Marcus loans : Time since decline too recent

[InfamousRSX]

Hi,

I keep trying to qualify for a Marcus Loan checking my loan options with a SP, but everytime I keep receiving the same decline: Time since decline too recent. The longest wait between apps was 3 months.

Anyone know when can I apply again? the time needed between apps.

Thanks.

[Revelate]

What are you trying to solve here?  Spamming a lender for a loan isn't likely the behavior the lender will want to see.

[Anonymous]

Ditto, it's likely not in your best interest to keep doing this. Instead i would look at the reason for denial and try to resolve that issue before applying with them again. 

I get wanting to see rates and terms but I doubt they will change much in such a short span. Higher score with shorter terms will generally net the lowest rates, the lower your score or the longer the term you seek it will cause the rates to in increase.

[InfamousRSX]

Thanks for the answer, I was not spamming applications. First time was declined since I had high util in some cards, then 2 months later tried again since my score were better with low util. Declined for Time since decline too recent. Then tried 3 months later trying to give it time but same answer. So I was just asking if anyone has experience with the wait time, in case is 6 months between apps or something.

But thanks anyone that answered.

[FlaDude]

There are a lot of consolidation loan lenders out there, any reason to focus on Marcus? I've done three consolidation loans and each time I shopped to see who would give me the best terms, and each time ended up with a different lender (Marcus, Prosper, Lending Club). 

[Anonymous]

When you say high, do you mean the Loan woudn't cover them all? Because I don't know why CC UT would be a thing with a consolidation loan as it would be paying said balances off. 

[InfamousRSX]

Since I live in Puerto Rico, only Marcus and Discover Loans are available, and the banks and credit unions here does not have good options.

In the first decline reasons, high utilization on cards was mentioned.

[AverageJoesCredit]

ive messed around with Marcus just to see and always got the no being im too poor lol. But even now i get emails saying come back to try again and even when i did id get too recent try. Why tell me to try again as its time then say its not time. As OP stated, all of those loan lenders that are "plentiful"  up there are just not available to those in PR. Heck, Discover loans you have to at least make 25k and you better have a good score. Good luck OP

PS OP, maybe try Penfed. I cant stand them as they never really liked my profile or low income but they usually are willing to give a consolidation loan since they make mad interest off it. They wouldnt approve me a pl but moment i applied for consolidation loan they approved it. Go figure. 

[InfamousRSX]

Thanks @AverageJoesCredit! I just tried with Penfed and received great options and rates!! So thanks for your help!!!!! omg