Credit Card Approvals w/Baddies

[Anonymous]

Hello all, I've been reading through the forums, and noticed different threads with similar postings, such as people with different scores and different baddies being approved for certain credit cards. I was wondering if we can start one thread where people post their similar experiences with this to share with other MyFico forum-ers. I just find it as an interesting topic, as I'm sure everyone is looking to improve their scores, which we can't really do unless we have credit, right? (unless there is something that I'm unaware of) Mods, please feel free to delete or move if desired. -ibe

[Anonymous]

It's a good idea, truly, but there's just so much that goes into a CC app. It's not simply a case of the Texas Tea CCC issues their überprime Black Gold CC to anyone with an EX FICO score of 799 or higher.

For example, AMEX will deny one person with a FICO score in the high 600s or low 700s because of a BK or past defaulted AMEX CC, but issue an Optima CC to someone with FICOs in the high 500s or low 600s because they PIF an old defaulted balance.

There's a lot of art to this science.

[Anonymous]

I must agree with Noah. Each application and applicant is too different to judge based solely on baddies or score. I have gotten approved by just about every major cc issuer with an extremely bad loan (covered with late payments) on my CR. It was closed/PIF about a 8 months ago and the last late was a year ago. I have even gotten approvals from Discover and RBS - from my reading around 2 of the harder to get approved with.

IMO it all comes down to having a good explanation to give the CSR when they review your application if you don't get instant approval. I actually only got questioned about the lates (27 in all - 30s 60s and 90s) by BOA and even they approved me with a 5K limit.

Nothing wrong with getting a general idea about approvals, but when dealing with baddies it's always a YMMV...