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Home Depot rejection

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Received letter from Home Depot stating declined. The letter stated : Unfortunately, after careful consideration, we're unable to approve your application at this time. The application was processed by a credit scoring system that assigned a numerical value to various items on your credit report. The information did not score a sufficient number of points for approval.

 

I'm not understanding this "point system" the letter speaks of. Is this how Home Depot determines approvals?

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They basically mean your credit score. They will have a minimum credit score threshold under which applications are declined.

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They have a internal scoring model they use. They are not a easy approval. You need a lot of trades or some very high trades reporting and over two years in business.

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I think its the high trades, I don't have enough of those reporting yet. Those haven't started to report yet for me except 2. The other trades have reporting are all under 500 and under. I have about 3 more over 1k that hasn't reported yet. I have been in business for 5 years.

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You need to wait for those Citi accounts to report to experian and then build from there.

 

I noticed you have T-mobile, AT&T and Verizon do you have active accounts with all three?

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Just tmobile I have had for 5 years. At&t and Verizon I fot approved for, but never opened any lines.

 

Sent from my SGH-T889 using Tapatalk

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Just tmobile I have had for 5 years. At&t and Verizon I fot approved for, but never opened any lines.

 

Sent from my SGH-T889 using Tapatalk

 

Did you try placing orders with them or just a preapproval?

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Just pre approval

 

Sent from my SGH-T889 using Tapatalk

How did you obtain the pre approval? In store, phone, sales rep?

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Are you speaking of home depot or at&t and Verizon?

 

Home Depot online app. At&t and Verizon, both in store

 

Sent from my SGH-T889 using Tapatalk

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Are you speaking of home depot or at&t and Verizon?

 

Home Depot online app. At&t and Verizon, both in store

 

Sent from my SGH-T889 using Tapatalk

Verizon and AT&T.. thanks for the info.

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