@OroroMunroe wrote:
If we are talking total accounts (store cards and bank cards), I've applied for maybe 20 or so in the past two years. I'm wondering how this issue will be resolved. Will I lose the new account? Will I lose my old accounts? The whole thing has me concerned. I also wonder about their definition of excessive. What does it matter if a person pays the bills?
I'm going to assume that if the new account shows "closed" on your reports due to this issue with ICS, it will probably remain closed. You really need to get a hold of ICS and see if you can obstain a copy of your report from them, so that you can see what info they have about you. Because from reading on their Website, it appears that their main purpose is preventing fraud, so there is something in your file that they have that is causing concern.
Here's from there website:
- Identify consumer fields that were previously used in a fraudulent activity
- Identify risky consumer behavior
- Identify anomalies in new credit card application activity between data elements that are not visible through traditional risk tools
- Identify consumers and businesses that filed bankruptcy
- Validate Addresses and Phone Numbers
- Identify Social Security Numbers associated with people reported deceased
- Identify suspicious Addresses and Phone Numbers
ICS is supported by the Visa U.S.A. Operating Regulations, which require all Visa Issuers to report:
- All approved or declined Visa Consumer Credit Card applications
- Records for any account that has experienced unauthorized usage
- All fraudulent applications, before a loss has occurred.
