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How can I improve my approval chances?

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Anonymous
Not applicable

How can I improve my approval chances?

I am pining for a total rewards visa.  I can’t tell you how much I really want this card.  I apped for it back in April but no dice.  Denied because of thin file.  I really want to give this one more shot before my Vegas honeymoon at the end of October.  I’ve given up trying to get the preapproval pop-up, but considering how much I want this card, the HP would be worth it.  Before I apply, I want to have the best odds possible for getting approval.  If I wait till next month, my AAoA will be 1.5 years with my new accounts at 4 & 3 months respectively.  If I wait till October, the age of my oldest account will reach 4 years (student loan).  Should I apply next month or wait till October?  Is there anything else that I can do to improve my chances?  

Message 1 of 7
6 REPLIES 6
Luscher
Valued Contributor

Re: How can I improve my approval chances?

What is your score. and current utilization? any negatives?
CHASE FREEDOM | AMEX BCE | | BOFA REWARDS | CITI TYP | Quicksilver | DISCOVER IT | Sallie Mae | CHASE CSP
--------$32,000-------------$30,000-----------$30,000-----------$30,000-----$13,000---------$18,200----------$15,000---------$6,500----

FICO - TU: 780 EX: 784 EQ: 781
Message 2 of 7
Anonymous
Not applicable

Re: How can I improve my approval chances?


@Luscher wrote:
What is your score. and current utilization? any negatives?

Scores are in my sig:  transunion 721 (per Discover It), Equifax 710 (myfico), Experian ? (was 713 in May).  No negatives and util was 14% last month.  

Message 3 of 7
Shock
Established Contributor

Re: How can I improve my approval chances?

Your scores look good. There's not much you cn do but let your accounts age. How many inquiries? I would also aim for under 10% utilization. Also only letting one card show a balance. Probably better to app in October, since it would be six months since your last app with them.

 photo myfico_zpsd00088cb.jpg
Message 4 of 7
creditFiend
Established Contributor

Re: How can I improve my approval chances?


@Anonymous wrote:

I am pining for a total rewards visa.  I can’t tell you how much I really want this card.  I apped for it back in April but no dice.  Denied because of thin file.  I really want to give this one more shot before my Vegas honeymoon at the end of October.  I’ve given up trying to get the preapproval pop-up, but considering how much I want this card, the HP would be worth it.  Before I apply, I want to have the best odds possible for getting approval.  If I wait till next month, my AAoA will be 1.5 years with my new accounts at 4 & 3 months respectively.  If I wait till October, the age of my oldest account will reach 4 years (student loan).  Should I apply next month or wait till October?  Is there anything else that I can do to improve my chances?  


Your EQ score looks fine.  How many inquiries did you have on EQ at time of denial?  What reasons did they give for denial?  How many new accounts do you have?

Last app: 2/21/2016
Amex PRG (NPSL)| Amex Hilton Surpass ($17.6K)| Barclays Arrival WEM ($13K)| Barclays SM ($11K)| Capital One QS ($15K)
CareCredit (15.6K)| Chase CSP ($12K)| Chase Hyatt ($5K)| Chase FU VS ($7K)| Chase Ritz ($16.7K)| Citi DC ($2.4K)
Discover It ($4K)| Lowe's ($17K)| MSUFCU ($5K)| Nasa FCU ($20K)| Navy Cash Rewards ($20K)| Navy CLOC ($15K)
PenFed Thrifty ($500)| USAA Rate Advantage ($7K)
Message 5 of 7
Shock
Established Contributor

Re: How can I improve my approval chances?

He was denied due to a thin file.

 photo myfico_zpsd00088cb.jpg
Message 6 of 7
Anonymous
Not applicable

Re: How can I improve my approval chances?

Yes, two of my accounts are new. I had no inquiries when I was denied. I currently have 3 inquiries on equifax and experian each and only one on transunion. Denial reasons were lack of revolving accounts, too short credit history and unable to verify credit information which I assume is because I had just changed my address.

I guess I'll try for it in October. In the meantime I'll bite my nails and hope for that mythical preapproval pop up Smiley Happy
Message 7 of 7
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