"Denied With Eq Fico 760"

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Written by: aries12c on 2010-11-01

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aries12c's review: Callout Comment I was flat out denied. I have a very good to execellent FICO score of 760 (equifax, which is what they pulled). I have ZERO lates with equifax.

I had to call in prior to approval. Lady who reviewed my application was being very nasty in a polite way. She kept intentionally misunderstanding what I was saying. Well, she was certainly happy to tell me that I was NOT APPROVED. I am so perplexed. I think I should have hung up when she asked for my name. I think another person would have perhaps approved me instead.

The only thing I could think of is that I have opened up a lot of new accounts in the last two years, especially the last 3 months. This is the first card I have been denied with in the last year.

I only had 2 open accounts in November 2009. Now I have 13 open accounts. Every card I have applied for, I have been approved for. Until now. Why this card.

The reason why wanted to open this card, was because I had previously establisted a very good credit history with HSBC. I wanted to reopen my past history if at all possible. I did so with barclays and amex... So why does HSBC want to flat out deny me, when so many are appoved according to this website. Could it simply be a jinxed situation and that I got a mean, mean csr that just wanted a reason to flat out deny me...


Comment 1 by joeyman
Re: Denied With Eq Fico 760 User Icon on 2010-11-02

Remarks Maybe HSBC found record of your past with them? Was it possibly something bad like a bankruptcy? Anyway, you're better off with other cards probably.
Comment 2 by thomas1
Re: Denied With Eq Fico 760 User Icon on 2010-11-02

Remarks More than likely the reason for denial is due to all the new accounts/inquiries within the last 12 months.

It wouldn't matter if your FICO was 850, those reasons are enough to get an immediate denial. Only apply for credit that you need. Let those new accounts age for 12+months, and let some of those fresh inquiries drop before going for more. At this point, your EQ score is more than likely flagged for seeking credit.

Since you took the inquiry anyway, you may want to contact HSBC/RZMC to ask about recon at 800-811-7276. No harm at this point.

Good luck!!
Comment 3 by wanderer
Re: Denied With Eq Fico 760 User Icon on 2010-11-02

Remarks Previous posters hit it! My scores are held down by too many inquiries, too short an average account life and not enough old accounts (EQ 696 TU 704 EX 709). The estimator I used told me the high FICO Score achievers have an average score of six plus years, accounts opened back to sixteen years, no inquiries in the last year, and no baddies at all on their record. Food for though. Also, too many open trade lines (you have thirteen) will flag your credit record. Thirteen is likely over the unknown magical limit. Think about re-evaluating credit needs and having so many open accounts. You need accounts in the installment loan, mortgage, bank card and department store categories. And about closing accounts, it is at best a short term effect as the account (if it is good) stays on your record for ten years. Oh... Have to watch the effects of closing on utilization. Whew... There you have it and I walked the walk!
Comment 4 by aries12c
Re: Denied With Eq Fico 760 User Icon on 2010-11-11

Remarks I am in search of anyone who received the platinum card.
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