I would have thought the same thing Aduke!
Two friends of mine both applied to Prosper for personal loans (funding through Web Bank). First one (my DGF) was turned down ($10K loan) for not meeting their lending criteria (scores low 700's, never a baddie, 3%< utilization). Second one had 680's and 690's scores (don't know utilization) and was turned down for not enough history with tradelines (he said his AAoA was 2 plus years). Their criteria is probably much different for personal loans but I guess as always YMMV.
Klarna may be using Web Bank for funding but they are a separate company... Just like how Elan operates many CU's credit cards and even some banks...
If im reading it right, Klarna really has little interest in the builders ... they want folks with more established credit.... and they can request different qualifications for their customers through web bank....
@ joltdude, thanks for that explanation, it makes a lot of sense! I'm still VERY new to the credit world and still tryin' to figure it all out!! Looks like Klarna won't be on my radar until I'm a lot more established!
Wishing you a great year ahead in 2017!
@Anonymous wrote:@ joltdude, thanks for that explanation, it makes a lot of sense! I'm still VERY new to the credit world and still tryin' to figure it all out!! Looks like Klarna won't be on my radar until I'm a lot more established!
Wishing you a great year ahead in 2017!
As others have mentioned. id keep trying for the SCT periodically (esp if your score goes up)....
But please, do not go overboard with SCT cards....
Get one or perhaps two youd really use....
Also it doesn't mean they may not change their criteria .... But for now.. its not in rebuilder territory...
But there is a hint of hope... Not trying to confuse but in the same articles I was reading there was mention that although we are seeking primarily established folks that they might be open to others.. But they are not the target audience/demographic right now..
Thanks again joltdude!
I'm sitting tight right now and concentrating on the big picture. One of the most pleasant things I will do this month is to close my Credit One Visa. The card was a great part of my initial rebuild but I am happy to say it will soon be in my rear view mirror!
Chapter 7: Discharged November 2015
11/15 Fico 8: EQ-585, TU-550, EX- 551
07/16 Fico 8: EQ-703, TU-695, EX- 660
09/16 Post App Spree Fico 8: EQ-675, TU-675, EX-663
12/01 Fico 8: EQ-660, TU 707, EX:675
Cap One Platinum $2K>$4K, Cap One Quicksilver $3K, Discover $1,600>$1800$2300, SPGVisa $4500, Red Roof Inn Siggy Visa $5K, Good Sam/Camping World Visa $1800, Overstock $7K>$7300, Lowe's $6K>$17K, NFCU Cash Rewards Visa $4600>$22K, NFCU CLOC $15K, NFCU Go Rewards $5500, PenFed Promise Visa $10,500, Evine $1K>$5K, HSN $3750, CreditOne Visa $600 Auto & RV Loans $87K|Total CL: $197K ish
@Anonymous wrote:Thanks again joltdude!
I'm sitting tight right now and concentrating on the big picture. One of the most pleasant things I will do this month is to close my Credit One Visa. The card was a great part of my initial rebuild but I am happy to say it will soon be in my rear view mirror!
Chapter 7: Discharged November 2015
11/15 Fico 8: EQ-585, TU-550, EX- 551
07/16 Fico 8: EQ-703, TU-695, EX- 660
09/16 Post App Spree Fico 8: EQ-675, TU-675, EX-663
12/01 Fico 8: EQ-660, TU 707, EX:675
Cap One Platinum $2K>$4K, Cap One Quicksilver $3K, Discover $1,600>$1800$2300, SPGVisa $4500, Red Roof Inn Siggy Visa $5K, Good Sam/Camping World Visa $1800, Overstock $7K>$7300, Lowe's $6K>$17K, NFCU Cash Rewards Visa $4600>$22K, NFCU CLOC $15K, NFCU Go Rewards $5500, PenFed Promise Visa $10,500, Evine $1K>$5K, HSN $3750, CreditOne Visa $600 Auto & RV Loans $87K|Total CL: $197K ish
I am ALL FOR folks closing Credit One as soon as possible.... i presume its paid off or BTed off.... Dont delay... do it today... for the love of MyFico... Burn, Shred, Mutilate that Credit One card as soon as possible.. BUT do keep aware and hold on to your acct number untill your SURE they closed it..
Do it today.. you don't need the albatross around your neck.. you have plenty of credit to replace it...