PayPal MasterCard denied

[AverageJoesCredit]

+1 @Anonymous

Your file is thin . How high your limits are and no mortgage are just things they like to put on the denial reason. Let your cards age another 6-12 months and you might try again. When you have a 1 year AAoA , and are under 5/24, go for your Chase. They like to see some age. Good luck OP snd welcome to myFico

[clipperskipper]

"Lack of first mortgage account information"

Apparently, they do. A mortgage gives them a long term picture of payment history. Anyone can carry paper, how much is something that you need to personally determine. 

EXP  850 10-30-2019 pull

EX    850 10-30-2019 pull

TU    850 10-30-2019 pull

[Meanmchine]

Sorry about your decline

Wait 6 months

If youre in a rush, try the prequal sites (Discover, Cap1, BBT etc )

[Remedios]

I have two paid off mortgages. No one really praised me for it, nor did it really help at all with any approvals
In fact my only two denials were for insufficient history and too many new accounts.
I was able to "explain" new accounts and got that card, but I was unable to do anything about insufficient history.
A little over a year after that denial, I was approved for two cards from them.

So, it will happen for you. You just need a little bit of time.

[Anonymous]

I've never had a Morgage, and it has never factored into me getting/not getting a CC. Once I got a couple of solid Bankcards under my belt, it became much easier to get more. A long history of payments to them still paints a picture of being reliable. 

If a person read too much into their reaons, would they would rush out and get a Mortgage just to satisfy said Lender? 

[Anonymous]

As most of you know Sync used to provide FICO scores with this card, but recently switched to Vantage.  I checked it the other day for the first time since the switch and it listed a negative to my score being lack of a mortgage.  For what it is worth my scores are excellent.

I really like the card btw.

[Anonymous]

"Sorry, we can't approve you at this time since you do not currently have a financed Rolls Royce. Feel free to apply again in the future when you have corrected this egregious shortcoming." 

[Anonymous]

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@Anonymous wrote:

"Sorry, we can't approve you at this time since you do not currently have a financed Rolls Royce. Feel free to apply again in the future when you have corrected this egregious shortcoming." 

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This sounds like something CNB Crystal would require from what has been said about their app process 😂 

[Anonymous]

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@Anonymous wrote:

Yeah I only have 2 credit cards. No loans or anything. Growing up I was told credit is a bad thing so I pretty much avoided it at all costs. I am an authorized user on an Exxon gas card for 3.5 years, though. Not sure if that means anything.

The letter only lists one reason for the denial (the length of accounts established reasoning) but later on the letter lists 4 key factors affecting your credit score. I thought the 4 key factors listed was more of a generic “these factors affect your credit score” thing and not necessarily “this is why we denied you.” But, like I said, I’m new to credit so I don’t know? 

Not enough available credit on revolving accounts

Too high proportion of accounts recently opened

Lack of first mortgage account information

Total credit limits and loan amounts is too low

thanks for the guidance by the way!

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The key factors are not the denial reason--they are what contributed to your current score. Those come from the credit bureau directly. That said, they do tell a story about your creditworthiness and what areas to improve your credit report and score. 

[KJinNC]

Sorry for your denial. I have no real accounts older than six months on TransUnion and only one on Equifax (old Exxon card). I have an AU card that is a few years old, but it's not on TU, either. I was approved for the PP MC at $3,500 a couple of months ago, so, your account ages are not a blocker in and of themselves, even if that's the one reason they listed. JMO, good luck!