Is Blispay too good to be true????

[Anonymous]

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@score_building wrote:
Do you have a HP for the app? Possibly an unavailable report denial?

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I don't see it yet, but it was just a couple hours ago...will probably get an alert tomorrow. Oh, and my EX was 816, not 821...my bad. I did have a HP from Chase that dropped my score 5 pts (instant approval for CSP, $19k)...I suppose they saw that and ran? I had thought that was a EQ pull, I should have verified before doing it, knowing that Blispay pulls EX.

[Anonymous]

That's very unfortunate, I'm sorry to hear about that denial and I'd be very annoyed considering your fantastic score.

What I do find curious however is that you said it was almost an immediate denial.  Myself and 1 other member on here applied (one of us this week and one last week) and both of us have been in limbo waiting for an answer after providing them with the verification info after applying.  My score is in the 730's and the other member in the 790's.  At first when I didn't get immediate approval I thought it was because of my score, but then when I saw another member with a score 60 points higher saying the same thing I realized that perhaps my score isn't the problem and maybe it's something else (they are too backed up, aren't approving more apps at the time, etc). 

The fact that you got denied to me is very odd considering these circumstances.  I'm very curious to hear what your denial letter says, and I'll be sure to share any updates on my situation as well once I hear something.

[Anonymous]

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@Anonymous wrote:

That's very unfortunate, I'm sorry to hear about that denial and I'd be very annoyed considering your fantastic score.

What I do find curious however is that you said it was almost an immediate denial.  Myself and 1 other member on here applied (one of us this week and one last week) and both of us have been in limbo waiting for an answer after providing them with the verification info after applying.  My score is in the 730's and the other member in the 790's.  At first when I didn't get immediate approval I thought it was because of my score, but then when I saw another member with a score 60 points higher saying the same thing I realized that perhaps my score isn't the problem and maybe it's something else (they are too backed up, aren't approving more apps at the time, etc). 

The fact that you got denied to me is very odd considering these circumstances.  I'm very curious to hear what your denial letter says, and I'll be sure to share any updates on my situation as well once I hear something.

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So sorry for your denial. Please do share updates. You didn't by any chance have your credit report frozen, did you? 

[Anonymous]

No, I have never had my reports frozen for any reason.

[Shockedimpy]

Can you reapply for a Blispay card? I've tried, but it keeps saying my email/SSN has already been used.

[Anonymous]

I guess you'd have to call and ask.  How long ago was it that you got denied and how did your score/profile look?  Has it changed significantly since first applying?

[DantGwyrdd]

Wow, Blispay apps really seem to be all over the place. To add my data point FWIW: Apped on the 22nd, pulled EX, score was ~ 753 at the time, util ~ 24%, instantly approved for $4500.

[Anonymous]

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@DantGwyrdd wrote:
Wow, Blispay apps really seem to be all over the place. To add my data point FWIW: Apped on the 22nd, pulled EX, score was ~ 753 at the time, util ~ 24%, instantly approved for $4500.

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Agreed that they are all over the place, that's for sure.  Thanks for that data.  So the date that you apped and were approved falls into the range where others apped and were sent to purgatory; you aren't the first to get instant approval while others have been sent to the time out room.

[galahad15]

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@Anonymous wrote:

So how is it that I get denied with an 821 Experian, 1% utilization on over $80K in available credit, and six-figure income? Annoyed that I wasted a hard pull, that was totally unexpected, I haven't been declined in quite some time.

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Really sorry to hear about the denial    I'm very surprised why they were so unwilling to give you card; you have excellent and outstanding credit scores!    Ultimately their loss though, since they won't be getting your business...

[Anonymous]

Maybe his score was "too good" if there is such a thing.  I wrote about this in another Blispay thread when trying to make sense of some of these denials, approvals and sentences to purgatory.  Blispay has been scrutinized since they came about in April as having a business model that could very well be unsustainable.  Those that don't ever pay any interest but take advantage of the 6 month financing likely cost them money, not make them money.  Perhaps 820+ scores to them are so good that they don't anticipate anything other than a PIF from the customer, where guys with scores in the low-mid 700's represent only slightly more risk but are probably more likely to carry a balance.  I'm just sort of thinking out loud here in trying to come up with some sort of reason.

Of course there are plenty of people that have received denials in the low 700's though, as well as sent to the time out room so no matter how you view the situation it's going to be a head scratcher.