What does this mean and how can It

Discussion in 'Credit Talk' started by SilentBob, Sep 30, 2002.

  1. SilentBob

    SilentBob Well-Known Member

    Applied online for a Cpu. Citibank turned me down and gave reasons.

    1.Proportion of revol balance to credit limit too high.
    This one I understand. I.E maxed out card.

    this is the one I dont understand.

    3.Credit utilization rate/Bank.
    Isnt this similar to the first reason?

    The 3rd reason oldest bank revol account not open long enough. I've got two credit card that turn two years old this month. How long do most banks want/need?

    Also anyone ever talk to a real person and get them to reconsider? This was a real sweet system I was looking at

    Thanks

    "Every passing monent is a chance to turn it all around"
     
  2. hkolln

    hkolln Well-Known Member

    That's ok, I've gotten denied because they state I have a pulic record or judgement on my report. I have had NO such thing EVER! So, I guess they don't want to give me credit and I'm still trying to figure out who's credit report they did pull?!! LOL
     
  3. SilentBob

    SilentBob Well-Known Member

    bump
     
  4. racer7949

    racer7949 Well-Known Member


    Here is another interesting Citi denial reason from another thread:

    I've read more and more about CCC's looking at transaction patterns as much as payment patterns. Over the last few years we've come to accept that high balance ratios are negative, even with a perfect payment record. That's a FICO reason. No balances seems to be a reason that comes from a profitability score, they don't want you if they can't make money from interest charges, irrespective of your perfect CR.

    I suspect Credit Utilization rate/Bank refers to your pattern of charging; the manner, rather than the amount (as in the first reason). Something about your charging pattern may violate one of the rules in their bankruptcy screen or some other filter--even if you have a perfect payment record and perfectly reasonable, rational and financially sound reasons for charging that way, they don't care.
     

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