Rejected from Alliant Visa Signature

[Anonymous]

 Hey, I applied for the VISA Signature card from Alliant last night, and today I was notified that I was rejected. They pulled my TransUnion Credit Score, which was 746. They cited limited credit experience and too many accounts currently open as reasons why I was rejected. Is there any way I can appeal this decision? Has anyone ever had success appealing to Alliant?

[FinStar]

Hi and welcome to the forums OP.

You can try appealing the decision, but Alliant is well-known to stick with the original decision, unfortunately.

They tend to be on the conservative side, especially with their Visa Signature product. If declined, there's no consideration for the Platinum card.

[Anonymous]

That's a bummer, I really wanted the card. Would I be able to reapply at some point? If so, when? And what should I do to increase my chances of getting accepted?

[FinStar]

If you have a limited or young profile, that's the only setback at the moment.

What does your overall profile look like? What tradelines do you have and credit limits? AAoA? Any negatives?

[xaximus]

I agree with FinStar - OP. Depending on how your trade file looks, Alliant is usually pretty conservative. They prefer to see a decent AAoA and TCL. Also, the Visa Signature is their flagship card so it may be harder then the others they offer. I would give it a few months before you re-apply. This will help age your account and hopefully get approved.

[Anonymous]

Like I said, credit score is 746. My oldest credit card was opened 2 years ago, average age of credit is around 7-8 months. No negatives, no missed payments, low credit utilization, and only 3 hard checks still on my TransUnion report according to Credit Karma, and none of them in the last few months. I also only have credit cards, no real estate/any other type of loan. I currently have 9 credit cards, but 2 of them are business cards, so only 7 on the credit report.

Cards/CL's:

Chase Sapphire ($9500)

Discover It ($8000)

Citi Double Cash (was $5900 when I applied, but today I requested a CLI and it's now $11,400)

Discover It Student ($5500)

Chase Freedom ($2500)

Capital One Journey ($1600)

Walmart ($1500)

Business cards:

Chase Ink ($18,000)

Amex Delta Gold ($3000)

[FinStar]

Seems like you have a fairly solid set of tradelines. Business Cards won't really help with this endeavor since those 2 don't report to personal CRs.

Given you mentioned the short AAoA, how many of those accounts are new or opened in the past 6-12 months?

[Anonymous]

The Discover It Student card is my oldest card, it was opened just under 2 years ago. Other than that, they were all opened in the past year, with the Freedom and Journey cards being the oldest of the bunch, which were opened 10 months ago. My newest cards are the Citi Double Cash and Walmart cards, which were opened 3 months ago.

[xaximus]

That might be the issue - the AAoA - 7-8 months is relatively short. I'm making an educated guess here to assume Alliant is like Chase, where they like to see atleast a 1 year AAoA. Also, it may play a role with your newest cards being only 3 months old. Alliant is relatively conservative and usually like to see accounts open for atleast 6-12 months. Again, all speculation but from data points that I have seen, this seems to align with that.

[Anonymous]

So I guess I should reapply in around 4-5 months then, when my AAoA is over a year, and all my individual accounts are at least 6 months old?