sagestream report and credit card applications

[bRICrEAW]

I posted a week ago about my credit card application being denied.  I received a letter that says I was denied solely because my sagestream report was frozen. When I called, they said I have to get it unfrozen and reapply if I want the credit card. is it worthwhile to permanently unfreeze my sagestream report or could that potentially cause future problems if I left it frozen? The sagestream score was low for bogus reasons. I froze it after I was denied for a card based on sagestream, and I read how others think it is best to freeze it. I was thinking about removing the freeze permanently since it led to the denial and wondered what people recommend

[Anonymous]

I got approved via SCT for a Comenity Williams Sonoma Store Card and it must have been after that I froze my SageStream. Sonce then any CLI has been denied based on this report being frozen. I was given an unusable $250 limit, so while I would prefer a higher limit, I have zero desire to unfreeze this report for this particular card. I will likely cancel the card (or be canceled for non-use) once I get something better to replace it.

I guess it comes down to how badly you need/want that credit product. If you feel the score is too low to unfreeze and for bogus reasons, perhaps address those reasons before unfreezing it and apping for that credit product again. If the score is so low, do you believe you will become approved if simply defrosted regardless of score?

Good luck!

[TheFIGuy]

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@bRICrEAW wrote:

I posted a week ago about my credit card application being denied.  I received a letter that says I was denied solely because my sagestream report was frozen. When I called, they said I have to get it unfrozen and reapply if I want the credit card. is it worthwhile to permanently unfreeze my sagestream report or could that potentially cause future problems if I left it frozen? The sagestream score was low for bogus reasons. I froze it after I was denied for a card based on sagestream, and I read how others think it is best to freeze it. I was thinking about removing the freeze permanently since it led to the denial and wondered what people recommend

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Who is this mysterious credit card issuer?

My motto is probably not liked by many here but idk; if the issuer cannot approve me via EX, EQ, and TU reports, I need to evaluate how badly I want that card seriously.

I all my reports frozen for security reasons and will unfreeze after researching who, what, when, where, and why I want the card. I guess the freeze keeps me honest and doing research on if I really want the credit card.

[designated_knitter]

I hate sagestream -- they should be illegal!  I was denied for some credit product because of Sagestream.  Tried to get my report and score... they just sent my score which was 444.  

<edited to add> @Anonymous reminded me -- it was for a comenity card that I applied for.  My scores had gone up significantly and I applied for a Comenity card for which my traditional CRA score should have been more than enough -- but they pulled both EQ AND Sagestream and they denied me because of Sagestream.  Sooooooo, Comenity won't be getting any more of my business!

One of the factors they mentioned that brought down my score was "when SSN was issued relative to peers"... **bleep** does that mean?  My SSN was issued when I was born.  Now, I have had 2 name changes since then (when I got married and then when I got divorced and went back to my maiden name).  Is that somehow interpreted that my SSN was issued only in 2016 when I went back to my maiden name?  Or is that comment supposed to reflect that my score is more in line with people who are much younger (I'm 57) and therefore, their SSNs were issued much later than mine?

Another reason had to do with the when I got a new phone number (I changed it 18 months ago after I started getting spam texts and voice mails in Chinese).  

Sorry -- just had to get that off my chest -- there are sooooo many of these niche "Credit reporting agencies" now that it is impossible to keep up with all of them and know who is using what.

[TheFIGuy]

Hey @designated_knitter

I keep a bookmark in my browser named Finances > Credit "List of all the reporting agencies," so when I need to unfreeze (after doing that research I spoke of earlier), I can easily.

Here is the list for easy reference:

1. Experian
2. TransUnion
3. Equifax
4. Innovis
5. LexisNexis
6. Sagestream
7. Chexsystems
8. ARS

I think there is a more official list somewhere on these forums. But, those are the bigger ones that I know are used more commonly.

[designated_knitter]

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@TheFIGuy wrote:

Hey @designated_knitter

I keep a bookmark in my browser named Finances > Credit "List of all the reporting agencies," so when I need to unfreeze (after doing that research I spoke of earlier), I can easily.

Here is the list for easy reference:

1. Experian
2. TransUnion
3. Equifax
4. Innovis
5. LexisNexis
6. Sagestream
7. Chexsystems
8. ARS

I think there is a more official list somewhere on these forums. But, those are the bigger ones that I know are used more commonly.

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Wow!  Great list!  Thanks very much for that!

I just got my LexisNexis report -- what a mess that thing is.  I have a "v" in my last name and for every single record, they have a variant of my ACTUAL name and one with a typo of "B"... (i.e.  Let's say my last name "Love", they have my name listed as "Lobe" in 1/2 the records.)

Then (assuming I reading it correctly), it makes it look like I had my DL suspended for 3 months last year for a speeding ticket... I did get a speeding ticket but used a program in Indiana where if you pay the fine and court costs and don't receive another violation for 6 months, then the violation is removed from your driving record... I NEVER have had my DL suspended and last year's ticket was the first I had in over 25 years!)

[bRICrEAW]

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@TheFIGuy wrote:

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@bRICrEAW wrote:

I posted a week ago about my credit card application being denied.  I received a letter that says I was denied solely because my sagestream report was frozen. When I called, they said I have to get it unfrozen and reapply if I want the credit card. is it worthwhile to permanently unfreeze my sagestream report or could that potentially cause future problems if I left it frozen? The sagestream score was low for bogus reasons. I froze it after I was denied for a card based on sagestream, and I read how others think it is best to freeze it. I was thinking about removing the freeze permanently since it led to the denial and wondered what people recommend

---

Who is this mysterious credit card issuer?

My motto is probably not liked by many here but idk; if the issuer cannot approve me via EX, EQ, and TU reports, I need to evaluate how badly I want that card seriously.

I all my reports frozen for security reasons and will unfreeze after researching who, what, when, where, and why I want the card. I guess the freeze keeps me honest and doing research on if I really want the credit card.

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the card I was trying to get recently but denied was synchrony amazon store card and the card that led to me freezing sagestream was synchrony ebates

[coldfusion]

What was the outcome of your attempts to correct the bogus information being reported by Sagestream?

[TheFIGuy]

@bRICrEAW Ah, I see, 

I use the American Express (AMEX) Amazon Business Prime card for all my Amazon purchases. I would have applied for the Chase card, but Chase and I don't really get along much anymore. IMHO, I also don't like Chase's entitlement with its consumers; I cannot be tip-toeing around my card usage, etc. Maybe one day I'll jump back into the Chase ecosystem, but for right now, AMEX and USB are treating me respectfully.

I digress; SYNBank can be sticky about Sagestream. I personally didn't have issues with my Sagestream reports frozen when I applied for the Rakuten Card. The only issue I had was with the USB Checking account and 3rd form of verification. I unfroze it for the bank account verification and immediately froze it back.

[TheFIGuy]

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@coldfusion wrote:

What was the outcome of your attempts to correct the bogus information being reported by Sagestream?

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Personally, I have some incorrect information on my Sagestream reports and attempted to correct them. They never responded; life got busy, and I haven't gone back to correct. It's on my list of things to do once I get some downtime. Seeing it's frozen, it's not immediately important to me.