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nmrdnk

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Just refused barclays arrival mastercard
Hello everyone,
I was recommended to apply for a Barclays arrival Mastercard. I had a 703 Fico. I was advised that I apply in order to build my credit. I currently have two credit lines,a cap one that is 9 months old, and a kohls that is 3 months old, so I decided to apply. The following Monday, when I called to inquire I was informed that I was declined and that a reason for doing so was mailed out. My credit took a big ding(hard inquiry) now I'm at 666 (eek! nice number!) and will have to wait 45 to 60 days..or maybe even longer in order to reapply.

Thanks Karma! What now!?

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The recommendation is via computer based solely on the information in your Transunion report that this site uses.  There are too many other factors in granting a loan (credit cards are, in fact, loans) that might show up on your other credit reports that contribute to denial of the card.

Do you make it a habit to annually check all 3 credit reports for accuracy?  If not, go to freeannualreport.com and get those reports.  Go over them carefully and file a dipute on each wrong item with the credit bureau reporting same.  They have to investigate and either verify or delete the item.

Hope this helps. 

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Too much, too soon...

I believe the issue is due to the fact you are trying to 1) Apply for a lot of credit in a short period of time and 2) your credit history with cards, is in the months not years. I wouldn't apply to anything else until you have a 2year history of usage/making on time payments. Good luck.

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