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We'll need a lot more information to help but you've come to the right place. What are your FICO scores for Equifax, Experian, and TransUnion? Also, do you know what your score was at the time you went for preapproval?
If I am reading your story correctly....
Your score was 660
You obtained credit cards
Your score is now in the 500s
From the limited info you have given, I would say your cards are maxed and your scores have dropped as a result.
What is your individual utilization on each card and total utilization across all cards? Have you had any late payments?
Well you are certainly taking some penalties for not only individual card UTI, but total UTI as well. You are probably taking a penalty for having balances on all of your accounts as well. This along with some recent inquiries, lack of account age, and lack of an installment loan, are certainly damaging your scores. Having an installment loan would improve your scores. Ideally you want your total UTI across all cards to be 8.9% or lower, but not 0%. Having a individual UTI at 28.9% or below is ok but probably not having that on all your cards. I would recommend working on the UTI, while continue to remove anything negative from your reports which you already doing. You need time to age your accounts.
@Anonymous wrote:
So total usage of all of my cc shouldn't be over 8%?
For optimum FICO scoring, your total combined UTI should be no greater than 8.9% but not 0.
Example:
If your total accumulated credit lines were at 1000, ideally it should report a balance no greater than $89.