@AverageJoesCredit wrote:
@Anonymous wrote:Are banks still opening new cards & giving out CLI's for high credit scores? My credit score is above 800. Just how tight are the lending standards today? How likely are they to open accounts and give out CLI's to people with excellent credit scores? If not now, then how about in 3-4 months from now?
Scores are not the only thing Banks consider when giving out credit so having an 800 score while pretty isnt the be all tell for approvals. Usually 800 scores can get easier approvals in the best of times but we no longer are in best of times. No one here can tell you the future so months from now is wishful thinking lol. In my humble opinion if you have 800 scores, havent been credit seeking recently and have a stable income, your chances at a new card/ cli are much better than say a person with 800 scores who just lost their job. Its best to add as much dp about your current credit file and what specifically are you interested in.
+100
Having high scores is not enough information to give any kind of real answer. Lots of inquiries/ credit seeking, high utilization, loss of income, lender, recent accounts, etc. are all reasons for not getting an approval. Even more so in today's climate. Making any predictions for a few months out would also be premature, but I don't see things changing overnight. Improving the economy and restoring confidence to lenders will probably take a long time.
