Age Discrimination in credit decision?

[ddaniels01]

My 24 yo son who has no credit has applied jointly with his 81 yo grandmother who has a FICO score of over 800. She paid cash for her last two cars, but her credit history shows paying off a mortgage and multiple credit cards, and she has a credit line of $16500 at a bank. She has zero debt and sufficient income. She owns her $350,000 home free and clear and has multiple investments in CD's, etc... in short she is very comfortable and has never been denied credit in her life. Now they have been turned down by 2 banks. Could this be age discrimination?

 

[ddaniels01]

If so, what can I do about it?

 

[presutin]

The answer to your questions is no and there is nothing you can do about it. With the credit crunch going on right now, financial institutions are very weary when it comes to lending money no matter how good a credit history one has. Has your son recently checked his credit report to see if there is anything negative there? That would be a good place to start.