topic Re: Citi CLI denied - questions in Credit Cards

Citi CLI denied - questions

Anonymous — Wed, 25 May 2016 13:50:35 GMT

*** First and foremost this is not a rant, bitching, or anything defamatory towards Citi. They have been great to deal with and I have no desire to close, etc.

Ok, pushed yesterday for a CLI on my Prestige (I was cool taking the HP because I am not apping for anything this year). So this morning having not seen any update of approved or denied I called in. A very nice CSR informed me that it was denied to "negative item", and then she also said "public record" from your Experian file. Ok, now I'm in **bleep** mode so I just logged in to Experian directly and refreshed my report with them.

It does note (1) negative item (which I have posted about before which was Verizon which last updated 1.6 years ago) which is fine, I own that and it goes away 3/1/2017. BUT, the report shows zero under Public Record and I pulled all (3) yesterday here (MF) and again, zero public records.

So, again, not upset at all but I am a bit confused. Could it be they didn't want to extend me and used that (1) negative as the easy out?

Also, IF there had been a public record (which would be new) then wouldn't they have possibly taken AA?

Re: Citi CLI denied - questions

takeshi74 — Wed, 25 May 2016 14:10:37 GMT

You didn't qualify for the CLI and that's really all we can say. We don't know the specifics of Citi's underwriting criteria for your card or for any creditor/product.

We can speculate about whether or not they'd take AA with a public record on your credit profile but such speculation wouldn't be of any benefit. The negative you have prevented you from qalifying for the CLI but it apparently has not led to AA with Citi.

@Anonymous wrote:
and then she also said "public record" from your Experian file.

If you've verified that there isn't a public record then don't worry too much over what a single CSR said. She may be conflating the negative with Verizon and public record.

Re: Citi CLI denied - questions

Anonymous — Thu, 26 May 2016 06:54:15 GMT

Sorry to hear that you got denied :/ What's the current limit and how much did you ask for. What is your credit score, if you don't mind me asking. Good data point.

Re: Citi CLI denied - questions

Anonymous — Thu, 26 May 2016 15:00:54 GMT

@Anonymous wrote:
Sorry to hear that you got denied :/ What's the current limit and how much did you ask for. What is your credit score, if you don't mind me asking. Good data point.

Current limit is 17K and asked for 30K. I was expecting a counter offer of like 25K to which I would have gladly accepted and then my journey would be completed. If I can get this card to 20K or more then I'm done.

EX score is 739. The catch is the way Verizon updated when I paid them it shows my last late on EX is 1.6 years, thus why my EX lags behind my EQ at 775 and TU at 771. Oh well, I guess the CSR's language just crossed up because as of this morning there is zero under the 'Public Record' category for all (3) files.

I'll wait for the letter and then I'll give them a ring.

Re: Citi CLI denied - questions

Anonymous — Thu, 26 May 2016 15:05:47 GMT

When you get the letter, see what date they pulled the CRs. It has happened with me on my Amex cards. They pull every quarter and if you app for CLI in between, chances are that older data may be referenced.

Re: Citi CLI denied - questions

Anonymous — Thu, 26 May 2016 15:18:50 GMT

@Anonymous wrote:
When you get the letter, see what date they pulled the CRs. It has happened with me on my Amex cards. They pull every quarter and if you app for CLI in between, chances are that older data may be referenced.

myFICO alerted me of a single EX HP on 5/24. This also shows a HP from CNBA on 5/24 when viewing Experian directly (experian.com), and again matches the refresh data I examined this morning. While logged in to Citi.com and viewing my credit score they show 783 4/26/2016 (obviously not EX I am guessing) so I am guessing that was my last SP.

Re: Citi CLI denied - questions

yfan — Thu, 26 May 2016 17:05:06 GMT

I would wait for them to send you the denial letter and see what reasons they formally note. As this was a hard pull, this will entitle you to a free report from whatever agency they used (that should also be noted in their letter). Get that report and see if that matches up with they are saying in the letter. A lot of CSRs may mistake any negatives for a "public record".

Re: Citi CLI denied - questions

Anonymous — Thu, 26 May 2016 17:17:40 GMT

@yfan wrote:
I would wait for them to send you the denial letter and see what reasons they formally note. As this was a hard pull, this will entitle you to a free report from whatever agency they used (that should also be noted in their letter). Get that report and see if that matches up with they are saying in the letter. A lot of CSRs may mistake any negatives for a "public record".

Question: In regard to your noting getting a free report when i receive the letter. Is that going to be anything different than the report I pulled this morning directly from Experian's website? When I was speaking of the details of my reports that was as current as of this morning, no speculated on an older report.

Re: Citi CLI denied - questions (updated with a question for others)

Anonymous — Thu, 02 Jun 2016 15:33:06 GMT

My fellow myFICOers, I spoke wtih Citi this morning and wanted to get help in understanding. Before I ask in no way am I upset, I am very happy with my card, and I look forward on knocking on Citi's door again 3/1/2017.

That said I called this morning and inqured because I have not received the denial letter. The very nice CSR said I could read it in my online account under the messages section (DOH!, slaps my forehead!). So I read it and it had language of "garnishment, paid or unpaid judgment, foreclosure, etc.....". I was like HOLY BLEEP! Freshly pulled all 3 and I cannot find anything that resembled such reasons.

So after I take all that in I call back to get a further explanation (I was wanting to ask them what in the world they saw to use such denial terms). Well after another very helpful CSR I learned the language word he got back from the credit department (his words) was "collection". So yes, as I have posted about before the Verizon account I paid off 1.8 years ago did indeed have the language of "collection account".

So my question is this: Why was this an instant show stopper on this CLI but that same item was on my EX when they instantly approved a CLI of 5K to 17K? I mean I would be 100% cool if they simply said they felt I had enough revolving credit, etc.

Again, I am asking to learn here, not to come back for round 2 in recon, etc. I am more than content with my current CL and will not ask for anything going forward until after 3/1/2017 when Verizon falls off forever.

Re: Citi CLI denied - questions (updated with a question for others)

LuckyBird — Thu, 02 Jun 2016 17:09:23 GMT

Pretty puzzling that they're apparently using that as the reason for denial if it was there when they gave you a prior CLI.

I only have one Citi card and my limit is much lower than yours, but I have gotten CLI's from them...they started my account at $1,000 & there's been an auto-increase and a SP one I requested. And I DO have a public record - a paid state tax lien from 2010. It would seem to me that the reason they're giving you isn't the real one, for whatever reason. Maybe you're just at your internal limit with them or something, but why not just say that?! I'm sure it's very frustrating for you.

Re: Citi CLI denied - questions (updated with a question for others)

Anonymous — Thu, 02 Jun 2016 17:15:14 GMT

@LuckyBird wrote:
Pretty puzzling that they're apparently using that as the reason for denial if it was there when they gave you a prior CLI.

I only have one Citi card and my limit is much lower than yours, but I have gotten CLI's from them...they started my account at $1,000 & there's been an auto-increase and a SP one I requested. And I DO have a public record - a paid state tax lien from 2010. It would seem to me that the reason they're giving you isn't the real one, for whatever reason. Maybe you're just at your internal limit with them or something, but why not just say that?! I'm sure it's very frustrating for you.

Actually the funny thing is I am not frustrated with them, more like confused. I mean, if they came back and said they felt I had a more than sufficient credit limit for that card (thus maybe the internal limit) then I'd be like cool, no big deal, I'll try again in 2017.

Maybe they clung to that "reason" because they can stand firm behind that logic versus the internal limit song and dance? I agree I don't believe that is the real reason but it is literally the only thing on my reports that any lender could cling to that is "negative" in writing (and yes, other lenders can easily decide I have too much revolving credit, etc. but that is not a "negative reporting item").

Amusing and always want to share all the good and bad equally.

Re: Citi CLI denied - questions (updated with a question for others)

RonM21 — Sun, 05 Jun 2016 14:53:40 GMT

I think for whatever reason they didn't want to approve, and went with the obvious reasons not to, even though to your point, it wasn't an issue before. It was the easy way out, but in hopes to give it the appearance that it is legit, so that you would be understanding.

Re: Citi CLI denied - questions

Anonymous — Sun, 05 Jun 2016 15:05:16 GMT

My theory is that, based on your profile and the math wizardry done by the underwriting department, Citi had already extended as much credit as it felt comfortable with the last CLI (and that was a pretty awesome CLI--congrats by the way). Once the collections falls off next year, revisit and you'll probably meet your goals with the card. I wouldn't push too hard right now and make them revisit the decision to extend 17k...

Re: Citi CLI denied - questions

Anonymous — Sun, 05 Jun 2016 15:08:52 GMT

@Anonymous wrote:
My theory is that, based on your profile and the math wizardry done by the underwriting department, Citi had already extended as much credit as it felt comfortable with the last CLI (and that was a pretty awesome CLI--congrats by the way). Once the collections falls off next year, revisit and you'll probably meet your goals with the card. I wouldn't push too hard right now and make them revisit the decision to extend 17k...

Oh I completely agree and in no way am I going to call them again or revisit this until 3/2017. As I previously posted I have zero issue if they had responded with something along those lines of we have extended as much credit as we feel sufficient, etc.

Thanks to all the replies!