Credit Cards

[creditwherecreditisdue]

I think there are backdoor numbers in that thread for both. If you can find a BD number use it.

[Credit_repair]

Just an update:

I called discover and I was declined because of a recently opened auto loan with a high balance... Of course it will be a high balance its an auto loan! surely they dont expect a 2 month auto loan to have a low balance... wtf

I dont get these people. Oh well, I dont need their credit... I have plenty elsewhere!

I dont think I am going to bother with Citi...

I will just try again in a year's time when my auto loan will be matured and also will have a much lower balance...

[creditwherecreditisdue]

You need to call Citi.

You need to realized there is heightened sensitivity to new credit these days specially regarding those with short histories and thin files.

[illtakecreditforthat]

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Credit_repair wrote:

Just an update:

I called discover and I was declined because of a recently opened auto loan with a high balance... Of course it will be a high balance its an auto loan! surely they dont expect a 2 month auto loan to have a low balance... wtf

I dont get these people. Oh well, I dont need their credit... I have plenty elsewhere!

I dont think I am going to bother with Citi...

I will just try again in a year's time when my auto loan will be matured and also will have a much lower balance...

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From your original post it appears that you acquired a new auto loan after paying off a previous auto loan.  I was denied a credit card because I had recently leased 2 autos.  However, I had previously paid 2 existing loans in full.  I successfully argued on recon that the new auto leases was merely "substituted" loans for previously "satisfactory paid" loans.  I was approved for the card.  I'd retry Discover. All you have to lose is perhaps 20 minutes.

Message Edited by illtakecreditforthat on 07-27-2009 06:28 PM

[creditwherecreditisdue]

Don't be afraid to push a little and self advocate. You have absolutely nothing to lose and a CC to gain. You made the effort to apply - don't be afraid to make the effort to perfect your application!

[Credit_repair]

Hi all...

thanks for the encouragement...

I called back citi and I was declined because I have too many inquiries (one from the auto loan in may, two for my recent amazon cards) and I have too many open lines of credit.

No way to reconsider decision now... the credit analyst said that I may try back in 6 months after closing some of my credit cards. Ideally they say they only want to see 3 open credit lines.

I am not going to try reapplying in six months as I dont see myself closing all my lines of credit to please them.

[creditwherecreditisdue]

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Credit_repair wrote:

Hi all...

thanks for the encouragement...

I called back citi and I was declined because I have too many inquiries (one from the auto loan in may, two for my recent amazon cards) and I have too many open lines of credit.

No way to reconsider decision now... the credit analyst said that I may try back in 6 months after closing some of my credit cards. Ideally they say they only want to see 3 open credit lines.

I am not going to try reapplying in six months as I dont see myself closing all my lines of credit to please them.

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This suggestion is preposterous. I don't doubt that it was said, but it certainly isn't true. When I got my Citi DP card in December I had six revolving plus a car loan and others have many more. Don't close anything and reapp in six months if you like. Ridiculous.

[Credit_repair]

Hi Creditwherecreditisdue,

thanks for all your support! Really appreciate it.

I dont think it's a good idea to close all my credit lines to please a prospective creditor... I will definately try back in 6-9 months and reapply, by then my auto loan as well as 2 new credit cards would be mature and updated...

the effect of my applications as well as carrying the balances to my amex and chase caused my Equifax fico to drop to 691 but I expect to pay both cards in full before the statement drops this time (I had made the purchases 2 days before the statement dropped    ) so I should see a slight jump in scores.

Message Edited by Credit_repair on 07-28-2009 08:07 AM

[illtakecreditforthat]

Talk about inconsistent behavior.  I've had the CITI Diamond Preferred card for several years.  A few months ago I app'd for the CITI HHonors card.  I was declined for "too few satisfactory accounts"  When I called, I was told that this particular card required a minimum of 8 open accounts (I only had 7 a the time). 

[creditwherecreditisdue]

I think they go to a big spinner, give it a whirl and when it stops it offers up the excuse du jour.

Three? Eight? What's the difference...

Message Edited by creditwherecreditisdue on 07-28-2009 11:30 AM