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Macy's denial

Frequent Contributor

Macy's denial

This was about a year ago, my scores were:

EX 651/EQ 620/TU 655

I had a Fingerhut 750.00 CL (don't judge, they report well!)

BofA secured (99/500)

 

I was denied online, called the number given and the rep told me I was declined for not having a mortgage or car payment

I was 36, car under my bfs name, and renting

Has anyone else heard this denial reason before?

Start: Nov'12 EQ 699/EX 685/TU 696 / Current: April''14 EQ 715/EX 709/TU 709 * Goal 750+


Message 1 of 9
8 REPLIES
Valued Contributor

Re: Macy's denial


QAMngrGirl wrote:

This was about a year ago, my scores were:

EX 651/EQ 620/TU 655

I had a Fingerhut 750.00 CL (don't judge, they report well!)

BofA secured (99/500)

 

I was denied online, called the number given and the rep told me I was declined for not having a mortgage or car payment

I was 36, car under my bfs name, and renting

Has anyone else heard this denial reason before?


bull id call back and recon. 

the only thing i had on my report when i apped was a best buy store card. 

and i just added a car installment loan in aug of this year (about a year and a half after i got the card)

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Message 2 of 9
Valued Contributor

Re: Macy's denial

I have never heard of someone being denied a card solely due to lack of an installment loan or mortgage. That's crazy.


Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 832 EX 783 TU 816
App free since 9/15/15
Message 3 of 9
Frequent Contributor

Re: Macy's denial

I had never heard of  it either, only that types of credit lines should be mixed = albeit not crucial it's helpful... but should not warrant a flat out denial Smiley Sad

Start: Nov'12 EQ 699/EX 685/TU 696 / Current: April''14 EQ 715/EX 709/TU 709 * Goal 750+


Message 4 of 9
Senior Contributor

Re: Macy's denial

They lied to you! my sister who is 18 got her macys card on 04-01-12 with a $300 CL and with nothing reporting except a joint acct she has had since 02-09-12. Something is not right you should contact them and make them tell you the real reason why they denied your first application. Smiley Mad

Banking with CBofTV, BofH, and BBVA. All three are free checking accounts.
First Premier CC $500
Chapter 7 BK Discharged on 7/11/16
Equifax, Experian, Transunion, and ChexSystem are FROZEN.
Gardening Since 10/25/2017
Message 5 of 9
Frequent Contributor

Re: Macy's denial

when i got my macy's card in 2008, the only TLs i had were 1 cc (BofA, opened only a few months prior, PIF monthly) and a CU overdraft LOC ($0 balance, established in 1990),  i applied in-store while making a purchase.

 

no mortgage, no installment loans, and no auto loan/s (open or closed) on any of my CRs at the time.


BofA visa $9.4k ... BofA Cash Rewards visa sig $10k ... Cap 1 Venture1 visa sig $10k ...
Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787
Message 6 of 9
Valued Contributor

Re: Macy's denial


QAMngrGirl wrote:

I was denied online, called the number given and the rep told me I was declined for not having a mortgage or car payment

I was 36, car under my bfs name, and renting

Has anyone else heard this denial reason before?


Yes, lack of mortgage or auto loan can be a reason for denial. This reason alone is not enough to get you denied. But when combined with other reasons, it became a compelling argument to have you denied.

 

Your letter will cite multiple reasons for denial.

 

Message 7 of 9
Frequent Contributor

Re: Macy's denial

I've never had a mortgage or car payment. However, I do have student loans and that probably got me my approval when I first app'd for Macy's over four years ago.


myFICO Starting Scores: TU 643 03.10.09 EX 676 01.09.09 EQ 638 05.24.09
Current Score: (WalMart FICO) TU 792 04.03.13 (Mortgage Lender - HP) EX 745 02.06.13 (Mortgage Lender - HP) EQ 771 02.06.13
Goal Score: 800+


Take the FICO Fitness Challenge
Message 8 of 9
Highlighted
Established Contributor

Re: Macy's denial

lol i'm buying a house in cash, and bought my car with cash looks like I can't get a Macy's credit card =(


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 9 of 9