Too many accounts opened in the last 30 days?

[BetterTomorrow]

I'm looking for a personal loan to consolidate my debt and I stupidly used nerdwallet to get quotes. I wasn't planning on using Best Egg anyway but I got a response from them saying...

"You recently checked to see what personal loan rates you qualified for through NerdWallet.  As part of that process, Best Egg®, a partner of NerdWallet, checked to see if you might qualify for a Best Egg loan. We regret that we are unable to extend an offer at this time, for the following reason(s):

Too many accounts opened in the last 30 days

As a reminder, checking your rate had no impact on your credit score. The consumer reporting agency contacted that provided information that influenced our decision in whole or in part was:

Experian

701 Experian Parkway

Allen, TX 75013

1-888-397-3742

http://www.experian.com/reportaccess/

The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. 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 you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. Any questions regarding such information should be directed to the credit reporting agency.

We 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 Experian credit score: 723"

I only opened one credit card (Chase Preferred) in the last 30 days, heck I've only opened this one account in past 2 years. What is this nonsense all about?

[ldkcivilservant]

Maybe they don't lend to people with any new accounts in xx timeframe?

Their money, tme gets to set the rules.

[Anonymous]

I'd wager that most people typically apply for a consoldation loan prior to apping a CC. The Bank might see it as odd, that a person apped for a CC withing the last 30 days but now wants a loan.

Also, most normal people do not app for mutliple credit products in one month. And some Banks do have certain criteria about it.

[BetterTomorrow]

I guess not many that apply for consolidation loans apply for credit cards before applying for the loan to get better APR. Lightstream sounds like they offer the lowest rate, I guess I'll just wait a month or two so that they won't reply with the same response.

[WTL1]

I've had a great experience with Lending Club. For CC debt consolidation the rates offered are lowest when you accept direct payment to the creditors rather than a single payment to yourself. I took out a loan that was a third more than I needed for consolidation, they will allow about that much to be paid direct to you above the creditor payments you list. I used this excess to immediately pay down the loan by a third for utilization reasons.
I borrowed $24,000 @ 6.57 APR for 36 months

[BetterTomorrow]

What was your credit score? Would I be able to get that rate with 723? I would need about $22,000 loan for 36 months.

[WTL1]

They pulled TransUnion, my TU was 722 at the time.