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adverse action notice for a credit card?

I applied online for a credit card last week and today I recieved an adverse action notice. I guess that means they wont let me get a credit card despite me having over $40,000 in money on the account. Should I just switch banks?

2 Answers

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  • Reena
    Lv 7
    8 years ago

    And what would that accomplish?

    Banks give credit to people with a steady income. Just having money in the bank means little to the bank. You can simply apply with another credit card issuer and see what they say or you could read that letter carefully because somewhere in there... it tells you why exactly they said no to this deal.

  • Anonymous
    8 years ago

    Before you do any switching, you should request your yearly free credit report. For online. go to annualcreditreport.com for all 3 reports. By mail, call Trans Union toll free @ 1-877-322-8228 for all 3 reports. You should receive them within the next 10 business days. If there is something on the report you'll not aware of, dispute it. They have 30 days to respond or it comes off.

    Source(s): Retired bill collector 35 years
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