Hi! I recieved a letter today from Chevron saying that I was denied a card due to insufficient credit. I have a Sears account that has been open since 6/1997 and recently paid my balance to 0 (11/03). They used EQ, so I went to myFICO.com and that is the account they are showing and my score is 704. They also show me as an authorized user, not a joint owner. Could this be the problem?? How do I fix it? Thanks!! Francesca
unfortunately, one tradeline (to some lenders) doesn't constitute as sufficient credit. i would definitely get it corrected and maybe try another lender. maybe lbrown will let you be authorized user on his credit
Yea- but a chevron card....??? I have almost a 7 year history with not one late payment.....Just seems odd to me. I have always used cash and would like to build more of a creidt history...any ideas? I do own my house, maybe an equity loan?
I did call equifax earlier as well and they said I need to dispute it...But I am weary since sometimes good credit disappears......
Re: Re: denied gas card-Insuff. credit?? credit these days arent FICO based, but they use internal scorecards to determine risk. have you tried Capital One? I would contact the creditor (not the CRA) to have it corrected so it won't get deleted. if you get a Home Equity Line of Credit (HELOC), don't max it out, because is may report as a credit card, in which case would make your utilization appear high and drop your fico. for instance if you get $10k never go above $5k.
this is the only way i can seem to shut him up LOL. if you will notice, he has yet to respond to my flirtatious reaction to his insults.
