topic Re: Marcus GM turned us down for strange reasons! in Business Credit

Marcus GM turned us down for strange reasons!

JimmiS — Wed, 18 Dec 2024 12:43:39 GMT

What is up with GM Marcus? My gf was declined for not enough time in business. She incorporated in 2019 and her EQ score is 810! I was declined for "average length of credit." My average is six years. My EQ is 824. We have 2% utilization and both of us have two tradelines reporting on EQ business. Maybe Lexis got us? But Capital on Tap uses Lexis and they just gave me 14k. And Truist just gave me a 50k BLOC. It makes no sense. The non-fintech banks love us. When I call, all they can tell me is to "apply again at a later date, it won't hurt my score." It seems they're leaving a lot of money on the table.

Re: Marcus GM turned us down for strange reasons!

CreditCuriosity — Wed, 18 Dec 2024 14:46:34 GMT

Got same thing a few times when tried a year or so ago and been and LLC since 2002 approx saying business hasnt been around long enough come again? . Doesn't make sense especially when have cards with Amex Business, BofA, etc. Not sure where they are getting their information was just going to get to have honestly as a SP against personal credit so just didn't even try to figure it out and moved on as many better cards out their for businesses.

Re: Marcus GM turned us down for strange reasons!

JimmiS — Wed, 18 Dec 2024 13:43:54 GMT

I normally see declines as an opportunity to tweak things. But what can you do when the bank is tweaking!?

Re: Marcus GM turned us down for strange reasons!

GZG — Wed, 18 Dec 2024 19:18:52 GMT

@JimmiS wrote:
What is up with GM Marcus? My gf was declined for not enough time in business. She incorporated in 2019 and her EQ score is 810! I was declined for "average length of credit." My average is six years. My EQ is 824. We have 2% utilization and both of us have two tradelines reporting on EQ business. Maybe Lexis got us? But Capital on Tap uses Lexis and they just gave me 14k. And Truist just gave me a 50k BLOC. It makes no sense. The non-fintech banks love us. When I call, all they can tell me is to "apply again at a later date, it won't hurt my score." It seems they're leaving a lot of money on the table.

they're selling it off to barclays?, wouldn't surprise if underwriting has tightened up in prerperation for the sale

Re: Marcus GM turned us down for strange reasons!

cashorcharge — Fri, 03 Jan 2025 01:01:24 GMT

Agreed @GZG

CLI's have dried up for many as well....

Re: Marcus GM turned us down for strange reasons!

RealEstateGuy89 — Mon, 06 Jan 2025 09:33:38 GMT

@GZG wrote:
@JimmiS wrote:
What is up with GM Marcus? My gf was declined for not enough time in business. She incorporated in 2019 and her EQ score is 810! I was declined for "average length of credit." My average is six years. My EQ is 824. We have 2% utilization and both of us have two tradelines reporting on EQ business. Maybe Lexis got us? But Capital on Tap uses Lexis and they just gave me 14k. And Truist just gave me a 50k BLOC. It makes no sense. The non-fintech banks love us. When I call, all they can tell me is to "apply again at a later date, it won't hurt my score." It seems they're leaving a lot of money on the table.
they're selling it off to barclays?, wouldn't surprise if underwriting has tightened up in prerperation for the sale

Aww Jeez, when is this supposed to be taking place? I have their personal GM card and the business GM card both. SMH.