Do I have to buy a house?

[disney2]

Lately, I've been getting CLIs on some cards but not others.  I received the letters from them this week and a common theme for the rejections is that I have no mortgage.  My house is paid for so of course I don't need a mortgage.  Do I have to have a mortgage to get my credit bumped up?  Geez.

[AllZero]

The answer is, no. Seek another lender. It would be an expensive proposition just to get a CLI.

[sccredit]

DW is over 800 with no mortgage reporting.  

[Anonymous]

Same boat here - house is paid off, no more mortgage. Kohl’s denies me a CLI with the #1 reason being that I’m not currently holding a mortgage 😂

[coreyb80]

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@Anonymous wrote:
Same boat here - house is paid off, no more mortgage. Kohl’s denies me a CLI with the #1 reason being that I’m not currently holding a mortgage 😂

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Oddly enough, this is why Commenity denies me a CLI as well.  About to pay them off and kick them to the curb.  

[Anonymous]

The 4 reasons you get on a denial are simply telling you the highest reasons for not having an 850.

[Anonymous]

I’d think mine would then be less than ideal utilization and the presence of a derog but then again, Kohl’s is backed by CapOne and they don’t make a lot of sense...

[Remedios]

Lemme go buy another house so I can have a $300.00 card 

Makes sense 

[Anonymous]

Exactly - see? You get it! It’s so stupid...

[K-in-Boston]

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@Anonymous wrote:

The 4 reasons you get on a denial are simply telling you the highest reasons for not having an 850.

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+1

These reasons are not why an individual lender denied you.  They are the reasons from the credit reporting agency for the reason you do not have a perfect credit score and are required to be given.  With that said, credit scores are never the sole factor in a lending decision.  It's very possible that someone with a 700 score may be approved for something while someone with an 840 may be denied.  If you are being denied a CLI, there is another factor (or factors) why you are being declined.