Should I Re-Apply?

[Anonymous]

I was declined last year for the Schwab Invest First card. I have an inquiry from FIA (the parent company) from 04/2009. I really want this card, and think I should get approved for it now, but I'm wondering if I need to wait for the inquiry to drop off first. I was thinking maybe I should wait til April when the inquiry is a year old, but it will still be visible on my report of course. What do you guys think? Go for it this year? Or wait another year?

[DI]

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@Anonymous wrote:
I was declined last year for the Schwab Invest First card. I have an inquiry from FIA (the parent company) from 04/2009. I really want this card, and think I should get approved for it now, but I'm wondering if I need to wait for the inquiry to drop off first. I was thinking maybe I should wait til April when the inquiry is a year old, but it will still be visible on my report of course. What do you guys think? Go for it this year? Or wait another year?

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What was the reason for them declining your first application? What significant changes you've made on your credit reports?

[Anonymous]

It's a really long story, but basically they took issue with the mortgage "analysis" Transunion put on my report. When I called Transunion to complain that they had no right to put their guesstimate of my house value on my credit report they immediately deleted. I know there's no guarantee I'll be approved for this card, but I'm specifically wondering if I should wait until the inquiry is off before applying. Are they going to see the inquiry and automatically deny me?

[DI]

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@Anonymous wrote:
It's a really long story, but basically they took issue with the mortgage "analysis" Transunion put on my report. When I called Transunion to complain that they had no right to put their guesstimate of my house value on my credit report they immediately deleted. I know there's no guarantee I'll be approved for this card, but I'm specifically wondering if I should wait until the inquiry is off before applying. Are they going to see the inquiry and automatically deny me?

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Only apply if you have no more than 2 recent inquiries and zero credit card debt.   

[Anonymous]

The FIA inquiry is my only one in the past year. You don't think I'll get denied based on being denied last year?

[DI]

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@Anonymous wrote:
The FIA inquiry is my only one in the past year. You don't think I'll get denied based on being denied last year?

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Banks doesn't deny applicants because they denied them before.  I applied for an AMEX card July 09 and got denied.  I reapplied August 09 and got approved.  

[Anonymous]

Good to know, thank you!