Just got declined with an 800 credit score

[GlassJoe]

I thought that I would do a pre qual with GS Marcus for a personal loan for kicks. I have a GM Mastercard and GM business MC with them that I just got within the last 2 months. CLs are $13k and $5.5K, with $0 balances respectively. I wouldn't have accepted it even if I got approved. Interesting to know that these decisions are based on more than just credit score.

https://imgur.com/a/lhGPOav

Thank you for your recent application. Your request for a loan was carefully considered, and we regret that we are unable to approve your application at this time, for the following reason(s):

• Too many inquiries in the last six months
• Recent number of payments too low
• High number of trades recently opened relative to total number of trades

Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency(ies) listed below. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency(ies). The reporting agency(ies) played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report(s) you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency(ies).

TransUnion LLC
P.O. Box 1000
Chester, PA 19016
1-800-888-4213

SageStream, LLC
Address: PO Box 503793
San Diego, CA 92150-3793
1-(888)-395-0277

We also obtained your credit score from the consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes.

Your Credit Score: 800
Date: 2022-05-07

Scores range from a low of 300 to a high of 850.

[babygirl1256]

GlassJoe . . . Welcome to myFICO Forum . . . Yep, I understand and the same thing has happened to me and I thought it was my Equifax score that is less than 800 holding me back . . . but it wasn't as they look at other factors in consideration and my salary is $150k per year and that didn't matter . . . so I just accepted it as their choice and decision. Best wishes!!! 

[pizzadude]

It goes to show that a credit score is only part of the input used for underwriting.  I believe that scores are typically more of a disqualifying factor, they'll result in a decline if lower than the creditor's standards but otherwise require additional positive factors for approval.  

[FireMedic1]

This ^^^^

I remember when Cap1's Savor was upgraded with more perks and the annual fee was added. Many went for it. People with big time scores were being denied when lower scores were being approved. I'm sure I was looked at on how did the BK guy get it. And me with no BK cant. Didnt make sense. Just like so many other creditors that do the same thing in your case. Just another scatch my head moment.

¯\_(ツ)_/¯

[xenon3030]

Sometimes, it is hard to interpret the business decisions of some creditors. You may try a recon call to see what happens. In the recon call of one of my denied applications, the rep was saying that sometimes one inquiry can be considered also as too many inquiries (n>=1)

[NRB525]

If you only recently got the two GM cards, that contributes to "lots" of recent INQ.

If the balances are zero, that implies light usage of the cards, and "not enough payment history with GS" for them to feel comfortable extending more credit.