Saks Fifth Avenue MasterCard application rejected!

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Saks Fifth Avenue MasterCard application rejected!

Postby DJC » Mon Jan 07, 2013 11:58 pm


I recently applied for the Saks Fifth Ave Mastercard by Capital One and got denied. In the store the associate offered me the store card and got approved for $1200. After she recommended me to apply for the Mastercard right away, so I did and she told me I would be notified by mail.

So today I receive a letter stating I was denied. I am a bit confused and hoping someone can explain what is going on here. I am 21 with a FICO score of 763. I have a $700 limit with BOA, $1500 with Discover, $3500 with Costco True Earnings Amex, and a No-pre set limit with Premier Gold Amex.

On the bottom of the letter it states:
"Your Score: 241
The score ranges from a low of 50 to a high of 401.

The Reasons for the score are:
Mortgage Loan Amounts
Limited History at Credit Bureau
Limited Satisfactory Credit History"

I am trying to figure out why it says "Mortgage Loan Amounts" since I don't have ANY nor do I have any loans at ALL. I pay off all my card cards bi-weekly in full and do not have any debt. Could someone explain what the possibilities of the term "Mortgage Loan Amounts" can be? I was thinking it could be my credit card debt for the month but something doesn't add up. I will call Saks Fifth Ave in the morning but for now I can't go to sleep, someone please help me out thanks.

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Postby Robrus1 » Tue Jan 08, 2013 8:00 am

First of all, I wouldn't lose sleep over not having that card. They may have just not seen the credit history that they want. That's my guess, but who knows. Yeah, just give them a call.
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Postby DJC » Tue Jan 08, 2013 11:55 am

Thanks Robrus1 for the reply! I just called them and they said it was because I didn't have any mortgage or loans, and the scoring 50-401 is on their application scale. Guess it was a good thing that I got denied.

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Postby irvinfitness » Tue Jan 08, 2013 3:13 pm

DJC, You are eligible for a free copy of your credit report since you were "denied" for the card. There should be a website provided in the letter that you can go to. When you enter the appropriate information your report will be provided free of charge. It would be a good idea to take advantage of the free report and verify that there are indeed no errors that need to be corrected.
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Postby Money card » Sat Jan 12, 2013 8:33 pm

I never heard of a score being a 241. I thought scores are from 300 to 850 or 950? I don't see how your credit history is limited being
you have a gold american Express and a Discover card this I don't understand?
if they said you have limited credit history you had a wal mart discover and a M&t card that I can undestand but not what you have.
My taking is your Discover and your American Express are both way better cards than the sacks5th avenue mastercard.

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Postby randeman » Sun Jan 20, 2013 2:14 pm

Money card wrote:I never heard of a score being a 241. I thought scores are from 300 to 850 or 950?

I think you missed this part:

DJC wrote:and the scoring 50-401 is on their application scale.

I agree with the suggestion of looking over your credit report. Especially since it's free. I would take a look at a credit report at any time--well, at least three months apart for the same bureau's report.

Their score math strikes me as kind of odd. You have a very good score, less than 90 points from 850. Their scoring puts you at 241 with a top score of 401. Unless they are taking things about you into consideration that Fico doesn't, comparing numbers just doesn't seem to work out. Some math guru may correct me if I'm wrong.
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