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I'm a LL, if you know the law so well why don't you show us where we will be charged with discrimination for turning someone down that has to much credit.
I was turned down one time for a credit card because I had to much credit, not bad credit just to much, and not that I owed money I just had to much credit available to me. Was I discrimination against by the credit card company? Can I sue them? All I did was return the pre-approved application to them.
I'd really like to know because I'm in the process of re-renting a property right now.
Then you should also know that if you have too many open lines of credit, a bank may and will give you a hard time when judging whether to approve a person for a mortgage. In fact banks will tell applicants to close as many lines as they can and not to open new ones before applying for a mortgage. Credit is a liability whether you use it or not.
Too much credit, no that is not what these posts have been about. If you will read it is because the person would be turned down if they have credit cards. Sure, Stac said "a number of credit cards", but what is the "number"? Two? Three? Ten?
If a person who makes $100,000+, has 10 cards with a total credit limit of $50,000, has a "good credit rating" and has proven they have never abused their cards, is having 10 cards too many cards?
From what Stac said, then yes, it's too many. For all I know in Stac's eyes having 2 card is too many, regardless of how low the credit limits are compared to their income.
Having 10 credit cards is insane. You might think $100k is a lot but not here in New York.
Too much credit, no that is not what these posts have been about. If you will read it is because the person would be turned down if they have credit cards. Sure, Stac said "a number of credit cards", but what is the "number"? Two? Three? Ten?
If a person who makes $100,000+, has 10 cards with a total credit limit of $50,000, has a "good credit rating" and has proven they have never abused their cards, is having 10 cards too many cards?
From what Stac said, then yes, it's too many. For all I know in Stac's eyes having 2 card is too many, regardless of how low the credit limits are compared to their income.
Don't take something I wrote and take it out of context and say I said something else..I wrote about what was being talked about here and nothing more..
I suggest you go back and re-read what I wrote.
I even gave you an example of how a credit card company turned me down, not because I owed to much, but because I had to much credit that I could use if I wanted to...
Location: 23.7 million to 162 million miles North of Venus
23,563 posts, read 12,525,568 times
Reputation: 10475
Quote:
Originally Posted by Stac2007
If I see a person have too many lines of open credit he/she is a liability. I will protect my self and not rent to that person.
I had been wondering if your original post about denying people simply becuase they had credit cards was just a poorly worded post by you. From what you had posted in the quote above, I see it's not so.
Like I previously posted, do what you want. I don't care if you get sued.
I've stated my position and now I've got my chores to go do. You can continue beating this dead horse if you wish.
Then you should also know that if you have too many open lines of credit, a bank may and will give you a hard time when judging whether to approve a person for a mortgage. In fact banks will tell applicants to close as many lines as they can and not to open new ones before applying for a mortgage. Credit is a liability whether you use it or not.
berdee doesn't seem to understand all of this (what you wrote above)...LOL
I'm still waiting for him to post the law he was talking about...
Location: 23.7 million to 162 million miles North of Venus
23,563 posts, read 12,525,568 times
Reputation: 10475
Quote:
Originally Posted by Houston3
Don't take something I wrote and take it out of context and say I said something else..I wrote about what was being talked about here and nothing more..
I suggest you go back and re-read what I wrote.
I even gave you an example of how a credit card company turned me down, not because I owed to much, but because I had to much credit that I could use if I wanted to...
I'm sorry, I will re-read your post a little bit later.
It may be possible that you were denied because of your the credit limits were to close to, or succeeded, your income. (just going by what you posted in the quote above, like I said, I will re-read your first post later)
I had been wondering if your original post about denying people simply becuase they had credit cards was just a poorly worded post by you. From what you had posted in the quote above, I see it's not so.
Like I previously posted, do what you want. I don't care if you get sued.
I've stated my position and now I've got my chores to go do. You can continue beating this dead horse if you wish.
I never will. I stay within the law. Like I said I use a background service and they do their job well. I recall this one young fellow who had to show he had money in his account as part of a background check. He had a lot of credit but no money. Where was his money going? He made money but seldom had any. He was spending it faster than he could make it. Not smart. He was paying off his credit cards and the same time wasting money. Will people ever learn? He was a sure liability.
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