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07/12/10, 03:21 PM
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Join Date: May 2002
Location: Deep in the heart of Texas
Posts: 2,007
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Didn't know that anyone was denied credit cards
Don't they issue them to children, college students, dogs and illegals?
Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 or below, marking them as poor risks for lenders. It's unlikely they will be able to get credit cards, auto loans or mortgages under the tighter lending standards banks now use.
__________________
life's a holiday
People hear what they want to hear, and believe what they want to believe.
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07/12/10, 03:36 PM
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Join Date: Feb 2008
Location: Alaska
Posts: 2,675
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I need to work on my credit score.... it is only 807, 798, 810. It is really tough to get it higher.
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07/12/10, 03:52 PM
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Join Date: May 2007
Location: SW Washington
Posts: 547
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We were denied a credit card for our business after Advanta went under. Know why? Because we didn't have enough accounts open.
We have always had perfect credit - paid everything on time or paid off sooner than it was due. Apparently, that's not good. A very screwed up financial system, for sure.
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07/12/10, 05:57 PM
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Join Date: Sep 2005
Location: Ohio
Posts: 19,335
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Ds can't get a credit card from anywhere. He doesn't have enough credit to open a credit card account.
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07/12/10, 06:28 PM
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Join Date: Dec 2008
Location: Tennessee
Posts: 8,283
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Hey i got a pre disproved one in the mail the other day 
Don't know my score and don't care 
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07/12/10, 06:34 PM
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Join Date: Sep 2004
Location: Texas
Posts: 3,773
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Have no idea what my credit score is and really don't care. Haven't had a cc in probably 18 years and no loans of any kind including mortgage in at least that long.
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07/12/10, 06:44 PM
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Join Date: Apr 2005
Posts: 1,202
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My credit score is great but I was denied a credit card. My income is good. The reason was too many cards. I had a Sears but when the card expired I never got a new one. The same thing happened with: American Express, Profitt, Target, Paypal, Lowes and Discover. If a credit card company jacked my interest rate or levied an annual fee I paid off the balance and stopped using the cards. However, I never closed out the accounts, so my credit report shows too many opened accounts. If I close the account my credit score will drop. It's one of those catch 22 situations.
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07/12/10, 08:24 PM
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Join Date: Sep 2005
Location: Ohio
Posts: 19,335
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tamilee, closing the cards will affect your score for a lot less time than leaving them open. There was an instance a couple years back where a woman had a bunch of cards she didn't close. She moved and forgot to tell the cc company. They sent some cc checks to her old address and the people who lived there filled them out and cashed them. Since she didn't close the cards or notify the company of her new address she was responsible for the charges.
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07/12/10, 08:40 PM
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Join Date: Dec 2008
Location: Connecticut
Posts: 2,053
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Quote:
Originally Posted by cjean
We were denied a credit card for our business after Advanta went under. Know why? Because we didn't have enough accounts open.
We have always had perfect credit - paid everything on time or paid off sooner than it was due. Apparently, that's not good. A very screwed up financial system, for sure.
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I paid all mine off and got rid of them. Some years later, I tried to get another and I was denied. Now I just do without them.
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07/12/10, 08:42 PM
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Join Date: Dec 2008
Location: Connecticut
Posts: 2,053
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Quote:
Originally Posted by Ambereyes
Have no idea what my credit score is and really don't care. Haven't had a cc in probably 18 years and no loans of any kind including mortgage in at least that long.
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How happy more people could be if they shared the same testimony.
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07/12/10, 08:46 PM
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Banned
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Join Date: Oct 2006
Posts: 12,448
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Don't know what my credit score is, don't matter as I am not ever going to borrow money, finance anything, or get a credit card.
A debit card will do.
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07/13/10, 02:27 AM
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Join Date: May 2008
Location: Western NY
Posts: 597
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We also don't care what our score is. Haven't had a credit card in nearly four years and have been completely debt free for 5 months. Now working on saving. It's amazing how fast you can save money when you're not sending a couple a hundred a month to interest on a loan.
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07/13/10, 03:27 AM
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Join Date: Feb 2010
Location: west central California
Posts: 558
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Have you heard that some auto insurance companies are using your credit score to help calculate your risk and the result affects your policy cost?
http://www.insweb.com/auto-insurance...insurance.html
__________________
- Dave
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07/13/10, 04:09 AM
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Singletree Moderator
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Join Date: Apr 2002
Location: North Alabama
Posts: 8,846
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BoA and Citi both warned me that closing some inactive / low activity low fixed APR credit accounts I had administered by them through various organizations and investment / banking services that I belong to would negatively hit my credit score when I decided not to accept the conversion to varible APR on the accounts.
They were right . My scores dropped five to 10 points for about 90 days after they closed the accounts per my request and I sent the three services copies of my cancellation letters to the CC companies showing that I had cancelled the accounts rather than the companies closing them for default and my credit reports were updated with all the details the CC companies weren't required to include in their score slam. Now I have one new variable rate card with no balance and my scores are back where they were before I dumped BoA and Citi.
__________________
"I didn't have time to slay the dragon. It's on my To Do list!"
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07/13/10, 05:41 AM
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Join Date: May 2002
Posts: 3,773
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Its not you can get credit, its just that you can get credit on affordable terms.
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Gary in Central Ohio
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07/13/10, 01:18 PM
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Join Date: Oct 2004
Location: Ohio
Posts: 4,325
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Quote:
Originally Posted by primroselane
Don't they issue them to children, college students, dogs and illegals?
Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 or below, marking them as poor risks for lenders. It's unlikely they will be able to get credit cards, auto loans or mortgages under the tighter lending standards banks now use.
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Dropping credit scores is part of the plan. Those who have lower scores than they once had can look forward to new cards. Medical cards, food stamp cards (whatever they call them this week), and so on. They are part of the massive group that will soon be on welfare, by plan. 
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07/13/10, 02:13 PM
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Join Date: Jan 2010
Location: East Texas
Posts: 414
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We have no debt... House, land, cars are all paid for...
We were talking about getting a card "for emergencies" but I think we will just forget that. It's too easy to fall into bad spending.
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07/13/10, 03:11 PM
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Join Date: Jul 2006
Location: northcentral MN
Posts: 14,378
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The things they use to calculate credit score seem crazy to me but they write the rules so take it or leave it.
I just cancelled my Iberia Bank card and I wrote them a nasty note. I just got their card in March/April of THIS YEAR after searching the internet and finding one without an annual fee. Now I get a notice from them saying they are sending me a new card WITH an annual fee AND in order to opt out I have to put it in writing. I'm betting they are counting on people being too busy to sit down and write them a written notice that the card is rejected. I also told the girl to put a note in my account to NEVER contact me for any reason and I put that in my closing letter.
__________________
"Do you believe in the devil? You know, a supreme evil being dedicated to the temptation, corruption, and destruction of man?" Hobbs
"I'm not sure that man needs the help." Calvin
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07/13/10, 05:08 PM
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Join Date: Aug 2009
Location: SE Oklahoma
Posts: 2,005
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Quote:
Originally Posted by dezingg
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It is not only auto insurance. Homeowners Ins. is also based on one's credit score.
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07/13/10, 10:42 PM
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Join Date: Jan 2010
Posts: 1,866
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Our car insurance goes up every year due to our credit score and so does our house insurance.
The insurance companies also won't tell us anything about our credit score when we ask about it.
We have our credit score's checked every year and we are in the 700 and 800.
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