Applied for the Verizon Card

[Anonymous]

I came out of the garden to apply for the Verizon Card ....  I really hate having to use my bank account to save $10.00 per month. 

Well, I got my verdict today, Good News is that they did not mention my bankruptcy but they did deny me for

**No open real estate secured loans in your credit file

/smdh

Back to the Garden

[CerebralZulu]

Sorry to hear that. Don't think I have heard of that being the reason for denial. If that becomes a trend a lot of creditors will be denying credit. What bank is the Verizon card backed by?

[Anonymous]

---

@CerebralZulu wrote:

Sorry to hear that. Don't think I have heard of that being the reason for denial. If that becomes a trend a lot of creditors will be denying credit. What bank is the Verizon card backed by?

---

It's Sync.

OP, sorry to hear that. It sounds like one of the reasons that comes back from the scoring model that usually means very little. I would try to recon per other threads on this forum. Best of luck!

[Anonymous]

Also sorry about the Verizon denial. Not that I was ever going to apply, but I'd be turned down for the same reason. Plus, apartment dwellers would be in the same boat.

[Wavester64]

---

@Anonymous wrote:

I came out of the garden to apply for the Verizon Card ....  I really hate having to use my bank account to save $10.00 per month. 

Well, I got my verdict today, Good News is that they did not mention my bankruptcy but they did deny me for

**No open real estate secured loans in your credit file

/smdh

Back to the Garden

---

What?? That's a first for me. I don't have any open real estate secured loans and I was approved. Very odd. Are you going to recon?

[CYBERSAM]

Sorry to hear that.

I've been thinking about this card too, but I'm hesitant to pull the trigger!

[RootDet]

Sorry to hear that. I suggest a recon since normally that wouldn't be a disqualified reason. How does your profile look overall?  

[Shooting-For-800]

This reason is given from several banks when apps may be borderline.

Navy used it on me once.

[dsotm76]

---

@Anonymous wrote:

I came out of the garden to apply for the Verizon Card ....  I really hate having to use my bank account to save $10.00 per month. 

Well, I got my verdict today, Good News is that they did not mention my bankruptcy but they did deny me for

**No open real estate secured loans in your credit file

/smdh

Back to the Garden

---

Very sorry to hear of your denial.  I'd definitely recon to see what they say.  It doesn't hurt and if they say no, then hey, no change.  :-)

Interesting that they listed that as a reason for denial.  When I look at my Sony card score, backed by Synchrony, they list this same thing as the reason for my score:

Lack of real estate secured loan information

A real estate secured loan can be a first mortgage, a home equity loan, or a home equity line of credit. The VantageScore credit score model relies on information in your credit files at the three national credit reporting companies (Equifax, Experian and TransUnion) to generate your score. A mix of different types of open and active credit accounts, including real estate secured loans, can have a positive impact on your score.

Maintaining open and active credit accounts in good standing can help improve your credit score.

Mind you, the score is 794 on their VantageScore 4.0.  I guess if that's a reason for denial, then it's a good thing I haven't given it consideration to apply.  

I hope you recon though.  If so, GOOD LUCK!

[RadioRob]

It's funny because I just got denied a CLI on my Sync-backed CareCredit card. Two of the reasons:

- Too little payment on real estate balances (duh... 385K house started 5 months ago.)
- Too little time since real estate account added.

So not only do you have to have real estate, you need to have had it awhile! lol