I tried calling the number to have my app reconsidered and before I could get the words "Please Reconsider" out of my mouth, the VERY NICE rep told me that I had: 1) Credit lines too new (2 cards) 2) Too many inquiries (they want no more than 4 in the past 6 months) 3) Too many deliquent lines (11-- I asked if she was looking at my student loans, but she said that she only had numeric data, and could not see what accounts they were) I tried to explain that I wanted to BT my oldest accout (1st Premier), but she said "No way today", and advised to slow down on inquiries and to try again in 6-9 mos. Now off to check my empty mailbox.... Deb
Experian for me in NJ. Try looking at the list on www.millcbs.com to find out who they pull for your state.
Sorry to hear it Deb. Sounds like you got the same rep I did. You know what Saar says - call back and get another one. breeze
Deb, I'd recommend calling back to have them send you the letter stating the reasons (usually two) of why you were denied. The denial letter and the letter telling the reasons are two different letters. If their reasons are legitimate,then you may have a tougher time convincing by telephone than if you faxed in your request for reconsideration. You don't need permission to fax in a request, but you do need an application reference number (on the denial reason letter), an updated credit report (from whomever they pulled), and a really compelling story re why you should have this card. They will keep your application on file for 3 months (90 days),so if you don't have really compelling answers now, you can wait if you can get some of those objections answered . I waited nearly the full ninety days for my TU report to be updated to show a better picture (but not complete) of what they wanted to see. I had to get some accounts reflected as closed , others reflected at zero balance, and still others reflecting real credit limits (hello Cap One and high credit). Feel free to work from my example, faxed in June, if you like. Obviously your reasons are not my reasons, but maybe this can give you an idea of what reasoning worked for my approval. Citibank Credit Department FAX: 301-714-5958 FAX: 301-790-4647 Re: Application Reference Number XXXXXXXXX your name your address your social security number account password chosen at the time of application Dear Sir or Madam, I am writing in response to a letter I received from the Citibank Credit Department, dated______ , regarding a negative credit decision for a Platinum Select MasterCard. The application reference number is xxxxxxxx. Please re-consider my application based on the following new information I have supplied in this fax. I have included a Trans Union credit report, dated ___________, as well as the most recent billing statement of an account relevant to the reasons for your credit decision. Concerning the two reasons for denial based on your letter (please find enclosed): AMOUNT OF OUTSTANDING DEBT ON BANKCARD CREDIT LINES (65% or more utilized): All of my closed revolving bankcards have zero balances, as reflected on the Trans Union credit report. All, but one, of my open revolving bankcards have balances well under 65% utilization of limits. Please refer to the Capital One billing statement for the most recent data (note to Deb: this also lets them see my hidden credit limit which lets them know I do have respectable available credit elsewhere), since that account has not been updated since April 2001. All other accounts are reflected on the Trans Union credit report. Please note that the only account that exceeds 65% utilization is the Citibank MC, which is currently in a promotional 6.9% APR balance transfer and has the high balance for the express purpose of taking advantage of the balance transfer promotion. List account list current balance list limit list ratio of balance to limit List account list current balance list limit list ratio of balance to limit List account list current balance list limit list ratio of balance to limit AMOUNT OF OUTSTANDING DEBT ON RECENTLY OPENED CREDIT LINES (24 months) All but two of the credit lines opened within the last 24 months have zero balances. The two accounts which do have balances, a student loan and a car installment, are both refinances which originally had significantly higher "high credits" from Sallie Mae and the US Dept. of Education for the student loan and Nuvell Financial for the car. By refinancing these accounts, I have significantly lowered my interest rates and lowered my overall debt obligations. Because these accounts are closed installment accounts, their balances will not go up, but will only be further reduced over time. Finally, the student loan is deferred and not included in my current monthly obligations. The car loan's most recent statement is included in the fax, since the balance on the Trans Union report is outdated. Balance High Balance (before consolidation or refinance) ratio of balance to high balance Balance High Balance (before consolidation or refinance) ratio of balance to high balance Balance High Balance (before consolidation or refinance) ratio of balance to high balance Based on the above updates, please re-evaluate my application for a Platinum Select Mastercard immediately. Thank you for your consideration. Sincerely,
I'm going to let you in on something. I applied for a citi AA card (after my first) , 3 times, over 6 months, the 3rd time it was approved. My score was 575 on the first card, and 603 on the second card approval. Keep trying, i think they need to meet quotas or something and will be generous. None of the 2 AA approvals i've gotten to date were instant, they always give me "You'll hear from us in the mail".
Sam, With these scores, did this include any major derogs or active collections? I have never applied to citibank and am stopping inquiries for now, but I am just curious. Steph
yah my first citi i had like 10 derogs. now my second i had like 2 derogs, both $0 balance. The AGE of the derogs (95/96) might have helped. Do this: dispute all of the derogs, on the report they will pull. Wait for them to go into "dispute" state, then apply online for the card Your fico will go up dramatically when all the derogs are in dispute. I only apply for credit this way.
On my reports I have between 4-5 derogs, all pretty small in monetary amounts. I am going to risk this inquiry and go for it. If I am rejected but my report gets repaired, I'll call them and plead my case. Wish me luck. Pray to the credit gods if you wish Steph
You want the standard CITI AA card: not gold not world not platinum. Just plain silver. If you get a silver, then try for a gold. I guarantee you the world and platinum have much higher requirements. Again, strongly suggest turning ALL derogs into dispute status before applying. It does make a difference. Two disqualifications as told by me: collection/Charge off less than 2 years old ( $250 or more) Any prior citibank baddies Any BK I won't suggest it, but lets say how you answer the questions, make a big difference on approval. I have 95 inquiries on my EFX, 20 in the past 6 months, and still got the card. go figure. Maybe someone up there is looking out for me.
Hmmph, they gave me this reply: As soon as your application is processed, we'll send the results to the address you submitted on your application. Is that standard? it said instant results?? Sigh. Another denial I am sure. All I can do is hope some of this crap comes off the report and plead my case to a rep. Steph
I have just posted a letter that makes legal demand upon them for full disclosure of all reasons for denial of credit.
Me too George. I even faxed my credit report to them. They first said my collections were under two years old (97, 96, and 95) and then my balance on one card was to high. Paid it down and reapplied. The rep I got this time told me no way. That any negatives disqualify me. I give. They'll never get my business now.