Consumer complaint received 2022-03-22
Company: U.S. BANCORP
State: NY
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Getting a credit card
Sub-issue: Application denied

Complaint:
I was informed by my financial advisor that a good strategy to pay down my high interest credit card was to apply for a cash balance transfer card. I applied for a cash balance transfer with XXXX XXXX and was denied. 

She suggested I research some credit unions which might be able to supply me with a cash balance transfer so I googled some on XXXX and applied for three credit cards, all credit cards happened to be serviced by Elan Financial Services. The options available local to me were not as good as they were with the three other accounts I applied for ( XXXX, XXXX and XXXX ). Those three cards had the terms that would be best for my personal situation so I applied for them. 

I received mail that my application was denied, I called XXXX and was accused of fraudulently using a third patty broker to apply for my cards before I had a chance to provide authentication information. I asked to speak to the supervisor, who directed me to fax over additional documentation to prove my identity. I faxed my SSN, passport, Lease and bank statements. 

I didnt hear back for a few days so I called back on XXXX I was informed my documentation is illegible so I was told to email the documentation over. I emailed it over and didnt hear back, so I called on XX/XX/XXXX. 

On XX/XX/XXXX, I was informed by an XXXX representative that my application was approved and that I would receive additional information in the mail. 

On XX/XX/XXXX, I received mail from XXXX again stating they could not process my account because they were unable to verify my information. The letter was dated XX/XX/XXXX, the day after I was told my application was approved. 

When I called on XX/XX/XXXX, I was spoken very rudely to by the representative who first told me I shouldnt have emailed my information, which made me worry that my personal and confidential information was in the wrong hands. When I asked for information on why I was denied, she started to chastise me about submitting three applications for different credit unions. When I asked to speak to a Supervisor, she said the outcome will be the same and that she is unable to provide me with more information.

When I spoke with the supervisor, I asked what about my application wasnt able to validate my identity when I sent my lease, SSN and passport, he said he wasnt allowed to clarify for me. I asked if thats the case as per their internal policies that they can, he said it is. I told him it was unfair that I was initially told that I was approved and then the representative lied, he said that they are allowed to renege on a decision, I asked if that was legal and he said it was. I elaborated my situation and that I was desperate for this cash balance transfer card and he said that the conversation wasnt going anywhere and hung up on me. 

I understand the risk flags were waved for my application, but my identity authentication information along with my bank statements were all authentic. They did not want to establish credit for me and I feel it was race motivated. I was spoken to extremely rudely when I was trying my best to be polite.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation