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My FICO is around 800.
Applied for Citi Card an hour ago, received message: "we received your application".
Called backdoor number and was told: Denied.
Reason: all your revolving accounts show $0, that tells us you are not actively using your credit cards. BS
I could not believe what he was telling me. I am using all 8 CC's actively but this month I paid them off before the statement closing day so that when it reports to credit bureaus it does not show any balance. It was my intention that when I apply for Citi card all my revolvers show $0 balance. Guess what: it worked against me, Citi did not like it. Unbelievable...
Anyone else received this bogus reason for denial ??? I don't think I will ever again apply for Citi card...
Ha, that's pretty funny actually.
If that's the only reason, just let one or two cards report less than 10% that month. They'd probably approve you, then.
That is bogus. It's probably good to let a card report 10% of the limit. I've applied for cards with 2 or 3 cards reporting balances and have been approved. Good job of managing your credit.
I applied online and immediatelly after receiving: "we received your application" called the status line (backdoor number). He goes to tell me that decision was made by underwriter. Nooooooooooooooooo way.
I know it was computer system made. They set up their system so that if applicant has all revolvers at $0 it automatically gets denied because they believe such customer is not using credit cards actively which in many cases actually gives them the wrong picture of the customer since many of us are waiting until we pay off our balances before we apply for new credit.
WOW!
Concrete evidence to support everyone's reasoning for saying, "Pay all of them down to $0, except one, and let that report 2-9%."
@Epcot wrote:
Sorry to hear, that is a crazy reason for denial. I know they don't have the best recon dept, but I would try calling back.
He said I will receive the letter in the mail and that I am welcomed to send them the updated report in the mail. I have asked what kind of report they would like to see and he says the one that shows some balances on revolver accounts. I still can't believe it. Why they then use Experian report which shows balance history in detail 24 months back if they automatically deny for not having any balance at the time of application ??? They can clearly see that I was using my revolver accounts.
Funny thing is I was waiting for Experian to update my last revolver to show $0 balance today. I have checked my report like 10 times in the morning and early afternoon until it finally got updated to last revolver to show $0 balance. Then I applied.
@Platinum wrote:My FICO is around 800.
Applied for Citi Card an hour ago, received message: "we received your application".
Called backdoor number and was told: Denied.
Reason: all your revolving accounts show $0, that tells us you are not actively using your credit cards. BS
I could not believe what he was telling me. I am using all 8 CC's actively but this month I paid them off before the statement closing day so that when it reports to credit bureaus it does not show any balance. It was my intention that when I apply for Citi card all my revolvers show $0 balance. Guess what: it worked against me, Citi did not like it. Unbelievable...
Anyone else received this bogus reason for denial ??? I don't think I will ever again apply for Citi card...
If the card is important/worth it to you I would call the executive office (I'll pm you the info if you want) Tell them the reason for the denial and if needed offer to fax them a statement from one of the cards and that you were using them but wanted to show them as Paid in Full. Good Luck!
@greenpang wrote:WOW!
Concrete evidence to support everyone's reasoning for saying, "Pay all of them down to $0, except one, and let that report 2-9%."
Exactly. Except for Citi.
CITI DENIES IF YOU SHOW NO BALANCES...