@Anonymous wrote:
This whole thread is based upon the premise that the "reason for denial" they give is in fact the true reason. In my experience, they simply check at least 3 boxes as reasons for denial at random and send the letter along its way. The law requires them to give a reason, it does not require that reason to be the REAL reason. In most cases it may be something more hidden than what has been posted so far, especially some 5/24 "rule". Why do I feel this way? In my long experience with lenders I have seen many reasons for rejection that defy the facts, such as:
"Too many recent Inquiries" when the only inquiry in the credit file is their own.
"Balances too high relative to credit lines" when the total of balances reported was $0.
"Too many newly opened accounts" when the most recently opened account was opened 5 years ago.
and a lot of others. These are actual Adverse Action letters I have gotten over the years along with the facts at the time. Recon proved useless at the time. Sometimes they just don't want you as a customer for any or no reason, but the law says they have to come up with a reason. So they do - at random. I am waiting to see an adverse action letter that is truthful, giving a reason like "we just don't want to give you an account" or "we have filled our quota of new accounts this quarter" or "the sun, moon and tides are not in the proper alignment."
Well those are standard reasons you quote. I don't see number of accounts opened in last 24 months reported from other lenders who aren't quoted to have such rules. And since the Wyndham is the only card I have been declined on in a streak of over 20 card approvals I think it is more than that. And they glady instantly approved me for the business Aviator just a month before. So its not that they don't want me to be a customer.
Show me evidence of someone with 7/24 getting approved for the Arrival Plus or Wyndham in the last couple of months.
