KOHL's credit denied. - Credit Repair Forum from Creditnet
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  1. #1
    sampat2 is offline Newbie
    Join Date
    May 2008
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    1

    KOHL's credit denied.

    I recently applied for KOHL's credit card at the checkout register. I was denied. I received letter from them indicating following reasons for the denial.
    - High Credit Limit On Open Bankcard Trades
    - Limit Utilization On All Open Accounts
    - Number Of Active Mortgage Trades.
    I have 2 credit cards that are paid off every month and have only 1 mortgage.
    I pulled TransUnion credit report and looks OK. I also pulled credit score from quizzle.com and it is higher than 800 (?does not appear to be FICO score?).

    Any ideas on what is happening here.
    What do I need to do?
    Appreaciate all info and help.

  2.  
  3. #2
    bizwiz41 is offline Senior Member
    Join Date
    Jul 2003
    Posts
    2,133
    Quote Originally Posted by sampat2 View Post
    I recently applied for KOHL's credit card at the checkout register. I was denied. I received letter from them indicating following reasons for the denial.
    - High Credit Limit On Open Bankcard Trades
    - Limit Utilization On All Open Accounts
    - Number Of Active Mortgage Trades.
    I have 2 credit cards that are paid off every month and have only 1 mortgage.
    I pulled TransUnion credit report and looks OK. I also pulled credit score from quizzle.com and it is higher than 800 (?does not appear to be FICO score?).

    Any ideas on what is happening here.
    What do I need to do?
    Appreaciate all info and help.
    First, do not overlook the obvious, feel free to call Kohl's credit and inquire what these reasons mean to them as stated. Their reasons sound like they're saying your credit limits are too high relative (possibly) to income. It also sounds like your credit cards were near their limits on the day they checked your credit.

    I would speak to Kohl's and inquire more about this rejection, perhaps request another review of your account application.

    I would also check your credit score on www.myfico.com for your "true" credit score. Check the forum threads for the latest discounts.

  4. #3
    ccbob is offline Senior Member
    Join Date
    Feb 2007
    Posts
    1,157
    If you were denied credit, you can get a free copy of your credit report from the CRA they pulled. I would do that to 1st to see what they are talking about because their reasons do not sound like what you describe insofar as your utilization.

    You can also go to myfico, but since that costs money, I'd do the free thing first just to see if anything obvious shows up like old, outdated, or incorrect information. After reconciling the credit report with the CRA, then you can spend the money on myfico to see what number they're reporting.

    No point in spending money when you don't have to.

  5. #4
    Jhnsn283 is offline Newbie
    Join Date
    Aug 2008
    Posts
    1

    Got The Same Response In The Mail Today From Kohls

    High Credit Limit On Bankcard Trades.......wtf....the Only Bank Card I Have Is A Check Card And That Limit Is Based Off What We Get Paid....given We Do Have A Good Salary That Shouldn't Affect My Credit Basing Standards When Applying For Credit........ Especially At Kohls!!!!

  6. #5
    greg1045 is offline Senior Member
    Join Date
    Aug 2007
    Posts
    881
    Kohl's credit card portfolio is probably run through/by either Citi or Chase.

  7. #6
    jam237 is offline Senior Member
    Join Date
    May 2003
    Posts
    3,463
    Request in writing re-consideration, if you have proof that you PIF your CC bill, provide them a bill showing this.

    The CR is deaf, dumb, and blind.

    All it knows is that on the date the statement was printed (usually - they report on or around the same date) your balance was.

    Depending on the CR, and the creditor, it may show the MIN PAYMENT, and LAST PAYMENT, but those may get over-looked by the scores.

    The last one is the one I love the most, and it could be either you have NO MORTGAGE, or MORE THAN ONE. Why, given the mortgage climate in America NOT HAVING A MORTGAGE would be a BAD thing, I can't fathom, but ours is not to reason why...
    --
    jam
    An educated consumer.

    Daniel Webster: You seem to have an excellent acquaintance with the law, Sir.
    Scratch: Sir, that is no fault of mine. Where I come from, we have always gotten the pick of the Bar.
    The Devil and Daniel Webster, Stephen Vincent Benet

  8. #7
    Hedwig is offline Senior Member
    Join Date
    Jan 2003
    Posts
    4,928
    You need to find which bureau they're pulling and get your report from that bureau.

    You could have erroneous information reporting.
    The Answer is 42!!

  9. #8
    phantom is offline Senior Member
    Join Date
    Mar 2003
    Posts
    251
    Just a note on quizzle.com - their FAQs say that they pull an actual credit report from Experian.

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