Denied Citi Thank You

[wreith]

Got my letter in the mail today, was wanting to see my score, they pulled both EX and EQ.  There is no score on the letter the only reason for denial is Too many recently opened accounts were recorded on your credit bureau report.  Since that was the only reason for denial do they not need to include the score?  Do you think I should go for a recon?  I have opened up quite a few accounts in the past 4 months.  2 USAA cards, Lowes, Discover, Chase, Macy's, Care Credit and Smart Connect.  If I go for the recon what are my odds of getting the card?

[Wolf3]

The reason for decline did not involve any score.    So they do not have to give you one.   

I would wait 6 months until my new acounts have aged and try again.

[cashnocredit]

If you are denied, they don't have to provide a score. Only when you app and don't get the best tier of interest rates on cards with multiple levels of interest rates (so called risk pricing) are they required to provide a score.

[wreith]

Thanks, was curious because when I was denied Amex I was given my EX score, so I just figured any denial would have a score with it.

[emptypockets]

I believe that any denial, or adverse action by a creditor based on your credit report should require them to send them your score. The score may come in a separate envelope.

[trumpet-205]

Law only mandates credit score when you are approved but not getting the best term. A denial won't get you a credit score, but does allow you to pull credit report used in the decision for free.

[improvingmycredit]

I humbly disagree. As of July 21, 2011: Lurking in the shadows of the QM and QRM provisions of Dodd-Frank Act is a revision of the Fair Credit Reporting Act adverse action notice requirements. Section 1100F of Dodd-Frank amended Section 615 of FCRA (15 U.S.C. 1681m) to require creditors to include information about the applicants’ credit score(s) in the adverse action notice (Statement of Credit Denial) and in Risk Based Pricing Disclosures. The deadline for implementing the change in these disclosures is July 21, 2011, the first anniversary of the Act.

[improvingmycredit]

It should be noted however that the score provided does not have to be a FICO score but a "score" used to determine eligibility. It could be a Plus/Vantage/etc...provided and the creditor would be in compliance.

[Wolf3]

If they used a score (whatever kind), they have to disclose it.   In this case, the reason was based on info in CR which does not invovle a score.   Presumably, they did not generate a score, or they are in violation.  

[cashnocredit]

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@improvingmycredit wrote:
It should be noted however that the score provided does not have to be a FICO score but a "score" used to determine eligibility. It could be a Plus/Vantage/etc...provided and the creditor would be in compliance.

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That is correct and I was wrong that credit score disclosure is only required for risk based T&Cs.  The final F&D rules require creditors to provide a credit score when declined for reasons of the credit score however there is a big exception. A  “proprietary score" credit score that includes factors, beyond those found in credit reports such as income, do not have to be reported.

http://www.smartcredit.com/blog/2011/07/22/free-credit-scores-thanks-to-dodd-frank-consumer-protecti...