Since February 2013 I put in apps for a lot of different places - I was rejected by many and accepted by a few. But I found those rejections useful, because when the denial letters came, they had some important information that I think will come in handy for me later when reapplying.
I think some of that info will be useful for a few of you, too. It's common knowledge that different places use different scoring models and so fourth. Here's a few in case anybody wants to app with any of the following: you'll know what to expect:
GETTINGTON.COM/WEBANK:
Pulls: Equifax & TransUnion at same time
They use a "proprietary credit scoring system". This system assigns a numerial value to the various items of information we consider in evaluating an application. These numerical values are based upon the results of analyses of repayment histories of large numbers of customers.
They look closely at: inquiries in the last 6 months, tradelines you have that have been opened for more than 60 days and paid on time, too recent since last tradeline(s) opened and how much (or not enough) revolving credit you have.
Gettington.com is NOT as easy to get if you're a credit leper as some say - FingerHut (despite the prices) is probably a better place to get your foot in the door.
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DELL FINANCIAL SERVICES/WEBANK
Pulls: Experian
They generate a CUSTOM credit score based on information provided by the consumer reporting agency listed above (in this case, Experian). Their scoring model scores range from a LOW OF 200 to a HIGH OF 900.
They are sensitive to: Number of credit inquiries in last 14 days, serious delinquency on trades opened in last 12 months, number of bankcard trades opened in last 6 months.
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Sears Card (store credit card)
Pulls: Experian
They use a scoring model ranging from a LOW OF 250 and a HIGH OF 900.
They don't like to see derogatory public record or collection filed, too few accounts paid as agreed, lack of recent INTALLMENT loan information, too many inquries last 12 months.
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Bank of America Credit Card(s)
Pulls: Experian
They use FICO score. They report the range of possible scores is 300 to 850 (again, FICO).
They don't like derogatory public record or collection filed, too few accounts currently paid as agreed, lack of recent installment loan information, or too many inquries in the last 12 months. Additionally, you must have a sufficient number of credit references/sufficient established revolving credit accounts at time of application.
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Macy's Store Card
Pulls: Experian
They use a scoring system that range from a LOW OF 250 to a HIGH OF 900.
Usually easy to get, but they are inquiry sensitive - careful for # of inquiries in the LAST 12 MONTHS.
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RadioShack
Pulls: Experian
Their scoring system ranges from a LOW OF 100 TO A HIGH OF 900.
Avoid too few accounts current in last 6 months, serious delinquency, derogatory public record or collection filed, balances too high in relation to your credit lines, too many credit bureau inquiers in the last 12 months.
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Discover iT
Pulls: Equifax
They use FICO score. Scores range from a low of 300 to a high of 850.
Discover iT will give you a chance. At the time of my approval factors affecting my credit score (but still resulted in them approving me) was: serious delinquency, too few accounts currently paid as agreed, lack of recent loan information, % of balance to credit limit too high on revolving accounts, number of credit bureau inquiries.
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Barclaycard Rewards Credit Card
Pulls: TRANSUNION
They use FICO Score. Scores range from a low of 300 to a high of 850.
Avoid low number of satisfactory accounts, insufficient credit history, high debt obligation - they didn't seem to mind the number of inquries.
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NFL Extra Poins Credit Card (also Barclay)
Pulls: TRANSUNION
They use FICO SCORE. Scores range from a low of 300 to a high of 850.
Avoid excessive credit applications (they noticed!).
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Capital One Credit Card(s)
Pulls: Experian & TransUnion (but can actually pull any of the three majors - up to and including ALL THREE at the same time)
They use FICO SCORE. Score range from low of 300 to high of 850.
They don't like age of newest bankcard account(s), length of credit history, number of RECENT inquries.
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Target National Bank / Target Store Card
Pulls: Equifax
They use a scoring system that range from a LOW OF 150 to a HIGH OF 950 (I was denied with a 569 score).
They didn't like too many recent inquries but will approve even with a serious delinquencey on credit report, not enough accounts being paid as agreed, too few active accounts.
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Abercrombie Fitch/Comenity Bank:
Pulls: Equifax
They use FICO Score - but they use a score system from 1 to 999 [keep in mind that a FICO score is TECHNICALLY a 1-999 point system, but nearly all actual scores fall between 330 and 850]
I was denied here simply for the number of recent inquires on my credit report [app for this card a few weeks after Victoria's Secret shopping card trick].
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For apps that I was successful with:
Any GECRB card (JC Penney, Chevron Texaco, Amazon, Walmart, Lowe's PayPal, etc) they pull TRANSUNION - no matter where you live, they pull TU. I was approved for all my GECRB cards with a VERY thin credit file and ONE paid collection account (currently in dispute).
Once you get your foot in the door with GECRB, apps with them seem to go well. I had to CALL EACH TIME TO GET APPROVED. I was NEVER "instantly" approved online.
USAA: They pull Equifax only. I'm a full USAA member, was approved at the time with ONE two year old paid repossesion and a VERY thin credit file. That paid repo has since been deleted off my EQ report since they approved me. Was surprised to be approved for USAA. There was no "instant" approval. I got the 7-10 day message. Three days into that, I got the message from them that I was approved.
Victoria's Secret/Comenity: Got that card using the "shopping cart trick". Soft pull, $500 instant limit. The soft pull was on EQUIFAX. Now that foot is in the door with them, I'm going to wait a year before i attempt any apps with Comenity. Will NOT try any more shopping cart tricks with them for a while as I don't want any more "new" credit accounts.
FingerHut: Pulls Equifax. Easy to get but if you're credit is really damaged, you might not get instant approval with them but get enrolled in their "fresh start" program and then graduate to a line of credit with them - which will grow. Offered by WebBank/FingerHut.
REALLY EASY CARDS TO GET IF YOU'RE A CREDIT LEPER (but HIGH FEES AND EXPENSIVE TO OWN):
First Premier Bank: Pulls Equifax. Easy $300 unsecured line of credit to get if you qualify with them. Again, expensive card to own.
Applied Bank: They have a secured card, but if you want an unsecured card, go with the Applied Bank Business Visa (you really DON'T need to be or have a business to get this card). They pull Equifax. Easy $350 unsecured line of credit. KEEP IN MIND THIS CARD DOESN'T REPORT TO THE CREDIT BUREAUS. If you want this card, it will be a hidden tradeline (which has its uses). Again, expensive card to own.
Credit One Bank: Pulls Experian. Takes forever to get approved, but it's an easy minimum $300 unsecured line of credit (sometimes more, up to $1500). Again, expensive card to own.
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Anyway, hope somebody finds some of this information useful.
Good luck on your credit and credit rebuilding journies!
Starting Score: EQ 717 EX 724 TU 736
