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I'm not trying to sound ENTITLED. I'm trying to figure out what negative information is on my file so I can correct it. If Discover won't give me a card I know it's because my credit score, inquiries, etc. They tell me why! Chase will not release that information to me.
Except that Discover won't give you that information over the phone, that information gets delivered to you in a letter 7-10 business days after the decision is made.
OP, Sorry for all your troubles. See what the letter says when you get it, and just know you may never know the real answer either.
@FinStar, your thoughts on this matter?
@pizza1 wrote:OP, Sorry for all your troubles. See what the letter says when you get it, and just know you may never know the real answer either.
@FinStar, your thoughts on this matter?
Sorry @pizza1, I just ran into this thread.
There's all kinds of possible rabbit holes given the "permanent ban" stipulation as per what the OP described.
So, at best is reviewing the contents of any correspondence they may receive or whatever may be in EWS. Another thing, besides the generic "adverse action" letter that may or may not provide specifics, an institution can legally reserve the right to not open an account, plain and simple. This could be based on any internal records from any sources (yes even banks can share information among themselves) or the premise of KYC internal policies, which even if challenged, fall in line within regulatory governance.
Were you ever given a reason OP?
So I got back the letter from Chase and received a phone call from the executive office. There's no official reason given other than they do not want my business and according to section 13 in their banking agreement they do not have to share a specific reason. I was told this repeatedly and asked her if she could even see a reason given so I know how to not "mess up in the future" and she kept stating they do not have to give a reason...
So I'm officially going the Amex route from now.
I also checked my EWS and ChexSystems reports and everything is clean on there. When I was younger I was a poker dealer and used to make significant cash deposits so maybe it got flagged for possible money laundering in there internal system. I was paid a check by a casino though so it shouldn't sound too unusual.
Thanks everyone for their input in this though.
@AnonymousMust be frustrating to be banned and they won't even give you a hint for the reason why. I'm not a fan of Chase but I regularly open Chase checking accounts for new account bonuses and never an issue, and I even included Chase CCs in my 2010 BK7 so they would never approve me for a CC.
But be careful with Amex savings, they can be touchy with numerous deposits & withdrawals. The first time I made a withdrawal for anything other than paying my Amex cards I got a call demanding to know if that bank account was personal and if I was the sole account owner. Discover, Capital One or most any credit union would be better if you plan on regular deposits & withdrawals.