Great Credit Rating But Declined Anyway

[Anonymous]

Has this happened to anyone, and if so, any thoughts on how to fight this?  Some background: I have an Experian score of 797.  I make an excellent salary and am the primary wage earner.  Back in 1994, I ran into credit problems and filed Chp 13, which was satisfied in full in 1998.  Since that time I've purchased and paid off 2 yrs early a car loan, have obtained 3 different mortgages without using substandard loans, and pay my credit card bills. I got remarried in 2003.  He was unemployed from 2003 until very recently, Sept 2009 (that's a different story).  When we moved for my job, we bought a new house, and opened a number of new accounts with BofA. Along with those new accounts came credit cards.  The balances are paid off in full each month.

I found out a week ago that my spouse named me on these cards as an Authorized User rather than a joint card holder.  So, while that means I'm not responsible for balances, we don't have any.  I am being told that the good payment history doesn't get attributed to my credit as an Authorized User, even though it's my salary paying the bills.  So, I applied for a Visa card via Fidelity (with whom I have an IRA, 401k, brokerage accounts, etc.). 

I was contacted by FIA Card Services, who is - evidently - the credit card issuer for Fidelity's cards.  After answering a 1,000 questions, I was told I was approved.  Later that evening, while sitting at the airport to catch a flight, I was called by a hugely rude individual basically decided to rescind the approval. He at first told me I had bad credit until I told him I was looking right at my Experian score.  Then he pulled up some other bogus reasons, including the bk that was discharged satisfactorily and in full back in 1998 - 12 yrs ago.  On top of that, he was incredibly rude. When I called Fidelity, they basically said that they couldn't help me, that the issue could be escalated internally to senior management but senior management wouldn't respond, and that despite that they advertise as Fidelity, and get some fee percentage back from FIA for the "Fidelity" card, they took absolutely no responsibility.  I told them that I would pull my accounts from them (except for the 1 401k because that's through my employer). That didn't seem to matter.

So basically, I'm a professional woman over 40 with a great salary and a great score, have come a long way from some problems I had, and yet here I stand.

My questions are:

Anyone else run into this type of situation or heard of this situation?

Any suggestions on how to get redress for this?

Thanks!

[Anonymous]

You may, if you decide to, have yourself added as joint account holder to the existing Bank of America accounts.  BoA is one of those that you can do this.  And since your credit is good, it shouldn't be an issue to add you to an account that all ready exists.

Later you and your spouse can decide how to divide up the BoA accounts (if multiple) and request to have one of you removed leaving each of you as the primary solely on various accounts.  So if you have 2 existing BoA accounts, add yourself as joint to the one you would like to be primary on.  In 6 months request to have your spouse removed.  As long as your credit is good, they should allow you to do so.

This way you will inherit the entire TL history on that account.  And you may each be AU on each other's accounts.

AU does help your credit as far as FICO is concerned.

[Anonymous]

Thanks for your response.  I understand from BoA that I have to get my spouse's permission to do this.  Any suggestions if he refuses?

[wmarat]

1. My life would have been miserable for a while if I had refused to my DW.

2. Forget about BOA/FIA, they have huge mental problems right now and in urgent need of psychiatric help.

3. You indeed need spouse's permission to convert your status to join cardholder and see #1.

4. You still have variety of financial institutions which would sencerely glad to have you business (including checking, brokerage and any other accounts)

I would recommend:

1. PenFed for credit card

2. Addison Avenue FCU, Affinity FCU, USAA, Lake Michigan CU - for banking (offer good on line banking, some with eDeposit, lovely CSR's)

I would not recommend

1. BOA

2. Chase

3. HSBC

4. Barclay

5. Alliant FCU

Good Luck

[Creditaddict]

my question is is your bk showing on your report after 12 years? how is Bank of America even know about it?

I agree Bank of America/FIA is mental right now, I would pick a bank that isn't in it's own bankruptcy practically, they are a complete mess and taking it out on there good customers.

go to USBANK, they have been sound through this whole economic mess 

[Anonymous]

I have never had a score below 680 and now my score is a tad over 800.  I was recently denied a credit card.  It may be because I already have two? (no balances).  Great salary and no debt.  I don't even have a mortgage.  Still denied.

But, I'm not worried about it.  Their loss.

[Anonymous]

I would close all accounts and like the wmarat said move your business to a credit union,

[Anonymous]

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@Anonymous wrote:
I would close all accounts and like the wmarat said move your business to a credit union,

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We work with two cu's - love 'em.  But don't shoot yourself in the foot - FICO wants you to have at least one bank/national CC revolving account (can be CC, LOC, overdraft).  So find at least one account in that category that you keep happy.

[Anonymous]

Thank you very much for your reply.  In fact my bk is long off my record.  Evidently, they looked as far back as 15 yrs and saw a gap in time and deduced that I had at one time a problem.  The person from FIA who contacted me was really very unprofessional.  Ultimately, I told him that some day, he would find himself in a similar situation and that I hoped he remembered how he treats others.  None of us is perfect.

[Anonymous]

Thanks very much; great advice re the FICO scores.  I appreciate it!