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Advice Please - Applying for Cards

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Anonymous
Not applicable

Re: Advice Please - Applying for Cards

Update: I decided after reading some posts that I should call the underwriting department for a reconsideration on my PNC application that I did last month. They said that they will definitely reconsider after my CLI and payments show up on my cards. I will have Chase under 40% (YAY! Big jump from 66%), Kohls (I forgot about that one) under 32% by that time. 

Message 11 of 17
--HighHopes--
Regular Contributor

Re: Advice Please - Applying for Cards

That is exactly the same message I got when I applied for the IT card!  I called immediately and asked to speak with a "credit analyst" be sure you specify that.  When I talked with her she asked about the recent inquiries which I explained to her was because 1. I just purchased a new car and 2. The card applications were due to me trying to get a few cc accounts going to help bring my score up and establish a good credit history, but when approved for some of the cards the interest rates and starting lines were not ideal so I wanted to shop around for better cards and I thought Discover was one of the best!lol  Of course they like hearing that you think highly of their products and she advised me that having multiple inquiries cause auto denial or manual reviews through the system and anaylst don't like a lot of inquiries as its a red flag, but since I had a good explanation for them that they were going to approve the application but only for $2500 until I established a history with them at which time I could request CLI's every 6 months.  So that is why I said it's hard to get a good starting line with inquiries.  She told me that was all the system would let her give me to start, but if I hadn't had the inquiries I would have been eligible for $5000 to $7500 :/  So I'm sure its a YMMV situation just like everything else but most definantly call in and talk with them b/c all CCC's can be reconed, but some are known to be better than others, Discover being one of them.

 

You should be able to call back in now!  Do you have your app reference number?  If not they can look it up with your SS# and the regular CSR told me that day that mine wasn't in the system yet either but the anaylst pulled it right up no problem.  Go ahead and try again and even if its a low limit take it and garden it until you get where you want to be.  These CCC's don't really like seeing accounts being opened and closed in such short periods...it kind of spooks them just like the inquiries and new accounts.  Its a very fine line of sensitivity with these companies, but I think you're on the right track and when you get them paid off try to keep your utilization at or below 30% across all cards for best FICO scores and ideally you would want all cards at $0 balance with only one card reporting under 10% Smiley Happy

 

Hope this helps you...and please update us after speaking with them!!




Message 12 of 17
Anonymous
Not applicable

Re: Advice Please - Applying for Cards

High Hopes you are awesome. Kudos kudos kudos. I really hope that this works out. I will definitely let you know as soon as I am off the phone with them.

Message 13 of 17
--HighHopes--
Regular Contributor

Re: Advice Please - Applying for Cards


@Anonymous wrote:

High Hopes you are awesome. Kudos kudos kudos. I really hope that this works out. I will definitely let you know as soon as I am off the phone with them.


Well thank you Smiley Wink I really hope it works out for you also!  I think i've had too long a work week b/c I totally forgot about today being the weekend so I'm not sure how Discover operates, but you may have to wait until Monday to speak with an analyst.  Either way...good luck and fingers crossed for ya!




Message 14 of 17
jsucool76
Super Contributor

Re: Advice Please - Applying for Cards


@Anonymous wrote:

Update: I decided after reading some posts that I should call the underwriting department for a reconsideration on my PNC application that I did last month. They said that they will definitely reconsider after my CLI and payments show up on my cards. I will have Chase under 40% (YAY! Big jump from 66%), Kohls (I forgot about that one) under 32% by that time. 


FYI, if you attempt to recon the PNC card with the "new information" now on your report, especially after 30 days, I am more than sure they will perform another HP. 

 

When do your 0% offers expire? Once they expire, if you still have a balance, all your interest will be backdated basically. So you will pay your standard APR on the whole balance, for the entire term you've had it. (basically going back to when you opened the account) This is where the hell develops when it comes to intro APR offers. I would highly suggest getting on that discover recon for the BT offer. 

Message 15 of 17
Anonymous
Not applicable

Re: Advice Please - Applying for Cards

AHHHH! I can finally produce a sigh of relief today. Discover has approved my application for 4,000 limit 19.9%. BUT there's more. As I discussed I was doing this for a balance transfer card. The girl on the phone let me know that if I went ahead and exceeded my credit limit with a request for balance transfer (Ex. I wanted to transfer 5,500 to the 4,000 card) the system would consider an increase (usually have to wait 3 months).

 

My new limit is now 6,500. Thanks for all your help all!

Message 16 of 17
--HighHopes--
Regular Contributor

Re: Advice Please - Applying for Cards

YAY!!!!!  So glad it worked out for you Smiley Very Happy Now you should be set on the road to success and just remember all the important parts of maintaining your score and you'll be sailing high in no time!




Message 17 of 17
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