Help! I don't know what just happened...

[Section700]

I had received pre-approval offers in the mail for Cap One Plat and Barclays Rewards MC. I spoke with my broker today and decided I would app for the Barclays Rewards MC.

It said insufficient information and they will have to get back to me in up to 10 business days. Does that mean I got denied? I've never been denied before... Should I wait and see what happens or try calling the backdoor number?

Also, should I app for the Cap One before the inq hit my CR? Like literally right now?

BTW - I just tried the Credit One "pre-qualify" "soft-puller" and this is what I got:

Inquiry Code: PQ01DDVHQF7Q

Thank you for your recent request for pre-qualification for a Credit One Bank credit card. Your request was carefully considered and we are unable to provide a credit card offer for you at this time.

Reasons for Denial of Credit
Your application was processed by a credit scoring system that assigns a numerical value to the various items of information we consider in evaluating an application. These numerical values are based upon the results of analyses of repayment histories of large numbers of customers.

The information you provided in your application did not score a sufficient number of points for approval of the application. The reasons you did not score well compared with other applicants were:

• Serious delinquency and public record or collection (Duh BK discharged 6/11)
• Delinquency reported on accounts (Not since 08-09 when accts were charged off???)
• Insufficient time since most recent account opened (17 mos since last CC and 13 mos since auto loan!)
• Ratio of loan balances to loan amounts too high ($20 balance on 700CL??)

Information about Your Credit Score
We also obtained your credit score from this consumer reporting agency (WHAT AGENCY?? ) Your credit score is a number that reflects the information in your credit report. Your credit score can change, depending on how the information in your credit report changes.

Your credit score: 705
Date: 12/03/2012 
Scores range from a low of 350 to a high of 850

Key factors that adversely affected your credit score:

• Serious delinquency and public record or collection
• Delinquency reported on accounts
• Insufficient time since most recent account opened
• Ratio of loan balances to loan amounts too high

How did I get a unsecured card no prob 1 month out of BK and now 18 months out without any baddies and 3 TL's reporting, I get denied from even **bleep** Credit One???

[Shogun]

Uhm,, I have no answer for this one!   Seriously?

[Section700]

I'm sitting here in shock. I don't know what to say/do...

Anyone have any thoughts??

[Section700]

I guess I'll call the credit analyst tmw and see if I can get more info...

[sphinx313]

This doesn't seem to make much sense. Have you pulled your CR from this website or annualcreditreport.com to see if anything has changed since the last time you worked on it? They have a laundry list of reasons for denial, but it'd be best if we can pinpoint which one to make sense of this.

[HiLine]

Have you taken a look at the credit reports from all 3 consumer reporting agencies? It's not uncommon for credit reports to contain false information. If this be the case, you can open a dispute.

[Section700]

Yea I have my CR as of 11/30. I've cleaned up so much stuff on there over the last 18 months. All of my discharged accounts now say IIB w/ 0 balance. I've had 0 late payments since 2009 (most of them started in 2008 and the accts were charged off in 09 while I was in litigation and had not yet filed BK). I haven't had an inquiry since the auto loan I was approved for 13 months ago...

There is a remaining judgment on 2 of the 3 bureaus but I had multiple judgments/collections when I was approved for the cc and auto loan right 1 month and 4 months out of BK.

[rootpooty]

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@Section700 wrote:

I had received pre-approval offers in the mail for Cap One Plat and Barclays Rewards MC. I spoke with my broker today and decided I would app for the Barclays Rewards MC.

It said insufficient information and they will have to get back to me in up to 10 business days. Does that mean I got denied? I've never been denied before... Should I wait and see what happens or try calling the backdoor number?

Also, should I app for the Cap One before the inq hit my CR? Like literally right now?

 inquiries hit your CR instantly

BTW - I just tried the Credit One "pre-qualify" "soft-puller" and this is what I got:

Inquiry Code: PQ01DDVHQF7Q

Thank you for your recent request for pre-qualification for a Credit One Bank credit card. Your request was carefully considered and we are unable to provide a credit card offer for you at this time.

Reasons for Denial of Credit
Your application was processed by a credit scoring system that assigns a numerical value to the various items of information we consider in evaluating an application. These numerical values are based upon the results of analyses of repayment histories of large numbers of customers.

The information you provided in your application did not score a sufficient number of points for approval of the application. The reasons you did not score well compared with other applicants were:

• Serious delinquency and public record or collection (Duh BK discharged 6/11) Nothing wrong with this
• Delinquency reported on accounts (Not since 08-09 when accts were charged off??? Nothing wrong with this
• Insufficient time since most recent account opened (17 mos since last CC and 13 mos since auto loan!) According to them its not enough time
• Ratio of loan balances to loan amounts too high ($20 balance on 700CL??) Check the CR they used and make sure all the accounts you included in BK are reporting accurately

Information about Your Credit Score
We also obtained your credit score from this consumer reporting agency (WHAT AGENCY?? ) Your credit score is a number that reflects the information in your credit report. Your credit score can change, depending on how the information in your credit report changes.

Your denial letter will say which CR they used
Your credit score: 705
Date: 12/03/2012 
Scores range from a low of 350 to a high of 850

Key factors that adversely affected your credit score:

• Serious delinquency and public record or collection
• Delinquency reported on accounts
• Insufficient time since most recent account opened
• Ratio of loan balances to loan amounts too high

How did I get a unsecured card no prob 1 month out of BK and now 18 months out without any baddies and 3 TL's reporting, I get denied from even **bleep** Credit One???

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Its simple.  You have first premier.  They will approve anyone.

Did you apply with credit one or Capital one?

[Section700]

I did the "pre-approval" from Credit One that someone suggested  ^ the info above is what I received from that.

So what are my options if after 18 months I can't get another unsecured card? I'm basically starting at square one with a secured card and just wasted 18 months of my life?

[rootpooty]

Right now you cant get any prime cards.  Did you burn GE in the BK?  If not I would app for a few store cards with them?  Do you have any family in the military?  Any relatives members of NFCU?  Are you a member of a local CU?  That first premier card isnt going to do much for you.  You have options, just depends on your income and who you burned in the past.

Also did you recon the barclays app?