topic Re: Discover/ Citi Declined in Credit Cards

Discover/ Citi Declined (UPDATE)

Anonymous — Tue, 11 Aug 2009 11:56:10 GMT

I recently (yeterday) went on an application spree...

I got the Amazon store Card - 2000 CL

The Chase Amazon Visa Card - Temp limit of 1700 (does anybody know how to find out what my actual limit is?)

I applied for Citi after these two cards - declined

I applied for Discover - Declined

I currently have:

BOA Total Rewards - 4000 CL (since oct 2007) - 0 Balance

Macy's - 100 CL (since Jan 07) - my lowest credit limit but my oldest account so dont want to get rid of it

WAMU/Chase - 1000 CL (since Nov 2007) - Balance reported to Credit Bureaus - 735.00 (Current due 450)

AMEX Blue - 1000 CL (Since Oct 2007) - Balance reported to Credit Bureaus - 650.00 (Current due 600)

Kay Jewellers - 1700 CL (Since Dec 2007) - 0 Balance

Capital One - 750 CL (Since May 2008) - Balance reported to Credit Bureaus - 225.00 (Paid in full)

1 Auto Loan (Capital One) - 27,000 (Paid May 2009)

1 Auto Loan (Honda Financial) - 27000 (Since May 2009)

at the time of application, I had a FICO score of 706 in Equifax and 709 in Transunion.

I really do want the Citi and discover cards because I have heard great things about both of them - that will complete my credit profile very well. Oh well... Just wanted to update in case anybody wanted to know :-)

I guess I will try applying in 6 months when a few of my inquiries will fall off and after I let my 2 new accounts age

UPDATE: My brother called discover on my behalf (I swear he is so much better than I am)

Got the Discover more 1000 CL

Citi - NO go... too many inquiries and recent accounts was asked to try one year later...

Message Edited by Credit_repair on 08-11-2009 04:56 AM

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 13:29:32 GMT

Sorry to hear it OP!

Any luck trying to wrangle a CLI from Macy's? The popular opinion around here is that they routinely give CLI's with 3 month's worth of usage.

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 14:58:44 GMT

Thanks FretlessMayhem...

I havent really tried getting a CLI from Macy's... Maybe I will go there this weekend... My card has been dormant since I dont shop much these days...

Any idea how I can check my Credit Limit for my Chase Amazon Visa? it says I was approved for a temporary limit of $1700.00

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 16:46:56 GMT

You should find out what the specific reasons are that you were declined by Citi and Discover. I would call and speak to a credit analyst - they might recon.

You don't need to go to Macy's for that. Just call the CS number and ask if they have a "guideline increase" available for you. You should probably get something.

Re: Discover/ Citi Declined

BungalowMo — Mon, 27 Jul 2009 17:15:47 GMT

Try calling (whatever ph # was available on the website) for the actual limit on the chase/amazon...that's what I did for my chase/BP visa. I was approved & they said it would be mailed....bla...bla. The very next day I called & got my CL & the statement reporting day. Couldn't get the acct # yet as the card hadn't been assigned yet!

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 18:38:58 GMT

Thank you all for your comments...

I called Chase and my temporary limit is my permanent limit... not that good but it still adds to my Available credit!

I dont know what to do with Citi and Discover. I guess I am just going to let it go... if they dont want my business, I will just take it elsewhere

I will try calling Macy's for a GLI...

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 19:36:48 GMT

@Anonymous wrote:
Thank you all for your comments...

I called Chase and my temporary limit is my permanent limit... not that good but it still adds to my Available credit!

I dont know what to do with Citi and Discover. I guess I am just going to let it go... if they dont want my business, I will just take it elsewhere

I will try calling Macy's for a GLI...

You already took the INQ's for these app's. The reasons for your denials may be very minor and explainable. You must call them! Never waste an app!

Message Edited by creditwherecreditisdue on 07-27-2009 03:36 PM

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 19:52:41 GMT

@Anonymous wrote:
@Anonymous wrote:
Thank you all for your comments...

I called Chase and my temporary limit is my permanent limit... not that good but it still adds to my Available credit!

I dont know what to do with Citi and Discover. I guess I am just going to let it go... if they dont want my business, I will just take it elsewhere

I will try calling Macy's for a GLI...
You already took the INQ's for these app's. The reasons for your denials may be very minor and explainable. You must call them! Never waste an app!
Message Edited by creditwherecreditisdue on 07-27-2009 03:36 PM

You have nothing to lose--there is no response below "no". You might want to have a strategy prior to calling. Just from a cursory look at you posting, you are at 75% UTIL on Chase and 65% UTIL on Amex. Ask the analyst if substanitally reducing those UTILs will change their mind. Also, maybe lower those UTILs by BT with your BofA.

Message Edited by illtakecreditforthat on 07-27-2009 12:52 PM

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 20:17:42 GMT

I also agree. You really have nothing to lose with attempting reconsideration. You've already taken the hard inq.

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 20:21:12 GMT

thanks all...

Any idea what numbers I should call? maybe the backdoor numbers?

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 20:24:35 GMT

I think there are backdoor numbers in that thread for both. If you can find a BD number use it.

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 20:29:44 GMT

Just an update:

I called discover and I was declined because of a recently opened auto loan with a high balance... Of course it will be a high balance its an auto loan! surely they dont expect a 2 month auto loan to have a low balance... wtf

I dont get these people. Oh well, I dont need their credit... I have plenty elsewhere!

I dont think I am going to bother with Citi...

I will just try again in a year's time when my auto loan will be matured and also will have a much lower balance...

Re: Discover/ Citi Declined

Anonymous — Mon, 27 Jul 2009 22:48:50 GMT

You need to call Citi.

You need to realized there is heightened sensitivity to new credit these days specially regarding those with short histories and thin files.

Re: Discover/ Citi Declined

Anonymous — Tue, 28 Jul 2009 01:28:07 GMT

@Anonymous wrote:
Just an update:

I called discover and I was declined because of a recently opened auto loan with a high balance... Of course it will be a high balance its an auto loan! surely they dont expect a 2 month auto loan to have a low balance... wtf

I dont get these people. Oh well, I dont need their credit... I have plenty elsewhere!

I dont think I am going to bother with Citi...

I will just try again in a year's time when my auto loan will be matured and also will have a much lower balance...

From your original post it appears that you acquired a new auto loan after paying off a previous auto loan. I was denied a credit card because I had recently leased 2 autos. However, I had previously paid 2 existing loans in full. I successfully argued on recon that the new auto leases was merely "substituted" loans for previously "satisfactory paid" loans. I was approved for the card. I'd retry Discover. All you have to lose is perhaps 20 minutes.

Message Edited by illtakecreditforthat on 07-27-2009 06:28 PM

Re: Discover/ Citi Declined

Anonymous — Tue, 28 Jul 2009 01:31:35 GMT

Don't be afraid to push a little and self advocate. You have absolutely nothing to lose and a CC to gain. You made the effort to apply - don't be afraid to make the effort to perfect your application!

Re: Discover/ Citi Declined

Anonymous — Tue, 28 Jul 2009 12:53:24 GMT

Hi all...

thanks for the encouragement...

I called back citi and I was declined because I have too many inquiries (one from the auto loan in may, two for my recent amazon cards) and I have too many open lines of credit.

No way to reconsider decision now... the credit analyst said that I may try back in 6 months after closing some of my credit cards. Ideally they say they only want to see 3 open credit lines.

I am not going to try reapplying in six months as I dont see myself closing all my lines of credit to please them.

Re: Discover/ Citi Declined

Anonymous — Tue, 28 Jul 2009 14:06:49 GMT

@Anonymous wrote:
Hi all...

thanks for the encouragement...

I called back citi and I was declined because I have too many inquiries (one from the auto loan in may, two for my recent amazon cards) and I have too many open lines of credit.

No way to reconsider decision now... the credit analyst said that I may try back in 6 months after closing some of my credit cards. Ideally they say they only want to see 3 open credit lines.

I am not going to try reapplying in six months as I dont see myself closing all my lines of credit to please them.

This suggestion is preposterous. I don't doubt that it was said, but it certainly isn't true. When I got my Citi DP card in December I had six revolving plus a car loan and others have many more. Don't close anything and reapp in six months if you like. Ridiculous.

Re: Discover/ Citi Declined

Anonymous — Tue, 28 Jul 2009 15:07:07 GMT

Hi Creditwherecreditisdue,

thanks for all your support! Really appreciate it.

I dont think it's a good idea to close all my credit lines to please a prospective creditor... I will definately try back in 6-9 months and reapply, by then my auto loan as well as 2 new credit cards would be mature and updated...

the effect of my applications as well as carrying the balances to my amex and chase caused my Equifax fico to drop to 691 but I expect to pay both cards in full before the statement drops this time (I had made the purchases 2 days before the statement dropped ) so I should see a slight jump in scores.

Message Edited by Credit_repair on 07-28-2009 08:07 AM

Re: Discover/ Citi Declined

Anonymous — Tue, 28 Jul 2009 15:24:09 GMT

Talk about inconsistent behavior. I've had the CITI Diamond Preferred card for several years. A few months ago I app'd for the CITI HHonors card. I was declined for "too few satisfactory accounts" When I called, I was told that this particular card required a minimum of 8 open accounts (I only had 7 a the time).

Re: Discover/ Citi Declined

Anonymous — Tue, 28 Jul 2009 15:30:09 GMT

I think they go to a big spinner, give it a whirl and when it stops it offers up the excuse du jour.

Three? Eight? What's the difference...

Message Edited by creditwherecreditisdue on 07-28-2009 11:30 AM