Hello There, I feel bad that I got denied for 2 cards in a row, apply for both yesterday found out that I got denied with National City Bank they pull Transunion and my score was 730... with 3 inqs within the last six months then I found out today that I got denied for Direct Merchants Bank they pull Experian and my score was 695.... with 2 inqs within the last 6 mons...anyways 2 denieds oh well I guess is just not my month... if anyone got denied intially did they get approval after reconsideration... please let me know... Thx, Kev
Kev, did DMB tell you why they declined you???? I can't believe that! They approved my husband for a $9,900 Titanium when no one else (except Cap One) would give him the time of day! His scores were similar to yours, except he had a Ch. 7 in '98. No other negatives. L
Hello Whyspers, Direct Merchants Bank told me that I did not meet there requirements for the card... they said that I will get a letter in mail in a few days... oh well is a nice try.... Congrats to your husband on the card though! Thx, Kev
Kevin, I really believe DMB uses a profitability scoring model that is a little different from most cc's. I got denied too with a 745 FIco score. They are probably trying to focus on the non-prime market where they can make more money. I actually got denied for having "too much available credit". They wouldn't have made any money off of me because I would have bt'd any balances before the interest started.
I don't know about that wolverine. I mean it could be...but my husband's debt/credit ratio is maybe 2% or 3%. He doesn't carry much of a balance if any balance at all! L
I agree, looks like DMB is looking for a certain type of client to enahance the bottom line. Not sure why National City would decline you as well. Only thing I know about National City is that they are big in the mortgage lending business. (mostly for people with less than perfect credit) Best regards, Mirage
Hello There, Thank you all for your info... I will post the results of what both of them put down on the letter.... I guess each bank has their own scoring system.... oh well you can't win them all but Thanks for your support.... Thx, Kev
Whyspers....what did your husband do to get his score so high since then?? I also have a BK 7 from 98, and my scores dont even break 600(except Experian)... What am I doing wrong?
I don't know what he did! Wish I did...lol. Maybe it was that until the petition for bk was filed, he was never late on a payment. Maybe it was the previous 30 years perfect history or the fact that it has been perfect since. I have no idea! His TU is 697 and mine is a lousy 653 (unless you listen to Generations who says its 598) :::sigh::: L
I have to agree too with DMB's weird criteria. Hubby has a 785 FICO and only got approved for $500 limit. Tried emailing them saying that was a ridiculous limit and they said it can't be raised for 9 months. He had no derogs, one inquiry when he applied. They must be looking for someone who won't pay them back (not including whyspers hubby though .
LOL, Laurie! They wouldn't approve me at either 585 or 635. I don't think they will ever approve me...regardless of my score. L
