topic Re: Citi Forward Denial Reasons in Credit Cards

Citi Forward Denial Reasons

msheresy — Tue, 14 Apr 2009 18:31:51 GMT

So, as I mentioned here , I applied for the Citi Forward and was denied. I recieved the email with the denial reasons and it reads as follows:

* Your credit report shows your accounts have a low credit limit

* Your credit report shows too few credit refrences

Any input on what these exactly mean before I call them to attempt a worthless recon?

Re: Citi Forward Denial Reasons

Anonymous — Tue, 14 Apr 2009 18:35:15 GMT

The first indicates that your existing CL's are most likely low limit cards. Some CC's require you to have an existing CL that exceeds the minimum CL that card issues. For example, it the CC you app'ed for issues CL of $1k or more and your current highest CL is $500, they may decline you because if no other lender has trusted you with $1k or more yet, they don't want to go first.

The second indicates you don't have enough credit references: not enough accounts with age to be considered a reference. If your accounts are relatively new, these are liabilities (potential debt trouble) not references. Until you have a few accounts with some history, they don't count. Also, AU accounts do not count as references.

Re: Citi Forward Denial Reasons

msheresy — Tue, 14 Apr 2009 18:39:58 GMT

My accounts are

Cap1 1100 over yr old

HSBC 500 year old

Under A Yr old

Amex 1000 Yr in June

Chase 750 Yr in Sep

Boa 99/500 Yr in Aug

Juni BnN 800 yr in Jan

Care Credit 4000 yr in Jan

Sportsmans Guide 2000 Just opened this mth.

Considering all of that, would a phone call even be worth it?

Re: Citi Forward Denial Reasons

Anonymous — Tue, 14 Apr 2009 18:43:45 GMT

Always recon....what do you have to lose? They can't take away your birthday for calling in and you never know....maybe you get something

Re: Citi Forward Denial Reasons

msheresy — Tue, 14 Apr 2009 18:50:59 GMT

Yeah, I just hate getting denied twice! Which number should I use to call?

Re: Citi Forward Denial Reasons

Creditaddict — Tue, 14 Apr 2009 18:53:08 GMT

I had NO Luck with Recon my application for the Myspace credit card, they said they don't have a department you can talk to about those decisions

Re: Citi Forward Denial Reasons

Anonymous — Tue, 14 Apr 2009 19:22:57 GMT

Don't take it personally....consider it a calculated risk and one no closer to yes. As Thomas Edison said, he learned 10,000 ways "not" to invent a light bulb before he succeeded.

Each success is a series of steps, and while the final step delivers the satisfaction and final destination, it is no more important that every step preceding it, most especially the first.

Re: Citi Forward Denial Reasons

msheresy — Tue, 14 Apr 2009 21:24:49 GMT

@Creditaddict wrote:
I had NO Luck with Recon my application for the Myspace credit card, they said they don't have a department you can talk to about those decisions

Ahhh just remembered. I called for the status when it didnt get instant approval. The very polite CSR told me to call 1-888-201-4523 to find out if I was approved. There is an option to speak with someone if you were denied. I cant believe I forgot about that! I just happened to see a random # written on a scratch notepad on my desk here at work and I called it becuase I wasnt sure if that was the number and TADAAAA. Gonna call on my way home from work. Wish me luck.

ps dont call 1-888-207-4523 there was some recording about paying $4.99.

Re: Citi Forward Denial Reasons

Creditaddict — Tue, 14 Apr 2009 21:46:01 GMT

well I called again... the call center is not in US, it's hard to even communicate why I am calling. she didn't even know that we had 3 different credit reporting agency's.

I just got madder and madder having to be on the phone with someone that barely knows what a credit card is let alone how one gets approved. she was good to read back my denial letter.

I asked to be transferred,we will see if that gets me into a different call center or just her supervisor.

I hate dealing with banks you can't talk to people that have power with your application

Re: Citi Forward Denial Reasons

Creditaddict — Tue, 14 Apr 2009 21:47:59 GMT

according to supervisor, Citi WILL NOT give a credit card to someone with ANY BK on there reports.

I think this is false but someone chime in and let me know

Re: Citi Forward Denial Reasons

Anonymous — Tue, 14 Apr 2009 23:43:50 GMT

So you didn't invent the light bulb today. Don't take it too hard. Just keep practicing the credit basics.

Also, I suggest CU's. A good CU will take a little time to build relationships with, maybe only with a Savings account, but it will ultimately go somewhere, as opposed to HSBC, Orchard, etc. and all the "builder" cards that you will at some point finally dump because they are dead end cards. Yeah, you can get 'em when your credit stinks, but then they stink when your credit is prime.

Re: Citi Forward Denial Reasons

Creditaddict — Tue, 14 Apr 2009 23:47:27 GMT

@Anonymous wrote:
So you didn't invent the light bulb today. Don't take it too hard. Just keep practicing the credit basics.

Also, I suggest CU's. A good CU will take a little time to build relationships with, maybe only with a Savings account, but it will ultimately go somewhere, as opposed to HSBC, Orchard, etc. and all the "builder" cards that you will at some point finally dump because they are dead end cards. Yeah, you can get 'em when your credit stinks, but then they stink when your credit is prime.

FOR SURE!!

I applied in a weak second because of someone with a lower score getting approved but in the end we know score doesn't play into much a lot of the time. Citi doesn't even order your scores, they build there own score with your credit report.

I'm working on my Alliant relationship now!

Re: Citi Forward Denial Reasons

Anonymous — Wed, 15 Apr 2009 00:55:24 GMT

In response the question about bankruptcoes.....I asked my sister who works for CITI and she said it IS true....officially anyway. She also said that if you bark your way up the tree and everything else looks good on the report, you may get a high level superivisor who MAY overturn the decision. But it happens far and few between.

Message Edited by teacherhere on 04-14-2009 05:55 PM

Re: Citi Forward Denial Reasons

Creditaddict — Wed, 15 Apr 2009 01:09:32 GMT

I just wanted back in, and they don't seem to black list because not one rep or letter mentioned a bad citi account for the reason of denial. Might just have to back my way in and see if they still offer joint accounts and add myself to my moms account and then remove her down the road.

Re: Citi Forward Denial Reasons

Anonymous — Wed, 15 Apr 2009 13:25:25 GMT

We have all suffered "credit envy" or at least the 'ole...if s/he got one, maybe I could.......

Don't take the bait....wait, hold to your plan. Cliche is truth we no longer want to hear, "good things come to those who wait"