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Nordstrom Experian N/A 725 N/A VA N/A 2007-07-03 too many new accounts, no mortgage history
Saw these posted on another board. Can you really be denied a cc because you don't have a mortgage? Is that legal? Sounds like discrimination to me.
A credit Grantor has the right to set whatever criteria they wish to extend credit. I believe the definitions of "discrimination" falls in the categories of age (as long as you are legally old enough to enter into a contract) , race, national origin and the fact you receive income from public assistance.
I also think when you are speaking of "unsecured credit" the rules are a little more flexible, as a "credit card" is not a right, but a privilege.
I understand the "technical" definition of discrimination,but it still seems as they are saying that homeowners are entitled to a cc but an apt dweller with the same credit score or better is not.
If my credit score,income,manual review of report,job history can pass a ccc scrutiny then it shouldn't matter if I'm a homeowner or not. IMO
I certainly agree with you 100%, that it should not be a factor. Sadly, we are all paying the price of to long a period of lax credit practices, so lenders are tightening up and I only see it getting worse for "unsecured credit".
Also, I think we will be seeing far more 'reviews" of credit, as oposed to just looking at a number, because while it may give a snapshot of a profile, it does not give a clear overall look. There are many variables to be considered, but when money is being thrown around, it does not matter, only when things tighten up.
@Anonymous wrote:
Nordstrom Transunion 608 N/A N/A NJ N/A 2006-07-16 One of the reasons for decline was because I didn't have a mortgage - wtf?Nordstrom Experian N/A 725 N/A VA N/A 2007-07-03 too many new accounts, no mortgage history
Saw these posted on another board. Can you really be denied a cc because you don't have a mortgage? Is that legal? Sounds like discrimination to me.
Don't feel bad, I have had a perfect payment history on my 17 yr old mortgage and I was refused a cc. IMO, the ccc's make up what ever rules they want if they don't want to extend a person credit. Go talk to your local credit union, and forget the "banks" and ccc's. IMO, they are far better, and easier to deal with. Good luck to you.
Hi, Johnnybear I am very shocked to read this, as I have a nordstrom card and I do not have a mortgage. I would call nordstrom's credit department just to see what was the major underlying factor of not granting a card, could it just be too many accounts opened recently sometimes the denial letters are generic and multiple things are added on so I think they can send the same letter out to people. Ask for reconsideration good luck.