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Regular Contributor
Posts: 115
Registered: ‎11-13-2013
0

Citi Diamond Preferred - Limited Credit History

Hey guys!

So, I pulled the trigger and applied for the Citi Diamond Preferred. Unfortunately, I was declined; based on what the CSR told me, it was based on Exp reporting a "limited credit history."

Whhhhaaaaat?

Correct me if I'm wrong, as I may be misunderstanding something here. But, it sounds as though Citi received a report showing limited history, as in - my AAoA is low.

I established credit over a year ago with a car loan, which I was able to refi. During the refi, Exp was pulled, and the refi went along swimmingly (it was actually really awesome!). So I'm kind of calling BS on Citi at this point. -_- My credit union didn't have a problem with my Experian report three months ago, so what's the problem with Citi? -_0

Like, what's the deal? Did Citi goof up, or are they just difficult to deal with? I went the recon route, which was unsuccessful. I was getting all kiiiiinds of 'tude from the CSR (and I was being a nice guy too!).

I received the rejection letter in the mail today, and it sites the same reasoning. Should I call back and bang my head against the wall again, or just let it go? >Smiley Indifferent


Last App: 12/25/2013
TU: 743 (Discover) Ex: 718 (CS) Goal: 760+ Across All
Gardening Until 6/25/14+
Moderator Emerita
Posts: 27,204
Registered: ‎09-13-2012
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Re: Citi Diamond Preferred - Limited Credit History

[ Edited ]
Welcome to the forum. Besides the car loan, what other items appear on your CR's? Do you have any revolving cc's ? Student loans?
Regular Contributor
Posts: 115
Registered: ‎11-13-2013
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Re: Citi Diamond Preferred - Limited Credit History

Mhm, I have a Discover It (5k) and an AmEx BCP (2k). No student loans. No negatives.


Last App: 12/25/2013
TU: 743 (Discover) Ex: 718 (CS) Goal: 760+ Across All
Gardening Until 6/25/14+
Senior Contributor
Posts: 11,485
Registered: ‎10-21-2012
0

Re: Citi Diamond Preferred - Limited Credit History

Sorry - your profile is simply to thin or with limited experience for Citi's liking - not BS.  If your reconsideration efforts were futile, then just let it be since they will not bend.  Just business, nothing personal.  Citi prefers that you have an established history before they can open the doors for you, exception being if you were going the student card route.  Of course you're welcome to try again if anything in another 6-12 months.

Moderator Emerita
Posts: 27,204
Registered: ‎09-13-2012
0

Re: Citi Diamond Preferred - Limited Credit History

Regular Contributor
Posts: 115
Registered: ‎11-13-2013
0

Re: Citi Diamond Preferred - Limited Credit History

I've had an excellent track record with Discover since January, the same goes for AmEx since February.

Frankly, I'm not sure what else Citi would need to see. I receive pre-approved offers consistently from their competitors. It seems as though they either A: Use a different approval structure, or B: Had an issue receiving a report from Exp, and wrote it off.


Last App: 12/25/2013
TU: 743 (Discover) Ex: 718 (CS) Goal: 760+ Across All
Gardening Until 6/25/14+
Frequent Contributor
Posts: 272
Registered: ‎07-04-2008
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Re: Citi Diamond Preferred - Limited Credit History

I am also curious about this thread. Adding a Citi card to my portfolio is the last one I want for now. I also have a limited history, but I do have many accounts (17 credit cards, an auto loan, and student loans). My Experian score is sitting at around 700. I am a student, but I also have a great income to work with. If I applied for the student card, would that hinder me later on when I am eligible for higher limits? I really want the ThankYou Prferred card, because I cannot stomach another AF card....
Cards I Carry
$7.5K $23K $5k $300(SEC) $500 $300 $1,500 $800 $800
Total Available Credit: $39.7k | FICOS: EX 659 | EQ 661 | TU 673
Moderator Emerita
Posts: 27,204
Registered: ‎09-13-2012
0

Re: Citi Diamond Preferred - Limited Credit History

Your credit profile is less than a year. Citi is requesting a longer history from you, which is their right. Anything less than 2years is generally considered thin as far as AAOA is concerned.
Senior Contributor
Posts: 11,485
Registered: ‎10-21-2012
0

Re: Citi Diamond Preferred - Limited Credit History

[ Edited ]

MACFRME wrote:
I am also curious about this thread. Adding a Citi card to my portfolio is the last one I want for now. I also have a limited history, but I do have many accounts (17 credit cards, an auto loan, and student loans). My Experian score is sitting at around 700. I am a student, but I also have a great income to work with. If I applied for the student card, would that hinder me later on when I am eligible for higher limits? I really want the ThankYou Prferred card, because I cannot stomach another AF card....

You may need to build more on the history if your AAoA is less than a couple years old and not to mention any recently acquired CCs and inquiries.  Typically, and although any U/W criteria can change, you would need a score north of 700 to qualify for the Citi TYP (they can pull any of the 3 CRAs), in addition to other factors that would be considered for creditworthiness.  As far as the array of Citi student CCs, the CLs would be limited from growing at a specific point since those are targeted CC programs unlike the other mainline CCs.

Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
0

Re: Citi Diamond Preferred - Limited Credit History

The reason why citi denied you is valid. Your credit history is indeed very short, which means its also limited. Citi just feels uncomfortable issuing you a credit card based on very limited data on your payment history, behavior, which results in them being unable to accurately assess how risky of a customer you are.

Just give it a few more months to a year and try again. In the meantime just keep your Amex, discover and other accounts in good standing and you will be fine.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

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