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I have a 700+ score... Why am i still rejected by credit cards??
I applied chase student credit card, macy's card, discover's card, kohl's card...and all get rejected But i do have a credit score of 700+. What is the problem?
Asked by
zhaoc033
1 year ago
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Sounds like you are applying for too many cards. You might also have a thin credit history which will get your rejected more often. Try Capital One as they have better products for thin files. I would also wait 3-6 months before you apply.
hardeight 1 year ago
I have 10 hard inquires in the last two years. Transunion has 4, the other two have three. Is this number large fot the banks? 9 out of 10 of my hard inquires are incured before i had a secured credit card. Now, I have a secured credit card for four months. I never pay late and i hardly use more than 50% of the credit limit. Do you think i can get approved for a department card now?
zhaoc033 1 year ago
first, you do not add the inquires up from the different ones (transunion, experian, equafax) take which one has the highest # and that is you inquires. So if trans has 4 equafax has 3 and exp has 3 then you would have 4. 3-6 inquires equals a C rating on an A-F scale. Also even tho you may have improved your overall score you may still have 1 or 2 negative marks against you or you may not have any or too little good payment history. Check your report, and see which it is. If it is deliquent accts-you may just have to wait till they fall off. If you have little to no good credit history then I suggest going to Fingerhut or Wards and openng an acct and maybe even a secured credit card. Pay on these at least a year and then you should have no problems getting a un-secured card.
rogercookenc 1 year ago
my advice, wait 6 months dont apply for anything then limit yourself to 1 inq per 6 months
nbirnbaum2 1 year ago
Find out on Credit Karma how many inquiries you have. So far I've counted (4) that you mentioned not including the ones you don't know about and thats a lot (2 or less max). Also make sure you read the reasons for the denials...I'm sure you'll get a good laugh. Save your money and apply for a secured card, they don't do credit checks www.publicsavings.com is a great secured card :)
theheat71 1 year ago