Out and In

Discussion in 'Credit Talk' started by Nave, Jun 18, 2001.

  1. Nave

    Nave Well-Known Member

    Oh well, got the note from Everbank...denied...not too bad, I called and they said my credit report was ok, but needed some longer tradelines so he said to try back in a year. He said Everbank requires a minimum of 5 years on 1 and at least 5 active tradelines for over a year with positive activity to get their card.

    So when I checked the rest of the mail I got a pre-approval with no annual fees for First North American National Bank Visa (I know could they have fit a Universal in there too). Anyone heard of this card...guess I'll do some research before I send it in.

    It is all karma, just wish it hadn't run over my dogma that's all.

  2. Jim

    Jim Well-Known Member

    Hey Nave!!

    Sorry about the Everbank rejection. I sure do appreciate the info about the 5 open tradelines etc. from you.

    I thought that the terms were so desirable on this card that it would be very hard to get for anyone. But as they said try back next year. I will certainly consider applying in October when my inquiries are all aged past the 6 month point.

    Nave - A couple of questions if you don't mind...

    1. What CRA's did they pull? I say CRA's because Nextcard pulled both EX and TU when they approved me.

    2. Did Everbank contact you by telephone to verify any info or was it strictly a rejection letter in the mail?

    Thanks - Jim
  3. Nave

    Nave Well-Known Member

    Did a search for FNANB and they seem like people are favorable towards them. Still searching BBB, but I think I will go for it after hearing this board's comments as evidence of a reputable company.

    Now I just hope pre-approval means approval.

  4. Nave

    Nave Well-Known Member

    Jim, How goes? Answers:

    [1] They pulled ONLY Experian (That is why I had a shot, my Eq and TU reports still need some cleansing). When I called and had the underwriter on the phone all he saw was information from my Experian report. The paper I got in the mail did say they checked Credit Bureau Associates in Cherry Hill, NJ but it only had Experian information apparently.

    [2] I got the letter via snail mail with the rejection reasons: Length of time accounts have been established and Length of time of positive information is too short.

    Good luck applying. Hope you get it. I will try them again after I have 5 positive trades for a year.

  5. Jim

    Jim Well-Known Member

    Dave - Thanks for asking "How goes". It goes good. So good that I have decided not to discuss it all on the board - If you get my drift - LOL

    Thanks for the additional credit info on Everbank. You know what is interesting here is that the conventional wisdom is that to maximize a credit score we should have a maximum of 4 tradelines consisting of 1or 2 visa, 1 retail card and 1 installment loan. Yet here is Evercard demanding 5 tradelines.

    Thanks again
  6. VJ

    VJ Well-Known Member

    Did you happen to get a phone # for the underwriter or did you just call and get connected to credit services?

    FYI...Your minimum income must be 30k/yr.for their card.
    Card and benefits do sound interesting.

  7. Nave

    Nave Well-Known Member

    No I just called and spoke to new card services then was connected to an underwriter. He said he was one of the head underwriters and going to a manager would not help since I just didn't have the open positive tradelines for long enough.

    BTW I make around 150K salary which I told him he could verify, I have additional income (stocks etc) accounts that could be verified as well and he said that would not help.

    I will just have to build on the positive side of my credit and borowing payment histories before I can get a platinum card like this.

  8. Nave

    Nave Well-Known Member

    Well I applied for the FNANB card, I will let you all know.

  9. Erica

    Erica Well-Known Member


    Long time no see!
    Sorry about Everbank, I was so sure that you would get it. But look on the bright side, you will have it next year after those requirements are met.

    Good luck on FNANB, You should get that too!

    Hope to talk to you soon! :)
  10. Concerned

    Concerned Well-Known Member

    Re: Everbank

    I think I match all the prerequisites listed by Dave above and my experian is the only decent report I have so I gave this application a shot. I'll keep you all posted. Have you guys found any other good platinum cards that only pull experian??

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