denied credit for invalid reason

[mt2va]

Long story short as I'm still on my credit repair journey but I had occasion recently to open a new checking account & as part of that account I guess they automatically extend LOC for overdraft which I knew I would never be approved for & I wasn't.

However, the denial letter confuses me. They said they used EQ & I was turned down due to collection accounts & public records. And then they listed some other vague excuse about past delinquent accounts.

Now here is where I'm very confused as I know sometimes they have very generic/weird turn downs but EQ is currently my best report of the 3 CRA. I've gotten the most stuff wiped off of it & currently as of 2 days ago there were NO collections & NO public records showing on this at all. So why would they use that as a denial & where would they have gotten that information?

This goes back to a question I asked in another thread. If they are pulling my CR & getting a FICO score then they may not be getting the most current version of my report because the last 2 times I pulled FICO scores & got a CR with the score my report showed info that was not even on my CR with the actual CRA anymore. Why are they so far behind in updating & how can I make sure that people are seeing the correct current info & getting an accurate FICO?

[Anonymous]

Do you ever pull a report from EQ that has information on it that doesn't normally?

Do the reports from FICO just contain the wrong information or the right and wrong information?

[mt2va]

The reports I pull directly from EQ are always correct & up to date.  If I've disputed something & they say they deleted it if I pull a report it is gone off there. 

I did pull a 3-in-1 report awhile back to get a FAKO (or maybe it was a FICO for EQ) & the info on there was way out of date as it still had everything from back when I first started my credit repair journey (almost 2 months ago)  I find the actual CRA seems to be the most up to date (which makes sense) but it makes me wonder though because if potential creditors are not getting the up to date version then my cleaning up my CR is not doing any good. 

And this recent turn down prompted me to pull yet another copy of EQ as I knew that stuff had been deleted some time ago & it is not on my EQ report yet the bank is saying they turned me down for overdraft protection based on this info & if I had any questions to contact EQ.  Well EQ won't be of much help since that information is actually not on my CR.

So my other concern is if this inaccurate info is on my CR when creditors pull my CR & get my FICO score it may be lower than it should be if its not current & up to date. 

[Anonymous]

Was the 3-n-1 from EQ? And it had out of date information on it?

Every report you pull from FICO has out of date information on it?

I'm leaning towards a split file, but I'm not 100% sure. Maybe someone else can chime in with something.

[Anonymous]

If you still have the denial letter, can you reprint *exactly* what it says? 

With regard to the bank where you opened the new account, did you previously have a banking/borrowing relationship with them? Or, did you respond to a direct mailing or a "pre-approved" offer?

Who did you pull the 3-in-1 from? Some give you "unlimited" access to your reports, but you're only really getting updated reports quarterly, for example.

One possibility (although I think it unlikely) is that the bank previously (recently) softed you (before the baddies fell off), and used that report/information to open the checking account and deny the LOC. Do you have an INQ from the bank that aligns to the date that you opened the checking account?

You also mentioned that you have no PRs or collections, but do you have any lates or charge-offs still showing?

Message Edited by LilMirth on 04-18-2009 03:33 PM

[haulingthescoreup]

When it comes to original reports vs 3-in-1 reports, lenders pull directly from the reports that are maintained by the bureaus. Also, your FICO scores are calculated from these full reports, so even if there's an error on the FICO score report, it won't affect your score, as long as the full report was correct.

I know that CreditSecure does not always show the most current info that's on the underlying full reports, which does tick me off.