"Another Lost Cause For Me"

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Written by: divadonot on 2008-12-10

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divadonot's review: Denied for delinquent past or present credit obligations with others and excessive obligations in relation to credit limit. I wanted this card but I can wait 6 or so months and try again after paying off some other stuff

9 Comments

Comment 1 by meya
Excuse Me! on 2008-12-10

I think we need to talk! You are out sneaking and hitting the "Luv Button" again aren't you? Well sweetheart, you are going to get denials for air to breathe if you don't leave these creditors alone for a while. In to the club you go, you are officially a credit addict. Here is the link, no excuses:

http://www.Financeglobe.com/SocialNet/clubs/creditaddicts/
Comment 2 by colonative
Meya Is Right on 2008-12-10

You have to nip these inquiries in the bud and hang tight for awhile.

The worst thing then an inquiry is an inquiry without an associated new account.
Comment 3 by thomas1
Inquiries on 2008-12-10

Stop applying for credit because the card is pretty or hip. Just like Colonative said, an inquiry without an account that justifies that inquiry hurts, and hurts alot. Looks really bad. Get your debt load paid down significantly, with no more than 30% remaining on open tradelines, wait 12 months or longer if you can, but at least 12 months, and maybe you can get some better cards.

These inquiries are really plummeting your scores big time. I know sometimes its hard to wait, but it will be well worth it later.
Comment 4 by iantha1
Use Tact on 2008-12-11

I would say lay off (as the others have stated) going after new accounts. Just take this time to clean up your credit pull your credit if you have not already done that, Also you want to see what your credit scores are and then see if you have one that is higher than the other then you can make a plan to see what credit cards pull from what agency. (after 6 months) then you can plan your attack and no what they will be looking at.
Comment 5 by charonh
Slow Down Please! on 2008-12-11

Sorry for the denial; you should check out the application status section on FG, members have provided valuable card specific information that may help in your decision of whether or not to apply; based upon the feedback that has been provided for this card, I probably would have held off until your situation had improved (inquiries and baddies fall off your report), doing so will save you a lot of time and grief.
Comment 6 by divadonot
I'm Done on 2008-12-11

Lol really you guys are right and I'm done!
Comment 7 by eldarwen
Sorry To Hear About That on 2008-12-13

Sorry to hear that you were denied. What kind of baddies do you have? Did you do them wrong in the past? If you have high utilization, you should pay that down and work on getting credit line increases. Cleaning up the baddies, letting things age. In this climate I would hold off on getting new cards.
Comment 8 by mary32977
Re: Another Lost Cause For Me on 2010-08-28

You have heard a lot of bad news which will make you feel hopeless and make you want to give up. What you need is an approval to get your spirits up, it is VERY POSSIBLE even with HORRIBLE credit. The first thing you need to do is to go to creditkarma.com and obtain a FREE no strings attached(i promise no fees, its for real, I did it) credit score provided by transunion I think. DO NOT go to these credit matching sites for bad credit. You need to obtain your credit scores and see where you stand, then take a look at credit card companies and the average score approval. You can also get a free credit report provided by government at annualcreditreport.com. I HAD THE worst credit you could have, trust me, collections, inqui, bankruptcy, etc. I was able to get a frist premier card, credit one from credit one bank credit card, first, then after a few months I got a macys and target store card. By getting these subprime credit cards, you have the chance to prove your credit worthiness, keep credit spending under thirty percent of your limit, in six months your credit score will be much much much higher. Also go to your local bank and open a secure loan for about three hundred dollars, they put money in bank savings account, take loan up against it and writ you a check the same day for three hundred, you go in with 300 come out with 300, but you have to make on time payments on loan, at end of loan you get your 300 back. This will add an installment loan to your credit which is VERY importnat, hope this helps
Comment 9 by jemannie
Re: Another Lost Cause For Me on 2010-09-02

I can second on Mary's post. I filed bankrupt in 2008 and missed a few creditors that wound up getting on my credit after being discharged. So I have the bankruptcy, 2 liens, and a few collections. I got the First Premier Centennial over a year ago and the Credit One Bank cards 8 months ago. I pay them both down to about a $20-$30 balance every month and on time. I also have a car note that I got in Dec 2009 which I pay every month. After paying off several collections and disputing tons of stuff off of my credit reports, my scores went up from around 473 to about 520 but paying my credit cards and car notes every month continues to boost my scores up almost 20 points a month. My highest score is now a 581 and I just got approved for a Capital One No Hassle Cash Rewards card 2 days ago!
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