Denied Credit Card recieved Too few accounts with sufficient satisfactory performance?
Depends on how you paid for the house and cars - did you or do you have a mortgage...did you are are you using credit/loans to buy the cars? If the answer is no, then the decision is being made based on the one credit card you have and given the fact that many banks are tightening up their credit card lending policies due to the new consumer credit protection laws, that would be the reason for the "too few accounts" declaration...you just don't have enough recent credit history. This also may be the reason if you had car loans and a mortgage but they were paid off some time ago.
What the heck does YYYM mean when your credit card is declined?
Call the Credit Card company and ASK THEM! Got it yesterday decided to run it up yesterday maybe they have an alert that you are not allowed all your credit limit in one day. http://mysecuritypro.com/fraudprotection.aspx interesting site Found this by just googling it 3. Credit Card Approval 101 The following are examples of credit card approval codes and their meanings. When an order comes through, these codes are used to determine if the transaction is immediately approved or not. This is the first thing we look for. Approval Code Examples: 1. YYYM or YYYP 2. NNNN 3. NNNM 4. YNYM 5. YYYN The letter Y stands for Yes, N for No, M for Match, and P for American Express. The first digit tells us if your name matches what's on your account. The second digit tells us if your address matches what's on your account. The third digit tells us if your zip code matches the state that's on your account. The fourth digit tells us the CVV and/or the expiration date matches what's on your account. Example 1 (YYYM or YYYP) is a perfect input by the customer. They put their name in correctly, correct billing address, and a correct CVV number. Even with a perfect approval code, we reserve the right to question ANY order. Example 2
Credit card denial: What does it mean when they say one or more accounts are over the credit line?
I got turned down for a credit card today, and the company sent me a list of reasons as to why I was turned down. I understand all of them but one: One or more accounts are over the credit line. They got this information from my credit check. I have one credit card, and it is not over the credit limit at all, by a long shot. It does have a balance. What do they mean when they use the term "credit line" though, as opposed to credit limit? If I'm not over a credit card limit, how can I be over a credit line?
Victoria Secret Credit Card Denied Question?
They sent you a form letter denying you credit. The first reason was "Lack of Revolving Trade". That means you probably don't have any credit before this and they don't want to be the first to give you a credit card. "At or above credit limit on new revolving trades" This would mean you do have new credit cards, but that you've already maxed out the limit on those new cards. "Profile consists of high percent of bankcard trades" would mean you have some credit cards but no other credit experience, ie. Car pmts, student loans etc. "Presence of fraud indictors" Could be as simple as having a PO box instead of a street mailing address. Could be the number of credit cards applied for in a short period of time. Could be any number of things you aren't aware you've done that trigger the computer. Use your credit VERY wisely. The decisions you make today will follow you for a minimum of 7 years. Bad decisions take a long time to over come.
What does negative available balance means in terms of credit card?
You have a credit limit on a credit card. Let’s say your credit limit is $1000. You can spend up to $1000. Typically, the issuing bank lets you spend up to your credit limit which in this case is $1000. If you tried to spend $1050 most likely the transaction would get declined; however, in some cases issuing banks will allow for a little more and just approve it. In this case you’d have a negative credit balance available -$50.00. Another way that I can think of that you can spend more than your credit limit is with fees. Let’s say you have $1000 credit limit. You then buy something for exactly $1000. Then if you have a late payment or bounced check fee they will just add that to what you owe. Banks will always be ok with adding fees that exceed your credit limit.
Denied for a secured credit card?
I'm not sure how that can happen. Perhaps BOA will be able to give you more information. You might check out Capital One. That was where I got my first starter credit card. I was trying to establish my first credit and they gave me an unsecured card with a $300 limit. From what I have heard, they are fairly easy to get a starter card from but the limit will be low so you can't get yourself into too much trouble with it.
What does "available credit" mean?
That would be how much you can have as a balance on a credit card or loan. Once you hit that, there will be fees and your card will most likely be denied.