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paulywall

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Why do i keep getting denied for credit cards
i have been recovering from bad credit. i had about 5 credit cards i stopped paying when i lost my job a while ago. ive since been working for last few years. but since its been 7 years the credit cards have fallen off my report. one company sued me which resulted in a public record which i have since paid. i had student loans which i defaulted on but have been paying for last 2-3 years on time i also have had a secured credit card ive been paying on time since 2013. my credit karma score is 700+ so realistically its probably 680~ ive applied for a few credit cards that i have "high approval odds" for and still get denied. what else can i do? i just want to build my credit up more.

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once denied...

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DO NOT apply for more credit for at least 6 months.  Repeated denials make it hard to get credit.  Those hard inquiries stay on your report for 2 years, To many inquiries with out opening new accounts is a red flag for lenders.  Makes you look desperate for credit. Wait until you have 3 or fewer hard inqujiries on all your reports, Specially since its hard to know in advance which CRA the lender will use to check your credit when opening a new account.

the Derogitory remarks from your student loans and Public Records can be hindering your chances for approval, depending on the age of the remarks.  

I agree with the others, Up your secured card balance or open a new secured card,  Let time do its work. 

Good luck

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Not to mention all of the inquiries lower your score. You may want to increase your balance but also get a second secured card.

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Err, okay...

* a judgement will hang around for a lot longer than 7 years, including its payment history

* student loans never go away (that I'm aware of) - anything negative there is going to be a *huge* hit on your credit rating.

* instead of getting other credit cards, why not just put more money into the secured card you do have, which I think would increase your credit limit on it? Call ahead and ask them beforehand, but it couldn't hurt. 

--

I'm afraid that anything else is just going to take time. 

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