Received invitation for Citi Platinum Select and got the still processing message.....

[brojen]

Hello,

I have received a couple of the Citi mailings to apply for the Citi Platinum Select with the "personal number" assigned. I finally thought I would give it a whirl tonight and applied online. I submitted the app and got this message.

Application Received

Thank you XXXX XXXX. We have received your application and further processing is required at this time. We will contact you within a week via email regarding our decision.

Is this pretty much a denial? or is there still hope?

[OnWayUpinTexas]

In my recent experience with Citi, that meant a denial.  But, perhaps recon will work ... it didn't for me though.

Sorry if it doesn't work out ...

[laz98]

i agree with the post above me.  it was a denial for me as well.

[rom828]

Sadly, I have to agree that this may well be a denial.

I applied on two different occasions after receiving the same pre-app mailings, and got the same message you did...and both times it meant a denial.

I wasn't successful with recon either time (utilization and PR on record) but I've read quite a few posts advising of successful recons.

And  maybe they just need some more info and it isn't really a denial.

Please post back.

Good luck!!

[OnTheRebound]

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@rom828 wrote:

Sadly, I have to agree that this may well be a denial.

I applied on two different occasions after receiving the same pre-app mailings, and got the same message you did...and both times it meant a denial.

I wasn't successful with recon either time (utilization and PR on record) but I've read quite a few posts advising of successful recons.

And  maybe they just need some more info and it isn't really a denial.

Please post back.

Good luck!!

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I haven a Public Record on my reports. I recieved a preapproval letter back in August. It was an instant approval for 8.7K.

I had no open accounts of my own, only 2 old closed accounts in good standing and am an AU on 5 of my wifes accounts. Low utilization.

[janesmith1979]

Brojen, I got the same message as you when I applied and just got a decision from Citi via email: "Unfortunately, we are unable to approve your request for the account at this time due to the following: Too many recent credit inquiries recorded on your credit bureau report".

Well, yeah, because I put in a bunch of apps for auto loans a couple of weeks ago to get the best financing available before I bought a new car! Shouldn't Citi have been able to tell that they were all the same type of inquiries? Would that have made a difference in their decision to approve or deny me for their card?

Oh, well. I needed a new car (got the dealer's 0% financing for 60-months!) way more than I need a new credit card. But the 0% intro APR and 13.99% rate thereafter on the Citi Platinum Select card was so appealing. What's this "recon" that has been mentioned here on the forums and would it help me with Citi? I'd love to transfer balances from my higher rate cards to the Citi card, if I could get approved for it. Thanks, y'all!

[ArisGreek]

I thought when you're shopping for auto loans or mortgage loans that they only count as 1 inquiry if they are within 30 days

[rom828]

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@ArisGreek wrote:

I thought when you're shopping for auto loans or mortgage loans that they only count as 1 inquiry if they are within 30 days

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They do for scoring purposes....but all the inquries are still listed, so for 'app' purposes can look like a lot of 'credit seeking'.  And it can depend on the analyst on recon as to whether they take the car shopping aspect into consideration when making the yea or nay decision.

[rom828]

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I haven a Public Record on my reports. I recieved a preapproval letter back in August. It was an instant approval for 8.7K.

I had no open accounts of my own, only 2 old closed accounts in good standing and am an AU on 5 of my wifes accounts. Low utilization.

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I think my bigger problem was really the utilization aspect....about 25% when I applied.  The denial letter cited both the PR and balances too high, but just like you've advised, I've read numerous posts of Citi approving w/PR on record.  Frustrating, because I'd like to take advantage of the 0%  21 mos BT so I can get the debt paid down faster.

[MarineVietVet]

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@ArisGreek wrote:

I thought when you're shopping for auto loans or mortgage loans that they only count as 1 inquiry if they are within 30 days

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FICO scoring has a "de-duplicationwindow" and it looks at your history for the last 12 months, and when it sees two or more hard inqs for the same type of mortgage or auto loan it will ignore all but one of them as far as scoring is concerned. If the lender is using an older FICO scoring model the window is 14 days, if they are using the newest model it can be up to 45 days. Also keep in mind that even though the multiple inqs count as one in FICO scoring, all of the inqs will continue to show on your reports (that is, reports pulled from sites other than myfico) for up to 2 years.

(Yes I stole this right from our distinguished moderator fused).

 From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".