These two new rules were presented to me: For approval two conditions must apply: 1. No charge offs in the past 2 years. or 2. If the chargeoff is less than 2 years old, must be < $250 This explains why they approved people with no derogs. !! Good luck folks
Re: New Citibank Approval info err i mean this is why i got approved for my citi a while back. They will consider your application if those rules above exist. Somehow, i was declined for the travelocity because i now have a charge off thats less than 2 years old (sounds like someone re-aged some #$$Q#$% on my equifax!)
Re: New Citibank Approval info Well, I guess that leaves me out then, my last charge off was in 9/99 for $394.00, thanks for the info, though, Sam. How did you get all that information? I called Citibank and they wouldn't tell me a thing!
Re: New Citibank Approval info I called the 301 # and asked why i was declined. She said I was declined solely for those two requirements, and if i can prove that i haven't had a chargeoff in 2 years, i can submit the corrected report to them, and probably would be approved. Obviously, something new has popped up on my equifax. I'm going to check out my report right now!
Re: New Citibank Approval info My charge-offs are all from 1995/6. I received a message saying my application needs further processing. As far as I understand that is a polite way to say they can't give me a card, but they look at my report as a courtesy. If I am wrong about this, I will let you guys now. Thanks
Re: New Citibank Approval info Does anyone know what the rules are if you have 2 citibank cards? Is there something different they use in their decision for a third card?
Re: New Citibank Approval info Could someone post the 301 number to check on the application status of a Citi card, Please? Thanks. Donna
Re: Thanks THE CHARGEOFFS HAVE TO BE PAID. I HAVE ONE UNPAID CHARGEOFF ON MY REPORT AND THEY WILL NOT GIVE ME A CARD. IF I DONT GET IT REMOVED BEFORE THEN IT WILL FALL OFF MAY 2002.
Re: Thanks Charge offs don't have to be paid---my husband is a great example of this. Although they are paid, his credit report shows them in duplicate and unpaid. His credit line was most generous. But, one thing to keep in mind, we have other Citi cards--tho I cannot be financed by Citi for a loan---go figure, they'll give me over 20k in credit cards but not $1000.00 for a personal loan. AnnMarie
Re: Thanks annmarie-how many citicards do you have?? i'm thinking about applying for another one just to have it combined for the higher limit.
Re: Thanks AnnMarie, Don't mean to sidetrack here, but why would you want to request a $1k loan when you have $20k in credit with them. Couldn't you just take out a cash advance? What's your daily allowance on cash advances? It couldn't be more than 3-4%..
Re: Thanks I don't need the cash (I have savings for a down payment), what I wanted was another installment loan on my credit report. I don't have a mortgage reporting, one current car loan, one past car loan and one personal loan with a student loan deferred. It was a failed attempt to build some more credit for a home loan. I have 2 cards with Citi and so does my husband--between us that's 4 accounts. Two are from 95 and classic Visas. Two are newly opened.
Re: Thanks AnnMarie, I'm not sure about the unpaid chargeoff thing. I applied to Citibank several months ago with an unpaid chargeoff that was due to fall off my report in february or march (which it has) and they still denied me. Maybe it depends on the credit specialist who is reviewing your application? I know Citi is a good company, but I had a terrible time trying to get approved. I had a bk item listed on my report that was incorrect. I had it removed and was told to fax a copy of my updated report (which I did). They then denied me for the chargeoff which was not listed in the first denial. I wrote a nice, but firm letter explaining my experience with their company. They sent me a generic letter stating they never received an updated credit report. Huh?? Where did the second denial come from? Needless to say, I will not be applying for any products or services from Citi for awhile even thought all of my credit reports are in excellent shape. I don't want to discourage anyone else, I'm just sharing my harrowing experience.
