Question
I'm trying to get the United Airlines Mileage Plus VISA card, but keep getting a declined application letter in the mail.
I had some past credit problems about 10+ years ago, but they've been resolved and as far as I know, they're supposed to have been removed from my credit report after 7 years. I've built up good credit now (FICO is 780+).
So, why is my UA Mileage Plus VISA application getting declined, with my past credit problems from over 10+ years ago cited as the reason for declining my application?
What are my other options for earning UA Mileage Plus miles with a credit card?
Answer
Have you checked credit reports with the 3 leading agencies? Maybe one of them is holding back.
Answer
I would go get all 3 scores from myfico.com. Then, go to planetfeedback.com and send Chase a complaint, and reasons why they should reconsider. Give them updated scores, and explain the problems were over 10 yeas ago. Bet you a cold beer they give you the card about 2 weeks later.
Answer
Q. How long does information appear on my report?
A. A credit reporting agency stores information from credit grantors and public records, including bankruptcies, judgments and liens. Potentially negative information, such as missed payments and most public record items remain on a personal credit report for 7 years, with the exception of Chapters 7, 11 and 12 bankruptcies, which remain for 10 years, and unpaid tax liens, which remain for 15 years. A paid tax lien will remain for 7 years. Positive information may remain on a report indefinitely. Paid closed accounts generally display for 10 years. Requests for your credit history remain on your personal credit report for 2 years.
http://www.experian.com/disputes/basics/faq.html#long
Answer
Thanks for the replies.
The bankruptcy I had was discharged over 12 years ago. One of my credit cards lets me view my FICO credit score online. The latest report is from TransUnion. I just checked, my score is 777 as of November 2005.
I didn't order the package of credit scores from myfico, it's a little pricey. I think there's a government website that lets you get your credit report once a year for free. Here's the government website info with links
Government FTC free annual credit report (http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htm)
I just sent the complaint to Chase Bank via the planetfeedback website. Thanks for the link. Hope I get a favorable response so I can owe ya that beer.
EDIT: Ooops! I sent the complaint to Chase Bank, when it should have gone to First USA Bank. I dunno how I got the two confused for the UA Mileage Plus VISA credit card. Well, both banks are on notice now!
EDIT 2: I downloaded my 3 free credit reports from the government website for Experian, Equifax, and TransUnion. All three report that I am in good standing with all my accounts, and I have zero -0- negative reports of accounts, and the bankruptcy from 12 years ago does not appear. I think First USA Bank is keeping a separate file on my past credit history, they may have been one of my previous banks listed in my bankruptcy. Question is, can they do this? Can they keep internal historical records of past bankruptcy accounts and use this internal information as a basis to deny credit?
Answer
For information, JP Morgan Chase now owns the former "First USA" and "Bank One", both of which were volume credit card issuers.
dennis
Answer
Near as I can tell, the Fair Credit Reporting Act does not apply to internal records. I did find this transcript of an online conference (http://community.lawyers.com/chat/chat.asp?chatId=769) which seems to directly address your situation...
hBert3: "Can a bank hold a bankruptcy against you 10 years after it was satisfied and discharged? I applied for a HELOC and was turned down, not because of my credit report (beacon 754), but because they had their own records."
Michael D. Siegel: "A bank need not lend to you. The bankruptcy is on your credit report and impacts your FICO score for 10 years. However, there can be other reasons for turning you down."
hBert3: "they previously gave me a heloc and that was paid off."
Michael D. Siegel: "The bank must tell you why you were denied credit. Did they? THey must do so in writing."
hBert3: "they blamed it on their own internal records about the bankruptcy"
Michael D. Siegel: "That makes no sense to me either. They can deny you based on the bankruptcy, but not bad records. Talk to a local lawyer. SOmething is not right."
hBert3: "they claim in 1992 they did not get paid off completely under chapter 13"
hBert3: "I have two other banks wanting to loan the same amount -"
Michael D. Siegel: "They can deny you because you stiffed them before. Go to another lender. If they are holding a grudge, there is nothing you can do about it."
Michael D. Siegel: "They cannot get the old money, but are not required to lend to you again"
Answer
Thanks for the replies.
The bankruptcy I had was discharged over 12 years ago. One of my credit cards lets me view my FICO credit score online. The latest report is from TransUnion. I just checked, my score is 777 as of November 2005.
I didn't order the package of credit scores from myfico, it's a little pricey. I think there's a government website that lets you get your credit report once a year for free. Here's the government website info with links
Government FTC free annual credit report (http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htm)
I just sent the complaint to Chase Bank via the planetfeedback website. Thanks for the link. Hope I get a favorable response so I can owe ya that beer.
EDIT: Ooops! I sent the complaint to Chase Bank, when it should have gone to First USA Bank. I dunno how I got the two confused for the UA Mileage Plus VISA credit card. Well, both banks are on notice now!
EDIT 2: I downloaded my 3 free credit reports from the government website for Experian, Equifax, and TransUnion. All three report that I am in good standing with all my accounts, and I have zero -0- negative reports of accounts, and the bankruptcy from 12 years ago does not appear. I think First USA Bank is keeping a separate file on my past credit history, they may have been one of my previous banks listed in my bankruptcy. Question is, can they do this? Can they keep internal historical records of past bankruptcy accounts and use this internal information as a basis to deny credit?
Hi
Im surprised that you did not get the United Visa card.
I would contact Chase and find out the in detail why you were declined and then send an appeal letter.
What also could be a factor is if you had a First USA or Chase account that was discharged with your BK. My friend had a similar with Amex. He had to pay off the past unpaid balance before he would be approved for an Amex card.
Answer
For information, JP Morgan Chase now owns the former "First USA" and "Bank One", both of which were volume credit card issuers.
dennis
BankOne bought First USA about 3 years ago. BankOne bought JP Morgan Chase almost 2 years ago. However, since JP Morgan Chase is a bigger NY based bank, BankOne decided to drop the name of BankOne and keep the name of JP Morgan Chase for the final company. When you go to First USA card website, while the URL is First USA, Chase and BankOne logos are displayed one at the right and one at the left. Ever since BankOne bought Chase, the mediocre service from Chase went from bad to worse. Now they dont even have their statement printed on the paper with colored logos. Now it is printed on cheap paper all black and white, just like the inkjet product at home.
Similar to NationsBank bought BankofAmerica but decided to keep BankofAmerica and dropped NationsBank name.
BofA has switched to plain paper looking ATM receipts after NationsBank bought it. But at least the statement is still printed on decent paper, with minimal colored logo.
Answer
<<BankOne bought JP Morgan Chase almost 2 years ago>>
The financial press uniformly reported that JP Morgan acquired BankOne. See, for example, Business Week (http://www.businessweek.com/investor/content/jan2004/pi20040114_4113_pi017.htm) , SNL Financial (http://www.snl.com/bank/manda/20040114.asp), but it is probably most accurate to say that they "merged" (http://www.jpmorganchase.com/cm/cs?pagename=Chase/Href&urlname=jpmc/about/press/2004-01-14merger) . The important thing, for the original poster, is to understand that today these three credit card issuers are one and the same.
dennis
Answer
The important thing, for the original poster, is to understand that today these three credit card issuers are one and the same.[/B]
dennis
And it has been that way for at least 18 months.
I dont go by the general financial publication such as the magazines and newspaper. I trade stocks and I follow their activities. The deal is structured as if Chase bought BankOne but it really is the other way round in many ways.
It is actually viewed by WS as a personal vendetta of the BankOne CEO Jamie Dimon, who was passed for a big promo at Citi years back. He went to BankOne and eventually built BankOne to the size now is bigger than Citi, after it merged with Chase. Chase has a more prestige brandname, especially internationally. Chase has been an antiquated behemoth and BankOne has streamlined lots of Chase operation.
It is just some interesting tidbits.