Personal Finance

Rejected with Store Credit Card

  • Last Updated:
  • Dec 11th, 2019 4:28 pm
[OP]
Sr. Member
Mar 7, 2008
639 posts
159 upvotes
Leask

Rejected with Store Credit Card

So I try applying for a store credit card so I can take advantage of 0% financing on a purchase of a luxury item.

Got rejected! I was surprise... Try calling the finance company they they simple told me to can the credit beureau like equifax and transunion....

Any advance to get this approved? It would suck if I couldn't get 0% financing...
16 replies
Sr. Member
Feb 18, 2019
507 posts
659 upvotes
If you were declined, you were declined. You can't really ask them to just change their mind.

That said, check your credit score via Credit Karma and Borrowell and make sure there's nothing on there that shouldn't be.
Deal Addict
Jan 21, 2018
4379 posts
4440 upvotes
Vancouver
Also check the information they actually entered on the application form. I've seen credit cards denied for stupid data entry errors, like "Annual income: $10,000-" when they meant to enter $100,000, after "careful consideration". :rolleyes:
Deal Fanatic
User avatar
Nov 13, 2010
7005 posts
1357 upvotes
Scarborough
It means you do not need said luxury item.

Stay safe and save your money.

Given security breaches these days i would not want identity fraud or abuse or breach from any stores these days. Use banks cc if you really need to.
Sr. Member
Feb 28, 2014
554 posts
662 upvotes
THINKPOD wrote: So I try applying for a store credit card so I can take advantage of 0% financing on a purchase of a luxury item.

Got rejected! I was surprise... Try calling the finance company they they simple told me to can the credit beureau like equifax and transunion....

Any advance to get this approved? It would suck if I couldn't get 0% financing...
Getting loans is always subject to approval from the lender and at the lender's discretion. If they reject you, there's a reason, they don't see you as a good risk for whatever reason or you don't fit the borrower profile that they want to do business with (think Tangerine, Tangerine is notorious for being random on who they accept/reject).

There's really no way to get them to change their mind, check your credit report to see if there's any discrepancies. That's the only way to get them to change their mind is if there was an error in your credit reports.
Deal Addict
Nov 8, 2017
1519 posts
845 upvotes
the way she goes boys

Ray
Trailer Park Boys
Deal Fanatic
Jun 11, 2005
8545 posts
2321 upvotes
Mississauga
THINKPOD wrote: So I try applying for a store credit card so I can take advantage of 0% financing on a purchase of a luxury item.

Got rejected! I was surprise... Try calling the finance company they they simple told me to can the credit beureau like equifax and transunion....

Any advance to get this approved? It would suck if I couldn't get 0% financing...
Unless they made a mistake you have been denied.

I would be more worried about why you were denied than it would suck if I couldn't get 0% financing for your luxury item.
[OP]
Sr. Member
Mar 7, 2008
639 posts
159 upvotes
Leask
Sucks that I can't get 0% on a $10K item... no with to pay by credit card. At least I get 1.75% cash back I guess.
Deal Addict
User avatar
Sep 6, 2018
1589 posts
1889 upvotes
Halifax, Nova Scotia
THINKPOD wrote: Sucks that I can't get 0% on a $10K item... no with to pay by credit card. At least I get 1.75% cash back I guess.
Why are you buying a luxury item that you can not pay off with cash within grace period? Mind sharing what your purchase will be?
[OP]
Sr. Member
Mar 7, 2008
639 posts
159 upvotes
Leask
aweawea wrote: Why are you buying a luxury item that you can not pay off with cash within grace period? Mind sharing what your purchase will be?
Never said I can’t afford it but if they offer up 0% finance, I always take it up.
Deal Addict
Apr 9, 2010
3172 posts
1323 upvotes
Montreal
Can you pay it off in 3 months? If not then you shouldn't be purchasing it since it's a luxury good and not an essential.

If you can pay it off within that time frame then get a LOC or MBNA credit card. A couple of dollars in interest won't make a difference.
Deal Addict
May 15, 2013
1768 posts
477 upvotes
Montreal
You didn't mention about your credit history.
Deal Fanatic
Jun 11, 2005
8545 posts
2321 upvotes
Mississauga
THINKPOD wrote: Sucks that I can't get 0% on a $10K item... no with to pay by credit card. At least I get 1.75% cash back I guess.
What are you buying or our you afraid we will toast your choice?
Deal Fanatic
User avatar
Aug 24, 2016
7901 posts
8218 upvotes
The Prairies
antigua1999 wrote: What are you buying or our you afraid we will toast your choice?
It’s none of our business what OP is trying to purchase, he didn’t come here asking for our opinion on what he should or shouldn’t purchase.
People finance material things all the time, and then there are the hypocrites that criticize what they do.
I see people all the time financing 70k pickup trucks, 15k sleds, 12k ATV’s etc... etc...
That’s the way of the world these days, life revolves around credit.
All this pay cash or don’t buy BS is nothing short of laughable.
[OP]
Sr. Member
Mar 7, 2008
639 posts
159 upvotes
Leask
Not really asking for agreement on a luxury purchase.

Just sucks not getting zero percent financing. Is either credit card or cash.

This is RFD, I know better, buying a $10k+ watch is not something that you will get a lot of fan fair on ;)
Deal Fanatic
Apr 5, 2016
5055 posts
3586 upvotes
Calgary/Vancouver
THINKPOD wrote: Not really asking for agreement on a luxury purchase.

Just sucks not getting zero percent financing. Is either credit card or cash.

This is RFD, I know better, buying a $10k+ watch is not something that you will get a lot of fan fair on ;)
If you know the credit is good and there's no errors, then it could be the sales rep entered your info wrong. If they have another location maybe try there and apply again. If your credit sucks, then unfortunately nothing you can do until it improves.
Current Fido and Rogers customer.
Ex Koodo customer.

Top