I applied for a card with Household Bank and got a letter. It said they couldn't approve me because of a limited credit history. It said nothing about negatives or inquiries, and they pulled Equifax. I'm inclined to think that Equifax might have deleted the 4-5 derogs and that would leave me with no credit history except my current Mastercard (secured) and Target card. Should I even bother pleading my case? Steph
Why not... If it's Equifax, theres no way to get the inquiry off your record anyway. Does the MC show as secured? If not, don't tell them. Worth another shot in my opinion. Call Equifax first to see if they did delete the info. Tell them you want to check the status of an investigation. They should be able to tell you if the accounts are reporting over the telephone.
Sometimes with credit issuers they only list the most improtant factors in their decision. Some companies have certain criteria which must be met first before other factors can be even used. For example Household may first verify that you have had a line of credit for more than x years and if you hadn't then they won't even proceed any further. I'm not sure if this is the case with Household but it is common among creditors. You could plead your case but first check and see if those derogs are deleted, because if you do plead your case and then they look further into your CR then they may not be able to work with you. ---> Zaphod
My advice would be to forget Household for the time being. Just celebrate if the derogs are really gone, and wait until you reach the "two accounts for two years" stage. Then you won't need Household anyway. I really don't think it will be a problem getting unsecured subprime cards, approximately as good as the Household card you wanted. They will come to you, inundating you with offers in the mail as soon as you meet their criteria. One of the characteristics of a prime bank is good customer service. In that sense, a Citibank or Amex card with a high interest rate and a low limit is still a prime card. But Household isn't a prime bank, and has never been known for good service. Good service would include reconsidering applications in a fair and professional manner. In my opinion, Household just isn't at that level of service. There are lots of other banks that could get you started with an unsecured card, probably sooner than Household would. My advice would be to get something else started as soon as possible, so the established accounts help you qualify for prime credit as soon as possible.
