How long do credit card companies keep details of failed applications?

fieldmouse10

Hello,

I'm new here. Lots of interesting information. I wondered how long credit card companies keep details of failed applications and if they cross-reference them with new applications? Where i work we have lots of public information but because of the data protection act (i think) records are deleted after 6 months.

Has anyone got any idea?

YorkshireBoy

At least 6 years, and very possibly forever!

Fruit_and_Nut_Case

This list gives recommended waiting times before reapplying. Egg card is shown as 12 months which implies that they keep records at least that long.

withabix

YorkshireBoy wrote: »

At least 6 years, and very possibly forever!

The 'possibly forever' bit is unlikely - have you ever tried to obtain personal data from such companies after more than 6 years?

YorkshireBoy

withabix wrote: »

The 'possibly forever' bit is unlikely - have you ever tried to obtain personal data from such companies after more than 6 years?

No I haven't, but as far as I know there's no requirement under the DPA that data should be deleted after 6 years, although the 5th principle says it shouldn't be kept for longer than "is necessary".

fieldmouse10

Thank-you for the replies. I was declined about 1 & 3/4 years ago for 2 of the 'sub-prime' cards. it is a very long story but I had exceptionally bad credit linked to the previous address i was in when I applied for these 2 cards which is now sorted out. My new address has no financial or address links (i have checked the credit files) to my old address & as I have been at this address for over 4 years & show as being able to vote here the credit file is cleanish with no bad history (again a very long story as to why I have 2 addresses ). It seems from the link kindly posted that most companies keep details for a maximium of one year. Thank you for your help.

chexum

Just to note- the stoozing database is not exactly clear that the waiting time is for new applications after a decline or applications after closing the account with them. It would make sense to me for this to be two different times.

I seem to remember learning small details from these forums (so no hard reference), that lenders should not use any information they can just "find" about you - they can only use those that are provided by you, and those that you have been told. Typically, these should be common:

- Anything you specify on the application
- CRA/anti-fraud databases (nhunter)
- Any data they hold about you if you are, or have been a customer - _this_ is expiring after 6 years.

Since many of them automatically reject applications if you have been declined in the last 6 months, regardless of your circumstances, it doesn't make any sense to keep other information than your full name, dob, and address history. Based on the guidelines, it's all they need to verify they need to auto-decline you.

My hunch says that they are not allowed to cross-reference with old data if you have never been accepted.

izools

The AVU (Applications Verification Unit) at RBS Group advised me they keep details of prior applications for five years.

DEBTMONKEY1A

Have PM'D you.

stclair

Application data is cross referenced thats part of the N Hunters role in any application process.

PNPSUKNET

dont nhunter only keep it for 12 months...