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At a stall in my rebuild

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Frequent Contributor

At a stall in my rebuild

I have made a great improvement in my score over the last couple years have some great cards with some great limits the problem I have now is I keep getting denined increases due to " Lack of Real Estate accounts " I own my home and my loan it's too old to get a home equity or anything like that so I'm at a loss on how to get around this hurtle



MAJOR BANK CARDS


Amex BC 15k, Amex CM 1500, Amex Delta 1k, BBT Travel 4500, BBVA 6900,
CAP1QS 2600, DIscover 3300, Marvel MC 6000, Wells Fargo CR 4500
Blispay 2k
CREDIT UNION CARDS Dcu 2k , Robbins 10k ,united1st 5k
STORE CARDSAmazon 10k , HomeDepot 5k , Pay pal 4k , Wal mart 6k ,Lowes 12k


Message 1 of 9
8 REPLIES 8
Senior Contributor

Re: At a stall in my rebuild

With all the cards listed below. Who is it thats reporting this statement. The reason codes dont always match the real deal. You home is paid for. Do you have any installments loans open presently?





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 9
Frequent Contributor

Re: At a stall in my rebuild

I've been seeing the "lack of real estate loan" excuse a lot more lately.  Granted, I don't have your profile or your scores and I have a lot of other factors but I'm like "huh?  Not everyone a) chooses to own property or b) owns property but no loan on it.  

 

It doesn't seem fair but like everything in Fico-land -- nothing is really fair. 

 

To OP -- either there is something else pulling you down (which it doesn't look like) OR having a mortgage will become the new gold standard required to achieve even the highest tier of credit.  Short of going out and buying a house (which is stupid -- it isn't like that makes financial sense -- you may either have to declare victory and move on or work the back office numbers HARD)

 

To FireMedic -- I have seen that reason by Synchrony and Chase (Chase was for applying for a savings account -- not even a credit product!)

 

I realize I'm not one to be doling out credit experience so my input is worth what you paid for it (which is zero).  Good luck!

 

 

Starting Over Again after Cap1 Death Penalty:
06/18/2019:
09/06/2019:
BACK in the garden for the rest of my life!
Message 3 of 9
Frequent Contributor

Re: At a stall in my rebuild

yep SYnc  they raised my lowes up to 17k but the rest of my cards were denined and that was the reason and yes i have a car loan and SSL currently  and a paid off car loan also showing  loans Bal both are 5k




MAJOR BANK CARDS


Amex BC 15k, Amex CM 1500, Amex Delta 1k, BBT Travel 4500, BBVA 6900,
CAP1QS 2600, DIscover 3300, Marvel MC 6000, Wells Fargo CR 4500
Blispay 2k
CREDIT UNION CARDS Dcu 2k , Robbins 10k ,united1st 5k
STORE CARDSAmazon 10k , HomeDepot 5k , Pay pal 4k , Wal mart 6k ,Lowes 12k


Message 4 of 9
Moderator

Re: At a stall in my rebuild

You dont need an SSL with an open auto loan. What are the other reasons on the decline letter where this showed up, its never a primary or real reason. 

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 5 of 9
Frequent Contributor

Re: At a stall in my rebuild

I'm aware I have one for another purpose didnt want to just spend the cash all at once



MAJOR BANK CARDS


Amex BC 15k, Amex CM 1500, Amex Delta 1k, BBT Travel 4500, BBVA 6900,
CAP1QS 2600, DIscover 3300, Marvel MC 6000, Wells Fargo CR 4500
Blispay 2k
CREDIT UNION CARDS Dcu 2k , Robbins 10k ,united1st 5k
STORE CARDSAmazon 10k , HomeDepot 5k , Pay pal 4k , Wal mart 6k ,Lowes 12k


Message 6 of 9
Senior Contributor

Re: At a stall in my rebuild

What type of credit have you been applying for that gave you those reasons for denial?

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (9.3.19) EX: 824 / EQ: 834 / TU: 832
Message 7 of 9
Highlighted
Senior Contributor

Re: At a stall in my rebuild


@designated_knitter wrote:

I've been seeing the "lack of real estate loan" excuse a lot more lately.  Granted, I don't have your profile or your scores and I have a lot of other factors but I'm like "huh?  Not everyone a) chooses to own property or b) owns property but no loan on it.  

 

It doesn't seem fair but like everything in Fico-land -- nothing is really fair. 

 

To OP -- either there is something else pulling you down (which it doesn't look like) OR having a mortgage will become the new gold standard required to achieve even the highest tier of credit.  Short of going out and buying a house (which is stupid -- it isn't like that makes financial sense -- you may either have to declare victory and move on or work the back office numbers HARD)

 

To FireMedic -- I have seen that reason by Synchrony and Chase (Chase was for applying for a savings account -- not even a credit product!)

 

I realize I'm not one to be doling out credit experience so my input is worth what you paid for it (which is zero).  Good luck!

 

 


This "lack of real estate loan" seems to be popping up more and more lately it seems. They got to put some knid of reason. Lame. Smiley Tongue





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 8 of 9
Valued Contributor

Re: At a stall in my rebuild

Lol I got that as a denial reason from Kohl’s 😂 I have a closed, PIF mortgage in my past too. Apparently if one is not still paying for a house, one has enough spare cash that a Kohl’s CLI is unnecessary...


Rose Gold | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020




Message 9 of 9
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