Gander Mountain credit card denies everyone with 800+ FICO!

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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The Tomorrows
 
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Gander Mountain credit card denies everyone with 800+ FICO!

Postby The Tomorrows » Thu Nov 11, 2010 11:22 pm

This is seriously unbelievable! The Gander Mountain credit card is denying those that have a credit score that is too higher!

I shop at the Gander Mountain store all the freakin time and decided I should get the Gander Mountain Mastercard b/c it gives 2% at GM stores and I go online to find it and the first thing I see is a newspaper article about a Gander Mountain credit card lawsuit. The bank that issues the credit cards is denying approval for 800+ FICO scores b/c not enough money is being made off that group.

http://tcbmag.blogs.com/daily_developments/2010/06/gander-mountain-sues-credit-card-provider.html

****I wnat to make clear that Gander Mountain is not the one doing this messed up policy. it is their credit card provider. That is why Gander Mountain stores are suing the provider***

Low scores can be discriminated against but would this be a violation of a law for discriminating against high scores?

If there is any new updates about this please post it b/c my score is around 800 and I desperately want to apply for the Gander Mountain credit card.

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JL70
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Postby JL70 » Fri Nov 12, 2010 12:21 pm

Any lender can deny/approve at their discretion. If someone's policy "discriminates" against low scores, why someone couldn't "discriminate" against high scores? They are free to do business with whoever they want to. Of course this is only my opinion.

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Cucumber
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Postby Cucumber » Fri Nov 12, 2010 3:36 pm

That is messed up big time but it is what it is.

Why do you want the Gander Mountain Mastercard so much if it only gives 2% at Gander Mountain. Are there other perks that come with it :confused:



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