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My last credit card usage was back in 2009, so....


stormie
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Ever since my I won my cases against Midland Funding and Citibank back in 2012, I have been doing well in the sense that I never needed credit for anything.  I received a promotion, and basically lived on my own cash, not having to live paycheck to paycheck.  (I was glad as I developed somewhat of a Post Traumatic Stress Disorder PTSD from all the suing)

Anyways, recently, I pulled up my credit report, and I have zero debt, and nothing shows up at all from my past with the credit card mess that I had incurred due to my divorce.

Long story short, I decided to test my credit by applying for a computer loan at an Apple store, but my loan was denied.   The letter in the mail read that although my FICO score is 762, that there is, "insufficient credit history" to make a decision.  Everything from my past had dropped off of my credit report as it's been more than seven years.

However, I later applied to rent an apartment in NYC, and they ran up my credit, and I was given a lease to sign.  The managing company had no problem at all with the "insufficient credit history"  (The rent is a bit more than 2K a month)

Now, I want to apply for a small vehicle loan, which is only about 10K - but I am afraid the dealer will give me the same response as the computer store.

What do you guys think - do you think I'll get it or not?  Also, how do I fix this, "insufficient credit history" if no one will lend out to me?    I also tried to get reinstated with AMEX, but no cigar.  A denial letter. 

So why would a landlord not have a problem but these smaller companies would?  The computer would have costed me about 2K. 

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4 hours ago, stormie said:

So why would a landlord not have a problem but these smaller companies would?

Your FICO score is not one score but composed of different models depending on the type of credit you are applying for.  There is the bank card sucker score which determines if you get approved for credit lines (like an Apple Store card), then there is the the auto FICO which determines your rate on a car loan, your insurance score, and last your score for a mortgage.

Rental score does not necessarily rely on a FICO score as much as a rental history.  No evictions and no negative reporting means a clear path to leasing.

FYI:  Apple is NOT a smaller company.

4 hours ago, stormie said:

What do you guys think - do you think I'll get it or not?

You will get a car loan.  What the bigger question is, is what interest rate would you get.  The one time I recommend going to myfico.com and paying for your FICO scores (you will get all of them) is when you are going to make a major purchase such as a house or car.  Then you know what the lenders will see from a FICO perspective and what your negotiating power is.  

When I bought my Toyota 2 years ago I knew walking in I had tier 1 credit and had all the leverage for the lowest price on the car and not only did I get that but 0% financing.  Knowledge is power.

4 hours ago, stormie said:

 I also tried to get reinstated with AMEX, but no cigar.  A denial letter. 

AMEX (as well as CHASE and CITI) black list if you have burned them in the past.  Could be 10 years or more before they consider giving you credit again if ever.

4 hours ago, stormie said:

Also, how do I fix this, "insufficient credit history" if no one will lend out to me?

The Apple purchase was actually a store credit card.  The denial is because you do not have any positive credit lines for cards reporting.  You need one or two small credit lines reporting so that you show a history of paying on revolving unsecured debt.

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