Author Topic: Credit Turn Down ?  (Read 2031 times)

Balkins

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Credit Turn Down ?
« on: August 09, 2016, 12:56:55 PM »
Hi Friends,

Ok, i just called one of my credit card companies and asked for a credit increase on this little dinky card. And "they turned me down."

I have always paid them on time (citibank/citicard) and have had a relationship with them for at least 15yrs. I have never once paid late. (i suspect a hospital bill that i paid off last month, that was sent to collections may be the culprit).

HOW CAN I GET MY credit reports from the Horses mouth to see what's going on?

(i know there are companies out that help with this., but i want some advice from Credit Dudes/Girls on "the Tashe)."

Thanks very much!

~B


Dollar Slice

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Re: Credit Turn Down ?
« Reply #1 on: August 09, 2016, 01:00:21 PM »
From the FTC:

"Q: How do I order my free report?

The three nationwide credit reporting companies have set up a central website, a toll-free telephone number, and a mailing address through which you can order your free annual report.

To order, visit annualcreditreport.com, call 1-877-322-8228. Or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. Do not contact the three nationwide credit reporting companies individually. They are providing free annual credit reports only through annualcreditreport.com, 1-877-322-8228 or mailing to Annual Credit Report Request Service.

You may order your reports from each of the three nationwide credit reporting companies at the same time, or you can order your report from each of the companies one at a time. The law allows you to order one free copy of your report from each of the nationwide credit reporting companies every 12 months."

Balkins

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Re: Credit Turn Down ?
« Reply #2 on: August 09, 2016, 01:36:53 PM »
Thanks very much dollar Slice.

One has to wonder "why this company" is making this much effort to get your credit information and send it to you for free.

Everyone knows, there is no free lunch....
  • what's the catch?
  • why not order if from the bureaus directly?
~B

.
From the FTC:

"Q: How do I order my free report?

The three nationwide credit reporting companies have set up a central website, a toll-free telephone number, and a mailing address through which you can order your free annual report.

To order, visit annualcreditreport.com, call 1-877-322-8228. Or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. Do not contact the three nationwide credit reporting companies individually. They are providing free annual credit reports only through annualcreditreport.com, 1-877-322-8228 or mailing to Annual Credit Report Request Service.

You may order your reports from each of the three nationwide credit reporting companies at the same time, or you can order your report from each of the companies one at a time. The law allows you to order one free copy of your report from each of the nationwide credit reporting companies every 12 months."

Dollar Slice

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Re: Credit Turn Down ?
« Reply #3 on: August 09, 2016, 01:45:43 PM »
The website/phone number/etc. above is run by the credit bureaus, as mandated by federal law. You ARE getting it from the bureaus directly, but ordering this way is free.

mskyle

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Re: Credit Turn Down ?
« Reply #4 on: August 09, 2016, 02:20:33 PM »
The free annual credit report is good but I find that I am willing to put up with some "catches" for more convenient/frequent information.

You can get your credit report with score from CreditKarma (catch: they have tons of targeted ads for CCs and personal loans). You can get a free credit score without the full report from Discover even if you don't have a card with them (catch: they are hoping that while you're there you'll open a Discover Card). If you have an AmericanExpress or CapitalOne or Mint account you probably have access to a free credit score (maybe report) through them (and probably lots of other banks offer similar features - those are just the ones I use). I guess the catch there is that they want you to continue being their customer.

But the rejection might not have anything to do with the quality of your credit report; it might be about how you use that particular account and whether you've had any changes on the account recently. I have very solid credit but I got turned down for a credit line increase recently because I'd also changed the type of card within the last three months or something like that. A company also might not want to give you an increase if they don't think you're going to use it.

Most companies will send you written explanation for why you were turned down.

SKL-HOU

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Re: Credit Turn Down ?
« Reply #5 on: August 09, 2016, 02:34:16 PM »
You are entitled a free credit report from each of the credit bureaus annually. The website somebody listed above is the way to get it. But if you want your score you have to pay separate. Or there are lots of credit cards that give you your score for free. I have discover, Citibank, chase and Capital One that give me my score for free. Each uses a different bureau.
The other way to get your report is, I believe you are entitled to a copy of your report once you get your rejection letter. You can order it from the bureau they used within 60 days (I think).

plog

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Re: Credit Turn Down ?
« Reply #6 on: August 09, 2016, 02:47:41 PM »
Quote
(i suspect a hospital bill that i paid off last month, that was sent to collections may be the culprit).

Certainly they gave you the reason. What was the reason they gave you? 

 If it's a deliquency they are not going to specifically tell you what item, they will say "due to recent deliquencies" or some such vague answer, then they will refer you to the credit bureau.  Logically, if they say that and you only had  that 1 deliquency, well then there's your answer.

Balkins

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Re: Credit Turn Down ?
« Reply #7 on: August 09, 2016, 06:30:21 PM »
Ok...got it.

Thanks Guys!