@Anonymous wrote:Do you think that would work? I was told when I questioned their decision (and was thrown into a panic thinking something was drastically wrong with our credit all of a sudden!) that "others have called and we have pushed it up the ladder, but there is nothing that can be done. No adjustment to their decision has been made".
Anything is worth a try, I guess. What I am going to do is file a statement containing relevent information about this account if it impacts our credit negatively.
IMHO, I believe more things need to be considered in determining creditworthiness, not just your application information! Granted, 23 years ago when we opened the account, our income was significantly less than it is now. Still, 23 years after the fact, with no negative report from CITI (or Fleet who citi aquired the account from), we don't meet their criteria for continuing credit based on our credit report. I'm confused! Why doesn't FICO consider income in scoring IF the clients choose to have that considered? I realize that is a can of worms, but Mortgage companies look at your tax return when determining whether or not you're a "good risk" even though it's a "loan secured by real property that can be disposed of to settle the debt"? Or they impose "insurance" if you are a risk, or they deny you! It's that simple! (Yes I do know about the mortgage crisis, but progressive lenders were driven to secure high risk mortgages in the market) Besides CC companies write off bad debt.
Still, your suggestion has merit. I have never had an entity close an account on me, let alone one that was in good standing. I would like to be the one to close the account, not them, as I feel that would have more of a positive "ding" if that is even possible!
There are, unfortunately, no guarantees, but I think the odds are in your favor. Worst case scenario, you lose a 1/2 hour of your time and the cost of a piece of paper, an envelope and a postage stamp. And even if you don't win, you'll feel a heck of lot better after having sent them a nice, scathing and sarcastic letter. Wait ... on second thought ... leave the sarcastic and scathing out -- that only works for me. 
I had an issue with Citibank and also Bank of America not so long ago. I applied for a credit card with each of them and got the 10-day notice from hell. When the ECOA letter came they both cited the same exact reasons:
1. No mortgage showing on my credit report; and
2. Insufficient number of accounts showing a balance.
I called for a recon and they stated that they liked to see 40 - 50% of open accounts with a balance. I had 2 out of 20 showing a balance. I thought this was bogus and, if you ask me, absurd; they want me to spend more and not pay early to prove I was a good risk?
The no mortgage excuse was even more absurd. I have had several mortgages over the years and none are still owing. I had two specifically with BOA and one with Citibank that were paid off quickly. On each recon the analyst could actually see my mortgages, but said that if they are not still open they didn't consider them. Bogus!
Recon failed. Talk about pissed.
Using the name of the Citibank CEO and the e-mail address protocol used by Citibank. I sent an e-mail to the CEO. I also sent a copy via fax to the Citibank CEO and another fax to the CEO of BOA. I know people here on MyFICO.com will find this exceptionally hard to believe, but the tone of my letters were absolutely sarcastic, condescending and, simply, nasty. Basically I told them that I doubted their reasons for denial complied with the ECOA, their risk managers needed a lobotomy and thirdly, considering the class of people they were dealing with lately, they should be smooching my fat rump for remaining their customer.
Within a couple of days they called, apologized profusely and asked me, "What credit limit would you find acceptable?"
From what you have explained, they may or may not have a valid concern with the "high revolving balance" excuse. But I'd not go down without a fight. Just think of it as the ultimate recon.
Funny that they would use insuffient number of accounts reporting a balance. There's also one for 'too many accounts with a balance'
Personally I would forget Citi as well. I've been with them for about 8 years and got a CC with them 2 years ago. I am carrying 90% usage and they sent me a letter to participate in Payment Partner program with would reduce my CL but I would assume they're gonna close it anyway if I pay it off without using the PP program. I'm pretty much over them. Customer service is really bad too.
@Anonymous wrote:There are, unfortunately, no guarantees, but I think the odds are in your favor. Worst case scenario, you lose a 1/2 hour of your time and the cost of a piece of paper, an envelope and a postage stamp. And even if you don't win, you'll feel a heck of lot better after having sent them a nice, scathing and sarcastic letter. Wait ... on second thought ... leave the sarcastic and scathing out -- that only works for me.
I had an issue with Citibank and also Bank of America not so long ago. I applied for a credit card with each of them and got the 10-day notice from hell. When the ECOA letter came they both cited the same exact reasons:
1. No mortgage showing on my credit report; and
2. Insufficient number of accounts showing a balance.
I called for a recon and they stated that they liked to see 40 - 50% of open accounts with a balance. I had 2 out of 20 showing a balance. I thought this was bogus and, if you ask me, absurd; they want me to spend more and not pay early to prove I was a good risk?
The no mortgage excuse was even more absurd. I have had several mortgages over the years and none are still owing. I had two specifically with BOA and one with Citibank that were paid off quickly. On each recon the analyst could actually see my mortgages, but said that if they are not still open they didn't consider them. Bogus!
Recon failed. Talk about pissed.
Using the name of the Citibank CEO and the e-mail address protocol used by Citibank. I sent an e-mail to the CEO. I also sent a copy via fax to the Citibank CEO and another fax to the CEO of BOA. I know people here on MyFICO.com will find this exceptionally hard to believe, but the tone of my letters were absolutely sarcastic, condescending and, simply, nasty. Basically I told them that I doubted their reasons for denial complied with the ECOA, their risk managers needed a lobotomy and thirdly, considering the class of people they were dealing with lately, they should be smooching my fat rump for remaining their customer.
Within a couple of days they called, apologized profusely and asked me, "What credit limit would you find acceptable?"
From what you have explained, they may or may not have a valid concern with the "high revolving balance" excuse. But I'd not go down without a fight. Just think of it as the ultimate recon.