Denied again :(

Jonathan.

Super Platinum Elite Member
#1
Hello fellow travel hackers.

Today I was denied for a new card the 3rd time in a row. After years of very little resistance in the game, this is a bit depressing.

Here is the list of cards my spouse and I have applied for in the month of September and been denied for;
  • Spouse and I - Capital One Savor
  • Spouse and I - US Bank Altitude Reserve
  • Spouse - Bank of America Premium Rewards Visa - Denied
  • Myself - Terps Visa Signature Rewards (Michigan Education CU)
The main reason? Too many cards opened in the last X months (typically 24 months). Their reasoning is valid, as I am 16/24 (my wife is about the same), but I've never had so much denial in a row. Anybody else experiencing this or am I just hitting a bad string of luck? I'm contemplating taking a sabatical from applying for new cards and instead focusing on maximizing multipliers. Thoughts?
 

italdesign

Level 2 Member
#2
Our denial rates have also gone up significantly. It used to be maybe 10% of all apps. Now it's like 30%. You are getting the usual suspects - BOA, USB, and CapOne. On the other hand, no denial from Chase or Amex for last 6-8 cards in 2 years (per person), and only one Barclay denial in 2 years (3 cards per year).
 
#3
Yes, denials are higher for me as well especially from the banks you mentioned. Success rate is higher if you have a long term banking relationship with them.
 
#4
Yes, denials are higher for me as well especially from the banks you mentioned. Success rate is higher if you have a long term banking relationship with them.
This is sort of why since i'm in the early-to-mid game of credit cards, i'm trying to pick up at least one card from each issuer as soon as I can. Right now i'm looking at getting the BofA cash rewards, USB cash+ and citi DC as soon as some hard pulls fall off my report in a couple of months.

I don't see many other churners using this strategy, but I noticed banks are willing to extend you lot's of credit if you've been with them for over a year and trust you more if you sign up for another card. My discover card recently increased my credit line to $4300.
 
#5
This is sort of why since i'm in the early-to-mid game of credit cards, i'm trying to pick up at least one card from each issuer as soon as I can. Right now i'm looking at getting the BofA cash rewards, USB cash+ and citi DC as soon as some hard pulls fall off my report in a couple of months.

I don't see many other churners using this strategy, but I noticed banks are willing to extend you lot's of credit if you've been with them for over a year and trust you more if you sign up for another card. My discover card recently increased my credit line to $4300.
Thats a good plan, any other type of relation like checking a/c, car loan, mortgage are very helpful as well.
 

projectx

Level 2 Member
#6
I knew Cap1 could be finicky but I thought BoA was pretty loose with approvals. No?

Anybody know what both of these banks criteria is? I waited to get under 5/24 this year, but now have 5 pulls with 4 personal and 1 biz since January. Currently sitting at 4/24. 2 new cards in July. I plan on applying for the Cap1 Savor and BoA Premium Rewards in Nov.
 

Jonathan.

Super Platinum Elite Member
#10
It kind of hurts to me to do so, but ive resorted to just putting all spend on my unlimited card for now, give my credit history a break for a few months (maybe 3 months if I can manage the self control).
 
Top