Q: Does a credit card company have to provide credit denial explanation in detail, and in writing when requested?
I applied for a credit card with a company that had closed my account previously during COVID 19. One of the reasons for denial on the denial letter stated I was denied because I did not meet that company expectations for account usage on a previous account. I requested they explain what activity they were referring to in detail. They responded back that they could not provide, in writing, the answer to that question and I must call them if I needed further assistance with that matter. Is that legal? My previous account was closed or at least I thought was closed when I requested payment assistance because I lost my job during COVID 19 and they cancelled me before I ever was late. Do they have to explain the account activity they are referring to in writing? I feel my previous account was closed for illegal reasoning. Can I have anything done about the negative report with my previous account on my credit report?
A: No, it does not have to provide you detailed reasoning in writing.
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