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Decided to add one more card to my mini spree after getting denied for BCE and still in pending review for Cash Plus, and Citi denies me with a 740 EQ and 80k a year income. I call them and they give me the reason as being "Too low amount of revolving credit being used"...really Citi? I'm sorry for not being in major debt. FWIW my AAOA is 6 years and my history is 11 years
@Anonymous wrote:Decided to add one more card to my mini spree after getting denied for BCE and still in pending review for Cash Plus, and Citi denies me with a 740 EQ and 80k a year income. I call them and they give me the reason as being "Too low amount of revolving credit being used"...really Citi? I'm sorry for not being in major debt. FWIW my AAOA is 6 years and my history is 11 years
They are essentially telling you that you aren't profitable enough for them to worry with it. They are in business to make a profit.
I'm thinking I can guess what those choice words are!
@jsickz32 wrote:
Whats your utl?
0% I paid all of my debt off recently and have been PIF. Their exact words were "You aren't showing us enough history to see how you pay your cards"....I said..umm yeah I have an average age of 5+ years on all my reports, and a 740 EQ which you pulled...unreal. Won't be doing anymore business with CITI
Citi will require at least one card to be reporting a balance. I do not know how much they would like to see, but it has to be at lease one. Their thinking is if you are not using the cards you have, why do you need another one? You can try talking to someone about it since you have nothing to lose. Just in the future make sure that you have once card reporting something when applying for Citi.
@Elcid89 wrote:
@Anonymous wrote:Decided to add one more card to my mini spree after getting denied for BCE and still in pending review for Cash Plus, and Citi denies me with a 740 EQ and 80k a year income. I call them and they give me the reason as being "Too low amount of revolving credit being used"...really Citi? I'm sorry for not being in major debt. FWIW my AAOA is 6 years and my history is 11 years
They are essentially telling you that you aren't profitable enough for them to worry with it. They are in business to make a profit.
I hate to say it, but you're probably right on this. A prime lender isn't just looking for a low risk, but rather for someone who will use the heck out of the card. I think these lenders are tired of people snagging their credit cards for the sole purpose of padding available credit and keeping utilization low.
I'm sorry, but that is how I see the credit game to some...not that there's anything wrong with playing the game, but a lender isn't obliged to contribute.
Being in even an little bit of debt, is important.