topic Re: Macy's denial in Credit Cards

Macy's denial

QAMngrGirl — Wed, 05 Dec 2012 01:20:17 GMT

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?

Re: Macy's denial

creditnocash — Wed, 05 Dec 2012 01:36:17 GMT

@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)

Re: Macy's denial

Epcot — Wed, 05 Dec 2012 02:00:02 GMT

I have never heard of someone being denied a card solely due to lack of an installment loan or mortgage. That's crazy.

Re: Macy's denial

QAMngrGirl — Wed, 05 Dec 2012 02:05:55 GMT

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

Re: Macy's denial

BearsAndTurtlesRtheBest — Wed, 05 Dec 2012 03:50:13 GMT

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.

Re: Macy's denial

Imua — Wed, 05 Dec 2012 06:06:02 GMT

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.

Re: Macy's denial

trumpet-205 — Wed, 05 Dec 2012 06:10:09 GMT

@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.

Re: Macy's denial

slarano — Wed, 05 Dec 2012 15:52:42 GMT

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.

Re: Macy's denial

distantarray — Wed, 05 Dec 2012 15:56:02 GMT

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 =(