Lucid Leasing not accepting me despite good income & previous leases/loans

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Well, I have 7 days from the day of ordering to cancel, Saturday would be the 7th day.

I manage my father’s credit cards and mine and for both, we have never had high utilization on the credit cards. The highest balance held in my father’s name was $14k on a charge card (Amex Gold) which was paid off and that was a few months ago. When it comes to my cards, my spending is very low and I never have a balance over 1k, and when I do it is usually paid off within 2 weeks.

I’ve never had an issue with any application, whether it is a credit card, mortgage, lease, or auto loan application.

I think others can guide you better on what the best deal would be for your score.

Better understanding your credit score will help you better in the long term. Based on your comments, your score should be around 800 not 730. % of credit card utilization matters, not the $ amount. Credit report / score platforms should tell you where you have room for improvement: credit card utilization, payment history, average age of accounts, number of hard inquiries etc.

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You’re credit score seems too low for a 10 year solid history.

Has the Tesla lease reported as closed yet on your credit? That’s the only other thing I could think.

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Do both of you have many open credit cards with near zero balance? If you only have 1-2 open credit cards that have a balance the utilization might look off to the bank. For example, if you have one old credit card that had a $1500 limit when you first opened it and never had it increased it might look off if you owed $800 on it. If you have $50k in open credit cards and owe $800 its a different story.

We both have a good amount open, I have about 30k in credit and he has about 50k not including the charge card across all cards.

That’s insulting. I wouldn’t spend a second more with them… the vehicle market is huge.

30k? across how many credit cards? That is low. If I open a new chase card now - it will have 20k+ limit eventhough I have 6 chase cards now (albeit those 6 chase cards have $5-7.5k limit each)

For me, across 6 cards. Each one is about 5k+ in credit limit, I don’t think I’ve asked for limit increase in the past though.

Have you taken a look at your credit report with the free annual report you can get from the government? If what you’re telling us is true what is your credit utilization and your history your score should definitely be much higher.

Methinks there’s a huge error on your report (fraud? mistaken name attribute?) that is causing a hit assuming everything you’ve said elsewise is true.

Also check to make sure your payments are correctly being documented as well when you check the report not just for errors.

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My Tesla lease never showed up on my credit report as well as one of my credit cards. I am now doing a couple more checks on it to figure out what exactly is going on.

That will do it. There’s something unusual going on with your credit history and you’ll need to spend some time on the phones with the Big 3 and have them look into it.

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Since you were declined for your Lucid/BofA lease application, you’re allowed free full credit reports from one of the bureaus.

You should soon receive an “adverse action letter” that describes which credit bureau they used. From there, you can go to the bureau(s) and request a free report.

Here’s Experian’s guide about the topic.

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That “annualcreditreport .com” website is no longer annual. It gives free weekly report on all three bureaus. You can check your reports there.