Denied credit card app - "Serious Delinquency" but no late payments, ever

[Anonymous]

Hello,

I was recently denied credit through an application for a travel rewards card with Wells Fargo. The reason code came back with "Serious Delinquency", but I have never missed a payment or had any C/O of any kind. I called WF recon and was not given any useful information other than that they used the FICO 8 model in scoring my application and got my CR through Equifax. I got my full CR through Equifax and confirmed that there is no potentially negative information anywhere on my report. I called into Equfax Customer Service and they confirmed the same - nothing potentially negative. After 3 phone calls with WF, they are still unable to tell me what accounts or specific factors are generating the "Serious Delinquency" flag. 

Has anyone had this happen before? I have no idea what is going on and I'm generally pretty credit-savvy.

Edit:

For clarification, I have ordered my full EQ CR through myfico.com and also my free annual report through annualcreditreport.com. EQ FICO 9 is showing the same "Serious Delinquency" flag, so I suspect the rep who I spoke with at WF incorrectly told me they were using FICO 8 and were instead using FICO 9. I have filed a complaint with the CFPB.

[Anonymous]

Similar post but this OP had a settlement: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Equifax-serious-delinquency/td-p/4950372

2014: http://ficoforums.myfico.com/t5/General-Credit-Topics/quot-Serious-Delinquency-quot-but-perfect-cred...

2009: http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Shiny-clean-reports-but-quot-serious-deli...

Seems to be an EQ issue, and maybe TU as well.

Did you ever CO Wells Fargo (bank account, credit or loan) in your past even if it fell off the CRs?

[Anonymous]

Yeah, I would think something like this could very well be pointing to past history, not your current credit report.  Perhaps you had a negative account with WF at some point and they are referencing it.  I had a CFA years back that at the time I didn't even realize was through WF.

[Anonymous]

I've never had any accounts with WF before, nor have I ever been an authorized user with one. 

[Anonymous]

Any criminal history?  Equifax does have secondary reporting for things like that, separate from their standard consumer credit report.  I know there are some big banks that pull secondary reports as well, and those reports can include criminal history.  Also if you're on the OFAC list, or if your application phone number is a forwarding service, etc.

[Anonymous]

Found two more posts on this topic with Equifax:

• http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Serious-Delinquency-triggered-by-Payment-Arra...
• http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Wildly-inconsistant-scores-what-next/td-p...

No answers or solutions in either of these.

One thing more: do you currently have a court ordered payment for child support or is your paycheck garnished even if it isn't on your reports?

In a situation like this, I would write to the CPFB and FTC and include documentation including your denial letter (copy) and most recent paper report (copy) to show that you were denied credit based on faulty information provided by the credit bureau or misinterpreted by the creditor.

Would also help if you posted your current FICO 8 from Equifax.

[Anonymous]

I have no criminal history whatsoever and have never had my paychecks garnished for any reason.

I just ordered my CR from EQ on myfico and it DOES say:

FICO Score 9  - You have a serious delinquency (60 days past due or greater) or derogatory indicator on your credit report), but shows 100% on time payments. What is going on here???

[Anonymous]

Order your free EQ paper report that you get by law when denied credit.  Look over EACH full tradeline for anything fishy.  Maybe a positive account is reported as negative somewhere - settled payment, not paid in full, late pay, etc.

Online reports don't show the full picture.  PAPER reports do.

[Anonymous]

One more thread regarding Wells Fargo and FICO Score 9 and this issue from 2017: http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Error-in-FICO-score/td-p/5060242

Maybe you have a "split file" with Equifax.  Or a "mixed file" -- are you a Junior or a "Third" with a similar name to someone else?

I would honestly get that paper report direct from Equifax.  And if it's clean, hire a credit lawyer on contingency to sue the pants off of them for violating federal law by reporting a lie.

[Anonymous]

Even the full CR from annualcreditreport.com does not show the full picture?

I am now concerned that my creditors will run a soft pull, see the delinquency flag and close my accounts. I want a resolution soon but am afraid this will be a long process...