Medachiever Denial

[lacarthic]

I have a question, I was denied the Medachiever loan because I missed a couple of payments on my credit card about a year ago. My credit is ok but they denied me anyway and told me that I could send an explanation since I lost my job at that time. I have not had any experience with Key Bank are do they usually take the explanations into consideration or is it just a waste of time?

Thanks for the help.

[wolfvgang22]

Keybank is usually pretty good about trying to help people out. Definitely send Keybank an explanation.

What you also might want to do is go to MyFico.com and get an equifax credit report (aobut $13), this is the one that Keybank uses. This website will give you your credit score and also show you ways to improve your score.

Stuff you can do:
1. You can dispute the late payments.

2. If you are a card-holder on anyone else's account, but not the primary card holder, tell Keybank this and they might remove that from your total allowable revolving credit amount, thus improving your credit score as far as they are concerned.

3. The fastest way to improve your credit score is usually to
pay off any revolving credit as much as possible (credit cards).

4. DO NOT keep applying for loans over and over, as each application causes what's called a "hard pull" of your credit report by the bank and drops your credit score 6-8 points each time. I know, it sucks.

MyFico and http://www.creditboards.com can give you more ideas. 8)

Disclaimer to moderator: I'm not trying to sell MyFico, there are other websites that might work, too. I just listed the one I used.

[manleyjb]

Perefect advice. Find out specifically why you were denied and then try to dispute those late payments. Just do whatever KEy bank tells you to do and they will work with you as much as they can. They want to approve you,,they know they will get their money back..Take Care

[charlottenian]

Just find out the problem and keep pursuing it... I got rejected 2 times from them even after appeal until I had my lawyer fix the situation... I had claims against me from an auto accident (I was not the person at fault) that I could not afford to pay.... So I payed the claims and cleaned up my credit and they still rejected me on the basis that the collection claims were recent (less than 2 yrs)... So after that my lawyer representing me in my injury case spoke with the credit cheif over at KeyBank and got everything corrected... Basically don't quit

[mma4life]

Stuff you can do:
1. You can dispute the late payments.

2. If you are a card-holder on anyone else's account, but not the primary card holder, tell Keybank this and they might remove that from your total allowable revolving credit amount, thus improving your credit score as far as they are concerned.

3. The fastest way to improve your credit score is usually to
pay off any revolving credit as much as possible (credit cards).

4. DO NOT keep applying for loans over and over, as each application causes what's called a "hard pull" of your <a target=new href=http://service.bfast.com/bfast/click?bfmid=13376670&siteid=40341639&bfpage=banners_ccms>credit report</a> by the bank and drops your credit score 6-8 points each time. I know, it sucks.

MyFico and http://www.creditboards.com can give you more ideas.



This person knows exactly what they are doing! Creditboards.com saved me and you should keep up with it all the time( great loopholes, advice and info that everyone should know in terms of building/rebuilding credit) Could only take a couple months to fix your credit...take this advice!