Credit Cards Center Credit cards from our partners
Reply
Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
0

Re: Citi Closed My Account... WTF??

IRS did not provide those to them. I do not think they did not notice my other accounts, they soft pull you when they do a FR and they were able to see my accounts 4 months ago

Senior Contributor
Posts: 4,834
Registered: ‎04-20-2007
0

Re: Citi Closed My Account... WTF??

 


Lexa wrote:

IRS did not provide those to them. I do not think they did not notice my other accounts, they soft pull you when they do a FR and they were able to see my accounts 4 months ago


IRS isn't going to send anything to anyone other than you or your representative.

 

Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
0

Re: Citi Closed My Account... WTF??

No, this is not true. There is a form, I think it is called 4610T that they can ask you to sign in order to request the info from IRS. But this is not the case here. Just got off from the phone with like 3 of their supervisors, they told me that the amount of available credit I have is too high... since when 80k is too high to own a Citi card? I know people who have 3 times more and they have multiple Citi cards... WTF?

Do you know of any number to call directly to their executive team?

Moderator Emeritus
Posts: 17,409
Registered: ‎07-14-2009
0

Re: Citi Closed My Account... WTF??

 


Lexa wrote:

No, this is not true. There is a form, I think it is called 4610T that they can ask you to sign in order to request the info from IRS. But this is not the case here. Just got off from the phone with like 3 of their supervisors, they told me that the amount of available credit I have is too high... since when 80k is too high to own a Citi card? I know people who have 3 times more and they have multiple Citi cards... WTF?

Do you know of any number to call directly to their executive team?


 

About 2 years ago BoA closed a $26,500 LOC I had with zero balance because they decided I had "enough credit". It doesn't seem right that CCC's do this but that's the way of the credit world right now. I decided to fight other battles. If you want to pursue this then more power to you but perhaps it's time to move on to companies who seem to want your business.

 

Just my 2 cents.

 

 

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
0

Re: Citi Closed My Account... WTF??

26500 closed before the crunch... wow. I still do not get why they are doing that and then keep on lying to you over the phone

Established Contributor
Posts: 720
Registered: ‎05-04-2007
0

Re: Citi Closed My Account... WTF??

4506T is the form, commonly used in the mortgage loan process, also requested by AmEx during some financial reviews. It is out of character for Citi.

 

BOA and Citi are in the worst shape of the large banks. In order to improve their balance sheets, they have been reducing their overall total credit limits methodically for the past 1.5 years.

 

This AA was probably a combination of that and a routine review that flagged the multiple recent accounts. It's not unusual for banks these days to approve an account and then close it down 6 months or a year later using stricter criteria, even though the negatives hadn't changed since the account was opened. Paranoia is still rampant ...

Moderator Emeritus
Posts: 16,381
Registered: ‎03-12-2007
0

Re: Citi Closed My Account... WTF??

 


Lexa wrote:

26500 closed before the crunch... wow. I still do not get why they are doing that and then keep on lying to you over the phone


I agree with MarineVietVet! And, I also had a 26,500 LOC with BoA closed in 2009. They demanded that I keep drawing on it and I said: "I don't need the money, so NO!" If CITI or any other creditor doesn't want to do business with you, forget about them. Move on, there a lots of other fish in the sea. You decide who you want to do business, its not the other way around.Smiley Happy

 

Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Frequent Contributor
Posts: 456
Registered: ‎07-09-2008
0

Re: Citi Closed My Account... WTF??

 


Lel wrote:

When you first opened this account, your credit report that Citi used to approve your CC didn't have those 3 other new accounts yet.  They probably did a routine check of your credit report and saw all those new accounts and became alarmed that you suddenly had a lot of new credit.  Having all those AUs probably didn't help either - after all, it just increases the number of people who could run up the balance on your card, regardless of the actual pattern of use that you've demonstrated.

 

When you said that nobody responded to Citi's requests for your income tax records, are you saying that the IRS failed to provide the information, or that you didn't comply with Citi's request?


 

+1.  Lexa, this sucks having your card closed, but take a look at the scenario.

 

  In a short period of time, you:

 

* aggressively added credit (4 new lines) in a recessionary credit-decreasing environment.

* added an extreme number of AUs to the account, when most would only add 1 or maybe 2.

* were subjected to a Financial Review by Citi which failed to complete. 

 

Any one of the above might cause scrutiny.  All 3 combined?  You probably scared the TARP pants off of them!  IMHO the combination of the above sunk your account.  I don't think their "too much available credit" excuse has anything to do with it.  It's just a lame excuse.

 

Again, very sorry for your credit card closing.  If it were me, I would view this as a warning shot across the credit bow.  Slow down and consolidate your winnings (age your new credit).  Good luck!

Frequent Contributor
Posts: 306
Registered: ‎12-30-2008
0

Re: Citi Closed My Account... WTF??

Thank you, guys. Just got of from the phone with their Vice President. They will not reopen the account. Whatever. Can you sugges a couple of solid banks to deal with (not the CUs for personal reasons). I have CCs with US BANK, Ameriprise, Elan, NavyFed and Macy's. Thinking of BBVA Compass and PNC and Nationwide right now... Looking for more solid and "predictible" banks than CIti

Regular Contributor
Posts: 193
Registered: ‎07-13-2008
0

Re: Citi Closed My Account... WTF??


Lexa wrote:

Thank you, guys. Just got of from the phone with their Vice President. They will not reopen the account. Whatever. Can you sugges a couple of solid banks to deal with (not the CUs for personal reasons). I have CCs with US BANK, Ameriprise, Elan, NavyFed and Macy's. Thinking of BBVA Compass and PNC and Nationwide right now... Looking for more solid and "predictible" banks than CIti


You may need to look in another country then.

CI

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.