I applied for a credit card and was turned down. What can I do?
The card issuer is required to give you a list of the principal reasons for its decision, or a notice telling you how to get the principal reasons. If the card issuer based its decision on information contained in your credit report, the card issuer also is required to give you a notice that includes the name, address, and telephone number of the credit reporting agency that provided the report.
If the card issuer used a credit score to make its decision, it also must provide you with the credit score it used as well as the key factors that adversely affected your score. You have a right to get a free copy of your credit report from the credit reporting agency within 60 days after you receive the notice.
If you find information in your credit report that you believe is inaccurate, you can dispute what is in the report with the credit reporting agency. The credit reporting agency is required to conduct an investigation and correct any errors it finds. If after the investigation you still believe the report to be in error, you generally have the right to have a statement added to the report stating that you dispute the information. Contact the credit reporting agency for instructions about how to add the statement to your report. You can also dispute inaccurate information in your credit report with the company that furnished the information.
Tip: If you have an issue with a company’s investigation of, or response to, your dispute, you can also submit a complaint to the CFPB online or by calling (855) 411-CFPB (2372). We’ll forward it to the company and work to get a response.
You can also submit a complaint about incorrect information on your credit report, if you believe your report was used incorrectly, if you have problems getting your report, or if you have a problem with a credit reporting service such as credit monitoring and identity protection.