(Closed) Declined? Seriously?

posted 8 years ago in Money
Post # 3
Hostess
18646 posts
Honey Beekeeper
  • Wedding: June 2009

It isn’t common but like any credit card he can be declined for it.  Does he have any other credit?  If so, he might want to check his credit report to make sure there isn’t something negative on there which is making it impossible for him to get another loan.

Post # 5
Member
3041 posts
Sugar bee
  • Wedding: May 2010

Sad… credit is so tricky too. 🙁

You can get your credit report free once a year & check & see what’s on it. You can ask the bank why he was declined, usually they tell you why or might even show you their report. Do they have any other credit options?

Post # 6
Hostess
18646 posts
Honey Beekeeper
  • Wedding: June 2009

Has he been applying for a lot of cards right now?  That can reflect negatively on uour credit report.  Also, there are 3 different reports so depending on the one that the lender looks at, there may be little to no information on it.  A credit card company isn’t required to report to all three agencies.

Post # 8
Hostess
18646 posts
Honey Beekeeper
  • Wedding: June 2009

I agree going to a credit union.  They are actually more likely to give new credit cards right now and there terms are better.

Post # 9
Member
3041 posts
Sugar bee
  • Wedding: May 2010

Just cause you pay things off doesn’t mean your credit is ok again, it can take months even years to clear out some things, sadly.

Things that hurt your credit (aside from being late/not paying) are:

Applying for things that require a credit check, each time it hurts your credit a little just by looking at it.

Applying for multiple things around the same time, for example, trying to get multiple cards (even if you apply for one, change your mind about it, & try for a different company). It looks fishy to them.

Also, recent account activity, like opening/closing accounts.

Having your credit cards maxed out or almost full.

Post # 11
Member
345 posts
Helper bee
  • Wedding: October 2010

to be honest a “consolidation” debt helps your credit more than applying for a ton of store credit cards like macys

you CAN take out loans to boost your credit from the bank

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