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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

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
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