Denials For Credit You Did Not Expect

Anonymous · ‎06-04-2018

Happy Monday!

First of, Congratulations to all who have had some successful approvals and limit increases this past month. Reading through the Approvals sections and some topics here and there, I thought to ask, if anyone had an application that they were certain to get an approval for, but received a different result, and if so, which Credit card company would that be? Although I know that each application is YEMV, and scores are but a miniscule factor in the approval process, but I figured, if anyone had actually sat down to really do their research about a certain card, waited for months to ensure that their profile was solid enough to warrant that approval and yet received unfavorable results.

My story is with Barclays UBER Visa card which I left the garden for last March 2018. I started following the threads about it in November when it came live and read through pages of Approvals with profiles similar to mine. I also came across denials which were turned into approvals with recon. I was looking for a Visa Cash back card that had a nice rewards structure and it really enticed me to apply for it, but I waited, I waited until my utilization was down to 1%, I waited for my Amex limit increase to report, waited for my TU score to reach 763. I am mid income 50-55K and AaOA were 1 year at the time of the application. I figured, that I had it in the bag, and that it would only be the SL that might get me either excited or dissapointed, but alas, upon hitting the submit button, it went to further review and within minutes after checking the app status link. Found out I was denied. Did not expect that at all. I sat there thinking where i went wrong. Recon did nothing to help my application, I went through it twice with solid NO's stating that they have denied me due to limited credit history. Which did not make sense since I saw, people with profiles younger than mine between 8 and 9 mos. I think my choice to start late in the Credit game is what kept them from approving the application. What about your experience? Did you want a card that you were most certain to get an approval for that did not turn out the way you wanted?

K-in-Boston · ‎06-04-2018

Great topic! Easy answer for me... Capital One Venture. Over the course of 20 years, I'd combined my original CapOne cards together and had finally combined the last remaining one and a couple of other accounts they had acquired over the years from other lenders into one single Venture One card. The APR was a ridiculous 26.24%, I had never in my life received a CLI from CapOne, and there were no balance transfer offers ever available for the card. After deciding to bite the bullet and assume my card was just bucketed, I applied in February 2017 for the Capital One Venture card assuming a $20-30k starting line based on other data points here. Triple pull and denied. For some reason, CapOne just does not like me. My reports have always been spotless and it never made sense to me seeing how generous they are to so many people with lots of negative credit history, even those that have burned CapOne in the past (and sometimes not very distant past). I ended up closing my last card with them this year; still an AU on DW's card, but it's really useless so we may end up closing it on its 20th birthday next year.

AverageJoesCredit · ‎06-04-2018

Mine is just generally speaking as even with good scores I seem to draw blanks on alot of recent inquiries. Those drive the craziest having hps but nothing to show for it. Probably the most surprising yet thoroughly disappointing was my last Penfed experience. 2 years of history with them, exceptional pay on time and early on my personal loan , scores you would think would warrant an approval from someone who has shown responsible use and reliable, only to be rejected. My score has even reached 810 FICO 9 but I believe all they would do with that is laugh at me. I've just noticed income and dti are more important than scores sp it is a little disheartening to say the least.

CCrew · ‎06-04-2018

Chase Sapphire surprised me. I have 2 cars financed with them so it's not like there's no existing relationship. Had every expectation that it would be approved. Got the 30 day on application, got the 7-10 day on the automated phone check, now 45 days later not an accept or deny and phone still says 7-10 days.

Decent scores across the board all sitting around 750, albeit sitting dead on their 5/24 cutoff.

Anonymous · ‎06-04-2018

@K-in-Boston wrote:
Great topic! Easy answer for me... Capital One Venture. Over the course of 20 years, I'd combined my original CapOne cards together and had finally combined the last remaining one and a couple of other accounts they had acquired over the years from other lenders into one single Venture One card. The APR was a ridiculous 26.24%, I had never in my life received a CLI from CapOne, and there were no balance transfer offers ever available for the card. After deciding to bite the bullet and assume my card was just bucketed, I applied in February 2017 for the Capital One Venture card assuming a $20-30k starting line based on other data points here. Triple pull and denied. For some reason, CapOne just does not like me. My reports have always been spotless and it never made sense to me seeing how generous they are to so many people with lots of negative credit history, even those that have burned CapOne in the past (and sometimes not very distant past). I ended up closing my last card with them this year; still an AU on DW's card, but it's really useless so we may end up closing it on its 20th birthday next year.

Thanks for the reply K! May I ask, what their reasons where for denying you the card? I'd never expect you to get denied with any credit application. LOL! I closed mine, on the first signs of non growth with Capital One. Although they helped me build my history. Are you ever considering the Venture again in future? Or decided to move on to greater cards?

Adkins · ‎06-04-2018

Banco dos Brasil. My profile was decent based on approvals I was seing but they didn't like my recent loans and new accounts plus I got flagged for fraud because I live outside Florida. (Others have slipped through and been aproved that don't live in Florida!). It was a hit to my rebuilding ego at the time.

Last HP 08-07-2023

Anonymous · ‎06-04-2018

@AverageJoesCredit wrote:
Mine is just generally speaking as even with good scores I seem to draw blanks on alot of recent inquiries. Those drive the craziest having hps but nothing to show for it. Probably the most surprising yet thoroughly disappointing was my last Penfed experience. 2 years of history with them, exceptional pay on time and early on my personal loan , scores you would think would warrant an approval from someone who has shown responsible use and reliable, only to be rejected. My score has even reached 810 FICO 9 but I believe all they would do with that is laugh at me. I've just noticed income and dti are more important than scores sp it is a little disheartening to say the least.

Sorry to hear that AJC! I know you posted about that application sometime last year. Was it your first CC attempt with them? What were their reasons for denial? And no recon?

dlister70 · ‎06-04-2018

I tried for the Citi Double Cash card a couple months ago. They pulled Experian which was sitting at around 740, and I was denied. The reason stated was negative payment history. I did have some late payments from other banks in 2014, and the most recent was a 30 day late in Feb. 2015 on a Citi backed Home Depot card. I've paid all those cards off since then, and have not been late on any payments since Feb. 2015, so it kind of suprised me. I called the executive office number and tried to recon, but they denied me for the same reason after about 10 days.

I asked how long I should wait for the old late payments to not be a factor anymore, but they said they couldn't tell me that and that I could just try again whenever I wanted to.

I really want to get a 2% card, so I may try them again after six months has gone by. My Discover It still has the cash back match until September, so it's effectively 2%. If I can't get a Citi DC by the time Discover runs out, I may try to get a 2nd Discover It and hope for another year of cash back match.

Anonymous · ‎06-04-2018

@dlister70 wrote:
I tried for the Citi Double Cash card a couple months ago. They pulled Experian which was sitting at around 740, and I was denied. The reason stated was negative payment history. I did have some late payments from other banks in 2014, and the most recent was a 30 day late in Feb. 2015 on a Citi backed Home Depot card. I've paid all those cards off since then, and have not been late on any payments since Feb. 2015, so it kind of suprised me. I called the executive office number and tried to recon, but they denied me for the same reason after about 10 days.

I asked how long I should wait for the old late payments to not be a factor anymore, but they said they couldn't tell me that and that I could just try again whenever I wanted to.

I really want to get a 2% card, so I may try them again after six months has gone by. My Discover It still has the cash back match until September, so it's effectively 2%. If I can't get a Citi DC by the time Discover runs out, I may try to get a 2nd Discover It and hope for another year of cash back match.

Sorry to hear about your denial OP. Have you considered other 2% Cashback card, like the Blisspay or the Paypal Rewards Mastercard? Both of those accounts are offering 2% CB on everything.

Anonymous · ‎06-04-2018

@Adkins wrote:
Banco dos Brasil. My profile was decent based on approvals I was seing but they didn't like my recent loans and new accounts plus I got flagged for fraud because I live outside Florida. (Others have slipped through and been aproved that don't live in Florida!). It was a hit to my rebuilding ego at the time.

Would you ever think of applying with them again once those loans and new accounts have aged? I only ask because, since my denial with Barclays I have already crossed them off entirely. And told myself that, I would focus on companies that may want to give me a shot.