topic Re: Denied for insufficient income. Do you guys have any advice? ;) in Credit Card Approvals

Denied for insufficient income. Do you guys have any advice? - Update: Approved

Anonymous — Sun, 17 Jun 2018 10:43:35 GMT

Hi, everyone.

My mom has been denied the Citibank Double Cash Rewards card for insufficient income. Should I have her recon.?

Here is a breakdown of her credit profile:

Chase Card

Opened: 12/12/94

Credit limit: $12/$25,000

Credit Card

Chase Card

Opened: 3/02/1998

Credit limit: $122/$9,000

Credit Card

Syncb/JCPenny

Opened: 12/4/2004

Credit limit: $0/$13,000

Charge Account

Syncb/JCPenney

Opened: 01/19/2014

Credit limit: $2/10,000

Credit Card

TD BANK USA/Target Credit

Opened: 02/02/14

Credit limit: $77/$9,500

Credit Card

Sears/CBNA

Opened: 5/13/2013

Credit limit: $200/$10,780

Credit Card

Income: $27,945

Rent: $0--Dad pays for it.

Any thoughts would be appreciated!

Mod note: I've updated your subject to reflect your approvals; feel free to change/edit if you would like. --UB

Re: Denied for insufficient income. Do you guys have any advice? ;)

AverageJoesCredit — Sun, 17 Jun 2018 00:08:35 GMT

I'd recon , I make way less and they approved me lol, no easy feat Haha. Wow, nice Chase limits. I know I get that response from Penfed so it's not great to hear. Your next responses will probably recommend getting more money or drive Uber. Seriously, wait for it. Call and talk to them. Try and talk to a US based agent. Best of luck to Mom

Re: Denied for insufficient income. Do you guys have any advice? ;)

Anonymous — Sun, 17 Jun 2018 00:23:57 GMT

They denied her based on the $28k income? Did she/can she use your dad's income? She has quite a few cards, great limits. Her cards/limits/long history "should" indicate income is ok.

Re: Denied for insufficient income. Do you guys have any advice? ;)

Anonymous — Sun, 17 Jun 2018 01:13:05 GMT

I have seen you post really insightful content on this site, so I thank you for answering my question.

Thanks for the reply!

I had my mom recon, but she was stilled denied. I spoke on her behalf (I speak English; she does not), and they told me (with my mom alongside me) that she has "too much exposure with Citibank-branded accounts" and "has an unhealthy debt-to-income ratio." I am surprised because she has a long credit history and has always paid her Sears Mastercard (which is issued by Citi) in full for the past 5 years. I know she does not make a lot, but she is responsible and is a simple woman. Regardless, do you think I should have her go for an American Express or Discover card? My mom really wants a new rewards cards.

All the best to you!

Re: Denied for insufficient income. Do you guys have any advice? ;)

AverageJoesCredit — Sun, 17 Jun 2018 01:49:27 GMT

Wow, sorry to hear. Strange indeed. Youd be amazed at my exposure with Citi on my income but I'd like to think my responsible use and timely payments has helped.

Heres the good thing about credit. There ARE more than one lender. I think she could definitely find a nice reward card elsewhere. Check out the prequals for Discover and Amex. Even if not prequslified ,doesnt mean she cant be approved. I never get prequals lol.

If you like some specific recommendations please list her true ficos and her aaol and how many inquiries she has on her report. Thanks , also remember, some credit cards allow you or her in this case, to use her income and income she has reasonable access to, ie her husband.

Re: Denied for insufficient income. Do you guys have any advice? ;)

ecxpa — Sun, 17 Jun 2018 01:51:42 GMT

I don't know the income requirement for Amex, but the new Cash Magnet Card is hot right now

Re: Denied for insufficient income. Do you guys have any advice? ;)

Anonymous — Sun, 17 Jun 2018 01:56:17 GMT

Here you go:

AAOA: 11 Years

Inquries: 1(EX) from Citi

TU: 801

EX: 766

EQ: 821

Re: Denied for insufficient income. Do you guys have any advice? ;)

Anonymous — Sun, 17 Jun 2018 02:04:49 GMT

UPDATE: My mom just apped for the AMEX BCE and was approved for $11k and the Best Buy Citi Visa for $10k (she is going to finance a new TV)! MY MOM IS QUICK...LOL! XD

I am honestly shocked she was approved for the Best Buy Visa because she was JUST denied CIti's Double Cash card.

I will have her garden.

Re: Denied for insufficient income. Do you guys have any advice? ;)

sarge12 — Sun, 17 Jun 2018 02:07:54 GMT

@Anonymous wrote:
I have seen you post really insightful content on this site, so I thank you for answering my question.

Thanks for the reply!

I had my mom recon, but she was stilled denied. I spoke on her behalf (I speak English; she does not), and they told me (with my mom alongside me) that she has "too much exposure with Citibank-branded accounts" and "has an unhealthy debt-to-income ratio." I am surprised because she has a long credit history and has always paid her Sears Mastercard (which is issued by Citi) in full for the past 5 years. I know she does not make a lot, but she is responsible and is a simple woman. Regardless, do you think I should have her go for an American Express or Discover card? My mom really wants a new rewards cards.

All the best to you!

One thing she should do before applying elsewhere...she is showing a tiny balance on most of her cards...pay them all to zero before statements cut except 1. AZEO is what it is commonly called. It would also look better if less of her cards had been store cards, but there is really nothing can be done now about that. I know many here disagree, but I've seen enough evidence of people with many store cards being declined for a major credit card, that I do think it has an effect. IMO...the major cc issuers just don't have as much respect for store cards, especially if it is the majority of your cards.

Re: Denied for insufficient income. Do you guys have any advice? ;)

sarge12 — Sun, 17 Jun 2018 02:17:12 GMT

@Anonymous wrote:
UPDATE: My mom just apped for the AMEX BCE and was approved for $11k and the Best Buy Citi Visa for $10k (she is going to finance a new TV)! MY MOM IS QUICK...LOL! XD

I am honestly shocked she was approved for the Best Buy Visa because she was JUST denied CIti's Double Cash card.
I will have her garden.

Congrats...the BCE is really good for grocery shopping, and if the Best Buy card is also a Visa, it is not a store card.

Re: Denied for insufficient income. Do you guys have any advice? ;)

Anonymous — Sun, 17 Jun 2018 03:36:00 GMT

You are abosoluelty right! I have 4 revolving accounts, 3 of which are store cards (I shop a lot), and lenders like AMEX and FNBO won't touch me despite my perfect payment history.

Doesn't my mom techically have more bankcards than store cards. Her Sears card has the "Mastercard" logo and reports as a "Credit Card." She also has a JCPenny Mastercard, which reports as a "Credit Card." The only store card she has the JCPenny store card, which reports as a "Charge Account."

She actually just app'd for the AMEX BCE and Citi Best Buy Visa (she was just denied the Citi Double Cash card...odd) and was approved for both of them with 6-digit limits.

I personally think lenders can be weird sometimes.

Have a great day!

Re: Denied for insufficient income. Do you guys have any advice? ;)

CreditCuriosity — Sun, 17 Jun 2018 03:55:39 GMT

@Anonymous wrote:
You are abosoluelty right! I have 4 revolving accounts, 3 of which are store cards (I shop a lot), and lenders like AMEX and FNBO won't touch me despite my perfect payment history.

Doesn't my mom techically have more bankcards than store cards. Her Sears card has the "Mastercard" logo and reports as a "Credit Card." She also has a JCPenny Mastercard, which reports as a "Credit Card." The only store card she has the JCPenny store card, which reports as a "Charge Account."

She actually just app'd for the AMEX BCE and Citi Best Buy Visa (she was just denied the Citi Double Cash card...odd) and was approved for both of them with 6-digit limits.

I personally think lenders can be weird sometimes.

Have a great day!

Citi Best Buy And JCPenny MC and what not are on retail side of lenders not the legacy side.. Different uw standards, etc.

Re: Denied for insufficient income. Do you guys have any advice? ;)

sarge12 — Sun, 17 Jun 2018 05:18:47 GMT

@Anonymous wrote:
You are abosoluelty right! I have 4 revolving accounts, 3 of which are store cards (I shop a lot), and lenders like AMEX and FNBO won't touch me despite my perfect payment history.

Doesn't my mom techically have more bankcards than store cards. Her Sears card has the "Mastercard" logo and reports as a "Credit Card." She also has a JCPenny Mastercard, which reports as a "Credit Card." The only store card she has the JCPenny store card, which reports as a "Charge Account."

She actually just app'd for the AMEX BCE and Citi Best Buy Visa (she was just denied the Citi Double Cash card...odd) and was approved for both of them with 6-digit limits.

I personally think lenders can be weird sometimes.

Have a great day!

Any card that has the Visa, MC, AMEX, or Disc logos are not store cards. Your original post did not describe the Sears and JCPenny cards as being visa or MC. I was searching for a reason Citi was denying her, and thought all those store cards might be it, so I am now left wondering also.

Re: Denied for insufficient income. Do you guys have any advice? ;)

CreditCuriosity — Sun, 17 Jun 2018 10:59:55 GMT

@sarge12 wrote:
@Anonymous wrote:
Any card that has the Visa, MC, AMEX, or Disc logos are not store cards. Your original post did not describe the Sears and JCPenny cards as being visa or MC. I was searching for a reason Citi was denying her, and thought all those store cards might be it, so I am now left wondering also.

Sorry gotta disagree with you... Lets take Best Buy Visa that is UW by citi, but they got a retail division and a legacy division(Citi DC, Premier, Prestige, etc...Including Costco and a few others) the UW criteria is completely difference between the two thy also from DP don't share info with each other. Also JCPenny for example although a MC or whatever it is underwritten by Sync which is fairly easy UW compared to once again the Citi legacy division. If I was OP I would recon to the EO (executive office) to see iif the decision can be overturned.

Re: Denied for insufficient income. Do you guys have any advice? ;)

AverageJoesCredit — Sun, 17 Jun 2018 13:13:30 GMT

@Anonymous wrote:
You are abosoluelty right! I have 4 revolving accounts, 3 of which are store cards (I shop a lot), and lenders like AMEX and FNBO won't touch me despite my perfect payment history.

Doesn't my mom techically have more bankcards than store cards. Her Sears card has the "Mastercard" logo and reports as a "Credit Card." She also has a JCPenny Mastercard, which reports as a "Credit Card." The only store card she has the JCPenny store card, which reports as a "Charge Account."

She actually just app'd for the AMEX BCE and Citi Best Buy Visa (she was just denied the Citi Double Cash card...odd) and was approved for both of them with 6-digit limits.

I personally think lenders can be weird sometimes.

Have a great day!

Absolutely awesome job. Your moms scores are great as is her aaol. Fantastic approvals. Remember BB is Citi's retail side. Yes if her Penny's and Sears are MC they are bank cards. Come back in 6-12 months on the DC, theyll probably come around. Big congrats to Mom again. Remember in 61 days she may apply for a sp cli with Amex if she chooses.

Re: Denied for insufficient income. Do you guys have any advice? ;)

Anonymous — Mon, 18 Jun 2018 08:19:37 GMT

@CreditCuriosity wrote:
@sarge12 wrote:
@Anonymous wrote:
Any card that has the Visa, MC, AMEX, or Disc logos are not store cards. Your original post did not describe the Sears and JCPenny cards as being visa or MC. I was searching for a reason Citi was denying her, and thought all those store cards might be it, so I am now left wondering also.
Sorry gotta disagree with you... Lets take Best Buy Visa that is UW by citi, but they got a retail division and a legacy division(Citi DC, Premier, Prestige, etc...Including Costco and a few others) the UW criteria is completely difference between the two thy also from DP don't share info with each other. Also JCPenny for example although a MC or whatever it is underwritten by Sync which is fairly easy UW compared to once again the Citi legacy division. If I was OP I would recon to the EO (executive office) to see iif the decision can be overturned.

Interesting and seems to fit what I have heard from Citi CSRs over a long period of time (assuming one can believe CSRs?).