04-05-2010 09:45 AM - edited 04-05-2010 09:45 AM
I pulled my FICO scores this morning, TU was a 690 and I need a new laptop so I figured it should be a sure thing. I recently paid off all of my CC balances. In any case, I was denied for the following. What the hell does this mean? ALL OF MY ACCOUNTS ARE CURRENT! NOTHING IS LATE! EVERYHTING IS PAID IN FULL EXCEPT MY STUDENT LOAN AND CAR! MY CREDIT HISTORY SPANS 9 YEARS! ANY IDEAS! i AM PISSED!
Barclays Bank Delaware uses a credit scoring system to process applications. This system assigns a numerical value to the various items of information we consider when evaluating an application. These numerical values are based upon the results of analyses of repayment histories of large numbers of customers.
Based on the information you provided in your application, you did not score enough points when compared with other applicants. The primary reasons you did not score enough points are listed below:
In evaluating your application, the consumer reporting agency listed below provided us with information that in whole or in part influenced our decision. The reporting agency played no part in our decision other than providing us with credit information about you, and is unable to supply specific reasons why we have denied credit to you. Under the Fair Credit Reporting Act, you have a right to know the information provided to us. You can obtain it by contacting: TRANS UNION, P.O. Box 1000, CHESTER, PA 19022-1000, 800-888-4213
04-05-2010 09:51 AM
maybe you have a thin file? maybe they thought you didn't have ENOUGH accounts...idk, since idk what's on your reports.
04-05-2010 09:55 AM
Thats possible I guess..... I only have 4 charge accounts currently open, one student loan, and my auto loan through Lexus/Toyota. All other charge accounts I have had over the years i closed or the banks closed 3-4 years ago since I was never using them. Im not a big fan of credit cards unless its for travel or online purchases.
04-05-2010 10:12 AM
Why don't you call the 408 number and recon. They are supposed to be pretty good about reconsiderations because they look at your entire picture, not just your score.
04-05-2010 10:28 AM
Spoke with a rep and got a manual review and approved me without any issues. It would seem 2 of my student loans I consolidated are showing as 120 days past due, even though the balance is showing paid in full. This was a Wells Fargo error from long ago, when I did a consolidation and they dropped the ball and only consolidated 6 of 8 student loans. That triggered an immediate denial.
Next step, call Wells Fargo and yell. They need to show the accounts as satisfied and paid in full.
04-05-2010 10:32 AM
Good stuff, OP! Was this the Barclays card for Apple products, with the special financing?
04-05-2010 10:35 AM
This was the card.
Barclaycard Financing Visa Card
04-05-2010 08:10 PM
Congratulations, you see how you just did not say well the heck with this and just left it alone which would have been a wasted inquiry some people end up doing this, but you called for reconsideration and did it enjoy your new card and computer.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.