Good scores but can't get approved for anything.

[JustMeeeee]

Most, if not all, bad items have recently been removed from my credit report. I now have an EX score of 704 (from the EX website) and an EQ score of 755 (from this website). I don't know my TU because I can't find it for free, but it *used* to be my highest score before the others went up, so it should be going up as well. I recently applied for several cards and the only thing I was able to get was a $5K Home Depot Consumer Card. I did the pre-approval tool for every major bank  (Chase, Citi, Discover, Capital One and American Express) and not one would give me anything. I also did an actual app with BoA since I bank with them (thought that would help) and they don't have a pre-approval tool. We could really use the HD card to rehab a rental we need to get done, so I'm glad I was approved for it, but I literally could not get an actual card that can be used anywhere. I do have three small student loans in forebarance so they show the full balance and one active credit card I have had since 2001 (Fortiva $430 limit, showing about 30% util at the time). My credit age shows about 12 years due to some cards I used to have using the shopping card trick that I closed because I never used them Not sure why I still can't get something good? I know Cap 1 has me "blacklisted" from 7+ years ago and possibly Chase too, but I never had a card with any of the others. 

[SouthJamaica]

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@JustMeeeee wrote:

Most, if not all, bad items have recently been removed from my credit report. I now have an EX score of 704 (from the EX website) and an EQ score of 755 (from this website). I don't know my TU because I can't find it for free, but it *used* to be my highest score before the others went up, so it should be going up as well. I recently applied for several cards and the only thing I was able to get was a $5K Home Depot Consumer Card. I did the pre-approval tool for every major bank  (Chase, Citi, Discover, Capital One and American Express) and not one would give me anything. I also did an actual app with BoA since I bank with them (thought that would help) and they don't have a pre-approval tool. We could really use the HD card to rehab a rental we need to get done, so I'm glad I was approved for it, but I literally could not get an actual card that can be used anywhere. I do have three small student loans in forebarance so they show the full balance and one active credit card I have had since 2001 (Fortiva $430 limit, showing about 30% util at the time). My credit age shows about 12 years due to some cards I used to have using the shopping card trick that I closed because I never used them Not sure why I still can't get something good? I know Cap 1 has me "blacklisted" from 7+ years ago and possibly Chase too, but I never had a card with any of the others. 

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1. The fact that you didn't find preapprovals does not mean you wouldn't be approved.

2. In view of your recent applications you should wait before applying for anything new.

3. You should probably pull your 3 credit reports, and see how many scorable inquiries (inquiries during the last 12 months) you have.

4. You should keep the reported balances of your existing 2 cards at 28% or less.

5. When you can tell us how many scorable inquiries you have, over what period of time, we will be able to give you more concrete advice on when to apply and for what to apply.

[pizzadude]

Good callouts in the post above, if your only open revolving accounts are the two cards you mentioned then you also could consider opening a secured card in order to have an account with a higher CL which may help your other accounts CLs grow as well.

[FrankenBeans]

This is going to sound silly, but since you said you're using pre-app tools, are your credit files unfrozen? 

Have any of the companies given a reason they can't approve? 

[AndySoCal]

@JustMeeeee  I agree with the guidance that has already been given. From your post sounds like you are near or have completed rebuilding your credit. A good first step. My suggestion would be to look at a credit union near you.  I would suggest that would be a good place to get a secured credit card from. The credit union might be able to help you in other areas as well. Credit Union loan rates as a rule are lower than a typical bank.

Credit unions in one respect are different than banks both you can use for your banking needs. Most banks like the ones you mentioned are owned by their shareholders credit unions are owned by their members.  I would suggest joining a credit union by simply opening an account with them. If you are interested in the personal finance forum their is a list of credit unions you can join by being a member of the American Consumer Council you can become at the same time you joining the credit union online. Most of the time it is free you may have to an $8.00 membership fee. If you know of of a credit union near you  use them first. The one to one in person may be of greater benefit for you. The list of credit unions may have that is near you as well. As always do your research before making a decision.