Denied For Both National City&DMB

Discussion in 'Credit Talk' started by kevinw01, May 7, 2002.

  1. kevinw01

    kevinw01 Well-Known Member

    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
     
  2. whyspers

    whyspers Well-Known Member

    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.



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  3. kevinw01

    kevinw01 Well-Known Member

    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
     
  4. wolverine

    wolverine Well-Known Member

    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.
     
  5. whyspers

    whyspers Well-Known Member

    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!


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  6. Mirage

    Mirage Well-Known Member

    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
     
  7. kevinw01

    kevinw01 Well-Known Member

    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
     
  8. gmatt

    gmatt Well-Known Member

    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?
     
  9. whyspers

    whyspers Well-Known Member

    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:::



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  10. laurie33

    laurie33 Well-Known Member

    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 :).
     
  11. whyspers

    whyspers Well-Known Member

    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.


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