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Total Rewards denial reasons

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DrZoidberg
Established Contributor

Total Rewards denial reasons

I got my letter for the Total Rewards denial. I'm kinda stumped. It says on a scale of 1-999 for their internal scoring mine is 979. But they denied me for these reasons:

 

1. Too many inquiries. - I get this one.

2. Something about HELOC. I don't technically own a home or a mortgage and certainly haven't done a HELOC.

3. Too many cards with balances. I spread my balances out but PIF each month.

 

 

I didn't thin Comenity was too strict especially since I'm almost considered perfect on their interna scoring system .

Message 1 of 5
4 REPLIES 4
s_haliz
Valued Contributor

Re: Total Rewards denial reasons

Sorry to hear. Point 2 should be concern. I hope they had pulled correct report. Also make sure you have accurate CR and no discrepencies. HELOC when no home/mortgage - You should pay attention and insvestigate further. Since it is denial you should able to get free CR and take a look into that. 

TU FICO 850 | EQ FICO 850 I EX FICO 850
Message 2 of 5
Creditaddict
Legendary Contributor

Re: Total Rewards denial reasons

A few of us have seen denied for not have a mortgage loan... that's messed up if you ask me from a bank and I would make them send it back through for a 2nd manaul review... now finding someone that says that's possible or doesn't tell you to get a copy of your credit report because if you don't feel those denials are valid you would need to take it up with Equifax not them!

Message 3 of 5
youngandcreditwrthy
Senior Contributor

Re: Total Rewards denial reasons

Odd. Seems that having no mortgage would be better for your dti and therefore make you more likely to be approved not the other way around.

I'm beginning to think more and more approvals are quota driven lol
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Message 4 of 5
sccredit
Valued Contributor

Re: Total Rewards denial reasons

The mortgage part probably has to do with recoverable assets upon default, indicating home ownership.  At least thats my $.02.

Message 5 of 5
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