topic Re: My experience with Citi recon in Credit Cards

My experience with Citi recon

mjban — Wed, 25 Sep 2013 23:56:56 GMT

Three weeks ago, I applied for a Best Buy Credit Card, now manage by Citi. The day before I applied, I was approved for a Citi Diamond Preferred and I was unaware of Citi app policy (no more than 2 within 24-48 hours).

The BB app was denied. I waited for the letter to call and try. A very cool guy form the number on the letter told me that he didn't see reasons why I would be denied if I apply in the following weeks but Citi policies prevented him from approving any app. Then I decided to call the main office in NY, no luck. I called the main office in South Dakota, a very nice lady told that she personally will review my app and she will get back to me in the next two days. She called me today to tell me that, they can't approve me because of my recent credit inquires, she recommend me to wait 30 days for those inquires not to have effects in my app and try again (which of course I won't do).

The sad part of the story is that I just checked my credit report and saw another HP from Citi yesterday. What an incredible waste of time with Citi.

Will be okay to dispute this?

Re: My experience with Citi recon

parakleet — Wed, 25 Sep 2013 23:59:30 GMT

Typically, a recon may result in another inquiry. Don't know what they told you on the phone though. If they told you that it would be another inq, then I don't see how you could dispute.

Re: My experience with Citi recon

Anonymous — Thu, 26 Sep 2013 00:00:24 GMT

Sorry to hear about that. The inquiries are legitimate so you will have no basis to dispute them. It is common for any lender to pull new inquiries during recon process.

Re: My experience with Citi recon

youngandcreditwrthy — Thu, 26 Sep 2013 01:27:39 GMT

I must disagree with enharu.
Factually speaking, I got equifax to remove one of three inquiries posted by Citi on recon.
The difference may be, however, is that they specifically told me I would not incur additional inquiries, and I even sent them a copy of the EQ report I obtained.
I disputed it with EQ via fax number posted here in the forums. Citi didn't even acknowledge the inq when I questioned it. They are the stupidest, disorganized bank around.
Spare yourself the dramz and don't deal with Chiti.

Re: My experience with Citi recon

FinStar — Thu, 26 Sep 2013 03:28:38 GMT

@Anonymous wrote:
Sorry to hear about that. The inquiries are legitimate so you will have no basis to dispute them. It is common for any lender to pull new inquiries during recon process.

Some lenders will abide by a specific underwrtiing policy to re-review your CR since you are essentially requesting the lender to reconsider the original decision. I'll have to agree with enharu, since you provided permissible purpose to have it reviewed, it's simply another inquiry. Not sure why people freak out over this, unless the pulls were excessive which may have resulted in say 3+ in one CR for no basis. Now, they could potentially remove it but everyone's experience with Citi will vary in that aspect... Good luck either way.

Re: My experience with Citi recon

Anonymous — Thu, 26 Sep 2013 03:51:03 GMT

I do not think you will get anywhere with this. I had a similar situation in July. After realizing that my BK fell off - the first thing I did was app for a Citi Card. I did not even pay attention to which one - I just went for the first on the page - the Simplicity and was instantly approved. Both in my excitement about having gotten back in with Citi and after realizing that I might be better off with the Thank You Preferred - I apped for that one the next day.. The rest of the story is pretty much like yours.

Re: My experience with Citi recon

youngandcreditwrthy — Fri, 27 Sep 2013 04:11:44 GMT

Well, mine were excessive. I wound up with four hard pulls and an EQ fico score decrease from like 700+ to 672.
I can't help but point out that FinStar and Enharu seem PRObanks! Lol

Re: My experience with Citi recon

FinStar — Fri, 27 Sep 2013 04:23:09 GMT

@youngandcreditwrthy wrote:
Well, mine were excessive. I wound up with four hard pulls and an EQ fico score decrease from like 700+ to 672.
I can't help but point out that FinStar and Enharu seem PRObanks! Lol

Trolling again youndandcreditwrthy? I was under the assumption that your character would be above that...lol

Re: My experience with Citi recon

CreditScholar — Fri, 27 Sep 2013 04:24:58 GMT

@FinStar wrote:
@youngandcreditwrthy wrote:
Well, mine were excessive. I wound up with four hard pulls and an EQ fico score decrease from like 700+ to 672.
I can't help but point out that FinStar and Enharu seem PRObanks! Lol
Trolling again youndandcreditwrthy? I was under the assumption that your character would be above that...lol

There's nothing wrong with being pro-banks.

Re: My experience with Citi recon

Anonymous — Fri, 27 Sep 2013 04:25:33 GMT

@FinStar

Oh boy!

Re: My experience with Citi recon

youngandcreditwrthy — Fri, 27 Sep 2013 04:35:35 GMT

Haha you know me, always a trollin'
Or more like procrastinating -.-
I'm actually hoping to get a banking job and change jobs once I grad :-p

Re: My experience with Citi recon

navigatethis12 — Fri, 27 Sep 2013 05:08:20 GMT

@CreditScholar wrote:
@FinStar wrote:
@youngandcreditwrthy wrote:
Well, mine were excessive. I wound up with four hard pulls and an EQ fico score decrease from like 700+ to 672.
I can't help but point out that FinStar and Enharu seem PRObanks! Lol
Trolling again youndandcreditwrthy? I was under the assumption that your character would be above that...lol
There's nothing wrong with being pro-banks.

I'm not sure if youngandcreditwrthy was serious, but a lot of people these days seem to dislike people who like banks. Sometimes I'll look at other forums, such as cooking/baking or video games and people post about credit cards or chequing accounts there. Most of the responses say that credit cards are evil and that credit scores enslave people to carry debt and all sorts of rubbish. If the person complains the bank closed their account because of "only" a few overdrafts, everyone will say it's silly and go credit union. Anyone who agrees with the bank is criticised and accused of working for a bank.

I personally am almost always on the bank's side whenever I read stories of adverse action or other "bad" experiences. People seem to complain about everything and think that whatever the bank does is wrong and they should be treated like Zeus. I would love to be a credit analyst at a bank but there are no big banks(except PNC) 'round where I live. The other option is to start my own credit card company, but I reckon that's a long way off.

Re: My experience with Citi recon

CreditScholar — Fri, 27 Sep 2013 05:52:04 GMT

@navigatethis12 wrote:
@CreditScholar wrote:
@FinStar wrote:
@youngandcreditwrthy wrote:
Well, mine were excessive. I wound up with four hard pulls and an EQ fico score decrease from like 700+ to 672.
I can't help but point out that FinStar and Enharu seem PRObanks! Lol
Trolling again youndandcreditwrthy? I was under the assumption that your character would be above that...lol
There's nothing wrong with being pro-banks.
I'm not sure if youngandcreditwrthy was serious, but a lot of people these days seem to dislike people who like banks. Sometimes I'll look at other forums, such as cooking/baking or video games and people post about credit cards or chequing accounts there. Most of the responses say that credit cards are evil and that credit scores enslave people to carry debt and all sorts of rubbish. If the person complains the bank closed their account because of "only" a few overdrafts, everyone will say it's silly and go credit union. Anyone who agrees with the bank is criticised and accused of working for a bank.

I personally am almost always on the bank's side whenever I read stories of adverse action or other "bad" experiences. People seem to complain about everything and think that whatever the bank does is wrong and they should be treated like Zeus. I would love to be a credit analyst at a bank but there are no big banks(except PNC) 'round where I live. The other option is to start my own credit card company, but I reckon that's a long way off.

That sounds very much like the pleb attitude towards money, and I hear it all of the time too. Successful people usually have quite different views regarding banks, money and credit. These people have already lost the battle, they just don't realize it yet.

Re: My experience with Citi recon

FinStar — Fri, 27 Sep 2013 06:11:05 GMT

@CreditScholar wrote:
@navigatethis12 wrote:
@CreditScholar wrote:
@FinStar wrote:
@youngandcreditwrthy wrote:
Well, mine were excessive. I wound up with four hard pulls and an EQ fico score decrease from like 700+ to 672.
I can't help but point out that FinStar and Enharu seem PRObanks! Lol
Trolling again youndandcreditwrthy? I was under the assumption that your character would be above that...lol
There's nothing wrong with being pro-banks.
I'm not sure if youngandcreditwrthy was serious, but a lot of people these days seem to dislike people who like banks. Sometimes I'll look at other forums, such as cooking/baking or video games and people post about credit cards or chequing accounts there. Most of the responses say that credit cards are evil and that credit scores enslave people to carry debt and all sorts of rubbish. If the person complains the bank closed their account because of "only" a few overdrafts, everyone will say it's silly and go credit union. Anyone who agrees with the bank is criticised and accused of working for a bank.

I personally am almost always on the bank's side whenever I read stories of adverse action or other "bad" experiences. People seem to complain about everything and think that whatever the bank does is wrong and they should be treated like Zeus. I would love to be a credit analyst at a bank but there are no big banks(except PNC) 'round where I live. The other option is to start my own credit card company, but I reckon that's a long way off.
That sounds very much like the pleb attitude towards money, and I hear it all of the time too. Successful people usually have quite different views regarding banks, money and credit. These people have already lost the battle, they just don't realize it yet.

Right on the money (no pun intended) as always CreditScholar

Re: My experience with Citi recon

youngandcreditwrthy — Fri, 27 Sep 2013 14:44:54 GMT

I was jk :-p
Have you seen how many credit cards I have? LOL
I'm always the one telling my friends how they need to build their credit or they're going to be payiing for it forever.
I'm sure when my friends realized last weekend that my Skymiles paid for the nicest hotel they've ever been in, they might need to start considering it.
Credit improves standards of living imo.
Obviously, you have to manage it actively and responsibly.
As far as getting what you want, you just gotta talk to the right person at a bank sometimes:-p

Re: My experience with Citi recon

navigatethis12 — Fri, 27 Sep 2013 15:20:30 GMT

@CreditScholar wrote:

That sounds very much like the pleb attitude towards money, and I hear it all of the time too. Successful people usually have quite different views regarding banks, money and credit. These people have already lost the battle, they just don't realize it yet.

LOL I love that word. I was thinking the same thing, but just didn't want to say it.

@youngandcreditwrthy wrote:
I was jk :-p
Have you seen how many credit cards I have? LOL
I'm always the one telling my friends how they need to build their credit or they're going to be payiing for it forever.
I'm sure when my friends realized last weekend that my Skymiles paid for the nicest hotel they've ever been in, they might need to start considering it.
Credit improves standards of living imo.
Obviously, you have to manage it actively and responsibly.
As far as getting what you want, you just gotta talk to the right person at a bank sometimes:-p

I try to say the same thing with people and how much cashback I earn. However, they get stuck on the "credit card bill" part of it. To them, they like to use a debit card, cheque, or cash, beecause then the money is gone instantly. They, for some reason, believe that a bill at the end of the month for 1,000 is different than spending 100 ten different times. My parents are the worst at this and they would make massive amounts of cashback if they used cards for business purchases. They're from time before banks existed though, so I can't really blame them.

Re: My experience with Citi recon

youngandcreditwrthy — Fri, 27 Sep 2013 15:43:01 GMT

Pahahaha my mom is the same... This is why my credit score is so much higher than hers even though she makes/spends more. Lol
I don't think they are necessarily debt averse, they just would rather have different types of debt, such as huge auto loans or mortgage loans. Haha

Re: My experience with Citi recon

Anonymous — Fri, 27 Sep 2013 19:06:06 GMT

@navigatethis12 wrote:
@CreditScholar wrote:
@FinStar wrote:
@youngandcreditwrthy wrote:
Well, mine were excessive. I wound up with four hard pulls and an EQ fico score decrease from like 700+ to 672.
I can't help but point out that FinStar and Enharu seem PRObanks! Lol
Trolling again youndandcreditwrthy? I was under the assumption that your character would be above that...lol
There's nothing wrong with being pro-banks.
I'm not sure if youngandcreditwrthy was serious, but a lot of people these days seem to dislike people who like banks. Sometimes I'll look at other forums, such as cooking/baking or video games and people post about credit cards or chequing accounts there. Most of the responses say that credit cards are evil and that credit scores enslave people to carry debt and all sorts of rubbish. If the person complains the bank closed their account because of "only" a few overdrafts, everyone will say it's silly and go credit union. Anyone who agrees with the bank is criticised and accused of working for a bank.

I personally am almost always on the bank's side whenever I read stories of adverse action or other "bad" experiences. People seem to complain about everything and think that whatever the bank does is wrong and they should be treated like Zeus. I would love to be a credit analyst at a bank but there are no big banks(except PNC) 'round where I live. The other option is to start my own credit card company, but I reckon that's a long way off.

+1. Personally I feel that AA happens for a valid reason. For banks, they are constantly weighing their risks vs. rewards. Whenever a customer's risk grossly exceeds the perceived rewards, banks will then usually initiate a financial review, which may result in adverse action. I'm not exactly pro- or anti-banks per say, but things are always a lot better when viewed from a neutral perspective.

The problem with a lot of people is that they get very emo and bitter like some crazy scorn ex once any kind of adverse action is taken against them, such as:

"OMG THIS BANK CLOSED MY ACCOUNT THEY ARE THE WORST **bleep** BANK TO DEAL WITH"

"OMG THEY CLD ME THEY ARE UNREASONABLE IM A GOOD CUSTOMER. ALL I'VE BEEN BOUCNING BALANCES ON DIFFERENT ACCOUNTS BUT ITS NO HARM CUZ ITS 0%!!!!!!."

"OMG THEY SUCK BECAUSE THEY REFUSE TO GIVE ME A SP CLI"
"OMG THESE INQUIRIES ARE RIDICULOUS. THEY ARE NOT SUPPOSED TO DOUBLE / TRIPLE OR EVEN HP ME AT ALL FOR ANY APP / RECON"

I'm not referring to anyone specifically in mind, but this is really the kind of stupid stuff that people often write about simply because they're pissed. They react illogically, just like any bitter ex would, and starts becoming a drama queen for no good reason. This isn't just for banks either. Many people were pissed too when Amazon banned accounts due to excessive returns / claims, and also when Best buy reduced return policy time time limits to discourage showrooming, etc.

The other sad thing is that they expect everyone else to have a bad experience, just because they had one. Or that they get extremely excited when they read about another bad review. Trolls like these are everywhere, but at the very least it isn't as ugly on this forums as compared to certain sites.

@youngandcreditwrthy wrote:
Haha you know me, always a trollin'
Or more like procrastinating -.-
I'm actually hoping to get a banking job and change jobs once I grad :-p

Didn't you already graduated?

You have 140k income as a leasing agent without a college cert? Not saying it's not possible, but just curious and also want to make sure I have the correct facts. Not important anyhow. No need to answer.

@FinStar wrote:
@CreditScholar wrote:
That sounds very much like the pleb attitude towards money, and I hear it all of the time too. Successful people usually have quite different views regarding banks, money and credit. These people have already lost the battle, they just don't realize it yet.

+1
Right on the money (no pun intended) as always CreditScholar

+2.

People are usually very bitter when they want something but can't have it. They bitch about it 24/7, and their lives remain as miserable.

Only a small minority will work towards that goal and make it happen.

Re: My experience with Citi recon

CreditScholar — Mon, 30 Sep 2013 02:20:01 GMT

@navigatethis12 wrote:
@CreditScholar wrote:

That sounds very much like the pleb attitude towards money, and I hear it all of the time too. Successful people usually have quite different views regarding banks, money and credit. These people have already lost the battle, they just don't realize it yet.

LOL I love that word. I was thinking the same thing, but just didn't want to say it.

@youngandcreditwrthy wrote:
I was jk :-p
Have you seen how many credit cards I have? LOL
I'm always the one telling my friends how they need to build their credit or they're going to be payiing for it forever.
I'm sure when my friends realized last weekend that my Skymiles paid for the nicest hotel they've ever been in, they might need to start considering it.
Credit improves standards of living imo.
Obviously, you have to manage it actively and responsibly.
As far as getting what you want, you just gotta talk to the right person at a bank sometimes:-p
I try to say the same thing with people and how much cashback I earn. However, they get stuck on the "credit card bill" part of it. To them, they like to use a debit card, cheque, or cash, beecause then the money is gone instantly. They, for some reason, believe that a bill at the end of the month for 1,000 is different than spending 100 ten different times. My parents are the worst at this and they would make massive amounts of cashback if they used cards for business purchases. They're from time before banks existed though, so I can't really blame them.

I have a habit of saying lots of things that people are thinking, but don't have the guts to say. That trait has served me quite well in my professional career so far.

Re: My experience with Citi recon

FinStar — Mon, 30 Sep 2013 02:29:36 GMT

@Anonymous wrote:
@navigatethis12 wrote:
@CreditScholar wrote:
@FinStar wrote:
@youngandcreditwrthy wrote:
Well, mine were excessive. I wound up with four hard pulls and an EQ fico score decrease from like 700+ to 672.
I can't help but point out that FinStar and Enharu seem PRObanks! Lol
Trolling again youndandcreditwrthy? I was under the assumption that your character would be above that...lol
There's nothing wrong with being pro-banks.
I'm not sure if youngandcreditwrthy was serious, but a lot of people these days seem to dislike people who like banks. Sometimes I'll look at other forums, such as cooking/baking or video games and people post about credit cards or chequing accounts there. Most of the responses say that credit cards are evil and that credit scores enslave people to carry debt and all sorts of rubbish. If the person complains the bank closed their account because of "only" a few overdrafts, everyone will say it's silly and go credit union. Anyone who agrees with the bank is criticised and accused of working for a bank.

I personally am almost always on the bank's side whenever I read stories of adverse action or other "bad" experiences. People seem to complain about everything and think that whatever the bank does is wrong and they should be treated like Zeus. I would love to be a credit analyst at a bank but there are no big banks(except PNC) 'round where I live. The other option is to start my own credit card company, but I reckon that's a long way off.
+1. Personally I feel that AA happens for a valid reason. For banks, they are constantly weighing their risks vs. rewards. Whenever a customer's risk grossly exceeds the perceived rewards, banks will then usually initiate a financial review, which may result in adverse action. I'm not exactly pro- or anti-banks per say, but things are always a lot better when viewed from a neutral perspective.

The problem with a lot of people is that they get very emo and bitter like some crazy scorn ex once any kind of adverse action is taken against them, such as:
"OMG THIS BANK CLOSED MY ACCOUNT THEY ARE THE WORST **bleep** BANK TO DEAL WITH"
"OMG THEY CLD ME THEY ARE UNREASONABLE IM A GOOD CUSTOMER. ALL I'VE BEEN BOUCNING BALANCES ON DIFFERENT ACCOUNTS BUT ITS NO HARM CUZ ITS 0%!!!!!!."
"OMG THEY SUCK BECAUSE THEY REFUSE TO GIVE ME A SP CLI"
"OMG THESE INQUIRIES ARE RIDICULOUS. THEY ARE NOT SUPPOSED TO DOUBLE / TRIPLE OR EVEN HP ME AT ALL FOR ANY APP / RECON"

I'm not referring to anyone specifically in mind, but this is really the kind of stupid stuff that people often write about simply because they're pissed. They react illogically, just like any bitter ex would, and starts becoming a drama queen for no good reason. This isn't just for banks either. Many people were pissed too when Amazon banned accounts due to excessive returns / claims, and also when Best buy reduced return policy time time limits to discourage showrooming, etc.

The other sad thing is that they expect everyone else to have a bad experience, just because they had one. Or that they get extremely excited when they read about another bad review. Trolls like these are everywhere, but at the very least it isn't as ugly on this forums as compared to certain sites.

@youngandcreditwrthy wrote:
Haha you know me, always a trollin'
Or more like procrastinating -.-
I'm actually hoping to get a banking job and change jobs once I grad :-p
Didn't you already graduated?
You have 140k income as a leasing agent without a college cert? Not saying it's not possible, but just curious and also want to make sure I have the correct facts. Not important anyhow. No need to answer.

@FinStar wrote:
@CreditScholar wrote:
That sounds very much like the pleb attitude towards money, and I hear it all of the time too. Successful people usually have quite different views regarding banks, money and credit. These people have already lost the battle, they just don't realize it yet.

+1
Right on the money (no pun intended) as always CreditScholar

+2.
People are usually very bitter when they want something but can't have it. They bitch about it 24/7, and their lives remain as miserable.
Only a small minority will work towards that goal and make it happen.

Can we post this on a sticky? very excellent points by enharu, CreditScholar, navigatethis12 as always.