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Regular Contributor
damet
Posts: 104
Registered: ‎09-24-2008
0

CITI denied....recon...

Just thought I'd share my experience and some information. First off my EQ score is 697 and TU 727. No lates and baddies, and I had around 27% util. So I decided to apply for a CITI forward card, and I was denied. So I decided to call for a recon since I already took the hit. Asked to speak to a supervisor since everyone else will just read your denial word for word. I got to speak with the credit&operations manager. He was a nice guy and explained to me that they don't really rely on the FICO scores, instead they rely on an internal scoring system which is similiar. Apparently you need to have a internal score of above 0 to be qualified. So i guess i had a negative number, although he said he couldn't reveal that number to me. The reason that I didnt reach a 0 was becuase of my age of accounts. It was kind of interesting because he explained they don't look at the average age of accounts, instead they use a weighted calculation method on accounts with older accounts weighting more and newer account having a negative number. Anyways, I asked if there was anyway to reconsider my app, and he said that CITI at the moment does not allow any reconsiderations. Yah, so that sucks. Might be nothing new, but just thought I'd share. Guess I'll go cry in a corner now :smileysad:
Contributor
lphelps
Posts: 89
Registered: ‎06-29-2009
0

Re: CITI denied....recon...

What is your AAOA?

 

I'm not even at 697 yet and they gave me a card.. no fuss (its a piece of **bleep** high APR card, but a card)

 

for comparisons sake here is my info

 

Length of Credit History: 9 Years, 0 Months
Average Account Age: 4 Years, 6 Months 

7/16/09 - EQ 684, TU 691

7/25/09 - EQ 682 (-2) 7th INQ did it.
8/21/09 - EQ 684 Bounced back from the Inq even though none expired. There was a new credit account opened on the same day. *shrug*
10/23/09 - EQ 691
Regular Contributor
damet
Posts: 104
Registered: ‎09-24-2008
0

Re: CITI denied....recon...

My AAOA was 1 year and 12 months...and my oldest card is 3 years.
Valued Member
uaflyer
Posts: 55
Registered: ‎09-26-2008
0

Re: CITI denied....recon...

[ Edited ]

The best approach is to call them and ask what you need to do to qualify in the future.

Asking for the supervisor right away sets of a potentially hostile call.

All credit grantors reconsider when addressed in writing or on the phone.
you must have called after hours and spoken to India.  Call during normal business hours.

Just call them back again and speak with someone else.

 

Maybe let them know you are getting credit counseling. (like this forum)

This forum is credit counseling and potentially more effective since it is a social one.

 

Offer up like reducing credit limits elsewhere or even getting a prepaid card to build up again.

 

By Law, Banks and Credit institutions are required to educate customers and help you avoid problems.

Most likely any kind of interest in learning and changing will reflect positively and on the phone they can enter this in your record.

This, an internal record they are required to maintain for anyone applying for credit.

 

Cheers

 

 

 

Message Edited by uaflyer on 09-17-2009 02:00 AM
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