Suppose I applied for a cc from bank XYZ a year ago and when they pulled my report it showed some baddies and I was denied a card. Now if they were to pull my report it would show nothing negative. Do they access any of the info they looked at a year ago/ as in are they allowed to keep and store bureau info from the past or does that data disappear from their files in a set amount of time?
I could speak for BOA,barclay. They don't store past info from last pull. Amex seems not to store too.
I don't think there is anything in the FCRA that would prevent them from doing this. But just as a matter of speculation, I wouldn't be surprised if EQ, EX, and TU have contractual restrictions on how long they can use the report and on not copying the data over into their own database.
They most definitely have records going back for their own data though. So if you have a chargeoff with someone, they can still have record of it even if it has aged off of your report. Not sure what they do when they agree to a GW deletion. It's possible they could keep record of it internally and simply not report it to the CRAs, but if I had to guess, for convenience of maintaining one system, they probably just delete it from their system.
Few, if any, do keep that information. I've heard many times of denials, then a few weeks later approvals after removing baddies, adding as an AU, etc...