score : "Your application was processed by a credit scoring system that assigns a numerical value in the various items of information we consider in evaluating an application. The information you provided in your application did not score a sufficient number of points for approval of the application."

 

They can't possibly be talking about your FICO score. How much better than 840 can one do?

 

So I guess it must be some internal scoring system, which is focused on folks who aren't adding a lot of new accounts, and which does not care so much about credit payment history, utilization, and other FICO factors other than the aging factors.


Total revolving limits 699000 (597000 reporting) FICO 8: EQ 732 TU 721 EX 698

Message 9 of 17
Guyatthebeach
Valued Contributor

Re: PNC Bank Cash Rewards Visa Decline

Dave4fun,

 

PNC is the most conservative bank I have dealt with.  If you live near a branch, you should take that letter to the branch and see if the bank associates will submit a branch level recon for you. I don't know if they still do those now, but I know PNC was still doing them a couple of years ago. 

Guyatthebeach

Message 10 of 17
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