Citi Costco Visa DENIED!

[Anonymous]

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@Anonymous wrote:
It's your FAULT; your approval was the first one I saw, LOL just kidding, but it really was. Congrats on your approval. Yes Citi has always been hard for me, they finally gave me a DC in January with a good APR,
So I can't complain.

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Yes, I found Citi hard to break into. It took me from 2001 to 2009 to receive an approval so I share your feelings. They also held me down for three years before opening more card opportunities. Overall, it seems as though some lenders like a person's credit profile and others don't and there are some we can't get into at all.

[Anonymous]

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@CreditMagic7 wrote:

As difficult as it can seem to be at first, even nesting on those new accounts for only 6 months can make a world of difference.

Been around this very same corner before myself and am still astonished with results of gardening just that little bit.

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I think creditmagic hit it on the head.. gardening is always a good thing. Apply for cards you REALLY want for the long term. 

[Anonymous]

Thanks for your reply. Question what is EO and cli?

[Anonymous]

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@Anonymous wrote:

I applied a week ago and was denied. When I went to apply I knew my FICO score was 744 so I figured I was in like flint. I did the on the spot application and got a form that said call their customer sevice number.  I called the same day and they said I was denied and would get a letter. I got the letter today. The reason was " your total credit obligations, which include outstanding credit lines, are too high to meet our approval guidelines, when compared to your stated income". That is a suprise to me and here is why. My income is $74,000 per year. My current credit card delbt is only $9000 total so I calculate my debt to inc ratio as 12%. Ins't that pretty low? Is it possible that they are that picky? I don't get that al all. Any response is welcome.

Thanks

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I believe Citi is a very conservative lender. I had a credit score in the low 700's at one point, and a card with a $7,800 limit, and they gave me a whooping $1,500 and haven't increased it since. 

[Anonymous]

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@Anonymous wrote:

Thanks for your reply. Question what is EO and cli?

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EO = Executive Offices and cli = credit line/limit increases

[credit_endurance]

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@Anonymous wrote:

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@Anonymous wrote:

I applied a week ago and was denied. When I went to apply I knew my FICO score was 744 so I figured I was in like flint. I did the on the spot application and got a form that said call their customer sevice number.  I called the same day and they said I was denied and would get a letter. I got the letter today. The reason was " your total credit obligations, which include outstanding credit lines, are too high to meet our approval guidelines, when compared to your stated income". That is a suprise to me and here is why. My income is $74,000 per year. My current credit card delbt is only $9000 total so I calculate my debt to inc ratio as 12%. Ins't that pretty low? Is it possible that they are that picky? I don't get that al all. Any response is welcome.

Thanks

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I believe Citi is a very conservative lender. I had a credit score in the low 700's at one point, and a card with a $7,800 limit, and they gave me a whooping $1,500 and haven't increased it since. 

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Which bureau does Citi DC pull for CLI's?

[Scupra]

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@Anonymous wrote:

Thanks for your reply. Question what is EO and cli?

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http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/td-p/88458

Welcome to the forums

[Anonymous]

Citi is like Chase when it comes to inquiries ...I have a citi Dimond card i was pre-approved for but after that, they have shut me down!   EQ 725 EX 730 TU 740

[csryang]

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@Anonymous wrote:

Citi is like Chase when it comes to inquiries ...I have a citi Dimond card i was pre-approved for but after that, they have shut me down!   EQ 725 EX 730 TU 740

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From my personal experience and what I have seen, Chase is way more flexible in turns of inquiries!  

My most recent application put me at 6-8 inqiuries the past 6 months. I applied for Citi on my second app and was instantly denied. I applied for Chase on my last app and it went to pending and later approved by moving credits from other card = my 8th or 9th Chase card... I just dont get how Chase likes me more than Citi...

[csryang]

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@Anonymous wrote:
I woke up this morning and saw all the approvals and decided to pull the trigger. The wheel spun for about a minute then boom denied. Oh well, I've been very active since April; 7 new accounts. I wasn't surprised and not upset as I didn't need it, I just wanted it. I won't recon and just eat the HP.

This was my first loan denial in about two years ( 3 cli's denied within the last 7 months). So I know it's time to give it a rest for a couple of years, I'll try again Fathers Day 2018.

Here's some data points for those interested: EX-706, 15 inquiries on EX, AAoA-4.3 yrs, 6% util. Two 30 days lates from 2.9 years old and oh yeah 7 new accounts since 4/16.

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Yeah I dont think you are missing out much on Citi. Once instantly denied. It's nearly impossible to turn that into an approval. 

You could try recon through a Citi branch or EO