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New Contributor
Posts: 55
Registered: ‎10-28-2012
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Do CC issuers need to provide CR/Score if you are approved?

I got the paperwork from Citi regarding my CL, APR and terms and conditions etc, but I can't find anywhere in the document that it mentions anything about my credit score/report. Normally when I have app'd for other cards they send me a page talking about what 'negatives' I had on my CR and the score they used.

 

I know the CARD act required CC issuers to give you all this information if they denied you based off something in your CR, but do they still have to give it if you are approved?

PNC Points Visa $3.3k (5/09), Amex PRG NPSP (9/10), Amex BCP $19.7k (10/12), Chase Amazon $4.8k (10/12), Citi Forward $7.5k (11/12), Chase Southwest RR Premier $8k (3/13), Discover it $4.3k (11/13), Citi Double Cash $18k (PC'd 9/16 from AA Executive 7/15), Chase CSR $12.2k (9/16)
Frequent Contributor
Posts: 346
Registered: ‎02-01-2012
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Re: Do CC issuers need to provide CR/Score if you are approved?

Yes, they are required to issue you the reasons if you didn't get the best/favorable terms to the card. For example, if the card apr ranges from 13.9%-22.9% and they give you 20% they must tell you the score/reasons you didn't get the 13.9%. If you get the 13.9% they aren't required as there is no reason...since you got the best possible rate. 

Valued Contributor
Posts: 2,528
Registered: ‎11-11-2010
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Re: Do CC issuers need to provide CR/Score if you are approved?


CC365 wrote:

Yes, they are required to issue you the reasons if you didn't get the best/favorable terms to the card. For example, if the card apr ranges from 13.9%-22.9% and they give you 20% they must tell you the score/reasons you didn't get the 13.9%. If you get the 13.9% they aren't required as there is no reason...since you got the best possible rate. 


Only if the reason for not getting a better term is because of credit score. For example, if you get 16.99% APR instead and it is due to you burned them in the past, then they are not required to give you a credit score.

 

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
New Contributor
Posts: 55
Registered: ‎10-28-2012
0

Re: Do CC issuers need to provide CR/Score if you are approved?

Ah okay. I see. Thanks for explaining it.

 

I guess because I got the "best" APR for the card (which surprises me a little given that they denied me before I recon'd... seriously it's like Citi is schizophrenic) they don't need to provide me with the CR/score. Oh well... not a big deal, just irkes my curiousity.

PNC Points Visa $3.3k (5/09), Amex PRG NPSP (9/10), Amex BCP $19.7k (10/12), Chase Amazon $4.8k (10/12), Citi Forward $7.5k (11/12), Chase Southwest RR Premier $8k (3/13), Discover it $4.3k (11/13), Citi Double Cash $18k (PC'd 9/16 from AA Executive 7/15), Chase CSR $12.2k (9/16)
Frequent Contributor
Posts: 346
Registered: ‎02-01-2012
0

Re: Do CC issuers need to provide CR/Score if you are approved?

[ Edited ]

trumpet-205 wrote:

CC365 wrote:

Yes, they are required to issue you the reasons if you didn't get the best/favorable terms to the card. For example, if the card apr ranges from 13.9%-22.9% and they give you 20% they must tell you the score/reasons you didn't get the 13.9%. If you get the 13.9% they aren't required as there is no reason...since you got the best possible rate. 


Only if the reason for not getting a better term is because of credit score. For example, if you get 16.99% APR instead and it is due to you burned them in the past, then they are not required to give you a credit score.

 


I have also seen banks list reasons beyond just the score. This would be under the factors of possible factors damaging your credit score. Some banks do this just to cover themselves even more with the language the law was written in. 

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