Do they have a recon line?
Letter states if you have questions to contact them (by mail assuming) at address listed on sheet. What is that even going to achieve? Should I write them a letter telling them what I would tell them on the reconsideration line? ScreenShot MyFICO scores and email them pictures of them telling they have the wrong score?
I put in an application through the Sephora website in an attempt to do the whole shopping cart trick but it did not work I have a HP on EQ and finally recieved the denial letter. I’m absolutely distraught my denial letter states that my FICO score is 548 (8-23-19), and this is absolutely false I check my FICO ever month with this site and I haven’t had a score that low since January. MyFICO (here/this website) shows my score to be 631 and if I go into where it shows bank card FICO that’s a Score 8 @ 611, Score 5,4,2 @ 671 -(who uses this one?) Score 9 @ 608. I dont know what in the world to do. THEY ARE WRONG completely WRONG. I had applied to them because I do already have a comentiy card through Buckle was approved in store with a low $300 limit but I have impeccable payment history with them.
They state reasons for decline as:
Delinquent or derogatory account (yeah back in 2016 I had near death stopped paying)
Delinquent or derogatory status on accounts is too recent (new 3rd party collections listed most recent of 10-2018)
Lack of real estate secured loan information (you’ve got to be kidding me, it’s a credit card not a home, they’re just coming up with reasons)
too many delinquent or derogatory accounts (9 original charge offs and and the two recent 3rd party older one being 6-2018)
I was approved for my Buckle card back in February and have religiously paid in full every month.
I have a Discover secured $1000 Started 2-19 PIF monthly
Green Dot secured $200 3-19 PIF monthly (no credit check)
Green Dot platinum secured $200 3-19 PIF monthly (no credit check)
Self Lender $500 1 year 12-18
BBVA secured $500/$450SL 2-19 PIF monthly (INQ 2-28-19 TU)
Comenity/Buckle revolving $300 3-19 PIF monthly
OpenSky/Capital Bank secured $200 3-19 PIF monthly (no credit check)
Applied Bank secured $200 3-19 PIF monthly (no credit check)
MJC since 12-19 kept active (ordered 2 payments product every 4 months) (INQ 12-31-18 EX)
Home Credit/Sprint revolving $500 4-18 PIF monthly
and I jut got on with NFCU and got their secured for $500 but not reporting yet. Same day as Sephora to make me feel better (INQ 8-23-19 TU)
American Honda Finance current/PAA $35k 12% started 3-18
American Honda Finance paid off 4-18 16% (young and stupid about interest/traded needed bigger)
Amercan Honda Finance paid off 2-16 (accident & GAP)
One Main Financial Paid off 2-17 started 2-15 1 late
Cap1 Auto paid off 1-16 (accident & GAP)
Conns paid off 8-14
Conns paid off 6-14
First Premier $700 PAA1-14 through 6-15 closed
Cap1/Best Buy $500PAA 1-13 through 6-13 closed (transfer to another company did not agree)
7 PAA student loan accounts because they issue a new loan every semester
Baddies are
Conns $2k+ no payments shows initiated 1-18 (disputed)
Sync/CarCare $400 CO 4-17 (disputed)
Sync/Amazon $1400 CO 3-17 (disputed)
Barclay $250 CO 6-17 (disputed)
Sync/Lowes CO 1-17 (disputed)
Kohls/Cap1 SL$300 reporting balance $608 CO 1-18 (disputed)
Sync/Walmart 2 Late 1-16& 2-16 Paid off 3-16
2 collections with PRA Kohls (disputed) and a Cap1 (disputed) ~$2500 card but no original company reporting.
5 Medical Bills reporting on Ex
What can I be doing better? Also Why AM I PAYING for myFICO if its giving me wrong information. I feel like i’m kind of busting my ass to improve my score and MyFICO shows its getting better which yay, but in reality, that 548 is lower than i started with MyFICO in January, and the 3 bureau report is Expensive AF every month!
Another thing is MyFICO on the little insights pull up in the app under EQ it shows 79% APAA 2 Collections Late pay 30+ and 60+ both at #7 but at the bottom where it shows Time Since Most Recent Late Payment it shows 1 month but go for bid it show me which account because the report doesn’t show me which account it is referring to either all the others TU TSMRLP 7 months and EX 1yr2 months.
I dont know how to fix this whole thing!
With all the accounts listed
@AspiringDink1991 wrote:
Do they have a recon line?
Letter states if you have questions to contact them (by mail assuming) at address listed on sheet. What is that even going to achieve? Should I write them a letter telling them what I would tell them on the reconsideration line? ScreenShot MyFICO scores and email them pictures of them telling they have the wrong score?
I put in an application through the Sephora website in an attempt to do the whole shopping cart trick but it did not work I have a HP on EQ and finally recieved the denial letter. I’m absolutely distraught my denial letter states that my FICO score is 548 (8-23-19), and this is absolutely false I check my FICO ever month with this site and I haven’t had a score that low since January. MyFICO (here/this website) shows my score to be 631 and if I go into where it shows bank card FICO that’s a Score 8 @ 611, Score 5,4,2 @ 671 -(who uses this one?) Score 9 @ 608. I dont know what in the world to do. THEY ARE WRONG completely WRONG. I had applied to them because I do already have a comentiy card through Buckle was approved in store with a low $300 limit but I have impeccable payment history with them.
They state reasons for decline as:
Delinquent or derogatory account (yeah back in 2016 I had near death stopped paying)
Delinquent or derogatory status on accounts is too recent (new 3rd party collections listed most recent of 10-2018)
Lack of real estate secured loan information (you’ve got to be kidding me, it’s a credit card not a home, they’re just coming up with reasons)
too many delinquent or derogatory accounts (9 original charge offs and and the two recent 3rd party older one being 6-2018)
I was approved for my Buckle card back in February and have religiously paid in full every month.
I have a Discover secured $1000 Started 2-19 PIF monthly
Green Dot secured $200 3-19 PIF monthly (no credit check)
Green Dot platinum secured $200 3-19 PIF monthly (no credit check)
Self Lender $500 1 year 12-18
BBVA secured $500/$450SL 2-19 PIF monthly (INQ 2-28-19 TU)
Comenity/Buckle revolving $300 3-19 PIF monthly
OpenSky/Capital Bank secured $200 3-19 PIF monthly (no credit check)
Applied Bank secured $200 3-19 PIF monthly (no credit check)
MJC since 12-19 kept active (ordered 2 payments product every 4 months) (INQ 12-31-18 EX)
Home Credit/Sprint revolving $500 4-18 PIF monthly
and I jut got on with NFCU and got their secured for $500 but not reporting yet. Same day as Sephora to make me feel better (INQ 8-23-19 TU)
American Honda Finance current/PAA $35k 12% started 3-18
American Honda Finance paid off 4-18 16% (young and stupid about interest/traded needed bigger)
Amercan Honda Finance paid off 2-16 (accident & GAP)
One Main Financial Paid off 2-17 started 2-15 1 late
Cap1 Auto paid off 1-16 (accident & GAP)
Conns paid off 8-14
Conns paid off 6-14
First Premier $700 PAA1-14 through 6-15 closed
Cap1/Best Buy $500PAA 1-13 through 6-13 closed (transfer to another company did not agree)
7 PAA student loan accounts because they issue a new loan every semester
Baddies are
Conns $2k+ no payments shows initiated 1-18 (disputed)
Sync/CarCare $400 CO 4-17 (disputed)
Sync/Amazon $1400 CO 3-17 (disputed)
Barclay $250 CO 6-17 (disputed)
Sync/Lowes CO 1-17 (disputed)
Kohls/Cap1 SL$300 reporting balance $608 CO 1-18 (disputed)
Sync/Walmart 2 Late 1-16& 2-16 Paid off 3-16
2 collections with PRA Kohls (disputed) and a Cap1 (disputed) ~$2500 card but no original company reporting.
5 Medical Bills reporting on Ex
What can I be doing better? Also Why AM I PAYING for myFICO if its giving me wrong information. I feel like i’m kind of busting my ass to improve my score and MyFICO shows its getting better which yay, but in reality, that 548 is lower than i started with MyFICO in January, and the 3 bureau report is Expensive AF every month!
Another thing is MyFICO on the little insights pull up in the app under EQ it shows 79% APAA 2 Collections Late pay 30+ and 60+ both at #7 but at the bottom where it shows Time Since Most Recent Late Payment it shows 1 month but go for bid it show me which account because the report doesn’t show me which account it is referring to either all the others TU TSMRLP 7 months and EX 1yr2 months.
I dont know how to fix this whole thing!
Check the letter and see which FICO score they used. Theres many versions. Depends which ones they used. But I will say this. Stop apping. If I counted correctly you opened 10 accounts this year. 13 in the past year. This needs to stop and let things grow. More credit doesnt mean higher scores. Seen it many times on here. This could become a disaster in the making. Be glad you werent approved. You dont need any more cards/credit. Best advice is not to apply until 2021 for anything else. All these accounts need to grow and the the inq's need to age and fall off. So your denial was a blessing in disguise. Hit the brakes and enjoy what you got. I'm not jumping on your case. But once you start to recover from one new card. You get hit again with another new account from another app. Your scores cant grow from apping over and over again. Good Luck!
I apologize for any confusion I may have caused, I’ll clarify here
Ive only opened 9 CC in 2019 in 2018 Iv’e only opened 1CC and 2 loans unless for some reason the baddies are being included which dates listed on those are dates of Charge Off.
as for new accounts as you mention “recovering from one new card” I have a guaranteed new account on my credit report every January and August guaranteed due to school loans, and will be in college for many years to come. So I feel like this is a time where worrying about not getting new accounts so that my time since most recently opened account grows longer. That’s just something that plain and simple will not happen at all as that clock is reset every 6 months.
I got so many accounts because I had 14 negative accounts and i’ts my understanding that in order to improve your % of accounts always paid on time I will have to flood my report with positive accounts.
Like adding water to oil in a fish tank. I started with nothing but oil (cant have any fish), and adding good accounts is like adding water. The more water I have the less harmul to the quality of water from the oil. It waters it down. The more water I have then I can get a fish.
As for the exact type of FICO used the letter does not list this only the Equifax was used
The letter states
”Your credit Score as of Aug 23, 2019
In the scoring system we used, scores can range from 300 to the best possible score, 850. Please be aware, there are a number of different credit scoring systems available, and each uses a different range of numbers.
Here are the most significant factors in determining your score:
Delinquent or derogatory account
Delinquent or derogatory status on accounts is too recent
Lack of real estate secured loan information
Too many delinquent or derogatory accounts.
If you feel the information shown above is in accurate, we encourage you to contact the first credit bureau listed in this letter. They will be able to provide you answers about your credit history and how to correct any inaccuracies.”
@AspiringDink1991 wrote:I apologize for any confusion I may have caused, I’ll clarify here
Ive only opened 9 CC in 2019 in 2018 Iv’e only opened 1CC and 2 loans unless for some reason the baddies are being included which dates listed on those are dates of Charge Off.
as for new accounts as you mention “recovering from one new card” I have a guaranteed new account on my credit report every January and August guaranteed due to school loans, and will be in college for many years to come. So I feel like this is a time where worrying about not getting new accounts so that my time since most recently opened account grows longer. That’s just something that plain and simple will not happen at all as that clock is reset every 6 months.
I got so many accounts because I had 14 negative accounts and i’ts my understanding that in order to improve your % of accounts always paid on time I will have to flood my report with positive accounts. This is not true. Nor is the percentage some websites say that your payment history is 90 something percent. More postives dont erase the negatives. Wish it worked that way. But it doesnt.
Like adding water to oil in a fish tank. I started with nothing but oil (cant have any fish), and adding good accounts is like adding water. The more water I have the less harmul to the quality of water from the oil. It waters it down. The more water I have then I can get a fish. Same applies above.
As for the exact type of FICO used the letter does not list this only the Equifax was used
The letter states
”Your credit Score as of Aug 23, 2019
In the scoring system we used, scores can range from 300 to the best possible score, 850. Please be aware, there are a number of different credit scoring systems available, and each uses a different range of numbers.
Here are the most significant factors in determining your score:
Delinquent or derogatory account
Delinquent or derogatory status on accounts is too recent
Lack of real estate secured loan information This is a blah blah blah comment
Too many delinquent or derogatory accounts.
If you feel the information shown above is in accurate, we encourage you to contact the first credit bureau listed in this letter. They will be able to provide you answers about your credit history and how to correct any inaccuracies.”
If you want to know which score they used. Just call and ask. Since you say you'll have auto student loans bi-yearly. This is even more of an incentive not to app as I said in the earlier post. More accounts, more hits to your youngest account (AoYA), more hits to your avreage age of accounts. (AAoA). The cycle keeps going. I feel I gave you the best advice possible. It was a sign from your denial to hold off as I stated for any more cards. I only give advise. Not lectures. Just trying to CYA so all these accounts can help grow your scores. Which they will in time. Only way to do that is enjoy what you were approved for. Use them wisely. Dont charge what you cant pay for. Let time be your best friend. Thats about it in a nut shell. The choice is yours either way. You come for help. Thats what we'll give you. Its up the the poster if they want to accept our advice or not. I wish you the best man. Play the game right and you will come out on top.
Time is the great healer. You need to give yourself more time. Amazing things will happen.
I am very impatient and if I could, I would have many more credit cards than I do now. I'd have more than you have! My scores were in the mid 500s less than a year ago, and now they're in the mid-600s. Settling some debt and negotiating for lower interest payments have stopped the negatives, but I'm still dealing with a nasty 90-day-late (which will haunt me for 7 years) and high utilization. Those will be with me for a while. But still, my score has gone up and I'm starting to get in with some great banks. TIME is what did that. I struggle to wait, but yet know that waiting is what is best.
You need to hate to waste inquiries. Every card you apply for from now on should do something for you, whether it be through some sort of discount, low interest, something. You have more than enough cards that will help establish a good payment history, yadda yadda. You don't need any more of those kinds of cards. Let them all age and focus on your baddies. Once your baddies are addressed, then you can sit back as your score goes up and wait as you start to get those sweet, sweet preapprovals for cashback and rewards cards. 
@Anonymous wrote:Well said and explained !!! Personally I take advise from people who have high 700+ scores to the 800's. They got there for a reason !!!
And these folks have old accounts over 25 yrs old and AAoA's probably over 10-15 yrs old. It isnt from fresh rebuilds. Its thick long term accounts. I'd be in the 800's if I didnt have a BK. But it doesnt mean a thing. 760's is just as good as a 800 score. Some banks dont like scores too high. It could crash at any moment. People get denied for Cap1's Savor with 750+ scores. So score isnt the answer to all fixes.