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approved for 8k later denied because of affiliate info(HELP


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I have perfect history no lates or derrogatories, scores about 650. I applied for a bunch of credit all at once, back in Oct,Nov got approved for a card for 8k but I have to do at least 5k in balance transfers which is good for me. They posted the account to all three CR. then I called them up and did all the balance transfers I gave them all my account numbers and balances, then later they told me my account was on hold in QA. I called the manager and he told me that it was on hold because of all the recent inqueries I had, which were NOT on my CR but that he was informed by other "affiliates" that I had too many, Now, I have a problem with somebody obtaining info on me from a un-verifiable or un-disputeable source (This guy was kind of a jerk BTW) He faxed me a letter asking me to verify all my info, so I did, I sent them proof of income, bank statements, SS card, DL. Then,!!! later because my score dropped to 600 they said i no longer meet thier requirements and I was denied the credit I was already approved for, even though I have an account on all three CRs Its still there now!. I am fighting mad about this and they will not get away with it I dont care about the tradeline I can easily dispute that, and its probably helping me now with a 0 bal, but I was approved fair and square soley from CR and score. and I jumped through a bunch of hoops and gave them tons of personal info and account numbers which they will probably share with thier #@$%%& affiliates. I dont care what it takes I want satisfaction. I either want the credit or somebody is gettin sued. Help me out please, I need lots of opinions and suggestions.

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I have perfect history no lates or derrogatories, scores about 650

Quite frankly, if you have a 'perfect history' and only a 650 score, then something else IS wrong... that's not very good for a real 'perfect' anything. Sounds like your utilization may be way too high or your debt to income ratio too low.

The question becomes, how 'concrete' WAS their 'approval' ??? If the it was one of those 'you're approved until we investigate' types, then you were sucked in from the start !

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If you have a sub 600 FICO with no derogs, you have one (or more) of the following:

1 high util %

2 lots of inq's

The DTI doesn't affect FICO, as income is not a part of FICO. As far as the credit line, the creditor can close the credit line anytime they want. As far as "affiliates", what bank is this and did they tell you where they got the information and was it in writing?

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I have perfect history no lates or derrogatories, scores about 650

Quite frankly, if you have a 'perfect history' and only a 650 score, then something else IS wrong... that's not very good for a real 'perfect' anything. Sounds like your utilization may be way too high or your debt to income ratio too low.

The question becomes, how 'concrete' WAS their 'approval' ??? If the it was one of those 'you're approved until we investigate' types, then you were sucked in from the start !

Thanks for the reply, I did not say everything is perfect, I said the history was perfect no derogs no late pays. The reason my scrore is as low as it is is because I have a lot of inqueries and lots of debt. I shop around a bit and i fix things on my CR. but if thier affliates keep thier own records that you never see , you could be blacklisted and not even know it. That should be illegal if it isnt already

As to how concrete? They called me told me I was approved then took all my balance transfers, gave me an account number and a limit, posted my account to my credit report, then blocked it without telling me,I called up later and said "hey wheres my card?,then sent me a fax stating the block would me removed if i verify my info as accurate,did that, the manager admitted to me on the phone that he got his info from thier affiliates and they re-pulled a CR on a soft inquery and denied me based on lower score new trades "yeah thiers!!!) and other new accounts. I argued with the guy, found out he was the guy that blocked it in the first place.

I dont believe that is fair since

1. I was credit worthy when I applied and I met the criteria.

2. I was misled, "Yes your definately approved oops just kidding"

3 My eventually denial was due to unverifiable info not on my credit report.

4. My score was surely affected by the posting of the inquery and tradeline that they added not sure how but it matters.

5. i made financial plans and decisions based on this apporoval which are now screwed up.

I just want to know, have they broken any laws by doing this? do i have a legal recourse at all? because what they did was just wrong in my book. I wil entertain any thoughts.

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If you have a sub 600 FICO with no derogs, you have one (or more) of the following:

1 high util %

2 lots of inq's

The DTI doesn't affect FICO, as income is not a part of FICO. As far as the credit line, the creditor can close the credit line anytime they want. As far as "affiliates", what bank is this and did they tell you where they got the information and was it in writing?

You are correct on you first statement.

The bank was Universal Savings Bank, was was told this by the QA manager on the phone, he did not tell me who thier affliates are. They only thing i have in writing from them is that they would remove the block once I verified my info.

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Ah, well, it is their credit line and they can close or modify it when they see fit. You can't force ANYONE to loan you money

Sure you can, if you have an agreement with someone and they do not perform you can sue for specific performance and FORCE them to perform. OR you can use leverage against them if they have broken the law. its done everyday

But my question was, Did they break any laws based on what I have described here. Is there some other recourse I can take that I am not aware of?

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Negative, an open credit line is just that- they can close it at any time. Instead of looking at forcing them to give you credit, why not spend your time trying to fix your credit?

I dont necessarily disagree with what you are saying, but I think my point is being missed, I feel like I have been treated unfairly by these people and I want satisfaction. I am looking suggestions on how to best achive that. They may be well within thier rights to deny me the credit. but the manner in which it was done, I believe was at the very least unethical. While they were holding my account hostage for 3 months I had to go through alot to satisfy thier written requirements.I dont have the time to list all that but let me tell ya, it was alot. I wanted the credit to do balance transfers for lower interest and payments so did everthing they asked. Then after all that, Willie Lump Lump the (QA Manager) said Sorry your denied! This is the same guy who blocked it in the first place. Dont forget they also posted the open account to my credit reports all this time, for the last three months.

I have read many posts on this website and many of you people have very creative ideas on how to defend the common layman and beat these crooks at thier own game. This is what this website is all about. C'mon guys/gals show me the love!

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