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Why am I never getting charged interest on my credit cards?

My credit score is 710/719/710 why do I keep getting denied credit cards?

  • I am a little curious as to why I get denied. I am 21 years old and I am trying to establish credit, and steadily build upon it. Because of this I have attempted to get a second True credit card.(explained below) To my surprise, I have been declined numerous times by Credit Card companies, even after looking online for ones that my score should have allowed me to get. I know certain factors effect your credit score but do credit card companies look at factors other than the score when deciding if you will be accepted for a card? Here is some info from my credit report. Revolving Credit Available 710 Experian 91.29% 719 Equifax 100% 710 TransUnion 91% No Public Records from any Credit Bureau I have 2 Student loans in which the interest has been deferred since 2/2011 I was late on 1 payment on a PayPal account (they have something called Smart Connect, which is like an online "credit card") I wasn't aware that a purchase I had made charged the Smart Connect "card" and not my PayPal/Bank Account which is why I was late. This "card" has been going from July '11 to Present My main Credit card which is currently through wells fargo was opened 5/1/2009. I have made all payments up to this point on time . I also have a store credit card which has been paid in full every month. Factors I know that negatively impact my score: Most of my credit accounts are < 3 years old 1 Late Payment (PayPal Smart Connect) Hard inquires (Which were a result of me applying for credit cards)

  • Answer:

    When you're declined you get told why. Remember?

Will at Yahoo! Answers Visit the source

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Deferred interest and late payments thus no credit card company will risk giving you a card. Your income cannot support your current debt load.

Ariaread

If you have been employed for less than 24 months, that might be the problem. Otherwise, everything else looks good.

Stan

It depends on what card you're applying for also, different cards have different standards. We're looking at many possible answers here.. the ones that I think are most likely is you have too few accounts, lack if history length, and total credit limit isn't enough. But if you were denied, you should be receiving something in the mail telling you why, anyways. By the way, you didn't give exactly how many cards you applied for. But you may want to stop at this point and let the inquiries fall off. While they don't drop your credit score significantly, it can fall into their ultimate decision to approve or deny. Best of luck to you!

stinger

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