Millionaire has 662 FICO score and gets denied credit. Anyone getting credit with a 662 FICO score?

[Anonymous]

I'm having trouble getting ANY credit.  I am expanding my business and will need to have some credit cards in my name (even though I have no use for the credit) to establish credit for office rental space and equipment rental.  I currently have a Capitol One Platinum Card.  I have little use for credit as I make $786,000 per year therefore I pay cash for cars and houses.  I have even applied for Discover Card and own over 20,000 shares of their stock (worth over a million dollars) and could not get approved for their card which I think is hilarious. I currently have a 662 FICO score.   I was advised that I should have several different credit cards and am trying to open anything but am having no luck.  Is anyone else with a 662 or lower FICO having luck opening credit cards, and if so, what card should I have any luck with?  I have not a single negative mark on my record (EVER) and my one account says PAYS AS AGREED (any balance is paid off every month).  Your help is appreciated.

[Booner72]

This goes to show that FICO doesn't use income to factor your score.  Just because you make that money doesn't have anything to do with your credit score.  Credit scoring is a science and you need to learn about it here at this forum.  Apply for Orchard Bank.  They'll give you credit. 

[Open123]

Warren Buffet's Fico is 683.

[aamex]

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@Anonymous wrote:

I'm having trouble getting ANY credit.  I am expanding my business and will need to have some credit cards in my name (even though I have no use for the credit) to establish credit for office rental space and equipment rental.  I currently have a Capitol One Platinum Card.  I have little use for credit as I make $786,000 per year therefore I pay cash for cars and houses.  I have even applied for Discover Card and own over 20,000 shares of their stock (worth over a million dollars) and could not get approved for their card which I think is hilarious. I currently have a 662 FICO score.   I was advised that I should have several different credit cards and am trying to open anything but am having no luck.  Is anyone else with a 662 or lower FICO having luck opening credit cards, and if so, what card should I have any luck with?  Your help is appreciated.

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Lol, i'm not sure what price you bought your DFS stock at but if at current market value you're unrealized loss is half a million. You must be a new business owner? Considering your current disdain for credit. I tend to find those that know little about leverage know even less about finance. But to your point, you will want to look at your full credit picture to find out why you have such a low score. Any deliquents on installments? Or the capital one card that you do have?

Capital one is a easier to get so you may want to try them again. 

[aamex]

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@Open123 wrote:

Warren Buffet's Fico is 683.

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and a stock valued at 100,00+/share

[Open123]

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@aamex wrote:

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@Open123 wrote:

Warren Buffet's Fico is 683.

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and a stock valued at 100,00+/share

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Gotta love the democratization of credit!

[fot1]

Credit one.

Orchard

Fingerhut

Kays

 All pretty easy to get..

BofA  and Wells secured cards 

or drop 10k into savings at a local credit union then get there CC

[Anonymous]

As my post stated, I have already Capitol One.  I bought $100,000 worth of DFS low in 2006.  I can assure you it is now worth over a million.

[Open123]

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@Anonymous wrote:

As my post stated, I have already Capitol One.  I bought $100,000 worth of DFS low in 2006.  I can assure you it is now worth over a million.

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Have you tried to recon with Discover?  Perhaps they're not privy to how much of their stock you personally hold.

[aamex]

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@Anonymous wrote:

As my post stated, I have already Capitol One.  I bought $100,000 worth of DFS low in 2006.  I can assure you it is now worth over a million.

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I was suggesting you get another card with them. Maybe venture one. Its honestly hard to tell you how to improve without know exactly the issue, if its lack of revolving credit then you need another card thats easy to get into (capone). and FYI - discover IPO'd in 2007.....at 25$... so... if you'd held out til this point you've broke even. You may want to double check with your Financial Advisor