credit history

[Anonymous]

I pay all my bills on time. I pd my student loan off on time. I have 1 credit card, keep the balance abt $3000/m and pay it in full. I have had this card since 1978. I pay my mortgage on time. I applied for a Sears credit card and was denied due to "no credit history". I feel as though I did everything right but am being punished anyway.  What can I do?

[llecs]

You have a CC with a 32-year history. Is that your card or are you listed as an authorized user? And does it report to all 3 reports?

[RobertEG]

I would begin by ordering your free annual credit report from  annualcreditreport.com, which will provide a full, free summary of your credit history.

A statement of "no credit history" would clearly be  incorrect if you provide a CR showing otherwise.

[Anonymous]

I got a copy of Equifax when the Sears card was denied. My credit card issued in 1979 has always been in my name. The mortgage is in my name. The mortgage has been sold many times and each time it says paid as agreed. Length of credit history = 0; no public records, no negative accts, no collections. I have not gotten copies of the other two reporting agencies. Why would they be any different? What can I do ?

[pizzadude]

You could probably have success applyting for another card with your existing CC creditor, given that you have had this account open since '79.   That is fantastic by the way, your Average Age of Accounts ( AAoA) must be well over 20 years, right ??

[Anonymous]

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@Anonymous wrote:

Length of credit history = 0;

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HOW can that be? 

[Anonymous]

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@Anonymous wrote:

I got a copy of Equifax when the Sears card was denied. My credit card issued in 1979 has always been in my name. The mortgage is in my name. The mortgage has been sold many times and each time it says paid as agreed. Length of credit history = 0; no public records, no negative accts, no collections. I have not gotten copies of the other two reporting agencies. Why would they be any different? What can I do ?

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Are you saying you got a copy of your full report or just the info from the letter that Sears sent about the denial? When you say the mortgages show paid as agreed I can not see any way that Equifax would be saying that your oldest account is 0 Years and your Average Age of Accounts is 0 Years.

If you have not already go the the website www.annualcreditreport.com and pull your reports from all 3 bureaus.  Do not confuse this site with any of those fancy commercials you see on TV for credit reports. This is the governments once a year mandated report site. And don't let them sell you credit scores or monitoring while you are getting your annual report.

 If you are basing your information on the letter that Sears sent, I would suggest that maybe it was an error on Sears part and you could call their credit department after reviewing your reports yourself.

Good Luck and let us know how it turns out.

[RobertEG]

If a credtior denies you credit based on information contained in your CR, they are required by law to identify the information relied upon.  They have done that in writing.

You can show that their reasons are clearly incorrect.

They would, in my opinion, be required to reevaluate their denial.  I would definately pursue it.