I'm 23 years old and currently making 80k as a software engineer, and I've been working for 8 months. Prior to graduating I had no credit history. When I started working I applied to two mid grade cards (don't remember which ones) but was rejected, before finally being accepted by Discover It with a measly limit of 1k. Over the past 8 months I've paid every single bill on time. However, due to the low limit, I'm constantly watching the discover app, and having to make payments (sometimes even before the billing period ends) due to warnings that pop up on my account on exceeding my maximum of $500 per billing period.
After this last billing period ended, the Discover app showed me as having a FICO score of 740. Given my good credit score and payment history, I figured it would be a good time to apply for another card with a higher limit, so I applied for Chase Sapphire Preferred Card. I eat out a decent amount for work, so I figured the 2% cash back on dining would be a nice perk. However, today, I just got a rejection letter from them stating I don't have enough credit history to open account.
What am I doing wrong? I'd really like to get some more credit so I don't have to check my discover app every day and babysit my account, but it seems like every time I apply for something other than an entry level, low limit rotating categories card I get rejected. What should I be doing differently? I don't want to start applying to more mid grade cards and tanking my credit score via hard pulls if I'm just going to keep getting rejected.
Submitted February 01, 2017 at 09:49PM by confusedcreditcard http://ift.tt/2ku5Tr4
