After initiating an application for a new US Bank card, I was subsequently declined for the following reasons:
1) Length of consumer credit history (due to an AOR done less than 12 months ago) 2) Consumer credit delinquency history
2 is what is odd, I monitor credit on all three major bureau's and do not have any late payments. The letter said they used Experian to pull my credit.
Now this is where it gets weird, a day later I receive an additional letter from US Bank stating:
"You have recently received a notice of Adverse Action advising of the reasons for denial as well as the credit bureau agencies utilized to make the decision regarding your application.
We regret to inform you the credit bureau agency(s) included on your previous letter are incomplete. The additional credit bureau agencies that played a role in the decision of your application are as follows:
IDA, Inc, Consumer Assistance Center, P.O. Box 503793, San Diego, CA 92150, Ph: 866-361-7984 Advanced Resolution Services, Inc, 6111 Oak Tree Blvd, Ste 400, Independence, OH 44131, Ph: 800-392-8911"
Upon further research, IDA, Inc appears to be ID Analytics, Inc. A corporation search in CA only showed "IDA, Inc" as filed in 2003, and suspended so I do not know why they are using that name. ID Analytics however is a Delaware corporation, operating in San Diego, filed in 2002 and active.
Advanced Resolution Services appears to be ICS (Issuers Clearinghouse Service), as shown in this FW thread as well.
There wasn't much information on them so I wanted to post the topic to make people more aware, and the other names these agencies do business as. I will be ordering my reports and freezing (if possible) these companies today as I am concerned about the "delinquency history" figuring I've never been late with anything, ever.
My wife was just denied for a US Bank credit card a few weeks ago. She has 0 outstanding debt (aside from our monthly credit card usage, but even with that utilization % would be in the single digits), very few inquiries, a clean history, and a credit score in the high 700s, and we also got that IDA letter. I don't think they mentioned delinquency in our case, but I remember thinking that the reason they gave for denial sounded odd.
I recently got an AA from US Bank that was ending my 2.99% life of balance unless I close my account for reasons I still cannot explain. They said the reason was from the Transunion report they pulled and upon reviewing it there was nothing negative (but they were still reporting my nearly minimum wage college job from ten years ago as my employer).
staci86 said:You need to use that AA as the basis to pull your reports from those bureaus.
Correct. I always include a copy of the letter from the bank showing the declined request for new credit. IDA wanted everything mailed, ARS would have accepted fax although I just mailed the same requests with all enclosures to both agencies. I'll be curious to see this delinquency they're talking about.
IDA's phone number was pretty useless, I could not find a way to speak to a person, ARS on the other hand someone picked up immediately.
ilikebtmoney said:staci86 said:You need to use that AA as the basis to pull your reports from those bureaus.
Correct. I always include a copy of the letter from the bank showing the declined request for new credit. IDA wanted everything mailed, ARS would have accepted fax although I just mailed the same requests with all enclosures to both agencies. I'll be curious to see this delinquency they're talking about.
IDA's phone number was pretty useless, I could not find a way to speak to a person, ARS on the other hand someone picked up immediately.They rarely picked up their phone for me, and are a pain to deal with.
US Bank and FNBO both utilize them for all applications.
US Bank appears to be more of a hassle than other banks possibly even more so than AMEX. They wanted to verify my SSN, a photocopy of the card would not do. They would only accept a letter from the SSA which I had to get in person. This was for a student card with a low-limit.
If these databases keep a record of all applications, do they also keep a record of their result, i.e. whether or not you were approved for the card and if not the reasons given for the denial. This could prove devastating for those of us actively seeking credit.
mewannaxbox said:US Bank appears to be more of a hassle than other banks possibly even more so than AMEX. They wanted to verify my SSN, a photocopy of the card would not do. They would only accept a letter from the SSA which I had to get in person. This was for a student card with a low-limit.
If these databases keep a record of all applications, do they also keep a record of their result, i.e. whether or not you were approved for the card and if not the reasons given for the denial. This could prove devastating for those of us actively seeking credit.
I agree, I'll be anxious to see my reports from these companies as I've done two full blown AOR's throughout the past 2.5 years, and one mini. I know my credit is good by the three major players as I just secured a mortgage on a second home with ~760 mid scores so no problem with those three.. but these two companies have me concerned.
On another note, I was thinking about Staci's response to include the letter of denial for getting my report. Under FCRA would these new bureau's also fall under the same laws that they must provide us with a free annual copy of our reports upon request? Or does that only apply to the three major's?
Message edited by: ilikebtmoney on 2009-08-31 13:49:58 CDT
Thanks, OP, for posting on this topic. ID Analytics seems to be yet another hurdle for us to overcome in our quest for free credit (arbitrage, bonuses, etc). I am particularly interested in discovering what your report says with regard to delinquency history. Perhaps a utility bill or something?
mewannaxbox said:If these databases keep a record of all applications, do they also keep a record of their result, i.e. whether or not you were approved for the card and if not the reasons given for the denial...In my experience, ARS/ICS keeps a record of SOME denials.
ilikebtmoney said:...Under FCRA would these new bureau's also fall under the same laws that they must provide us with a free annual copy of our reports upon request? Or does that only apply to the three major's?EugeneV said "proof of adverse action is not required in order to request the report."
In my experience (only with ARS/ICS), you can order a report at will (free of charge).
In the OP of the archived thread it was stated "ICS...based on inquiries per ADDRESS, which kills a tag-team AOR"...
That statement is true but it is important to note that the ARS/ICS report is pulled based on SSN and address in tandem (see para #2 of what value does ICS offer me?)
I have never heard of these organizations. But in light of their existence, I suppose it is a good idea to keep a record of the specifics of what you put on each application from now on. Just in case you were to accidentally inflate your earnings on one application and not on another. If they identify a discrepancy they may require proof of income, etc. which most places don't ask for currently. Not that any of you would inflate your earnings though! lol
Never a utility bill or anything, I handle all the bills here at home. Although if they're tracking by address my wife did miss a payment once on a CC (but caught it within 30 days so it wasn't reported as late to a major bureau). That's the only thing I can think of.. so time will tell.
FWIW, my score was 401 (low risk). I thought that with 100+ applications in the past 2 years would cause my score to be a higher risk.
I immediately opted out by sending an email with name address and phone number to myidscore-optout@idanalytics.com. Include opt-out as the subject line.
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family went 0 for 3 with US Bank on latest AORs (from last few months), and IDA/ARS was the reason given. One of us got a delinquent comment as well despite not having any payment problems, so just sounds like some BS excuse.
calling US Bank did nothing to get the stain off, even after offering to fax in supporting financial information.
the only plus was that the reports from these "agencies" didn't show new debit cards from Reward Checking accounts, even though the old AORs for 13 months+ were still showing and must have been the red flag.
I do find it ironic that places like US Bank are essentually paying an outside consultant to flag behavior, even though they could write a code much cheaper to determine if someone was a past 0% "abuser" with them or look at the credit report to see if there were inquiries from 13-24 months that would indiciate some AOR-like beahvior.
"These studies have shown that the most powerful predictor of such credit loss is application activity for a social security number (SSN) ... The most telling SSN activity threshold is 6 or more applications within 90 days. As many as 75% of accounts that hit this threshold are likely to become bankrupt or charged off."
Message edited by: xoneinax on 2009-09-01 19:37:20 CDT
"These studies have shown that the most powerful predictor of such credit loss is application activity for a social security number (SSN) ... The most telling SSN activity threshold is 6 or more applications within 90 days. As many as 75% of accounts that hit this threshold are likely to become bankrupt or charged off."
Gotta love third-party contractor BS speak. Technically, there's as much as a 75% chance I'm going to sleep with Jennifer Aniston tonight as well!
ilikebtmoney said:After initiating an application for a new US Bank card, I was subsequently declined for the following reasons:
1) Length of consumer credit history (due to an AOR done less than 12 months ago) 2) Consumer credit delinquency history
2 is what is odd, I monitor credit on all three major bureau's and do not have any late payments. The letter said they used Experian to pull my credit.
Now this is where it gets weird, a day later I receive an additional letter from US Bank stating:
"You have recently received a notice of Adverse Action advising of the reasons for denial as well as the credit bureau agencies utilized to make the decision regarding your application.
We regret to inform you the credit bureau agency(s) included on your previous letter are incomplete. The additional credit bureau agencies that played a role in the decision of your application are as follows:
IDA, Inc, Consumer Assistance Center, P.O. Box 503793, San Diego, CA 92150, Ph: 866-361-7984 Advanced Resolution Services, Inc, 6111 Oak Tree Blvd, Ste 400, Independence, OH 44131, Ph: 800-392-8911"
Upon further research, IDA, Inc appears to be ID Analytics, Inc. A corporation search in CA only showed "IDA, Inc" as filed in 2003, and suspended so I do not know why they are using that name. ID Analytics however is a Delaware corporation, operating in San Diego, filed in 2002 and active.
Advanced Resolution Services appears to be ICS (Issuers Clearinghouse Service), as shown in this FW thread as well.
There wasn't much information on them so I wanted to post the topic to make people more aware, and the other names these agencies do business as. I will be ordering my reports and freezing (if possible) these companies today as I am concerned about the "delinquency history" figuring I've never been late with anything, ever.
During my 2nd AOR (2months ago), I received the same letter and denial for my US bank application with the reasons you listed as 1) and 2).
I pulled all 3 CR before doing the 2nd AOR and confirmed that all CR information was accurate. I have 10+ years of on time, never late payments (including an existing card with US bank). At the time of applying I had zero balances on ALL of my credit cards.
I guess technically speaking "consumer credit delinquency history" does not mean you actually have been late.. just that they're not satisfied with the delinquency history. I guess they want to see a late payment? How else can they profit on you with a 0% offer!
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