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5% Utilities including Cable/Cell Phone/Internet - Vantage West

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Senior Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West


@SBR249 wrote:

I was declined for this card a week ago. The reasons they gave were "escalating debts" and "insufficient income to support credit line requested".

 

For DP:

My income is 30-40K, asked for 10K CL (it was ambitious but was hoping for a counteroffer), they pulled EX and my score was 796. There was 2 inqs on EX but I think one had just dropped off a few days prior to my app so idk if they saw that. 

 

What probably did me in was the fact that I had gotten 6 new CCs in the past 3 months and raised my total available credit from ~40K to ~100K. My reported balances possibly went up a bit (I recently moved back into the country after a few years abroad) but still ~1% util. I guess that still made me an Egyptian. Smiley Tongue

 

I applied for the CC without joining, but ended up joining as a member after the decline anyway. Might as well put that GABA membership I paid for to use if I ever want to app the card again in the future. 


Yeah, Vantage West can be a bit touchy with a bunch of new recent credit accounts, although I'm surprised they pulled that on you with an EX Fico of 796. I app'd for the Connect Rewards in September and was declined for "insufficient income to support credit line requested", which I think is their generic decline. My EX was 695 and I had just gotten a $15k car loan with them and app'd for the card because the rep agreed to use the same HP. Besides the new car loan with no payments recorded yet I had 3 new CCs in the past 4 months and the rep told me they were "uncomfortable" with that much new credit and to try again in 6 months, but the letter came with the generic "insufficient income" message. I'm going to try again in the spring, after some inquiries fall off - I ended up with 4 EX pulls with the car buying, I know FICO is supposed to combine those successive HPs for the same thing, but I'm not seeing that on my EX CR, shows me with 10 inquiries.


Fico 08: 734/716/734 TU/EX/EQ
Message 31 of 117
Established Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

Yeah, I think the overly ambitious CL request probably pushed it over the line even if they would have overlooked the 6 new recent cards. 

 

In any case, I mainly got this card for the 5% cashback at warehouses as I do shop at Costco a lot and wanted to see whether I could avoid having to float the money on cash cards when Discover runs their quarterly bonus. But I can always do the Discover thing instead for the time being so I will just garden until this latest spate of TLs have aged and ripened. 

 

As for your car loan inquiries I think all inquiries for car loans or mortgages within a certain time period are treated as one when calculating your FICO score, but they are not physically combined into one inquiry. Lenders should see that these inquiries are for car loans and match them with the fact that you (likely) opened a loan TL reported shortly after the inquiry dates and not penalize you for them. 

Message 32 of 117
Frequent Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

I forgot to mention that I had a 760+ FICO and no new accounts or INQ's for almost a year when I applied.  I was waiting for the USAA Limitless that just never happened.  You request your own Credit Limit on the application and I just went for $5k to get over that Visa Sig threshold for whatever subconcious reason I think that matters.

 

One big thing that I forgot to mention is that I will only use this card to pay 5 bills and nothing else.  Their language for Fraud resolution is super sketch.  They have the normal Federal Rules offered by the CFPB, but there is some strange stuff about a $25 "Account Research" fee if you ever have to open a case.  I can't seem to find the language they used in the agreement, I think it is in a Fee Disclosure thing they send you when you open the account and I can't find a copy of it online.  Either way, I wouldn't really feel comfortable using this card as a daily spender, especially outside of their normal geographic zone.

Message 33 of 117
Community Leader
Super Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

Does anyone know just how recent new accounts sensitive they really are? Not concerned about inquiries or income but the app spree I had in October is a concern for me based on what I'm reading here. More than likely will bite the bullet regardless but any experience in this would be great.

Message 34 of 117
Regular Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

Definately want that card!!

What CRA did they pull?!

FICO 8 as of 10/29/2018; EQ: 688 TU: 722 EX: 711
Inquires: EQ: 3 TU: 4 EX: 6| AAoA: 1y 8m
Amex Rose Gold: NPSL
Amex BCP: $6000| Amex Everyday: $2000| BofA Cash Rewards VS: $10100| BofA Travel Rewards VS: $27600| Discover It: $5700| Citi DC WE: $4500| Chase Amazon Prime: $18000| Capital One Venture VS: $16000| Chase IHG Rewards: $16700| BJ's Perks Elite (Comenity): $11100| Chase Freedom: $5000| Samsung Financing (TD Bank): $7500| USAA Rate Advantage: $12000| Macy's Store Card: $15000| Kay (Comenity): $7800| Capital One QSO: $500.

$160200 Total Limit
Message 35 of 117
Established Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West


@mfrizz92 wrote:

Definately want that card!!

What CRA did they pull?!


Experian

Message 36 of 117
Frequent Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

It's definitely on my radar but, I'll have to wait a bit first. A mini app spree in November has me cooling my heels in the garden. 

 

Thanks for sharing!

Starting Score (May 2017): 584 TU
Current Scores: 699 TU, 770 EQ, 775 EX

Goal Score: 820+




Message 37 of 117
Frequent Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

I just checked one of my other statements and it does look like Google Play Music is under the MCC of Direct Marketing/Recurring Subscriptions.

 

Also, found out Hulu codes as the Cable TV MCC code...wondering if Netflix does, too...

Message 38 of 117
Valued Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West

Don’t be so sure on Ex

They pulled EQ for me yesterday
NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 39 of 117
Frequent Contributor

Re: 5% Utilities including Cable/Cell Phone/Internet - Vantage West


@fltireguy wrote:
Don’t be so sure on Ex

They pulled EQ for me yesterday

This is the reply I got from them regarding bureaus:

"If Experian for some reason is offline we may use Equifax or TransUnion but mainly Experian is used."

Personal:

Business:



(TU Split File - FIXED!)
Message 40 of 117
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