Citibank Credit Card Internal Computer Systems Statue of Limitations...

[Andy77]

To make a LONG stort short here is my issue...I had a Citi Solomon Smith Barney visa that I did a settlement with in 2001, last activity was Aug of 2002.

I opend a Citi secured card in Sept 2009 used it and it became unsecured.  However, due to the Solomon Smith Barney Visa STILL in Citi's internal system I cannot get a credit limit increase.

So, I am wriing to their legal department asking them to remove this or I will seek legal action and I cc'd their CEO 

What is the statue of limitations a corp can keep internal data on file?

[bostonte]

As long as they want to.

[Juan123]

Yea.. even though CRA's are only supposed to keep certain negative and positive information on a CR for X amount of time. i don't think that extends to financial institutions. If they're holding a grudge over past accounts thats they're prerogative...... Also maybe you should try going about it the nice way first before threatening >_<

[GregB]

I would expect it to remain permanently.

Can you define  "Statue of Limitations" [sic]?

It appears you are trying to use a legal term for a business process.

[ChesterPDexter]

Wait, you can take legal action against a company for making a decision like that?  I thought they had latitude to reject an application for any financial reason.  Also, if you settled with them, does that mean you did not repay a debt in full?  I would think at the very least you'd have to repay the full amount to get them to consider it and even then, they might say no.

I didn't realize that they would be stopped from keeping any information (financial, I mean - they can't discriminate on the basis of certain demographic data)  they want on file, for any time period, by any law.

[Andy77]

I am going to change the letter to them and merely ask....When will this old account not affect the current, open one anymore, could I please have a date.

The 10 yr mark will be in Aug of 2012 so maybe at that time

The odd thing is that Citi still gave me a 7500 CL on an AA product in 2008 and 5k checking plus credit line in 2008

Why I cannot get a 100.00 increase on this open account is odd given that I was approved for other accounts after 2001

[pizzadude]

----->   I thought they had latitude to reject an application for any financial reason

This is true.   Companies can keep any information on you for any period of time, and use it in the process of evaluating your creditworthiness.

The term SOL only applies to the period of time in which legal action can be brought against you.

[haulingthescoreup]

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@Andy77 wrote:

I am going to change the letter to them and merely ask....When will this old account not affect the current, open one anymore, could I please have a date.

The 10 yr mark will be in Aug of 2012 so maybe at that time

The odd thing is that Citi still gave me a 7500 CL on an AA product in 2008 and 5k checking plus credit line in 2008

Why I cannot get a 100.00 increase on this open account is odd given that I was approved for other accounts after 2001

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It's up to a business as to how long they blacklist someone. It has nothing to do with statute of limitations or the laws regarding credit reports or anything else.

It sounds like your card is one of those that just have an asterisk by it, possibly because it was originally a secured card.

Frankly, I'd sock-drawer the thing and enjoy the other credit products that you have.