AmEx application declined - based on outdated information?

RichL74

Russ:-

Say you lent your mate £2000 a year ago right and he never paid you back. Say you rang him every month asking for the money but every time he never answered the phone. Say you sent him letters but he never replied.

One day he comes knocking on your door 'alright Russ, sorry I never paid you your two grand back, but I was just wondering, was a long time ago now mate, is there any chance I could borrow another thousand off you?'

Now, what would you do / say?

Your answer is EXACTLY what AMEX are doing to you. You cannot blame them for being like a elephant and never forgetting that you shafted them over before. You can't hold a grudge, it is you in the wrong not them.

Eonel

russmacdonald wrote: »

Other lenders have to use the information available from the CRAs within the last six years to make their credit decisions. I guess I will stick with them.

Other lenders may also refuse you credit if they were included in your IVA. You should try to approach lenders you have not previouly used as they will only see a six year history.

Experian_company_representative

Lenders are also bound by the Data Protection Act in terms of how they collect, process and retain personal data. They certainly can't keep these records forever!

James Jones

RichL74

Maybe James however if you defaulted with a company in the past, say even ten years ago, I dont think they will forget you should you be silly enough to apply to them again.

Perhaps they dont keep records of credit searches but I reckon they would keep their own records forever if you defaulted on them regardless of whether it stays on your personal credit record for six years, the lenders will keep their own naughty list - and they would never confirm this as they to would hide behind the data protection act.

Savvy_Money

To respond to James - as long as your alive and the data is still relevant the DPA does not specify a timeframe for the storage of Data (medical records are covered by the DPA and people can live for a long time). The DPA does however allow individuals to access data held about them. Therefore AMEX can keep data on you for past mistakes.