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USbank recon failed

bmis42988
New Contributor

USbank recon failed

So I applied for the altitude go about 10 days ago and just recieved my denial letter for too many inquiries. I went over my report and counted 20 but 15 of them were for auto loans over a year ago for shopping out the loan for the best rates. I called in to the recon line and spoke with the rep about the reason I was denied. I told her that the majority of them were for an auto loan and because of my banking history and products with them, I asked them to reconsider their decision. She placed me on hold and came back and said "Everything on your report looks good but we like to see no more than 3 or 4 inquiries and you have quite a few more than that." I went on to explain again that they were from an auto loan. She said "regardless of where they're from, we only like to see 3 or 4 inquiries max. I would let them fall off and reapply in a year." I thanked her for her time and decided not to pursue it any further.

Some DPs:
Pulled EX: 686
20/24 inqs (5 for CC's, rest are auto)
3.6 years AAoA
Have 7 years of banking history with a secured card that has not graduated.

TU: 687 EQ: 670 EX: 665
Message 1 of 8
7 REPLIES 7
mark3038
Established Contributor

Re: USbank recon failed


@bmis42988 wrote:

So I applied for the altitude go about 10 days ago and just recieved my denial letter for too many inquiries. I went over my report and counted 20 but 15 of them were for auto loans over a year ago for shopping out the loan for the best rates. I called in to the recon line and spoke with the rep about the reason I was denied. I told her that the majority of them were for an auto loan and because of my banking history and products with them, I asked them to reconsider their decision. She placed me on hold and came back and said "Everything on your report looks good but we like to see no more than 3 or 4 inquiries and you have quite a few more than that." I went on to explain again that they were from an auto loan. She said "regardless of where they're from, we only like to see 3 or 4 inquiries max. I would let them fall off and reapply in a year." I thanked her for her time and decided not to pursue it any further.

Some DPs:
Pulled EX: 686
20/24 inqs (5 for CC's, rest are auto)
3.6 years AAoA
Have 7 years of banking history with a secured card that has not graduated.


US Bank and Chase are really impossible to get new credit from if you have so many inquries. I too have quite a few. Citi Bank and their co branded cards would be a good choice for you. Like the Best Buy Visa. Also PenFed may look the other way. Don't give up there are plenty of good cards and banks that will take you on.

Thanks

Mark

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 2 of 8
M_Smart007
Legendary Contributor

Re: USbank recon failed


@mark3038 wrote:


"US Bank and Chase are really impossible to get new credit from if you have so many inquries."

Thanks

Mark


Guess I am the outlierSmiley Very Happy

Thanks

Smart

Message 3 of 8
M_Smart007
Legendary Contributor

Re: USbank recon failed

OP, Sorry for you US Bank denialSmiley Sad

Hang in there, we've all had them. You'll knock it dead one day!

Message 4 of 8
mark3038
Established Contributor

Re: USbank recon failed


@M_Smart007 wrote:

@mark3038 wrote:


"US Bank and Chase are really impossible to get new credit from if you have so many inquries."

Thanks

Mark


Guess I am the outlierSmiley Very Happy

Thanks

Smart


They may issue you cards since your specialSmiley Surprised

I have that with Citi , WF and a few others. They rather throw a good customer a bone then deny them.

I do not have that kind of relationship with Chase or US Bank. I just have a few credit cards with each and the cards that I do have are very old 

Thanks

Mark

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 5 of 8
IntegerIntrovert
Regular Contributor

Re: USbank recon failed

Have you considered applying to have your secured card graduated? 



EQ - 768 / TU - 777 / EX - 772
Message 6 of 8
Harvey26
Valued Contributor

Re: USbank recon failed

@bmis42988 Sorry to hear about denial I think also your score might have a play as well.

Macys Amex: 8K , Bloomingdales Amex: 2K , BOA Customized Cash Rewards: 32K , Amex BCE: 12K , Best Buy Visa: 7K , Banana Republic Visa: 5K Target Store Card: 2K VA Credit Union Mastercard: 10.5K Wells Fargo Active Cash: 11.3K Discover: 25K, Amex Gold: NPSL
Fort Lee Federal Credit Union Auto Loan: 34K @ 2.49%
AU: Chase Amazon: 12K
Message 7 of 8
sjt
Senior Contributor

Re: USbank recon failed

When do those 5 credit card inq. fall off?

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum, Business Cash
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) EX: 809 / EQ: 824 / TU: 812
Message 8 of 8
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