Rejected Application, due to "excessive disputes". anyone know if this is a valid reason? I'd think that being its my right do dispute info, that can't be used "against me"....
I do not think they can "discriminate" against you by denying you credit for persuing your rights under the FCRA. I will get back to yall on this.
They can discriminate against you any way they want; with the exceptions of race, religion, age, and sex. Beyond that, they don't owe you anything. Very few creditors look solely at your score. Most will look at the report itself. Be honest. Wouldn't you be suspicious of someone seeking credit who was disputing nearly everything on their credit report? I would. Understand, I've done exactly what you're talking about; sometimes successfully (GM card comes to mind), other times not (Discover, Chase, Amex, and on and on). We all know we're playing with fire as we go through the process of improving our credit. Just accept it as a lesson learned and move on.
Re: Rejected for "Excessive Dispute I agree with Quixote on this one. They still see all the negs - just in dispute.
Re: Re: Rejected for "Excessive Disputes"?? SOMEBODY HERE WAS DENIED BECAUSE THEY HAD $0.00 DUE ON ALL THEIR CREDIT CARDS!!! I WAS DENIED FOR EXCESSIVE CREDIT LINES AND EXCESSIVE INCOME (neither are F.I.C.O. reasons)
Re: Re: Re: Rejected for "Excessive Disputes"?? Well, I'll be darned! I have the perfect remedy for that...lol
Re: Re: Re: Rejected for "Excessive Disputes"?? George, I won't try to explain away or apologize for the sometimes irrational behavior of creditors. But the fact remains that within certain limits (race, sex, etc..) any business has the right to do business or not to do business with anyone it chooses for any reason whatsoever. I've never looked for it, but I'll bet that there's a sign somewhere in every Wal-Mart that says something to that effect. "No Shoes, No Shirt, No Service." Just 'cuz I said so.
Re: Re: Re: Rejected for "Excessive Disputes"?? George: That someone who was rejected for zero balances was my wife PolarisA3
Re: Re: Re: Re: Rejected for "Excessive Disputes"?? I was DENIED by PROVIDIAN a few years ago with a F.I.C.O. of 739...I GUESS THAT WAS BECAUSE WE WANT TO!?!?!?
Re: Re: Re: Re: Re: Rejected for "Excessive Disputes"?? Basically a credit card company can deny you credit as long as they do not discriminate. I realize credit is a necessity, but you do not need every credit card known to man. Thats how some of us got in trouble: Having multiple cards, some unexpected event, and boom bad credit. The reason you get denied for zero balances is because a creditor sees you havea lot of credit at your disposal and they worry you may use it all when you hit hard times and will not be able to pay it back.
I found one of my old denials for Chase and the notice on the back states: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, martial status, age (as long as the applicant as the capacity to contract); because all or part of the applicant's income derives from public assistance; or because the applicant in good faith exercised any right under the Consumer Credit Protection Act. It looks to me they cannot "discriminate" against you for disputing, but they can argue your disputes were in bad faith to get around that provision. Of course, I am assuming the FCRA and FDCPA is part of the Consumer Credit Protection Act
Re: Re: Re: Re: Re: Rejected for "Excessive Disputes"?? I guess I would call it a blessing in disguise?
Re: Re: Re: Re: Re: Rejected for "Excessive Disputes"?? If I was Providian, knowing that they specifically want people who are likely to run up their balance (incurring high interest charges), and pay their bills at the last minute (maximizing interest charges and increasing the likelihood of late fees--cha-ching), I wouldn't approve you either. You're not their target audience. Consider that a compliment.
Re: Re: Re: Re: Re: Re: Rejected for "Excessive Disputes"?? Or because they are certain you won't use it at all and thus it's a waste of their time and paperwork to have you as a customer.