topic Need definition--Citi CLI Denial in Credit Cards

Need definition--Citi CLI Denial

Anonymous — Fri, 09 Oct 2015 04:19:06 GMT

Problem is, is that the balances aren't even that high. Less than 1% util.

Re: Need definition--Citi CLI Denial

jsucool76 — Fri, 09 Oct 2015 04:30:47 GMT

Doesn't say your util is too high. Says your balances are too high in relation to your income.

What is your income, and what are your balances?

Re: Need definition--Citi CLI Denial

Anonymous — Fri, 09 Oct 2015 04:32:35 GMT

@jsucool76 wrote:
Doesn't say your util is too high. Says your balances are too high in relation to your income.

What is your income, and what are your balances?

Balances are less than $1000. Total CL is $30k+. Income reported: $70k.

Re: Need definition--Citi CLI Denial

jsucool76 — Fri, 09 Oct 2015 04:33:34 GMT

That's weird. Not sure. They might just not want to give you a CLI. When did you open your dividend? and when was last CLI.

Re: Need definition--Citi CLI Denial

Anonymous — Fri, 09 Oct 2015 04:34:55 GMT

@jsucool76 wrote:
That's weird. Not sure. They might just not want to give you a CLI. When did you open your dividend? and when was last CLI.

Hmm...it does have a $15k CL.....

And approx 9 years. Last CLI: a long time ago, no clue.

Re: Need definition--Citi CLI Denial

Anonymous — Fri, 09 Oct 2015 04:56:24 GMT

@Anonymous wrote:
@jsucool76 wrote:
That's weird. Not sure. They might just not want to give you a CLI. When did you open your dividend? and when was last CLI.
Hmm...it does have a $15k CL.....

And approx 9 years. Last CLI: a long time ago, no clue.

Do you have any non-CC loans, balances would count there too.

Re: Need definition--Citi CLI Denial

Anonymous — Fri, 09 Oct 2015 04:57:40 GMT

@Anonymous wrote:
@Anonymous wrote:
@jsucool76 wrote:
That's weird. Not sure. They might just not want to give you a CLI. When did you open your dividend? and when was last CLI.
Hmm...it does have a $15k CL.....

And approx 9 years. Last CLI: a long time ago, no clue.
Do you have any non-CC loans, balances would count there too.

Nice one. Didn't think of that....I guess that could be why. Line of credit, car loan, and mortgage. LOL....thanks!

Re: Need definition--Citi CLI Denial

Anonymous — Fri, 09 Oct 2015 05:09:47 GMT

@Anonymous wrote:
@jsucool76 wrote:
That's weird. Not sure. They might just not want to give you a CLI. When did you open your dividend? and when was last CLI.
Hmm...it does have a $15k CL.....

And approx 9 years. Last CLI: a long time ago, no clue.

You've had the card since you were 9 years old?

Re: Need definition--Citi CLI Denial

Anonymous — Fri, 09 Oct 2015 05:10:58 GMT

@Anonymous wrote:
@Anonymous wrote:
@jsucool76 wrote:
That's weird. Not sure. They might just not want to give you a CLI. When did you open your dividend? and when was last CLI.
Hmm...it does have a $15k CL.....

And approx 9 years. Last CLI: a long time ago, no clue.

You've had the card since you were 9 years old?

Asking on behalf of a parent. It's easier to communicate by talking in first person.

Re: Need definition--Citi CLI Denial

redbeard — Fri, 09 Oct 2015 05:23:03 GMT

Do you have things other than credit cards? Mortgage? Car payments? Student loans?

They very likely added up your monthly obligations, then compared this to your monthly income and came up with a back end debt ratio that didn't support the CLI. They could have assumed that you max out the credit line you already have. If you wouldn't be able to afford to pay your current credit line back at the limit, why do you need more?

My guess is, your back end ratio when you include your mortgage or rent is to high. For a mortgage line, I think they typically allow up to about 43% of your income for the back end ratio, though this isn't fixed in stone and I could be off a bit.

Bottom line from the decline is the computer feels you are at risk for not affording to pay them back. They don't want more exposure. Its a tough thing to overcome unless you can make more money or get rid of some bills.

Dan

Re: Need definition--Citi CLI Denial

Anonymous — Fri, 09 Oct 2015 05:24:53 GMT

@redbeard wrote:
Do you have things other than credit cards? Mortgage? Car payments? Student loans?

They very likely added up your monthly obligations, then compared this to your monthly income and came up with a back end debt ratio that didn't support the CLI. They could have assumed that you max out the credit line you already have. If you wouldn't be able to afford to pay your current credit line back at the limit, why do you need more?

My guess is, your back end ratio when you include your mortgage or rent is to high. For a mortgage line, I think they typically allow up to about 43% of your income for the back end ratio, though this isn't fixed in stone and I could be off a bit.

Bottom line from the decline is the computer feels you are at risk for not affording to pay them back. They don't want more exposure. Its a tough thing to overcome unless you can make more money or get rid of some bills.

Dan

Thanks for that explanation. It's much clearer now.