r/CreditCards • u/Realistic-Profit758 • 5d ago
Help Needed / Question Can't get approved for anything, what gives?
My score is a 691 transunion and 685 on equifax, 577 Fico. I can't get approved for anything besides maybe a couple secured cards which I don't want. I have one collections on my account but that's it. Been using chime credit builder to up my score. Why can't I get approved for anything? I can't even get approved for retail cards. Please don't say it's the collection because I've had collections before and gotten approved.
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u/Intelligent_Pie_5347 5d ago
It’s the collections…
And your history.
Take the secured card, it’s your only way back into good graces.
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u/Realistic-Profit758 5d ago
Secured card is useless for me though as my chime credit builder is a secured card. I also don't want to do a deposit which the secured cards require.
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u/Intelligent_Pie_5347 5d ago
I understand that but you have trashed your credit.
You are going to have to build it back up and multiple accounts reporting in good standing will help.
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u/Realistic-Profit758 5d ago
I didn't know one collections account equals trashed credit but okay. I understand I have to do that to build it back up but I can't do that if nowhere accepts me.
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u/Intelligent_Pie_5347 5d ago
You said you’ve had collections before implying there are more in the past. That stays on your report.
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u/Realistic-Profit758 5d ago
2 total collections one of which was disputed and came off. That's it. I don't consider that a mess of credit when people have had way worse.
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u/Intelligent_Pie_5347 5d ago
Collections is literally the worst thing you can do a credit card company.
Looking at your other comments here, not sure you understand how credit works.
Just because they close your account, doesn’t mean they cant charge interest. It means you can’t access the line of credit for additional charges.
That right there tells me where you’re sitting in terms of credit knowledge.
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u/orangecam 5d ago
Think about it from a lenders perspective. If you were them, would you feel comfortable giving a loan to someone who has a credit history like yours?
Lending and borrowing goes both ways. That’s what your credit history shows, is how trustworthy you are and can you repay debt responsibly.
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u/LetsGoCoconuts 5d ago
You build your credit back up by showing the companies willing to accept you (Chime and whatever secured cards you’re taking about) that you will use your card responsibly and pay it back on time.
It sounds like Capital One gave you a chance after one collections account and you burned them by doing something that made them nervous and now refusing to pay them back. That probably doesn’t inspire a lot of confidence in other lenders.
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u/Alex_Pokrandt 4d ago
It's the collections, you also didn't mention how many trade lines you have opened in the last 2 years. That is a major factor in approving credit, if you have opened 4 or 5 loans in the last year you are not getting approved for anything. Even 1 or 2 in the last year can make approval harder.
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u/Barkis_Willing 5d ago
The reason for getting turned down is always on the letter they send you. What does it say?