ELNikkor

Though never missing payments on anything, last year, we finally paid off EVERYthing. Two months later, our credit score dropped 40 points, the reason? Not sufficient credit history!

Canisdirus

A few observations...credit score is very good...not exceptional...but very good.
It's not B&H...at all.
It's probably not Payboo.
It's Equifax more than likely.
Get the report either way...info is always better to have than not.

You mentioned you bought a modestly priced house with no trouble...apples and oranges a bit there.
Two very different scenarios.

However...purchasing the house on credit...may have put you on the edge for lending institutions.

Your risk went up as soon as you signed the mortgage papers. Credit score or not...which is not a bible...a signpost only.

I'd say...they say...you're full enough with credit.
Educated guess.

Get the report...it's yours.
Best of luck.

Tenor2 Loc: From Nazareth, PA - now suburban Chicago

On Saturday, 4/18, I received my rejection letter. [/quote]

Just asking! Will a rejected credit application effect your credit score? Contact the bank - don’t wait! BTW it’s just 4/11 on my calendar. You have the ability to time-travel!

ZtaKED Loc: Lakes Region, New Hampshire & NE Florida

Move to New Hampshire. No sales tax or income tax in the Live Free state. Then forget Payboo.

mikeroetex Loc: Lafayette, LA

p

Festus Loc: North Dakota

My guess is it has nothing to do with your 792 credit score. It has more to do with your half a million dollar mortgage. High volume debt is a killer for card applications.

Tracy B. Loc: Indiana

The exact thing happened to me. I have a score of over 800. I posted this last year on this forum and someone told me I was making it up.

MrPhotog

Just a thought. If you bought a new house, I assume you moved.

Is all your credit info based on someone who lives at the old address? They may not know it is you at they new address yet.

lamiaceae Loc: San Luis Obispo County, CA

Half a million is a fraction of a house in most locations in CA! Glad I own mine clear and with mortgage now!

lamiaceae Loc: San Luis Obispo County, CA

I think I remember reading it. I believed you. This Payboo thing is funky.

BebuLamar

And I said they denied because your credit is too good. They stand no chance to make money on you.

lamiaceae Loc: San Luis Obispo County, CA

That is quite possible, when we moved we had all sorts of weird problems with the change of address and we had owned the "new" location for 10 years before the move to that home. We had lived in the previous location for 32 years. Luckily this issues were not credit related.

goldstar46 Loc: Tampa, Fl

============================================================

Dear Geagle...

As a long-time customer of B&H, and someone who has had prior experience with the Commenity Bank, I would also like to offer some "Personal Observations" - Most of which deal with me and Commenity.

My comments first deal with an earlier situation, some 5 years ago in Nov of 2018, when I was the victim of identity theft, via a fraudulent credit card application (total of 5 accounts) all of which funneled through the Comenity Bank of Columbus, OH... Which seems to be the same as the PayBoo Credit Card Issuers... I have verified this info via the fact that the B&H website has an "Info Page" entitled: Current Credit Card Agreement" which can be found at the below-listed URL... YES, it is the same bank I had problems with.

Comenity Bank URL:
https://d.comenity.net/ac/bhphoto/public/credit-card-agreement

Also, I you will look at the above page, you will see that this finical institution has which is 29.99% with some very, very hefty 'late fee charges'...

The problem I have back in 2018 was that someone, unknown to me of course, opened a total of six (6) credit card accounts with various "online businesses" and the Comenity Bank approved all six of these accounts, without 'proper identification' of who the actual applicant was... and they were using my information which they found on the "Dark Web"... YES, I have safeguards in place BUT, at that time, unfortunately, I did NOT a "Credit Freezes" on these accounts.... and they "got me" in less than 3 hours, because of all of the "Hard Hits" on my account, my credit score went down over 65 points in about five hours... WOW

I have said all of the above to say this...... When I contacted a "Fraud Representative" at the Comenity Bank the next day........ They sound nice, and they talked a 'good game' like they really cared...... BUT, it took over 10 months to get the matter cleared up..... even though it was obvious, I was a victim and all the info I provided was adequate and complete.

The bottom line is ~~ This bank is very poor, and that is evident by the fact that they are at a "D+" rating at the Nation Better Bureau, with many, many of the same similar complaints... I would invite you to look them up via Google...

Continuing onward to back about 1 year ago, I was considering a large purchase at B&H and, like you, I considered the use of the B&H PayBoo Credit Card..... BUT, after a little bit of "Financial Due Diligence" (my degree is in accounting)... I said to myself ~~ NOPE ~~, I did not want any part of that arrangement, even though it might have saved me over $100 on the purchase...... Sadly, I went elsewhere and found something which was very near what would have been the discounted price...

NOW, this is my historical story, but let me offer my current thoughts.

* First, PayBoo is a "Finical Gemic" and yes, it works if you pay before you get a statement
* Second, I personally refused to be associated with a "Loanshark" like Comenity on my FICO Score
* YES, your credit scores are "Excellent" by "fiduciary" who would look at them
* AND, in my opinion, your score to Comenity meant... "You were going to pay & they would make no money"
* Lastly, a good credit score is "NO Guarantee" to some groups will approve your application...
........... It is only 1 piece of the decision process of what the company wants to do.

In summary, you have actually lost in a number of ways...
* First, you now have a "Hard Hit" on your credit account which you will probably never get removed
* Second, that "Hard Hit" is going to affect your FICO score for at least six months.
* Third, you have "tons of time" invested... as I did with my Identity Theft situation above
* AND... Lastly, you will "NEVER" get satisfaction from Comenity... IMHO

NOW, in closing, as for me, at the age of 76, I stay very much on top of my credit information just like you... Fortunately for me, right now, I have an Experian FICO Score of 850 and an Equifax FICO Score of 831...... and I work very hard at keeping it there... I truly and personally understand your current "frustration" with what seems to be a "BAD Business decision" on the part of Comenity.....

But, my personal experience says......... "Stay away from them" at all costs.
.... All of the above is just my personal opinion and my Personal Experiences.

NOW ~~~ I love B&H, it is just said, that they have made a business decision to associate with that bank.


Cheers
GoldStar46
George Veazey
####

goldstar46 Loc: Tampa, Fl

=============================================

Tracy B.

I would NOT accuse you of that for YES, I personally know it is "Possible"

REASON: At the age of 76 and with a degree in accounting and be somewhat financially confortable... I too have an Experian FICO Score of 850 and an Equifax FICO Score of 831...

YES, it can be done, and I can show documents to prove it......


So......... Stand Firm Kiddo


Cheers
GoldStar46
George Veazey
###

davidrb Loc: Half way there on the 45th Parallel

A financial institution simply has to say "You do not meet our criteria for acceptance" and that case is closed! Govt. laws prohibit that institution from stating specified causes. Dead-beats demanded this clause and now they have to live with it. If a person's credit rating does not qualify there might be a problem about which that person is unaware. It may be more beneficial to that individual to examine their situation before crying on an internet bulletin board. No one here can do a thing for that person. Some things must be done by one's self.