Consumer complaint received 2023-11-02
Company: Affirm Holdings, Inc
State: NY
Product: Payday loan, title loan, personal loan, or advance loan
Sub-product: Personal line of credit
Issue: Getting a line of credit

Complaint:
I was on a website attempting to purchase a lap top and noticed they had a credit line option thru affirm so i proceeded to apply and was immediately denied and this is the document i was directed to XX/XX/23, Thank you for your interest in a loan through Affirm issued by XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, UT XXXX XXXX. Our partner bank can't approve the loan you requested because SERIOUS DELINQUENCY AND PUBLIC RECORD OR COLLECTION FILED NUMBER OF ACCOUNTS WITH DELINQUENCY TIME SINCE DELINQUENCY IS TOO RECENT OR UNKNOWN LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED Your application was processed by a credit scoring system that assigns numerical values to various factors we consider in evaluating loan applications. These numerical values are based upon analysis of the repayment histories of large numbers of customers. The information in your application did not score a sufficient number of points for approval. 

The reasons you did not score well compared to other applicants were : Credit score Historical loan delinquency Length of credit history Our decision was based in whole or in part on information obtained from the following consumer reporting agency : XXXXXXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXXXXXX, TX XXXX ( XXXX ) XXXX This consumer reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. Any questions regarding such information should be directed to the reporting agency listed above. 

We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. 

Your credit score : XXXX Date : XX/XX/23 Scores range from a low of XXXX to a high of XXXX. 

Key factors that adversely affected your credit score : SERIOUS DELINQUENCY AND PUBLIC RECORD OR COLLECTION FILED NUMBER OF ACCOUNTS WITH DELINQUENCY TIME SINCE DELINQUENCY IS TOO RECENT OR UNKNOWN LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED If you have any questions regarding your credit score, you should contact XXXX directly at ( XXXX ) XXXX. 

If you have any questions regarding this letter, you should contact us at : Affirm , Inc . 
XXXX XXXX XXXX, XXXX  XXXX XXXX, PA XXXX NOTICE : The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age ( provided the applicant has the capacity to enter into a binding contract ) ; because all or part of the applicant 's income derives from any public assistance program ; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is the Division of Depositor and Consumer Protection, National Center for Consumer and Depositor Assistance, Federal Deposit Insurance Corporation, XXXX XXXX XXXX, XXXX  # XXXX, XXXX  XXXX, MO XXXX.

Company response to consumer: Closed with explanation