PreQ denials...and score inconsistencies

Anonymous · ‎11-19-2018

HI all, first time poster...

Trying to boost scores and beef up miniscule credit usage and history.

I'm preQing everywhere with no success...ok ...they don't want me - I can handle that, but at least be accurate in your reasons for rejection.

I preQ'ed a Capital One card designed for rebuilding. Not secured but obviously not perfection.

According to MyFico I'm: Trans 659 Ex 671 Eq 680 and again, a rather puny utilzation history.

Cap One said nah, but at least gave some details as to why. One reason is that they found my score to be a 609! I'm like 609??!! Where's 609 coming from? So who's inaccurate here? I hear Cap One's PreQ's are pretty solid, so now what? It's very frustrating. I dont wanna do HP's just to be rejected since I'm borderline Avg-Good.

In full disclosure I did do an 1109 fairly recently to boot all neg info from all 3 Bureaus. It shot my score up by 90. Ironically I took a recent 30 point dip when Self-Lender (judge me if you must) reported my good payment activity. It brought my scores to where the are currently. I used SL because, again I dont like HP hits when Im borderline.

Any thoughts?

Anonymous · ‎11-19-2018

Self Lender will initially pull you down because of your utilization rate for the loan. It's just temporary assuming you have no other installment loans.

Can't speak to the 1109 and the effect it would have. Decent scores to get denied from Cap 1. Thing that sucks about Cap 1 is their HP's. I would have never had applied with them had I known this. They HP - 3 times!!!

I would suggest NFCU as an option if you can get membership. Best of luck!

Remedios · ‎11-19-2018

@Anonymous wrote:
HI all, first time poster...

Trying to boost scores and beef up miniscule credit usage and history.

I'm preQing everywhere with no success...ok ...they don't want me - I can handle that, but at least be accurate in your reasons for rejection.
I preQ'ed a Capital One card designed for rebuilding. Not secured but obviously not perfection.

According to MyFico I'm: Trans 659 Ex 671 Eq 680 and again, a rather puny utilzation history.

Cap One said nah, but at least gave some details as to why. One reason is that they found my score to be a 609! I'm like 609??!! Where's 609 coming from? So who's inaccurate here? I hear Cap One's PreQ's are pretty solid, so now what? It's very frustrating. I dont wanna do HP's just to be rejected since I'm borderline Avg-Good.
In full disclosure I did do an 1109 fairly recently to boot all neg info from all 3 Bureaus. It shot my score up by 90. Ironically I took a recent 30 point dip when Self-Lender (judge me if you must) reported my good payment activity. It brought my scores to where the are currently. I used SL because, again I dont like HP hits when Im borderline.

Any thoughts?

For credit cards, CapOne uses older scoring model, hence the discrepancy

Anonymous · ‎11-19-2018

Yeah may have to go the CU route.

Thanks for the FB

Anonymous · ‎11-19-2018

I thought about that but according Myfico other/older models have me higher ( mid 700's )

Anonymous · ‎11-19-2018

What's an 1109?

Anonymous · ‎11-19-2018

I meant 609...its the dispute letter to the bureaus to remove neg info from your CR

Sorry.

Anonymous · ‎11-19-2018

That MIGHT be a temporary score boost. Hope it works out for you!

Anonymous · ‎11-19-2018

@Anonymous wrote:
I meant 609...its the dispute letter to the bureaus to remove neg info from your CR

Sorry.

Oh...thanks.

FinStar · ‎11-19-2018

What is PreQing?