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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
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Re: IF denied, creditor MUST provide Bureau used and Score used right?


olderwiser3 wrote:

Driving and smoking habits aside, this thread did contain a useful nugget of info for newbs like myself - that being that they don't have to furnish the score.  I was under the (now I know false) impression that they did, since they would have pulled that info along with the specifics that went into creating it.  Sounds like a potential end-around move though to avoid furnishing that info.  It's a concern because before you know it many companies might be claiming that they didn't use the score and therefore stop telling you what it is.  Just my $0.02.


 

The people who would want to prevent you getting free scores are the credit bureaus, not the credit card issuers.  I don't think they have much motiviation not to give you the score, just choose not to when they don't have to.

Established Contributor
FloridaState12
Posts: 614
Registered: ‎08-24-2011
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Re: IF denied, creditor MUST provide Bureau used and Score used right?


youngandcreditwrthy wrote:

hahah all of my clis have been softs, and they haven't had access to know what lines are getting increased...

 

I mean... having eight credit cards alone puts you at higher risk for bankruptcy...

but I have $100k+ in unused credit...

 

they didn't deny me for that.

 

simply for "too many recently opened accounts"

 

for the millionth time.... I havent opened an account in more than 90 days! in 180 days, I've opened four accounts.. I mean... maybe that is high, but I haven't used them! lol

 

Citi is Chiti... oh boy, if I finally get this thing approved... I'm going to e-slap you people telling me no more credit! Jeez... this is a forum about credit and the improvement therein.. don't tell me no more credit when you have ten cards yourself, bud ;-)

haha

 

:-) Best to all!


And clearly something in their risk model is raising a red flag on your account. Who knows what exactly they use, but whatever predictors or variables they impliment are clearly correct in your case. You keep asking and getting more and more credit and banks see you as riskier and riskier. Maybe it's just a coincidence that they're denying you while you're on a mad dash for credit, or maybe their risk model is doing exactly what it's supposed to be doing. I don't blame Citi one bit for denying you credit as I would do the same. 

 

I actually have 11 cards, but thanks for taking an interest in me. I'm not the one madly gobbling up credit left and right then whining like a little girl when someone finally cuts me off. 

 

If Citi ends up approving you I'm not so sure why you're going to "e-slap" anyone. Just because you get granted more credit doesn't mean you needed it to begin with, and it doesn't mean you deserve it, either. If Citi wants to approve you or uphold their denial it's entirely up to them as it's their business and their risk. 

 

Keep begging for credit using your convulted income numbers....don't be surprised if it comes back to bite you later.

 

I'll see you in the rebuilding forums in a few years, buddy. :smileyvery-happy:

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Senior Contributor
youngandcreditwrthy
Posts: 6,229
Registered: ‎08-16-2012
0

Re: IF denied, creditor MUST provide Bureau used and Score used right?

haha this isn't a place to bash people; it's a place to learn :-)

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
cashnocredit
Posts: 1,024
Registered: ‎07-18-2009
0

Re: IF denied, creditor MUST provide Bureau used and Score used right?


FloridaState12 wrote:

youngandcreditwrthy wrote:

hahah all of my clis have been softs, and they haven't had access to know what lines are getting increased...

 

I mean... having eight credit cards alone puts you at higher risk for bankruptcy...

but I have $100k+ in unused credit...

 

they didn't deny me for that.

 

simply for "too many recently opened accounts"

 

for the millionth time.... I havent opened an account in more than 90 days! in 180 days, I've opened four accounts.. I mean... maybe that is high, but I haven't used them! lol

 

Citi is Chiti... oh boy, if I finally get this thing approved... I'm going to e-slap you people telling me no more credit! Jeez... this is a forum about credit and the improvement therein.. don't tell me no more credit when you have ten cards yourself, bud ;-)

haha

 

:-) Best to all!


And clearly something in their risk model is raising a red flag on your account. Who knows what exactly they use, but whatever predictors or variables they impliment are clearly correct in your case. You keep asking and getting more and more credit and banks see you as riskier and riskier. Maybe it's just a coincidence that they're denying you while you're on a mad dash for credit, or maybe their risk model is doing exactly what it's supposed to be doing. I don't blame Citi one bit for denying you credit as I would do the same. 

 

I actually have 11 cards, but thanks for taking an interest in me. I'm not the one madly gobbling up credit left and right then whining like a little girl when someone finally cuts me off. 

 

If Citi ends up approving you I'm not so sure why you're going to "e-slap" anyone. Just because you get granted more credit doesn't mean you needed it to begin with, and it doesn't mean you deserve it, either. If Citi wants to approve you or uphold their denial it's entirely up to them as it's their business and their risk. 

 

Keep begging for credit using your convulted income numbers....don't be surprised if it comes back to bite you later.

 

I'll see you in the rebuilding forums in a few years, buddy. :smileyvery-happy:


youngandcreditwrthy,
It's possible you may be setting off Citi's anti-fraud flags. If you read some of the banking analytics blog entries at fico.com, MyFico's parent, you will see much discussion about fraud prevention. A fairly significant component of CC loss is due to original creditor fraud. This is where a consumer adds a lot of credit then maxes everything and goes bye-bye. While it is small in numbers of people that do it, it's a big chunk of their total CC losses. That you acquired 4 cards in the last 6 months and haven't used them may very well correlate with fraudster patterns. By no means is this a sure, or even likely thing but the losses are so large that if the stats show more than a percent or two risk of original fraud they are likelt to just take a pass. Too many "new accounts" would likely be the biggest component of such a risk and FICO scores are really not a factor in these banking analytics decisions.

 

Of course they will not say "you are declined because we think the risk you are intending fraud is too high."  Still, people are declined for that reason. I think I was declined for that reason a few years ago when I apped for a couple pre-approved cards and had a 6mo. old mortgage but didn't live at the address on the mortgage. Another kind of red flag.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Established Contributor
djrez4
Posts: 504
Registered: ‎08-28-2012
0

Re: IF denied, creditor MUST provide Bureau used and Score used right?

'Bout time some voices of reason showed up here.

Senior Contributor
youngandcreditwrthy
Posts: 6,229
Registered: ‎08-16-2012
0

Re: IF denied, creditor MUST provide Bureau used and Score used right?

thanks cashnocredit!

 

now that... is the most reasonable explanation Ive heard... even if not from the horse's(Citi's) mouth.

 

And tbh, besides the recently opened accounts... many of my accounts are four to five years old. When I was 18.. I applied for everything.... again when I was 20... so I've just been trudging along with the goal of building my credit and partaking in app sprees every couple of years before I even knew what an "app spree" was haha! Except now... I get approved haha not denied like when I was 18.. well except Citi obviously.

 

haha

thanks again :-D

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Senior Contributor
youngandcreditwrthy
Posts: 6,229
Registered: ‎08-16-2012
0

Re: IF denied, creditor MUST provide Bureau used and Score used right?

+1@djrez!

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
djrez4
Posts: 504
Registered: ‎08-28-2012
0

Re: IF denied, creditor MUST provide Bureau used and Score used right?


youngandcreditwrthy wrote:

+1@djrez!


That's not funny.

 

(Ok, maybe a little.)

Senior Contributor
youngandcreditwrthy
Posts: 6,229
Registered: ‎08-16-2012
0

Re: IF denied, creditor MUST provide Bureau used and Score used right?

hahahaah I like the +1!!!!

it's rather emphatic imo! :-P

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

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