Denied credit card due to 'insufficient credit file'

[Anonymous]

This is just strange. I applied for a First Bank credit card a few weeks ago and finally received the result. I was denied and this was the only reason they offered:

INSUFFICIENT CREDIT FILE

They later elaborate in the letter saying that my credit score was not available from Experian.... 

Strange because I'm looking at my score and credit report from them right now! I'm going to call them on Monday, but I wanted to ask if anyone here has had this happen to them before? 

[RobertEG]

Credit score not available is not the same as credit file not available.

Do you meet all the requirements for a current FICO score, such as having at least one open account that is at least six months of age?

If you are now seeing a score, perhaps it was provided at a later date, while the creditor's inquiry was on a prior date when you did not yet qualify?

[Anonymous]

@RobertEG wrote:

Credit score not available is not the same as credit file not available.

Do you meet all the requirements for a current FICO score, such as having at least one open account that is at least six months of age?

If you are now seeing a score, perhaps it was provided at a later date, while the creditor's inquiry was on a prior date when you did not yet qualify?

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Yes. My oldest account is 12 years old. Those were the reasons I was given in the letter. I wonder if they mean that my history isn't long enough for the bank's requirements? But that still doesn't explain why they say I didn't have a credit score pulled from Experian when it's clearly there. 

[RobertEG]

In their denail letter (which the FCRA refers to as an adverse action), they were requried to inform you that you can mail a copy of the denial letter to the identified CRA within 90 days of the date of the letter, and the CRA is then required to send you a copy of your current credit report.

It wont entitle you to a score, but their adverse action will at least entitle you to a free copy of the report they used in your denial.

[DollyLama]

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@Anonymous wrote:

@RobertEG wrote:

Credit score not available is not the same as credit file not available.

Do you meet all the requirements for a current FICO score, such as having at least one open account that is at least six months of age?

If you are now seeing a score, perhaps it was provided at a later date, while the creditor's inquiry was on a prior date when you did not yet qualify?

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Yes. My oldest account is 12 years old. Those were the reasons I was given in the letter. I wonder if they mean that my history isn't long enough for the bank's requirements? But that still doesn't explain why they say I didn't have a credit score pulled from Experian when it's clearly there. 

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My husband had no FICO, but had 10 yr old credit history. But he had not 1) had any open and active accounts in the last six months of any kind, revolving or installment. I think if you might be an authorized user on an account that Experian does not factor in AU accounts? 

Someone might be able to clarify the last statement if that might apply to you. 

[Anonymous]

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@DollyLama wrote:

My husband had no FICO, but had 10 yr old credit history. But he had not 1) had any open and active accounts in the last six months of any kind, revolving or installment. I think if you might be an authorized user on an account that Experian does not factor in AU accounts? 

Someone might be able to clarify the last statement if that might apply to you. 

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My friend is thinking the same thing, but I've had a new credit card since Jan and an installment loan since last October and they were reported at the time of this credit application. The letter made it seem like they couldn't find my information at all, so I wonder if I wrote incorrect information on the application.

I'll just call them for an explanation and post what they say here just in case the same denial happens to someone else. 

[DollyLama]

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@Anonymous wrote:

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@DollyLama wrote:

My husband had no FICO, but had 10 yr old credit history. But he had not 1) had any open and active accounts in the last six months of any kind, revolving or installment. I think if you might be an authorized user on an account that Experian does not factor in AU accounts? 

Someone might be able to clarify the last statement if that might apply to you. 

---

My friend is thinking the same thing, but I've had a new credit card since Jan and an installment loan since last October and they were reported at the time of this credit application. The letter made it seem like they couldn't find my information at all, so I wonder if I wrote incorrect information on the application.

I'll just call them for an explanation and post what they say here just in case the same denial happens to someone else. 

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They might be on credit reports, but no FICO score till that installment loan hits 6 mos of history, seems depending when in Oct it reported and if they update monthly, should be scorable in April by May's reports. 

[Aduke1122]

Well are you able to see a credit score when you check it out ?

[Anonymous]

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@Aduke1122 wrote:
Well are you able to see a credit score when you check it out ?

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yeah it's 637 for experian

[CreditCuriosity]

Have any security freezes on any of your CRAs?  I recently got this same message on a Us Bank card trying for a CLI...  All my CRA's were froozen.  So I am thinking in my case they were unable to access m credit file and gave me that message as I have a pretty massive file.. Just another thought.