topic Re: Amazon Store card - Denied? in Credit Card Applications

Amazon Store card - Denied?

Shann0n_marie — Mon, 25 May 2015 00:18:01 GMT

I've been helping my boyfriend with establishing credit - all he had was an old JcPenney store card, and student loans which are in deferrment as he just got out of school and he owes about $45k. I've opened him a QS1 (reporting) and a Cap1 Platinum card last month.

His current scores are 616 EQ, 644 TU & 658 EX. 10-15 yr AAOA. Only baddies are a collection ton from earlier this year & one from 2011. And child support lates but the account has been paid and closed.

In any case, I applied for the Amazon Store card for him & we got notification of the reason for denial yesterday and it said "INSUFFICIENT INCOME IN RELATION TO DEBT OBLIGATIONS"

My question is, how are they looking at the student loans that are in deferrment? They are obviously including them into the debt ratio and must auto calc estimated pmt?

Any advice would be appreciated!

Re: Amazon Store card - Denied?

ecxpa — Mon, 25 May 2015 01:39:37 GMT

@Shann0n_marie wrote:
I've been helping my boyfriend with establishing credit - all he had was an old JcPenney store card, and student loans which are in deferrment as he just got out of school and he owes about $45k. I've opened him a QS1 (reporting) and a Cap1 Platinum card last month.

His current scores are 616 EQ, 644 TU & 658 EX. 10-15 yr AAOA. Only baddies are a collection ton from earlier this year & one from 2011. And child support lates but the account has been paid and closed.

In any case, I applied for the Amazon Store card for him & we got notification of the reason for denial yesterday and it said "INSUFFICIENT INCOME IN RELATION TO DEBT OBLIGATIONS"

My question is, how are they looking at the student loans that are in deferrment? They are obviously including them into the debt ratio and must auto calc estimated pmt?

Any advice would be appreciated!

evidently the student loan is listed on the CR.......does he have a job yet......are the collections paid......did the child support obligation end or did he just catch up the payments. You can sorta figure it up yourself.......after paying all of his bills does he have enough left to take on new debt. If he has sufficient income you may want to try a recon and explain that the student loan payment is being deferred. Not sure, but I don't think Synchrony does a lot of recons......others know more about their position on this though and hopefully they will chime in.

Re: Amazon Store card - Denied?

Shann0n_marie — Mon, 25 May 2015 02:09:23 GMT

@ecxpa wrote:
@Shann0n_marie wrote:
I've been helping my boyfriend with establishing credit - all he had was an old JcPenney store card, and student loans which are in deferrment as he just got out of school and he owes about $45k. I've opened him a QS1 (reporting) and a Cap1 Platinum card last month.

His current scores are 616 EQ, 644 TU & 658 EX. 10-15 yr AAOA. Only baddies are a collection ton from earlier this year & one from 2011. And child support lates but the account has been paid and closed.

In any case, I applied for the Amazon Store card for him & we got notification of the reason for denial yesterday and it said "INSUFFICIENT INCOME IN RELATION TO DEBT OBLIGATIONS"

My question is, how are they looking at the student loans that are in deferrment? They are obviously including them into the debt ratio and must auto calc estimated pmt?

Any advice would be appreciated!
evidently the student loan is listed on the CR.......does he have a job yet......are the collections paid......did the child support obligation end or did he just catch up the payments. You can sorta figure it up yourself.......after paying all of his bills does he have enough left to take on new debt. If he has sufficient income you may want to try a recon and explain that the student loan payment is being deferred. Not sure, but I don't think Synchrony does a lot of recons......others know more about their position on this though and hopefully they will chime in.

Yes, all of the student loans are shown on the credit report and reflect $0 monthly payment and in deferrment until Nov 2015. The collections are not paid, he's been a full time student for 2 years with no income source. Child support case was closed, he has his son 50% of the time andadjusts all other costs. Arrears on credit are paid and closed about 2.5 years ago.

He only has a $25/mo revolving pmt reflecting on his credit, that's why I'm asking how student loans in deferrment are looked at?

Re: Amazon Store card - Denied?

gdale6 — Mon, 25 May 2015 02:14:44 GMT

@Shann0n_marie wrote:
@ecxpa wrote:
@Shann0n_marie wrote:
I've been helping my boyfriend with establishing credit - all he had was an old JcPenney store card, and student loans which are in deferrment as he just got out of school and he owes about $45k. I've opened him a QS1 (reporting) and a Cap1 Platinum card last month.

His current scores are 616 EQ, 644 TU & 658 EX. 10-15 yr AAOA. Only baddies are a collection ton from earlier this year & one from 2011. And child support lates but the account has been paid and closed.

In any case, I applied for the Amazon Store card for him & we got notification of the reason for denial yesterday and it said "INSUFFICIENT INCOME IN RELATION TO DEBT OBLIGATIONS"

My question is, how are they looking at the student loans that are in deferrment? They are obviously including them into the debt ratio and must auto calc estimated pmt?

Any advice would be appreciated!
evidently the student loan is listed on the CR.......does he have a job yet......are the collections paid......did the child support obligation end or did he just catch up the payments. You can sorta figure it up yourself.......after paying all of his bills does he have enough left to take on new debt. If he has sufficient income you may want to try a recon and explain that the student loan payment is being deferred. Not sure, but I don't think Synchrony does a lot of recons......others know more about their position on this though and hopefully they will chime in.
Yes, all of the student loans are shown on the credit report and reflect $0 monthly payment and in deferrment until Nov 2015. The collections are not paid, he's been a full time student for 2 years with no income source. Child support case was closed, he has his son 50% of the time andadjusts all other costs. Arrears on credit are paid and closed about 2.5 years ago.

He only has a $25/mo revolving pmt reflecting on his credit, that's why I'm asking how student loans in deferrment are looked at?

Its up to each individual creditor how they will look at them, its obvious Synch includes them in DTI. You cannot recon a computer denial with Synchrony Bank.

Re: Amazon Store card - Denied?

Anonymous — Mon, 25 May 2015 03:33:39 GMT

Just wait 6 months. Get a higher job and apply again

Re: Amazon Store card - Denied?

CreditCuriosity — Mon, 25 May 2015 04:00:22 GMT

@Shann0n_marie wrote:
@ecxpa wrote:
@Shann0n_marie wrote:
I've been helping my boyfriend with establishing credit - all he had was an old JcPenney store card, and student loans which are in deferrment as he just got out of school and he owes about $45k. I've opened him a QS1 (reporting) and a Cap1 Platinum card last month.

His current scores are 616 EQ, 644 TU & 658 EX. 10-15 yr AAOA. Only baddies are a collection ton from earlier this year & one from 2011. And child support lates but the account has been paid and closed.

In any case, I applied for the Amazon Store card for him & we got notification of the reason for denial yesterday and it said "INSUFFICIENT INCOME IN RELATION TO DEBT OBLIGATIONS"

My question is, how are they looking at the student loans that are in deferrment? They are obviously including them into the debt ratio and must auto calc estimated pmt?

Any advice would be appreciated!
evidently the student loan is listed on the CR.......does he have a job yet......are the collections paid......did the child support obligation end or did he just catch up the payments. You can sorta figure it up yourself.......after paying all of his bills does he have enough left to take on new debt. If he has sufficient income you may want to try a recon and explain that the student loan payment is being deferred. Not sure, but I don't think Synchrony does a lot of recons......others know more about their position on this though and hopefully they will chime in.
Yes, all of the student loans are shown on the credit report and reflect $0 monthly payment and in deferrment until Nov 2015. The collections are not paid, he's been a full time student for 2 years with no income source. Child support case was closed, he has his son 50% of the time andadjusts all other costs. Arrears on credit are paid and closed about 2.5 years ago.

He only has a $25/mo revolving pmt reflecting on his credit, that's why I'm asking how student loans in deferrment are looked at?

see highlighted for reason

Re: Amazon Store card - Denied?

Shann0n_marie — Mon, 25 May 2015 05:33:58 GMT

CreditCuriousity wrote:

Shann0n_marie wrote:

ecxpa wrote:

Shann0n_marie wrote:

In any case, I applied for the Amazon Store card for him & we got notification of the reason for denial yesterday and it said "INSUFFICIENT INCOME IN RELATION TO DEBT OBLIGATIONS"

My question is, how are they looking at the student loans that are in deferrment? They are obviously including them into the debt ratio and must auto calc estimated pmt?

Any advice would be appreciated!

Yes, all of the student loans are shown on the credit report and reflect $0 monthly payment and in deferrment until Nov 2015. The collections are not paid, he's been a full time student for 2 years with no income source. Child support case was closed, he has his son 50% of the time andadjusts all other costs. Arrears on credit are paid and closed about 2.5 years ago.

He only has a $25/mo revolving pmt reflecting on his credit, that's why I'm asking how student loans in deferrment are looked at?

see highlighted for reason

So they can tell that he didn't have income?

Re: Amazon Store card - Denied?

Skye12329 — Mon, 25 May 2015 05:52:53 GMT

@Shann0n_marie wrote:
@CreditCuriousity wrote:
@Shann0n_marie wrote:
@ecxpa wrote:
@Shann0n_marie wrote:
I've been helping my boyfriend with establishing credit - all he had was an old JcPenney store card, and student loans which are in deferrment as he just got out of school and he owes about $45k. I've opened him a QS1 (reporting) and a Cap1 Platinum card last month.

His current scores are 616 EQ, 644 TU & 658 EX. 10-15 yr AAOA. Only baddies are a collection ton from earlier this year & one from 2011. And child support lates but the account has been paid and closed.

In any case, I applied for the Amazon Store card for him & we got notification of the reason for denial yesterday and it said "INSUFFICIENT INCOME IN RELATION TO DEBT OBLIGATIONS"

My question is, how are they looking at the student loans that are in deferrment? They are obviously including them into the debt ratio and must auto calc estimated pmt?

Any advice would be appreciated!
evidently the student loan is listed on the CR.......does he have a job yet......are the collections paid......did the child support obligation end or did he just catch up the payments. You can sorta figure it up yourself.......after paying all of his bills does he have enough left to take on new debt. If he has sufficient income you may want to try a recon and explain that the student loan payment is being deferred. Not sure, but I don't think Synchrony does a lot of recons......others know more about their position on this though and hopefully they will chime in.
Yes, all of the student loans are shown on the credit report and reflect $0 monthly payment and in deferrment until Nov 2015. The collections are not paid, he's been a full time student for 2 years with no income source. Child support case was closed, he has his son 50% of the time andadjusts all other costs. Arrears on credit are paid and closed about 2.5 years ago.

He only has a $25/mo revolving pmt reflecting on his credit, that's why I'm asking how student loans in deferrment are looked at?
see highlighted for reason

So they can tell that he didn't have income?

If he listed a 0 income or not enough income then that would be the reason why. According to your post he has no income source. No income = can't repay debt in a lenders eyes