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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Hooter's Denial



casinoannie97 wrote:
Are they charging you for 8 inquiries for mtg. shopping? I thought that should only count as 1. Anyone?????? What time frame did you shop?



The 8 inquiries are going to display, even though they are counted as one for scoring purposes. (This is one of the differences between report issues vs scoring issues.)

Sometimes a CC will deny for too many recent inqs, when they were for a car loan or mortgage. When that happens, you should call up for a recon. Move to a supervisor if necessary. Someone there ought to understand that 8 inqs for one house are very different from 8 inqs for 8 different cards. :smileywink:
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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cheddar
Posts: 6,794
Registered: ‎09-29-2007
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Re: Hooter's Denial

[ Edited ]
Hooters recently changed their underwriting standards and will deny anyone who has gotten a new mortgage since 12/31/2004.  There are several threads about it.  I'll see if I can find a few.
 
Edit: Found a couple, anyway.
 
 
 


Message Edited by cheddar on 05-17-2008 05:45 PM
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App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
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beenthere
Posts: 971
Registered: ‎01-13-2008
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Re: Hooter's Denial

Anyone? Under any circumstances?
1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Established Contributor
MsKiwi
Posts: 832
Registered: ‎03-20-2008
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Re: Hooter's Denial

I got a denial when I applied online, when they sent the letter all it said is that I have to write them for the specific reasons I was denied if I want to know. Huh? I thought the purppose of them sending a denial letter is to tell you why they denied your application.
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Hooter's Denial

Some other companies are doing this, too. I think that they're trying to cut down on the number of reconsiderations they get by simply wearing out the consumers.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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cheddar
Posts: 6,794
Registered: ‎09-29-2007
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Re: Hooter's Denial



beenthere wrote:
Anyone? Under any circumstances?


Yes, that is my understanding.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Valued Member
aer7372
Posts: 41
Registered: ‎04-23-2008
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Re: Hooter's Denial

I was told the same thing to when I called for recon.  The lady told me it doesn't matter what my credit is there is nothing she could do.  I said so does that mean that I can never get a card with you.  She said things might change in a few years.  I think it's kinda crazy
Contributor
davidboca
Posts: 83
Registered: ‎11-03-2007
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Re: Hooter's Denial

If that is the case, then perhaps they should put notice of not issuing credit to recent mortgage clients on their marketing materials, place a disclaimer, or use any other reasonable method of their choice to better make the unsuspecting prospective applicant aware of this unusual underwritting descision. Wasted inquiries hurt in more ways than just points off the myFico reports. Being made a fool of, hurts much more! Especially when Hooters has enjoyed a fine reputation for issuing cards to those with less than perfect credit.
Established Contributor
beenthere
Posts: 971
Registered: ‎01-13-2008
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Re: Hooter's Denial

I can't buy it. Credit card companys are trying to make a buck. I can't see a company making blanket throw aways of say +720 fico scores 20 year historys for a mortgage that might cut into somebodys net by 30%. That makes them not only stupid but broadcast that they really are not interested in making money. There's got to be more to it, much more. 
1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Established Member
lookingfor700
Posts: 47
Registered: ‎05-13-2008
0

Re: Hooter's Denial

I just got my Mortgage a year ago. On 4/2007, so I saw that Hooters was denying people with recent mortgages. I applied with them on 5/8/2008; I was thinking no card for me. But I got home yesterday to see a nice Hooters card waiting for me. $500 CL and a $48 AF but hey I wont complain, hopefully they give good CLI. So in my case they are still giving people with new mortgages CCs.


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