Denial Letter Requirements

[Anonymous]

What exactly are the requirements for a rejection/denial of credit letter. If you have been denied credit, does the credit company require you be sent a letter explaining reasons behind the denial.

is there a time limit to within which time a letter must be sent out to the applicant? do you have any recourse if you have received no letter either by email or by USPS mail from denial. Its been more than 30 days since denial and i have recon and was told that it was based on my credit score but I have nothing in writing from the Credit Card company regarding it.

Can the hard inquiry be removed based on that information.  

[Revelate]

No; I'm nowhere close to an expert on this side but I'll attempt to answer it.

There's not much required for a denial letter: yes they are supposed to send you one, yes if they used a credit report to base their decision on they're supposed to furnish which bureau such that you can request it, and they're supposed to tell you your score if they calculated one.  I haven't done this but if you were denied you may be able to request your free credit report from the bureau I suspect without any supporting documentation, especially as this process does break down sometimes.

That said, they get lost or perhaps not sent all the time.  Isn't a big deal, and while there may be some recourse it's probably not worth the hassle honestly.  Can call and complain but that'll be as far as it goes, the fact you did apply means the HP was not recorded in error, they're under no requirement to remove it.