Why did I not get approved?

Why did I not get approved?

Posted in the Rice Forum

mjaarylyucnosnhu ang

Los Angeles, CA

#1 Nov 7, 2013
Why did I not get approved?Hello, I am 25, almost 26 years old. I started building credit about a year ago. Got a cell phone in my name first, then later on got approved for a Capital One Credit card and a car loan in my name. Then had a credit increase with my capital one credit card to $500. It is now 7 months that I've had my credit card, and about 5 months that I've had my carloan. I recently found out that my credit score is 630. It said that I have 100% on time payments, but my loans are not old enough and I don't have enough credit lines. I also have too much debt-credit ratio, although I always make my payments on time. I've always paid the entire balance of my credit card, except for the last 2 months knowing that I am getting my bonus check next week.
Anyways I would love to buy a house in the near future and have perfect credit. I was talking to a Bank of America rep and he also told me that I need more and older credit lines to get approved for a mortgage. So I would love to open another credit card. But, I am not getting approved anywhere! I applied with Walmart and got declined. Just applied with JC Penney and they will send me the answer in the mail, which I'm sure is negative, when they say that. Everyone told me that JC Penney is easy to get approved with. So why am I getting denied?!?! Is my credit really that bad? I thought 630 was pretty decent?

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