Thread: My credit card applications are getting rejected, despite 700 FICO

My applications keep getting rejected. Here is my situation:

• My credit report indicates I have a delinquent account which was 30-days past due 1-3 times. However, this account which was a loan, was paid off in full in 2008. I can't see the exact date/month that my first or last 30-day late payment was. I am wondering which do they go by, is it my first 30-day late and then 7 years from that it drops off or do they go by the last time I was late for 30-days and 7 years from that? In any case, my credit report from Experian indicates my credit score to be low 700s.
• I have a car loan out right now for roughly 38k which has been paid on time every month with no late payments.
• I have a Amazon Chase card that has a limit of under $1k but above $500. Also it currently has a high utilization rate of 90%.
• I was just granted an Amazon store credit card with a credit limit of $1900.00.
• Another negative on my Experian report indicates that I have too many hard inquiries which bring it to a total of 5 for the past two years. Unfortunately, these are spread out from the beginning of 2011 up until now. I accidentally also applied for two Hawaiian Miles cards which I thought were separate but after looking at my report, I see two hard inquiries from the same exact credit company.

In any case, I get all these credit card applications in the mail but whenever I apply for them I always get declined.

I bought a Honda dirtbike in 09 and took out a $1900 loan and when I did that, the guy at Honda said "holy ****! your credit is so good, you can buy a house man!"

Anyways, here are the things Experian lists that may be negatively affecting my credit score:

• High utilization -- will the added $1900.00 credit limit help to bring the total ratio down from 90% to whatever it would be with the addition of the $1900?
• Too many hard inquiries -- 5 total, 2 being from the same company
• I have a low credit limit -- We have a sub $1k Chase Visa that we personally requested a low credit limit at a time that we were rebuilding our finances
• 30-days late on a loan that was paid off in 2008
• No mortgages

In any case, I can't wait to hear back from you. I really would like to build my credit up again. Anything to offer, I'm all ears.

Negative reports stay on your credit report for at least 7 years. Work on your assets and check what you can give up in order to have the cash you need to pay off your debts. If you still need help on how to handle your debt or determine the best option, you can always consult a debt counselor from any of the online debt counseling agencies.