Have good credit scores 760' and above but can get CC

[driver]

Hello

I have pretty good scores for all three reporting agencys in all cateogories but cannot get a credit card. I am a new doctorate and will be going to conferences and other contiunous learning events. These require credit cards. I did just purchase a house and car. I am not understanding why i keep getting denied credit cards. I have tried Capital One Venture X, Chase Preferred and AMEX everyday all with denials. I do have a discover IT for now but it is stressing me out. I need travel points and hotel benefits. please help! what should i inquire about and/or ask more details about to get a card. What are some cards you recommend. 

[JoeRockhead]

Aside from the Amex every day the others you listed wouldn't be considered good starter cards as they most often require the ability to be approved for a minimum starting limit of around $5k...

1. Are the scores you're talking about Fico scores or??
2. Any derogatory items on your credit reports?.
3. How many cards have you applied for in the last 3 to 6 months?
4. Current employment status and income? 

[Thomas_Thumb]

You are potentially being red flagged by ChexSystems. Some credit card issuers won't offer you a card regardless of your Fico or VantageScore if you have a low ChexSystem score. Changes in address, phone number, opening of checking/banking accounts and frequent new credit inquiries can tank this score. Perceived issues with SSN vs identity can do this as well.

There are some existing threads on the forums relating to ChexSystems you may want to search for and review.

ChexSystem score is really a fraud risk score vs a credit score. Opening of checking/banking accounts and funds transfers might be viewed as a potential money laundering operation. Converting money to hard assets such are real estate and cars might add to this concern.

Two things you can do are:

1. Get your ChexSystems report and score. Review and dispute any abnormalities.

2. Search for banks and credit unions that don't use ChexSystems for card approvals. Unfortunately their card offerings may not be geared toward travel perks/rewards.

Question - Did you receive rejection letters along with your card denials? If so, was a reason for denial mentioned?

[CreditPoor]

Sorry, this is incorrect. Credit card issuers typically do not use ChexSystems. I have had my Chex frozen for years, opened 5 to 6 checking and savings accounts all within a 2 month period and never have been declined a credit card. Prior to freezing I've had tons of inquiries on Chex and it's had zero affect. 

There is something else happening with his profile that's causing alarm.

[Thomas_Thumb]

There are documented cases of CC denials due to ChX on various my FICO forum threads. Search the testamonials on the forums here for denials on CCs due to ChexSystems. Yes, CHX is primarily used to deny CU memberships and opening of checking/savings accounts.

One way to potentially avoid ChX CC denials is to freeze ChX report. Lack of ChX data may not be critical to CC issueance. I should have mentioned that strategy.

Of course, other causes for denial are possible as well. The cause should be in a rejection letter.  In one case there was CC rejection letter listing ChX as the reason even though the poster even had a 840 credit score.

[CreditPoor]

Obviously there will always be outliers in all situations. It's possible if the application was manually underwritten, the underwriting if something appears off they may pull check systems. But almost all applications are underwritten using an algorithm and I've never seen an automated process call for and review a Chex report in the 30 seconds it takes to review the app.

[CreditPoor]

@driver  I suspect since you stated that you only have one credit card and just purchased a house and car, you probably have a really high DTI and the banks appetite for lending is little or none with those things. Can you  provide a bit more detail?

What is DTI?

Is your Discover card secured or unsecured?

What is the limit and how much balance are you carrying?

How old is the age of your credit?

[NoHardLimits]

When you purchased your house and car, did you take out loans for either one?  If so, see if those lenders have any credit card offerings since you already successfully went through their underwriting process for auto/mortgage loans.

[CorpCrMgr1]

Hopefully, @driver will state income, HP/time, derogatory info, reason for the denials, and student loan amount to allow for a complete picture.

[SouthJamaica]

---

@driver wrote:

Hello

I have pretty good scores for all three reporting agencys in all cateogories but cannot get a credit card. I am a new doctorate and will be going to conferences and other contiunous learning events. These require credit cards. I did just purchase a house and car. I am not understanding why i keep getting denied credit cards. I have tried Capital One Venture X, Chase Preferred and AMEX everyday all with denials. I do have a discover IT for now but it is stressing me out. I need travel points and hotel benefits. please help! what should i inquire about and/or ask more details about to get a card. What are some cards you recommend. 

---

Why don't you give us more information, so we can better assess the situation.

What kinds of credit you presently have, limits, balances, loan amounts, etc.

Also where are you getting the 760 scores from?