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Valued Contributor
CreditScholar
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Re: Rejected from Citibank Card from bad account history in 1994

If they didn't even pull your credit you can be fairly certain you've been blacklisted. Banks have very long memories, including Citi.
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LS2982
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Re: Rejected from Citibank Card from bad account history in 1994


hoodun wrote:

Doesnt look like they did a hard pull. They just based the decision off a 300 card I had with them back when I was in college. I already have a 3k card with Bank of America, a 2500 with Discover, and a 2500 with cap1, so I am not too concerned. It just seems ludicrous to me that they would remember a college card from twenty years ago and still use it against me. Especially when I walked into the bank and paid in full after missing three months. ...I was a college kid. 

 

Anyway, at least they did not do a hard pull. 


Yup, sounds like you are blacklisted :smileysad:

 

That worries me because I had a CO back in 2003 and they did HP me 2 years ago when I went for a Citi card. Cited "Past Delinquency".




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hoodun
Posts: 10
Registered: ‎04-21-2013

Re: Rejected from Citibank Card from bad account history in 1994

[ Edited ]

Actually, I just checked and they did HP me. Unforgiving bastards. I had a couple charge offs with Cap1 ten years ago and they gave me several cards even with the COs still on my report. I'm blacklisting Citibank and stickin gwith Chase, B of A, US Bank Cap1, and Discover. Thats my current line up so I do not really need Citibank. It was more of a psychological thing to correct move past my previous mistakes in life. They will not let me , so screw them. 

Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Rejected from Citibank Card from bad account history in 1994


hoodun wrote:

Actually, I just checked and they did HP me. Unforgiving bastards. I had a couple charge offs with Cap1 ten years ago and they gave me several cards even with the COs still on my report. I'm blacklisting Citibank and stickin gwith Chase, B of A, US Bank Cap1, and Discover. Thats my current line up so I do not really need Citibank. It was more of a psychological thing to correct move past my previous mistakes in life. They will not let me , so screw them. 


you can't really blame them though.

burn any prime lender, and they'll blacklist you. would you lend money to a friend that never paid you back during college days? same logic there.

cap 1 rarely blacklists anyone because they're dealing with subprime customers. its kinda expected that people in that subgroup are more likely (or very likely) to default, thus the low CL and higher fees.

 

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sjt
Posts: 639
Registered: ‎05-05-2010

Re: Rejected from Citibank Card from bad account history in 1994

[ Edited ]

enharu wrote:

hoodun wrote:

Actually, I just checked and they did HP me. Unforgiving bastards. I had a couple charge offs with Cap1 ten years ago and they gave me several cards even with the COs still on my report. I'm blacklisting Citibank and stickin gwith Chase, B of A, US Bank Cap1, and Discover. Thats my current line up so I do not really need Citibank. It was more of a psychological thing to correct move past my previous mistakes in life. They will not let me , so screw them. 


you can't really blame them though.

burn any prime lender, and they'll blacklist you. would you lend money to a friend that never paid you back during college days? same logic there.

cap 1 rarely blacklists anyone because they're dealing with subprime customers. its kinda expected that people in that subgroup are more likely (or very likely) to default, thus the low CL and higher fees.

 


I dont blame lenders at all for blacklisting either, but if you pay them back in full, they should not hold that against you. Its actually a disincentive not to ever pay them back. Amex and Navy will let you back in if you pay them back.

 

 

PS: I know Im responding to an old post, but I had to add my 2 cents.

 

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longtimelurker
Posts: 5,488
Registered: ‎04-22-2013

Re: Rejected from Citibank Card from bad account history in 1994


sjt wrote:

enharu wrote:

hoodun wrote:

Actually, I just checked and they did HP me. Unforgiving bastards. I had a couple charge offs with Cap1 ten years ago and they gave me several cards even with the COs still on my report. I'm blacklisting Citibank and stickin gwith Chase, B of A, US Bank Cap1, and Discover. Thats my current line up so I do not really need Citibank. It was more of a psychological thing to correct move past my previous mistakes in life. They will not let me , so screw them. 


you can't really blame them though.

burn any prime lender, and they'll blacklist you. would you lend money to a friend that never paid you back during college days? same logic there.

cap 1 rarely blacklists anyone because they're dealing with subprime customers. its kinda expected that people in that subgroup are more likely (or very likely) to default, thus the low CL and higher fees.

 


I dont blame lenders at all for blacklisting either, but if you pay them back in full, they should not hold that against you. Its actually a disincentive not to ever pay them back. Amex and Navy will let you back in if you pay them back.

 

 

PS: I know Im responding to an old post, but I had to add my 2 cents.

 


Not sure.   In most cases it's not the money that is important (banks have lots!) more the risk.  They might be paid back, but they weren't paid on time, as agreed, so they view the individual as a big risk, and choose not to have another relationship with them. 

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Established Contributor
sjt
Posts: 639
Registered: ‎05-05-2010

Re: Rejected from Citibank Card from bad account history in 1994


longtimelurker wrote:

Not sure.   In most cases it's not the money that is important (banks have lots!) more the risk.  They might be paid back, but they weren't paid on time, as agreed, so they view the individual as a big risk, and choose not to have another relationship with them. 


 I agree that past history is important in assessing a credit relationship with a lender and that all things should be taken into consideration, including the fact you paid them off in full. My point is that you should not automatically be denied for credit (ie backlisted) if you PIF.

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enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Rejected from Citibank Card from bad account history in 1994

Technically if you paid them a few years later what you owed at that time, you technically didn't pay in full, because the lender lost money on the accrued interests as well. They are essentially getting less money than what they lent out because the money you paid back doesn't account for inflation either. I doubt any lender will make you pay for all the accrued interests either. That will make the amount owed too prohibitive for most people to want to pay back.

And like longtimelurker said, it has to do with risk. For example, people who declared BK before, are statistically proven to be more likely to do so again.
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Valued Contributor
djc1puno
Posts: 1,715
Registered: ‎03-07-2013

Re: Rejected from Citibank Card from bad account history in 1994


hoodun wrote:

I was rejected from a citibank card because I had a bad account history with them in 1994. The account was three month past due and going into collections when I paid it off in full. It was my first card in college. I ssumed this would go away after 7 years?


first off, sorry to here about your denied app w citi...you mentioned your account being in 1994...when did you pay them off? i agree with others that it falls off after 7 years, but not necessarily on the banks' system (blacklist book). how much was your TL then that got closed?



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