Hi everyone. I just looked at my Equifax score, and it's artificially inflated to 708 due to disputes. I'd like to apply for the GM card for BT reasons, but they are part of Household which just DENIED me for the following reasons (last week, when my score was not inflated): -Deliquency -Average number of trades opened -Too many or too few trades opened recently I was wondering what folks think my chance is of getting a GM card if Household just denied me? Thanks!
Not good. So don't waste a precious inquiry over it. Try to PFB Household asking for a manual review.
Just a few days ago I was denied for a CL increase on my HH mastercard. I only have a $500 limit and the account has never had more than a 50% balance and has been kept in good standing. Was denied and sent e-mail and still denied. My last 4 derogs are in dispute now and with an artificially inflated score of 765 I was approved for a GM card and Corvette Card - both by household but they were instant. So, if you have over 700, my guess is you'd get instant online approval anyway but this credit game is SO hard to predict! I'm also reading that even after approved, they may change the terms or close the account when your scores drop and they review your credit. My plan is once this dispute is done, do everything I can to actually get those last 4 derogs gone before they can do that. I already have the ammunition to kill on of them if they don't delete it - I'll deal with that problem when and if it happens! Good luck if you decide to apply. Also - FYI - Target Visa is instant and they pull EQ only. I only got $500 with them when I had an artificially inflated score of about 675.
I got my GM card last year during my "artificial score inflation period" (inflated to 705). There were a couple of 90 day lates on there, and a charge-off, but only 2 open card accounts and no inquiries. Anyway, I was approved for $1,500 @ 15.49% (their highest rate). When I cleaned up my credit, I called them back for an increase, and a lower interest rate. They raised the limit, but refused to lower the rate. I've now paid the balance to $0, and wondering if I should just close it.
I'll say wait to get your results back and see if you can get some of the baddies off before applying for GM (given the denial reasons you got before)
Thanks everyone. I really need a card with a decent limit for a BT to pay off my Eddie Bauer card, which was closed by FCNB with a balance of $500, which is why I went for this rather than the Target card (already have a Marshall Fields card that works at Target). I only had one inquiry on my report, so yesterday I went ahead and took a chance on their website. No instant approval! What's interesting is that I have yet to get an "alert" from any of the bureaus about getting a hard inquiry, but my guess is it'll show up next week. All of my "baddies" are in dispute, so they don't show up. Perhaps that will work in my favor? *crossing fingers*
Remember when those negatives re-appear back on your credit report the credit card company will probably do another account review inquiry somewhere down the road. When they see the negatives a few things can happen..... They will raise your APR to the highest, which some being in the mid to high 20's. They will close your account, there will then be a notation on your CR stating account closed by credit grantor, very bad even if you never missed a payment on the account. You won't be eligible for CL increases if they do decide to keep you. It is much better to wait and apply when your credit is entirely clean.....when you dispute these things they are only temporary unless you know for a fact they are wrong and will be removed. I almost fell for the same feeling of wanting to apply when I felt things were going good, I didn't and waited...Why waste the inquiry? I'm glad I waited! I then applied when my credit report was totally clean and I knew the old stuff wouldn't re-appear....mostly due to me suing them! LOL!! I now have 3 credit cards and have almost $30,000.00 in disposable plastic credit if need be. Good Luck, it will happen..please be patient. Tac
IF you get the card I would use it right away this way if they close it later you'll have a recent tradeline on your report.
hi there can anyone recommend a good secured cards?..FCNB closed mine as they went bankrupt..so im looking for another one now.
cheshrat, They approved me for $1500 even when I don't have any negative on my credit report. They don't give you denerous credit limit and they don't like to increase credit limit. Last year, I requested limit increase wihtout hard inquiry and they only increased to $2500. Ron.
