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Comments on: Denied… http://www.my-personal-finance-blog.com/2005/11/03/denied/ Advice, research and tips on improving your financial life Fri, 18 May 2012 04:30:36 +0000 http://wordpress.org/?v=2.3.1 By: Expanding your credit lines - Step 1 - Clean up that credit! - My Personal Finance Blog http://www.my-personal-finance-blog.com/2005/11/03/denied/#comment-30164 Expanding your credit lines - Step 1 - Clean up that credit! - My Personal Finance Blog Sun, 24 Jun 2007 14:19:19 +0000 http://www.my-personal-finance-blog.com/2005/11/03/denied/#comment-30164 [...] Inquiries Another thing to watch out for is the number of inquiries on your report that will be displayed to potential creditors (call hard inquiries). Inquiries are typically recored on your credit report for two years. Not only do these impact your credit score but having too many indicates to lenders that you may be getting deeper into debt than you can handle (even if you are or not.) If you have a lot of recent inquiries, you would be best to wait until some of them drop off your report before proceeding. I’ve got more inquiries than I’d like due to the process of setting up a new household. For whatever reason, the phone company (Verizon) and electric company (Ameren) both made hard inquiries to Transunion. I’ve also got two inquiries related to our mortgage (pre-approval and another from the mortgage company we ended up using) as well as a handful of older inquiries from last year’s attempt to apply for some cards. I will probably not wait the full two years it will take for these to drop off my report and it may have some affect on my applications but I think I am in good enough shape to do what I want. [...] […] Inquiries Another thing to watch out for is the number of inquiries on your report that will be displayed to potential creditors (call hard inquiries). Inquiries are typically recored on your credit report for two years. Not only do these impact your credit score but having too many indicates to lenders that you may be getting deeper into debt than you can handle (even if you are or not.) If you have a lot of recent inquiries, you would be best to wait until some of them drop off your report before proceeding. I’ve got more inquiries than I’d like due to the process of setting up a new household. For whatever reason, the phone company (Verizon) and electric company (Ameren) both made hard inquiries to Transunion. I’ve also got two inquiries related to our mortgage (pre-approval and another from the mortgage company we ended up using) as well as a handful of older inquiries from last year’s attempt to apply for some cards. I will probably not wait the full two years it will take for these to drop off my report and it may have some affect on my applications but I think I am in good enough shape to do what I want. […]

]]> By: WOW! Credit Cards http://www.my-personal-finance-blog.com/2005/11/03/denied/#comment-147 WOW! Credit Cards Tue, 13 Dec 2005 15:59:51 +0000 http://www.my-personal-finance-blog.com/2005/11/03/denied/#comment-147 I definitely understand your frusteration; especially since you have a good credit score! But you may want to consider the time of year you applied for these credit cards. I noticed your post began on November 3. If you applied for these credit cards in late Septemeber, you may have hit a HIGH VOLUME period. Since many people try to apply for new credit cards prior to the Holidays, credit card companies often lower their approval rates to limit the number of new accounts. During the summertime, approval guidelines seem to loosen. So you may want to try again then. But it sounds like you're on the right track either way... so keep it up! Jeremy <a href="http://www.wowcreditcards.com" rel="nofollow">WOW! Credit Cards</a> I definitely understand your frusteration; especially since you have a good credit score!

But you may want to consider the time of year you applied for these credit cards. I noticed your post began on November 3. If you applied for these credit cards in late Septemeber, you may have hit a HIGH VOLUME period. Since many people try to apply for new credit cards prior to the Holidays, credit card companies often lower their approval rates to limit the number of new accounts.

During the summertime, approval guidelines seem to loosen. So you may want to try again then.

But it sounds like you’re on the right track either way… so keep it up!

Jeremy
WOW! Credit Cards

]]> By: Amanda Frayer http://www.my-personal-finance-blog.com/2005/11/03/denied/#comment-142 Amanda Frayer Tue, 06 Dec 2005 18:33:08 +0000 http://www.my-personal-finance-blog.com/2005/11/03/denied/#comment-142 Hi there! Here's a link to a funny animation just out today! It's about ways the credit card companies suck our wallets dry--with something we can do about it. Everyone should see this one before whipping out the plastic for holiday shopping! Click on the link below to see the animation: www.CreditCardReform.org After you watch it, you can take action to stop abusive credit card practices and empower consumers to manage their finances and reduce debt burdens. Please show your support for S. 499 (the "Credit Card Accountability, Responsibility, and Disclosure Act") and H.R. 3492 (the "Consumer Credit Card Protection Act"). While the nation's spending is at its holiday peak, I hope you will help us get the word out about www.creditcardreform.org and help us build the support these bills need to move in 2006. Hi there!
Here’s a link to a funny animation just out today! It’s about ways the credit card companies suck our wallets dry–with something we can do about it. Everyone should see this one before whipping out the plastic for holiday shopping!

Click on the link below to see the animation:
www.CreditCardReform.org

After you watch it, you can take action to stop abusive credit card practices and empower consumers to manage their finances and reduce debt burdens. Please show your support for S. 499 (the “Credit Card Accountability, Responsibility, and Disclosure Act”) and H.R. 3492 (the “Consumer Credit Card Protection Act”). While the nation’s spending is at its holiday peak, I hope you will help us get the word out about www.creditcardreform.org and help us build the support these bills need to move in 2006.

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