Why Do I Keep Getting Denied For Credit Cards?

For just about anything you want to get off your chest about credit cards.
5 posts
legacy
 
Posts: 1
Joined: Thu Oct 31, 2013 11:38 pm
Location: WI

Why Do I Keep Getting Denied For Credit Cards?

Postby legacy » Thu Oct 31, 2013 11:43 pm

Alright so I've applied for credit cards for the last year and I've gotten approved for one so far. That one credit card provider now closed my account and I have 0 credit cards and no credit history built worth anything. No bad marks on my credit scores are 710+, however I get denied when I apply for cards.

I am having a hard time understanding how I get a credit card to build credit with seems like I'm getting no where in the credit game.

It went from having to clean up my credit, now its cleaned and looking beautiful, perfect building credit point, and now I don't get approvals because I have almost no credit.


tigerowl06
Platinum Member
Platinum Member
 
Posts: 93
Joined: Sat Jan 21, 2012 1:43 am
Location: Seattle/WA

Postby tigerowl06 » Fri Nov 01, 2013 12:15 am

Umm...we're going to need a lot more info than that. Where is that credit score of 710+ coming from? What was wrong with your credit that you would need to clean it up? What cards were you rejected for? Did they send you the credit scores they received? How were you using that card that got cancelled?
Chase Freedom ($2.5K, 10/2009)
Discover it ($6K; 03/2011)
Amex BCE ($19.5K; 02/2013 - 2011 BD)

SClay
Platinum Member
Platinum Member
 
Posts: 85
Joined: Fri Aug 16, 2013 8:01 pm
Location: South USA

Postby SClay » Fri Nov 01, 2013 4:04 am

Hey there!

Tigerrowl is right, were going to need much more information than that. Also, if a previous creditor closed your account there is obviously a reason and most of the time it's never a good one ;-). Let us know some more information and we will get back to you!
Capital One Secured AU | $1851 | 10/2013
Capital One Journey | $1000 | 03/03/2016
American Express Delta Gold | Denied | 03/13/2016
Citi Bank Double Cash | $1000 | 03/13/2016
Chase Amazon Visa | Pending | 03/13/2016

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Fri Nov 01, 2013 10:10 am

You answered your own question at the very end. You said you have almost no credit so I'm guessing the reasons they give you are you have no credit, right?

Most prime lenders will not be your first as you are probably finding out. Chase for example wants to see AT LEAST 6 months credit for a product like Freedom and by credit I mean revolving like a credit card. Other lenders have their own criteria.

So your question of how to get your foot in the door is pretty common. You may have to get a secured card to start out with. BofA offers a card for a 99 deposit 500 limit that graduates to unsecured after a year. Cap One also offers secured cards as do other lenders and a local credit union may be able to help you as well. I would suggest you look into those to get started then after 6 months of good payments and low utilization you would be able to start getting the cards you are looking for.

takeshi
Centurion Member
Centurion Member
 
Posts: 1741
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Fri Nov 01, 2013 10:44 am

legacy wrote:That one credit card provider now closed my account and I have 0 credit cards and no credit history built worth anything.

^ As stated above, that's and the creditor closing your account are your answers. Usual suggestion is secured, credit union and/or other financial institution that you have an established relationship with.

legacy wrote:No bad marks on my credit scores are 710+, however I get denied when I apply for cards.

Scores and derogs aren't the only things that creditors consider. Underwriting varies by lender. It's also likely that you're applying for cards that aren't suited to your credit profile and that you need to aim lower until you've done enough building.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests