Howdy!
I made a poor choice and apped with Affirm via Wayfair and was denied after providing basic info, last 4 digits of ssn and bank login info. The reason was loaan amount requested >$400 and limited credit history. Ok I'll take that. As I continued to read I came across more details:
SERIOUS DELINQUENCY AND PUBLIC RECORD OR COLLECTION FILED
TOO FEW ACCOUNTS CURRENTLY PAID AS AGREED
NUMBER OF ACCOUNTS WITH DELINQUENCY
PROPORTION OF LOAN BALANCES TO LOAN AMOUNTS IS TOO HIGH
It was my understanding this should no longer be on my CR. Am I incorrect? If so how can I dispute? I have closed the Affirm account since being denied. The representative stated that once an account is closed you can never have another. I'm ok with that bc I should've fought the temptation of Wayfair.
TIA for your responses
Affirm provides personal loan service allowing you to make monthly payments towards item/items credited. Soft pull on credit. I applied for it via Wayfair, an online home good store who offers it.
It was from denial letter but it's on my eqifax report, not on TU or Experian
I figured the BK info and and limited credit history would be mentioned but unsure about number of account and proportion of loan balances is too high. At this point I only have a shared saving account with NFCU with positive a history.
@empressj wrote:I figured the BK info and and limited credit history would be mentioned but unsure about number of account and proportion of loan balances is too high. At this point I only have a shared saving account with NFCU with positive a history.
They are talking about that shared savings account, let's say you opened it up for $1,000 and you have payments of $60/mo until it is paid, if your present balance is more than $500 on that account is the reason for the explanation. (If it was a $500 starter and you have $250 or more-same thing). Serious delinq is the reported BK7 for 10 years.
