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Just got denied for the Citi Forward card, why?

Regular Contributor

Just got denied for the Citi Forward card, why?

- Your credit report shows too few credit references. 

 

- Your credit report shows that your accounts have a low credit limit.

 

What does the first reason mean and how long do I have to call back for a recon? My Discover card has a limit of $2,250, a Capital One card with a $500 limit and a Chase card with a $300. I just got approved for a Clear card with a $2,000 limit and have no idea when it is going to show on my credit reports. So am I screwed or should I just call back this week?

7 REPLIES
Moderator Emerita

Re: Just got denied for the Citi Forward card, why?


Awesomely wrote:

- Your credit report shows too few credit references. 

 

- Your credit report shows that your accounts have a low credit limit.

 

What does the first reason mean and how long do I have to call back for a recon? My Discover card has a limit of $2,250, a Capital One card with a $500 limit and a Chase card with a $300. I just got approved for a Clear card with a $2,000 limit and have no idea when it is going to show on my credit reports. So am I screwed or should I just call back this week?


The first reason is a reference to "thin credit"-- too few tradelines, or, the history on the existing tradelines is too new/short. Now, what any particular lender considers to be "too few credit references" varies.

 

Are all, or most of your cards newish? How many INQs do you have, under 1 year old? The answer to these questions might help you decide whether or not a recon attempt will be successful with Citi. There's some evidence to suggest that they're INQ & new account weary. On the other hand, once you've taken an INQ, the conventional wisdom is to recon the denial, unless another hard INQ is likely, and success is highly unlikely.

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Regular Contributor

Re: Just got denied for the Citi Forward card, why?

Yes I think it may be because of the inquiries, I had two or three on Experian before I applied so that might be why.

Frequent Contributor

Re: Just got denied for the Citi Forward card, why?

citi is very picky on inquiries in a 6 month period, they denied me because i had 6 inquiries in 6 months

amazon
Contributor

Re: Just got denied for the Citi Forward card, why?

I had an insane number of inq and new accounts over a 6 month period, and they still approved me with a starting CL of 4k. 

Contributor

Re: Just got denied for the Citi Forward card, why?

I do bank with them (both savings and checking) so this might have helped. 

New Contributor

Re: Just got denied for the Citi Forward card, why?

Definitely call for recon, I see ppl without any credit history get forward card as the first cc so you should have a much better chance.

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Regular Contributor

Re: Just got denied for the Citi Forward card, why?

I definitely will call tomorrow, if it's for too many inquiries I will understand.