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what the heck is going on!!

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Established Member

what the heck is going on!!

here is the story

i pulled my credit score by equifax its 741 thats after i did an application for personal unsecured loan after i got denided i was like what the heck !! i go i buy my score it says good score its 741 thats my fico score

i called the bank and im like why did i get denied the r like well you have zero balances on ur credit card n we cant see ur payment history  im like yea cos i pay them in full every month so i dont pay interest and thats why they denied me so a bnker recomnded that i get a co signer he is like you should get aproved i was like cool i got a co signer i got denied again !!

so im frustrated !!!!!!!

my question why all that ??? and also would that be 2 inquiry even tho its same bank same day ?? 2 diff applications tho?


how that would mess up my chances of getting a loan !!!!!! im looking for 3k to 5k loan ?

should i applay again????? cos i need it so what to do plz some help

Smiley Sad

Message 1 of 10
Established Member

Re: what the heck is going on!!

help anyone?

Message 2 of 10
Moderator Emeritus

Re: what the heck is going on!!

The FICO score isn't everything. Aside from a score, they'll look at your payment history, your DTI, your income, employment, experience with other loans, etc. You should get a specific denial reason in the mail and I'd work off of that. I personally wouldn't accept what they said, though. There are plenty with $0 balances when we apply for a mortgage or car and no issues.


If you applied twice, that could explain the two different inquiries. You could call them and ask for a favor in getting one removed.


I've had scores in the mid-700s and also had issues obtaining an unsecured loan due to lack of experience. I got one without issue from Lending Club. It's P2P lending, but they tend to be more forgiving on there. They use the same TU FICO (TU98) as found on here.

Message 3 of 10
Established Member

Re: what the heck is going on!!

Thank you so much!!

I got pre approved by a loan bank or whatever its called
its called onemain Financial I got pre approved for 6000

but since I already did a stupid mistake and applied twice with stupid wells Fargo which they suck for acting stupid with their strict rules !! Sigh

What u think would happened if I apply for that pre qualify personal loan by this onemain financial ?? Do you think since I have 3 credit inquiry on my report would that make it look bad and I would get denied for many inquires? and which department you think would be best to call to move that 2nd inquiry

Message 4 of 10
Established Member

Re: what the heck is going on!!

and also how hard it is to apply for a small loan when you are moving and dont have a current job would that be a no way??

Message 5 of 10
Moderator Emeritus

Re: what the heck is going on!!

OneMain Financial is the lender formerly known as CitiFinancial. They'll subscribe to your credit reports and those CRAs will provide them your info (unless you opt out). Based on what they see in your report(s), they'll extend a pre-approval. If preapproved, there's a good shot of getting it (except...see the post below). Three inquiries is not that bad. Some lenders are strict, but YMMV. Also, maybe they won't pull the same report as did WF.


FYI, though, on OneMain. FICO views them, fairly or not, on par as a payday loan. OneMain is an organization that freely extends credit at high interest rates like a payday lender. As a result, FICO sees it as a consumer finance loan (CFL). There's an extra ding for having these, though the ding is relatively minor. Long after it is paid off, you'll still see the annoying red flag on your FICO report for having one of these report.


For the extra inquiry, you can always write to the address on your CR or call them. There should be a number on your loan docs or online. IIRC, WF has a list of all of the numbers out there for each department (or at least Wachovia did).

Message 6 of 10
Moderator Emeritus

Re: what the heck is going on!!

@build_it_up wrote:

and also how hard it is to apply for a small loan when you are moving and dont have a current job would that be a no way??

Very difficult. I would imagine a lender would deny if you can't show income or the ability to repay. You might be able to use something as collateral.

Message 7 of 10
Senior Contributor

Re: what the heck is going on!!

It sounds like maybe you were denied bc you aren't working rather than your score?


Is this such a dire emergency for the money that you are going to take the loan offered to you by that company with the high interest? 

Mind you , I'm not judging what you do, just asking you to ask yourself if it is worth it to you - only you can decide.


Good luck w/ what you decide!

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Message 8 of 10
Established Member

Re: what the heck is going on!!

thanks guys for making time to answer my questions


u see i also get pre approved for bank of america card with interest rate of 16 % which i think is not bad im not sure if its zero apr intro !

and most of the time no company trip and ask me for emplyoment confirmation only american express i just putted my 2 weeks notice at work because im moving its not like i wasnt workin at all i just have to leave my job


and i didnt know that one main finanical was like paday loans which i hate now i know to scratch this option

the question now is !! should i try for a loan which i think will be more difficult than CC cos as far as this goes it seems like they need more information and alot of criteras to meet with loans or maybe im wrong

and the information you provided are amazing !! its funny when you think you know alot but then after you hear information like that you be like oh wow i didnt know that !! haha

Message 9 of 10
Moderator Emeritus

Re: what the heck is going on!!

Message 10 of 10
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