I went in this past weekend to buy a new TV with the intent to pay cash. I got approached by an employee that started telling me about the the special financing if I applied for the store card. It was 18mo 0% if you spent 499 +. So I said what the heck, why not free money for 18mo. The only thing that was holding me back was that I didn't want a ding on my FICO score since I just recently joined the 700 club, and I plan on buying a new vehicle in the next 3-4mo.
I got approved for for a lousy $750! Now I was really thinking what a waste of a score hit. They also pre-approved me for the Rewards MC issued by HSBC but couldn't give me a CL unless I applied. They told me it would only count as one inquiry so I went for it. At first she tells me they declined me! At this point I'm really ticked off and couldn't believe that HSBC would decline me with the scores I have plus I already have a HSBC MC with a 0 bal.
So I go about my way and start looking at a new TV to buy when I noticed the gal who ran my app comes running up to me and says they made a mistake and I was approved for $2500! She brings me back to her computer and shows me that they must have hit enter 2X when they submitted it. On the screen it showed my info on there, one saying "NO" and the other saying "CL 2500".
I would have much rather received the higher limit on the store card for the 18mo 0% cuz the MC only earns rewards points that are only good on store purchases. O'well.
Anyone know how long it will take for my FICO score to recover?
