So I got a little bit over my skis yesterday and applied for a Nordstrom Visa Signature card. I had three very recent inquiries on my report at the time of application: One three days ago from Mercedes-Benz Financial Services (car loan), another earlier that morning from Chase (Ink Plus and CSP MC), and another earlier that morning from Citibank (Dividend CLI).
I had no intention of applying for the Nordstrom card when I walked into the store, but upon check-out the sales associate mentioned the tailoring credit (I was buying suits at the Half Yearly sale anyway) and, more importantly, early access to the Anniversary Sale next month. I mentioned my concern about the recent inquiries, but the associate said I should just give it a shot anyway if I have good credit, so I took his advice and did (my mistake). I knew it was bad when the the sales associate said something to effect of "Well, can the customer at least speak to you to explain?" The person on the line in the Nordstrom credit department said no, and that it was a decline.
After the initial rejection I called the number for Nordstrom Card Services and asked for an analyst to review my application. The analyst said I was rejected for too many recent inquiries of course, and said there was nothing she could do. Sensing my astonishment, she offered to escalate my application to a senior credit analyst. After being put on hold for a few minutes she came back and said, yup, we have to decline you because of the inquiries and that the decision was "final." I asked to speak to the senior credit analyst myself; she connected us and he reiterated that because of the inquiries they had to decline my application, and that it was a bank policy. He said my score was over 800, there were no late payments, etc., but they have a strict policy to reject people with too many inquiries.
Well, that kinda messed up my day. I've been a very loyal customer to Nordstrom for many years, was applying at a time when I was making a significant purchase, etc. I was pretty upset that my first credit rejection ever came from applying for a store card.
After I got home I decided to give it one last shot. I wrote a rather lengthy five paragraph email to credit@nordstrom.com explaining my spotless credit history, the nature of my recent inquiries, the extent of my purchase history and loyalty to Nordstrom, how I told the associate about my concern over the inquiries before applying, and ended it with a thinly veiled threat that I would not be buying the suits I had on hold and would take my business elsewhere if they would not approve me for the card (yeah, I was mad).
I received a call the following morning from some guy saying he was a Vice President for the credit division and that I was approved for $5k. Yahoo! Off to the "garden" I go.
Moral of the story: Do not apply for a Nordstrom card if you have recent inquiries, even just three. They are not app-o-rama friendly. And if you get rejected over the phone, give email a shot, that way they have to read your whole explanation before making a decision.
TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)
J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
