Have you been denied or have had trouble getting new credit?

I'm curious because all of the stores still seem to be pushing the credit applications at the register.
I never apply for those because I don't like store cards.
I opened a new credit card with 0% about a month ago but we don't get anywhere near the number of offers by mail we once got.
I haven't applied for anything else so I'm just curious, is it harder to get credit now?
I know HELOCs have been lowered, we don't have one but I've heard they have.

Re: Have you been denied or have had trouble getting new credit?

I haven't had any trouble - in fact I just was able to move a big balance to one of those 0% interest cards.

Re: Have you been denied or have had trouble getting new credit?

I dont apply for the store credit cards either...

Our HELOC amount was lowered b/c apparently the cost of our home has dropped but this confused me b/c we have a ton of equity in our home

I did apply for a personal loan recently to consolidate the couple of credit cards we have left b/c I was sick of keeping track of due dates...I was denied
So instead, I used one of my credit cards that offered me a 3% interest rate for the life of the balance and transferred everything to that card...it worked out in my favor anyway b/c of the low rate.

Re: Have you been denied or have had trouble getting new credit?

Once, when they sent the application back stating that name I put did not match the SS #. Well, yeah, dumba$$...whoever entered the info entered it wrong, so rather than being:

Sarah Black SS # 123-45-6789, they wrote
Darah Black $$ 123-45-6789.

Re: Have you been denied or have had trouble getting new credit?

I noticed that too. DH and I were in Lowes the other day and a guy literally followed us waving a Lowes credit application. I told him I already had a Lowes card like 3X. But I did notice I haven't received 0% offers in the mail the last couple a weeks so atleast the banks are not pushing. Before all this I used to get 2 offers a week.

Re: Have you been denied or have had trouble getting new credit?

I haven't tried

I don't want any cards

Jake is getting tons of offers in the mail still- I am not- b/c I put a fraud alert on my Credit report

but they wont leave me alone when I am shopping about opening store cards- it's really annoying

I was at saks off 5th yesterday and the person in front of me got approved for a card- I have never seen anyone NOT get approved for a store card

Re: Have you been denied or have had trouble getting new credit?

Ugh...I don't know since neither my DH nor I have applied for any credit, but new offers come in the mail ALL the time. My DH and I were just discussing how 50% of our mail is credit offers. (25% is catalogs/mags and the remaining 25% is legitimate bills/statements.)

Re: Have you been denied or have had trouble getting new credit?

so then my underlying theory here is probably correct.
This whole "credit crisis" is being fueled by fear & the effing media making everyone crazy.

Lets ponder this, I'm in Ann Taylor Loft yesterday. They are pushing CC offers down everyone's throat, I saw a few people apply & qualify from what I could tell. Ann Taylor is closing stores, has lower sales numbers, having money problems & according to the media there is no commercial paper for Ann Taylor to borrow money short term but yet they still have a bank that has money that is funding their CC card to lend us money???
I'm not buying it.
I truly believe this whole effing thing is being blown incredibly out of proportion by the media & bad info from our crooked government because its an election year & it has started a snowball effect worldwide that can't be stopped.
It doesn't make sense, how can new credit be available to us, if the banks that are lending it allegedly have none to lend???

Re: Have you been denied or have had trouble getting new credit?

Message edited 10/11/2008 9:30:36 AM.

Re: Have you been denied or have had trouble getting new credit?

We set up a HELOC about 6 months ago in anticipation of some work we planned to do on the house. We haven't tapped into it yet but I recently stopped by the bank to talk to them and I was told that I didn't have to worry about them dropping the limit or freezing it - those reviews had been completed some time ago and they had already made changes to anything at risk. We have about 50% equity in our home, no other debt other than CC's we pay in full every month. We didn't have any problem getting a HD card which we got because it was offering interest free payment terms. I'm using any option like that open to me to spread out payments so I'm not tapping into the HELOC unless necessary.

Re: Have you been denied or have had trouble getting new credit?

We haven't really tried with the exception of dh applying for a raymour & flanigan card for a large purchase we were making that we wanted to take advantage of the 0% on. We had no problem getting approved and with a large limit. I did try also to have one of my cc companies lower my interest rate and they wouldn't - I've never had an issue with this before. I just took my business elsewhere with one of the many other offers I've gotten and transferred the balance.

We got a mortgage this summer with no real issues although our broker told us he had been seeing a lot of people getting denied. The process was more lengthy than normal supposedly as well and it did sometimes feel like the FBI was looking into our finances.

Re: Have you been denied or have had trouble getting new credit?

oops, I made a mistake and chose - my credit rating is great & I can't get credit

I haven't tried to get credit in the last month, so I have no clue. but I don't think it would be a problem. my credit score is over 800

Re: Have you been denied or have had trouble getting new credit?

Re: Have you been denied or have had trouble getting new credit?

I have not had a problem as of yet, but we shall see when we try to get a new car. I also need to get a new CC to transfer my existing CC balance when the 0% ends.....I hope I don't have a problem!!!!

Re: Have you been denied or have had trouble getting new credit?

i haven't tried to open any new cards, but one of my store cards limits was just raised. Not the same, but I guess a little similar.

Re: Have you been denied or have had trouble getting new credit?

Re: Have you been denied or have had trouble getting new credit?

We haven't really tried with the exception of dh applying for a raymour & flanigan card for a large purchase we were making that we wanted to take advantage of the 0% on. We had no problem getting approved and with a large limit. I did try also to have one of my cc companies lower my interest rate and they wouldn't - I've never had an issue with this before. I just took my business elsewhere with one of the many other offers I've gotten and transferred the balance.

We got a mortgage this summer with no real issues although our broker told us he had been seeing a lot of people getting denied. The process was more lengthy than normal supposedly as well and it did sometimes feel like the FBI was looking into our finances.

Re: Have you been denied or have had trouble getting new credit?

Posted by Chatham-Chick

Ugh...I don't know since neither my DH nor I have applied for any credit, but new offers come in the mail ALL the time. My DH and I were just discussing how 50% of our mail is credit offers. (25% is catalogs/mags and the remaining 25% is legitimate bills/statements.)

Re: Have you been denied or have had trouble getting new credit?

Re: Have you been denied or have had trouble getting new credit?

Re: Have you been denied or have had trouble getting new credit?

I haven't tried, but just this week we got a letter in the mail DOUBLING the credit limit on our CC.

Ironic considering all thats going on with it being so hard to get credit.

Re: Have you been denied or have had trouble getting new credit?

Re: Have you been denied or have had trouble getting new credit?

I just got a gap card b/c they were offering 20% off entire purchase, which I thought was good 'cause it's usually 10 or 15%...
that's pretty much the only new card I've gotten in a loooonnnnng time.
I noticed that the mail offers have reduced and I haven't gotten any 0% balance transfer offers or anything like that in a long time- but I don't have any balances so that could be it.
I noticed that the interest rate on my BoA balance transfer checks have gone waaaayy up.. instead of being a real offer they say, enjoy 11.9%.. what the hell is that?

Re: Have you been denied or have had trouble getting new credit?

Re: Have you been denied or have had trouble getting new credit?

I havent applied for a credit card in a while but I have noticed that my DH and I havent gotten any CC offers in the mail. We usually get a few to 10 a week at least!!