I am buying a place, so I have been shopping rates with various lenders (I think 5 total). I do know that each lender has to check my credit, and any credit inquiry will cause my score will go down, but I figured it would be minimally.
Anyhow, I%26#039;m sinking a lot of money into this house, so I figured I%26#039;d apply for a few credit cards with 0% intrest for 6 months, just in case. To make a long story short, I was approved for one credit card, but was rejected for the other. This was last week. Today, I wanted to apply for a store credit card and was also rejected!
What%26#039;s going on? I POSTIVE I have a credit score of 780. I pay my bills on time, and have zero debt. Is there some kind of freeze on my account? If so, how long do I wait before this freeze is lift.
I have a credit score of 780, yet I can%26#039;t get a store credit card?
Because you seem to be applying for too much credit at one time.
Wait three months because your score has probably taken a big hit. Because of the pending home purchase you have so many banks pulling your file on top of the credit and charge cards you are trying to obtain. Your FICO score can be hurt if you keep having people look at it to determine your credit status. When you are rejected they are required by law to tell you what credit reporting company gave them information on you. You are entitled by federal law to obtain a copy of your credit report from these companies at no charge. Just write them and state that you were denied credit based on the and request a copy of your report. When you get the copy, go through it and if it contains shady information, write the reporting company and dispute it.
I have a credit score of 780, yet I can%26#039;t get a store credit card?
Maybe they rejected it because of your annual income. Some credit cards need a minimun annual income to eligibility
I have a credit score of 780, yet I can%26#039;t get a store credit card?
Exactly what the first poster said.
If you apply for too much credit at one time, the lenders will become suspicious of you, even with a good fico score like the one you have now.
I have a credit score of 780, yet I can%26#039;t get a store credit card?
why would you want to get a store credit card that you could just use in one place plus it will not give you any rewards, with that credit score you should be able to get approved for a regular credit card that could give you rewards such as free miles and cash back and that you are able to use anywhere you go, check out www.fastcreditcardapprovals.com here you will be able to compare all major credit cards side by side on rates, fees and rewards.
I have a credit score of 780, yet I can%26#039;t get a store credit card?
Be frankly,It is gonna take a while to find the answer for your question.Try the resource here for reference.http://creditcard.online-supporthome.inf...
I have a credit score of 780, yet I can%26#039;t get a store credit card?
Most lenders will decline based on the amount of inquires. It is called debt loading. Not saying that you will at all but sometimes when people are having financial difficulties they will load themself%26#039;s with debt and eventually file bankruptcy. This is how lenders view too many inquires or too many new accounts
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