I applied for a Citi card and was declined so I called the number on the rejection letter. According to the rep, I was not using enough of my credit lines. The magic number is 55% utilization. She told me to get the number closer to 55 and based upon my report, I would be approved. I laughed because AMEX just turned me down because I was using too much of my credit (36%).
Say what ? You got declined by Citi because you weren't using enough of your available credit ? Did I read that correctly ? Sheeesh...if that is correct, I'd definitely look somewhere else for a credit card. T
I think what you heard is probably true. When Citi increased my CL from $15,000 to $22,000+, it was when I was at 50% utilization.
They are required to send you a letter explaining why they declined you. If your letter says what you said above I wonder if I wouldn't try and include that in a 100 word statement. The rediculosity ( new word ) of such should be available for future creditors to let them know why you were declined. LOL
Say if my utilization was 89% (cause of student loans in deferrment), I would probably get turned down? I was just getting ready to apply for Citi. Sirrowan
Sirrowan: I think you wouold be turned down based on my experience. When my utililization went up above 80%, I tried the Citi BDD and got turned down immediately for both cards. Score was about 680 at the time. This is with a perfect payment history. They don't want too high of a utilization.
That's really weird! I just got approved (8/26/02) for a Citi card and according to EX, I have only 19% available credit! I just applied for a second Citi card this past Friday and approved for that one too! That makes no sense at all! mysti_summer
I just got turned down for Citi (Gold) because I have one paid charge off showing up. All my other credit lines are positive. I called the denial line and she told me that I should apply after the charge off comes off the report (its scheduled to stay on the report till 2007). Does anyone know which credit cards will pull TU (only) and approve of a credit report with a paid charge off listed?
I have a Citibank card, they won't increase my limit OR approve me for other products because of the same reason. I was approved for a Chase card, and they pulled TU.
That's strange. I have a Cap One MC with a $6,000 limit. My balance has been over $5,000 for months. A few weeks ago, Citi approved me for a $5K Illumina card and a $1K Universal card within days of each other. It sounds like they don't want customers who pay their balances off each month...they don't make any money that way!!
Doesn't sound strange ... we've heard before that Citi uses a profitability score ... perhaps the utilization factor is a biggie in that formula.
I'm at 67% utilized (some creditors haven't updated since June), I just applied for a Citi card and it said, thanks for applying we will notify you of the results at the address provided. Good? Bad?
