Why am I being denied? What is wrong with me?

[Leadberry]

---

@Anonymous wrote:

I have has bad credit for ever but all but 1 repo ( happened 4 years ago ) is off my credit report now and 1 have one credit card I have been paying on well for 6 months and I have a student loan and another car I paid for on my credit from a long time ago. SO I have 3 good things and one bad thing. Depending on who you asking my credit score is 670 - 710 so why in the hell am I being denied for a new credit card?? I wanted a credit card with gas rewards but nooooooooooo. I am worried now because I need to buy a new car in 2 months or so and I am dont think I will be approved. I am thinking about going to companies that I made installment payments with ( but didnt report to my credit ) and ask them for a letter of recommendation will that help anything? It might sound crazy to WANT debt but I have been paying cash for everything for years and I am sick of it, I paid my dues, learned my lessons and I want access to credit.

---

I don't understand why people here are advising you to buy your credit reports.  Go to annualcreditreport.com and get your free credit report from each of the three major bureaus.  The federal government has mandated that consumers get a free credit report from each CRA every year, and annualcreditreport.com is the site used to get your reports from the big three.

You need to provide more info if you want us to help you.  To best help, we need to know every account on your credit reports, whether good or bad, how old it is and what the balance is.  Also keep in mind that different lenders have different requirements.  You have not told us whether you applied for a Citi card or an American Express card.  If you could give us the reasons the lender gave you for denial, that would also help.

Also, a letter of recommendation means absolutely nothing in the world of credit.

[jamie123]

Which credit cards have you applied for? Some credit cards are difficult or impossible to get unless you have excellent credit.

Do you shop at Walmart? It sounds to me that you would be approved for a Walmart card. Don't worry if they start you out with a small CL they are very generous with CLIs.

[Anonymous]

I already said which accounts I have a paid student loan, a paid car loan, a repo and a 300 credit card. I applied for a Walmart card and a Barclay card and denied for both. They said I didnt have enough credit, which that really makes me lol because thats why I was asking for more. I have never not paid a credit card so I wish they would give me a chance. I am open to the secured card if it will get me out of this. I already got all 3 of my free reports for the year so that is why I paid for access to a credit reporting site now, plus since I am trying to rebuild I want to look at it every month to see how it is going. 

[JoshuaHolySpirit]

Garden and grow the $300 card? Is the card you have, from Capital One?

If not, did you try Capital One for their ''credit-steps platinum cards''? Don't tell me you got denied there too.....

Capital One easily gives you more than one card depending on your profile......All the best-!!!!

[takeshi74]

---

@Anonymous wrote:

I have has bad credit for ever but all but 1 repo ( happened 4 years ago ) is off my credit report now and 1 have one credit card I have been paying on well for 6 months and I have a student loan and another car I paid for on my credit from a long time ago. SO I have 3 good things and one bad thing. Depending on who you asking my credit score is 670 - 710 so why in the hell am I being denied for a new credit card??

---

Derogs are always a major problem.  Visit the reubuilding subforum and work on getting that derog removed.  Also consider the reason(s) stated in your denial letters.

---

@Anonymous wrote:

I know my credit history is thin thats why I am trying to beef it up with another credit but no one will give me credit, catch 22.

---

It also takes time to rebuild so you're going to have to leave you impatience at the door and be prepared to be in this for the long haul.  I'd also suggest seeing if any credit unions have more lax approval requirements that might help you build up your number of revolving lines and limits.  Carefully manage your reported utilization.

---

@Anonymous wrote:

They said I didnt have enough credit, which that really makes me lol because thats why I was asking for more. I have never not paid a credit card so I wish they would give me a chance. I am open to the secured card if it will get me out of this.

---

You have to have a demonstrated history with many creditors so you need to find less conservative creditors that are willing to take the risk.  Again, credit unions can have more lax approvals.  Secured is another route already mentioned that you can take if you're not getting approval for unsecured.

Always paying credit cards helps but approvals are always based on your entire credit picture and not just a single factor.  Definitely read up on the factors that do play into credit scoring:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

[SunriseEarth]

---

@Anonymous wrote:

I have has bad credit for ever but all but 1 repo ( happened 4 years ago ) is off my credit report now and 1 have one credit card I have been paying on well for 6 months and I have a student loan and another car I paid for on my credit from a long time ago. SO I have 3 good things and one bad thing. Depending on who you asking my credit score is 670 - 710 so why in the hell am I being denied for a new credit card?? I wanted a credit card with gas rewards but nooooooooooo. I am worried now because I need to buy a new car in 2 months or so and I am dont think I will be approved. I am thinking about going to companies that I made installment payments with ( but didnt report to my credit ) and ask them for a letter of recommendation will that help anything? It might sound crazy to WANT debt but I have been paying cash for everything for years and I am sick of it, I paid my dues, learned my lessons and I want access to credit.

---

You may also want to search the forums for the "shopping cart trick" to pick up a store card.  VS is a very easy one to get that way and could be useful if you shop there or at BBW.  

[Anonymous]

Well I might have jumped the gun on being mad about being turned down for the credit card. When I applied for the Walmart card online they said they would send me a letter telling me yes or no and it was a no. So when I applied for the credit card a few days ago it said the same thing so I was like here we go again. They said they had instant approvals so I thought it was a no like last time. Well I got a email today that I was approved! I will know the limit when I get the card in the mail but I hope its higher than 300. I thought it was odd that my score is around 700 and I cant get a credit card, thats why I was mad. But now I am happy no secured card for me!

[john398]

---

@Anonymous wrote:

Well I might have jumped the gun on being mad about being turned down for the credit card. When I applied for the Walmart card online they said they would send me a letter telling me yes or no and it was a no. So when I applied for the credit card a few days ago it said the same thing so I was like here we go again. They said they had instant approvals so I thought it was a no like last time. Well I got a email today that I was approved! I will know the limit when I get the card in the mail but I hope its higher than 300. I thought it was odd that my score is around 700 and I cant get a credit card, thats why I was mad. But now I am happy no secured card for me!

---

Congratulations

[Anonymous]

Thanks! I called them and I have a 750 limit, woohoo. And the capital one card limit is going up to 500 next month. So that is a decent amount of credit to manage and will make it so much easier to keep my useage low. The 300 limit I had before was so easy to use in a month. I am alot more excited about walking into a car dealership in a couple months now.

[john398]

---

@Anonymous wrote:

Thanks! I called them and I have a 750 limit, woohoo. And the capital one card limit is going up to 500 next month. So that is a decent amount of credit to manage and will make it so much easier to keep my useage low. The 300 limit I had before was so easy to use in a month. I am alot more excited about walking into a car dealership in a couple months now.

---

Have you thought about applying for a  car loan before you go to that car dealership? Not saying now but I know capital one has car loans you can apply to before you go to the dealership