Quite Frustrating

[Scamp]

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usmc58555 wrote:

Go to your CITI branch.

Demand nothing.

Ask to meet with a loan officer.

Tell him your situation and your concerns.

Someone who makes 200K a year and has a long banking relationship he should be able to involve someone to get you a product, any product, and to be honest if he cannot or does not, why should your money be in their bank generating profit for them?

I am no ttelling you to try for a $5,000 card, but they should be able to get you something.

have a back up plan.

Call your old credit union you were a member of, ask them  if they could help you get a a card. Again you have a high income (granted I know nothing of your outflow but assume you have a good amount of net coming in each month).

You are not a thin file with 6 months of job history and $1800 a month gross.

look for a new credit union to join such as Alliant.

Heck go to a Chase and open a Checking account, deposit some money ($5,000) and see if they will approve you a card on the spot.

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Necrovice, for what it's worth, I agree with much of what usmc58555's recommended above, particularly the highlighted items.

While a long-term good relationship with an institution may not give you 'demanding' rights or privileges, it can be a plus in a situation such as yours (it was when I was in a similar situation a few years ago - having accounts at WF did help their willingness to offer me a secured card to start my rebuilding process).

It's definitely worth a shot.

Good luck!

[creditwherecreditisdue]

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@Anonymous wrote:

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@creditwherecreditisdue wrote:
I am standing with Plan A. If he approaches the platform officer at Citi on that basis, authorizes no hard INQ until reasonably assured of approval and in spite of that assurance is willing to face another denial then have at it. Unfortunately I am not sanguine regarding the flexibility of money center banks when it comes to their approval processes. It is what it is. Futher, they know what he has on deposit and if they wanted to offer him a CC they could have already done it. (We don't even know at this point the nature of the income or it's substantiability.)

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That is what I don't understand (regarding the deposits).  I was clear on the phone with the person taking my application that will my bank statements be included in the credit scoring process - and he said yes.  Income is corporate in nature, Fortune 500 company employee.

Can I request a hard no INQ?  I know my two recent INQ's are on my report till Sept 2011, but when do they become less relevant?

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When you actually app you are going to be harded. You need to be pretty certain that you will be approved before you submit to that, Hard INQ's are a factor in calculating your score for one year and report on your CBR for two years. You can't request to app with no INQ - that won't happen. You can ask an opinion of your chances for approval and for what products without a hard INQ. That's why you take along your own credit reports. If they are unwilling to answer that question you pick up and walk out the door. There are plenty of others who will be willing to help you.

[tommiej7533]

The address is Myfico.com/12

[creditwherecreditisdue]

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@tommiej7533 wrote:
The address is Myfico.com/12

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There is a fully explanatory thread link above, including a link to the site.

[Anonymous]

Here's a problem I perceive with CITI.  Most major banks will soft pull periodically on their banking customers in order to market their credit products.  Apparently, CITI is not impressed with your lack of credit experience, and therefore reluctant to be the first to jump in the water.  I'm sure many in these forums have received pre-qual letters from their banks stating "as a preferred customer...."  The fact that you have not received any offers from CITI is not a positive sign.  I'd move on to another bank (US Bank has a good reputation) or a CU,

[Anonymous]

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@Anonymous wrote:
Here's a problem I perceive with CITI.  Most major banks will soft pull periodically on their banking customers in order to market their credit products.  Apparently, CITI is not impressed with your lack of credit experience, and therefore reluctant to be the first to jump in the water.  I'm sure many in these forums have received pre-qual letters from their banks stating "as a preferred customer...."  The fact that you have not received any offers from CITI is not a positive sign.  I'd move on to another bank (US Bank has a good reputation) or a CU,

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Although I completely agree that upon opening an account a bank may hard or soft pull you, if you have no credit lines or overdraft I do not see how they would justify continuing to do so, even for marketing. (BTW thank the Patriot Act for that "justification" in most cases)

Since CITI is not a known frequent soft puller (from sources on the internet, not from personal experience)

Does Opening a Savings, CD, or Checking Account Impact Your Credit Score?

http://www.bestcashcow.com/personal_finance/article/sol_nasisi/does-opening-a-savings-cd-or-checking-account-impact-your-credit-score

AND

Opening new CDs could hurt credit score

http://www.bankrate.com/finance/cd/opening-new-cds-could-hurt-credit-score.aspx

Message Edited by usmc58555 on 08-26-2009 09:56 PM

[creditwherecreditisdue]

You gotta love that those INQ's are gonna fall off in three months. What a colossal piece of misinformation. How could anyone from a CRB get away with stating that unchallenged?

[Anonymous]

Many banks still periodically soft pull their customers for marketing purposes.  Although you may not be a viable candidate for a credit product in January, you may be in April.

As for CITI, I have 3 accounts with them and they consistently soft pull all 3 bureaus. For my credit cards and LOCs, they pull monthly.

[Anonymous]

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@Anonymous wrote:

Many banks still periodically soft pull their customers for marketing purposes.  Although you may not be a viable candidate for a credit product in January, you may be in April.

As for CITI, I have 3 accounts with them and they consistently soft pull all 3 bureaus. For my credit cards and LOCs, they pull monthly.

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RIGHT-But my point is...... you have credit products through them.

They can pretty much justify it all at that point. No matter what they want to do, hey we have his credit account have to keep up on him.

But if you only have non credit products, the question is do they have that right/ability/desire to continue to pull after that open your account initial pull?

[creditwherecreditisdue]

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@Anonymous wrote:

Many banks still periodically soft pull their customers for marketing purposes.  Although you may not be a viable candidate for a credit product in January, you may be in April.

As for CITI, I have 3 accounts with them and they consistently soft pull all 3 bureaus. For my credit cards and LOCs, they pull monthly.

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Jee's I get AR'ed but not monthly. Nobody AR's me monthly except AMEX and I don't even have an open account with those sick buckeroos.