Bizarre..my FICO score is 786 and Chase denies me a credit card

[Snouter]

I have my beloved Citibank card from 1989 "Driver's Edge" which accumulates cash for car purchases, but Amazon promoted a deal so I figured WTF. English speaking Americans this is no joke. This is what the letter said.

To paraphrase, "the decision was based on information from Experion," a really bad credit agency that allows for fraud and takes years to clear up even after providing them with documents like a real birth certificate and a real drivers licenses, that invariably get hacked to the dark web since they have no idea what they are doing. Then it says, "Experion played no part in our decision." LOL

 

[Vastator]

Debt is slavery. They did you a favor...

 

[harmonica]

I guess you are white?

 

[Natural Citizen]

I wouldn't own a chase or citi card if they paid me. Consider yourself lucky, Snout.

Get a Discover card. Customer service is all American, too.

 

[Snouter]

IMO Citi card is pretty good. They shut down a crook who got my numbers and my old cell phone number and sent me a new card overnight.

Just for the record, I have paid off my credit card every month since 1989 so never incurred an interest charge. The once or twice I was late I called and the Indian worked it out so I was not penalized. In the contract they hit you hard if you miss a payment.

Also Citibank sent me a check for over a grand when I bought my Dad a car back in 2003. That is the "driver's edge" deal with it. Obviously, I gave the check to my Dad but still.

 

[Picaro]

Screw Citi-Bank. Get a Discover card, like NC said. IT's the only one I have, and I use it maybe once a year for some emergency or other, usually car repairs on the road or taking guest out to dinner somewhere.

 

[BasicHumanUnit]

Just for the record, I have paid off my credit card every month so never incurred an interest charge.

BINGO!
You're of little or no value as a customer. They don't want you paying off the bill every month, they want INTEREST PAYMENTS every month.

(I paid off my last credit card over 7 years ago and never applied for (Nor accepted) ANY more credit cards.)
If I can't afford to pay for it up front, I don't need it.

 

[WheelieAddict]

Check your credit reports for errors and dispute them.

 

[Natural Citizen]

With a 30 year credit history and a high lending score in the 780s, he shouldn't have a problem getting more credit with great rates. It's odd.

The thing that killed my credit/lending score years ago was when I paid my house off. I went from a 768 all the way down to a 500 something. It took me a decade to get it back up in the high 700s.

Since my mortgage was my longest credit history, when I paid my house off it started my credit history over again. They should really not do that to people.

 

[Natural Citizen]

Screw Citi-Bank. Get a Discover card, like NC said. IT's the only one I have, and I use it maybe once a year for some emergency or other, usually car repairs on the road or taking guest out to dinner somewhere.

It's a great card, isn't it? They're very generous with their rewards, too. I like that they let you design extra cards for rotational use. I keep one at home and one in my wallet. Free monthly FICO report is a good perk. I haven't been late yet, but they don't count your first late payment against you, they forgive it. That's pretty good, you never know when it might come in handy.

 

[Picaro]

I have a shit credit score myself. No loans in many decades, paid cash for my starter house and added on to it over the years, and also own around 20 acres I use for a sizable truck garden, keeping a cow or two and a couple of horses on, and a neighborhood playground. I can get a bank loan over the phone due to a lot of collateral, or get gold wholesale by the Kg on credit from several brokers, but other credit providers don't like me at all. I think I'm actually lucky for that reason.

 

[fncceo]

You realize they're all run by Jews, right?

They pay attention to what you say on the Internet.

 

[Marion Morrison]

I have my beloved Citibank card from 1989 "Driver's Edge" which accumulates cash for car purchases, but Amazon promoted a deal so I figured WTF. English speaking Americans this is no joke. This is what the letter said.

To paraphrase, "the decision was based on information from Experion," a really bad credit agency that allows for fraud and takes years to clear up even after providing them with documents like a real birth certificate and a real drivers licenses, that invariably get hacked to the dark web since they have no idea what they are doing. Then it says, "Experion played no part in our decision." LOL

You dodged a bullet anyway. I'm sure my credit score is pretty low, I pay cash for

everything, I go without if I can't pay cash.

 

[JoeB131]

I just paid off my last credit card and second mortgage, and my credit score is 845....

So I'm calling BS on a lot of these stories.

 

[Natural Citizen]

I just paid off my last credit card and second mortgage, and my credit score is 845....

So I'm calling BS on a lot of these stories.

Which stories are you calling bullshit on? Because as soon as I paid my house off, the loan came off my credit report and decades of credit history were erased. I think I know a little bit more about my credit report than you do.

 

[bullwinkle]

You realize they're all run by Jews, right?

They pay attention to what you say on the Internet.

What does THAT mean.."run by Jews"? Would it be different if run by Swede's or other Teutons and Aryans?

 

[Erinwltr]

With a 30 year credit history and a high lending score in the 780s, he shouldn't have a problem getting more credit with great rates. It's odd.

The thing that killed my credit/lending score years ago was when I paid my house off. I went from a 768 all the way down to a 500 something. It took me a decade to get it back up in the high 700s.

Since my mortgage was my longest credit history, when I paid my house off it started my credit history over again. They should really not do that to people.

Thank you, I had no idea.

 

[Marion Morrison]

Hmm..I was going to take out a small mortgage and pay it off just to boost credit score. That idea is not looking so good right now.

 

[Natural Citizen]

Thank you, I had no idea.

YW. There's a lot of that discussion on the FICO forum. A lot of people have got hit with that. If young people get a credit card before or around the same time they take on a mortgage , they won't lose the years of credit history, so long as they keep the credit card.

For years, I always used my debit card to buy things, I never had a need or want for credit cards. I only started using credit cards about 10 years ago. So, when the mortgage dropped off, I lost all of that credit history and the credit report automatically picked up on the next oldest rotating account. Which, of course, was the credit card I got about 20 some years after I took on the mortgage.

 

[gipper]

All you need do if you have no debt, is get a couple credit cards and use them. If you pay on time all the time, you will quickly attain a high credit score.

It matters not how much you spend on the CC either. If you only use the cards a couple times a month for small dollar purchases, your credit score will rise.