Reply
Established Contributor
stan_the_man
Posts: 855
Registered: ‎06-29-2010

Best Available Terms

If you don't receive the best available terms, are they required to tell you why? For example, if you received a higher interest rate.

 

I'm pretty sure they have to give you a credit score, if one was pulled. I know you can request a copy of your credit report for free, but I'm not sure if the issuing bank is required to tell you why.

Mega Contributor
Creditaddict
Posts: 18,943
Registered: ‎10-23-2007

Re: Best Available Terms

yes, I actually just got a letter on my new PayPal MC I believe sayingn we will be sending a letter of why you did not receive our best APR... that was actually the first I had heard of it... still worthless to me, it's like why you were denied, the computer picks them... when I use to do mortgages way back when we had to send them 3 reason why we denied... well I worked for a broker, we didn't actually deny the banks we worked with did... now I understood why they were denied so I could click actually things that made sense but I had about 15 reasons to click and only needed 3! it's like auto feedback on Ebay!!! "Thanks Great Buyer, come back soon!" sure they only paid 14 days after they won auction, would I personally say good buyer? no but the system says yes based on any payment coming through!

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+