I am wondering if anyone has a theory to explain my experience of getting denied for cards that have lower sign up bonuses and fewer benefits, but have little trouble getting approved for more premium cards with higher sign up bonuses and better benefits. For example, I have been denied for BBVA Compass NBA card, Fidelity Amex, and BOA Cash Rewards, but have been approved for Ink Plus, Citi Prestige, Citi Premier, and Amex Ameriprise Platinum. Is it that the banks that are offering these particular 'lower tier' cards are more particular?
Why do I get denied for 'lower tier' cards?
- Thread starter Ethan
- Start date
It's all about the banks.
RightAllocations
Level 2 Member
The timing/order of your applications might have had an impact too - when the credit inquiries and new accounts posted to your reports.
First card is usually the most generous with a bank. Once the credit limit gets as small as $500 you are near or at the total limit they will offer.
Benjamin
Level 2 Member
Is the limit they will offer at that time going to be based on simply your credit score, or, I would assume, based on a much larger set of data? I have been declined for cards based on too much credit, but then approved shortly thereafter on another application for more credit from the same institution. Also, is the credit approval department commonly different than the credit extension department? I have requested a credit line increase, been denied, so then just applied for another card and approved. Interesting stuff.