topic Re: Citi Diamond Preferred - Limited Credit History in Credit Cards

Citi Diamond Preferred - Limited Credit History

DaylightSlaving — Wed, 20 Nov 2013 00:05:39 GMT

Hey guys!

So, I pulled the trigger and applied for the Citi Diamond Preferred. Unfortunately, I was declined; based on what the CSR told me, it was based on Exp reporting a "limited credit history."

Whhhhaaaaat?

Correct me if I'm wrong, as I may be misunderstanding something here. But, it sounds as though Citi received a report showing limited history, as in - my AAoA is low.

I established credit over a year ago with a car loan, which I was able to refi. During the refi, Exp was pulled, and the refi went along swimmingly (it was actually really awesome!). So I'm kind of calling BS on Citi at this point. -_- My credit union didn't have a problem with my Experian report three months ago, so what's the problem with Citi? -_0

Like, what's the deal? Did Citi goof up, or are they just difficult to deal with? I went the recon route, which was unsuccessful. I was getting all kiiiiinds of 'tude from the CSR (and I was being a nice guy too!).

I received the rejection letter in the mail today, and it sites the same reasoning. Should I call back and bang my head against the wall again, or just let it go? >

Re: Citi Diamond Preferred - Limited Credit History

Anonymous — Wed, 20 Nov 2013 00:29:51 GMT

Welcome to the forum. Besides the car loan, what other items appear on your CR's? Do you have any revolving cc's ? Student loans?

Re: Citi Diamond Preferred - Limited Credit History

DaylightSlaving — Wed, 20 Nov 2013 02:10:51 GMT

Mhm, I have a Discover It (5k) and an AmEx BCP (2k). No student loans. No negatives.

Re: Citi Diamond Preferred - Limited Credit History

FinStar — Wed, 20 Nov 2013 02:25:37 GMT

Sorry - your profile is simply to thin or with limited experience for Citi's liking - not BS. If your reconsideration efforts were futile, then just let it be since they will not bend. Just business, nothing personal. Citi prefers that you have an established history before they can open the doors for you, exception being if you were going the student card route. Of course you're welcome to try again if anything in another 6-12 months.

Re: Citi Diamond Preferred - Limited Credit History

Anonymous — Wed, 20 Nov 2013 02:26:10 GMT

How long have you had your cc's?

Re: Citi Diamond Preferred - Limited Credit History

DaylightSlaving — Wed, 20 Nov 2013 03:09:47 GMT

I've had an excellent track record with Discover since January, the same goes for AmEx since February.

Frankly, I'm not sure what else Citi would need to see. I receive pre-approved offers consistently from their competitors. It seems as though they either A: Use a different approval structure, or B: Had an issue receiving a report from Exp, and wrote it off.

Re: Citi Diamond Preferred - Limited Credit History

MACFRME — Wed, 20 Nov 2013 04:02:48 GMT

I am also curious about this thread. Adding a Citi card to my portfolio is the last one I want for now. I also have a limited history, but I do have many accounts (17 credit cards, an auto loan, and student loans). My Experian score is sitting at around 700. I am a student, but I also have a great income to work with. If I applied for the student card, would that hinder me later on when I am eligible for higher limits? I really want the ThankYou Prferred card, because I cannot stomach another AF card....

Re: Citi Diamond Preferred - Limited Credit History

Anonymous — Wed, 20 Nov 2013 04:03:44 GMT

Your credit profile is less than a year. Citi is requesting a longer history from you, which is their right. Anything less than 2years is generally considered thin as far as AAOA is concerned.

Re: Citi Diamond Preferred - Limited Credit History

FinStar — Wed, 20 Nov 2013 04:28:31 GMT

@MACFRME wrote:
I am also curious about this thread. Adding a Citi card to my portfolio is the last one I want for now. I also have a limited history, but I do have many accounts (17 credit cards, an auto loan, and student loans). My Experian score is sitting at around 700. I am a student, but I also have a great income to work with. If I applied for the student card, would that hinder me later on when I am eligible for higher limits? I really want the ThankYou Prferred card, because I cannot stomach another AF card....

You may need to build more on the history if your AAoA is less than a couple years old and not to mention any recently acquired CCs and inquiries. Typically, and although any U/W criteria can change, you would need a score north of 700 to qualify for the Citi TYP (they can pull any of the 3 CRAs), in addition to other factors that would be considered for creditworthiness. As far as the array of Citi student CCs, the CLs would be limited from growing at a specific point since those are targeted CC programs unlike the other mainline CCs.

Re: Citi Diamond Preferred - Limited Credit History

Anonymous — Wed, 20 Nov 2013 04:36:52 GMT

The reason why citi denied you is valid. Your credit history is indeed very short, which means its also limited. Citi just feels uncomfortable issuing you a credit card based on very limited data on your payment history, behavior, which results in them being unable to accurately assess how risky of a customer you are.

Just give it a few more months to a year and try again. In the meantime just keep your Amex, discover and other accounts in good standing and you will be fine.

Re: Citi Diamond Preferred - Limited Credit History

DaylightSlaving — Wed, 20 Nov 2013 04:55:29 GMT

Thanks for the advice everyone! =}

I figured a year was long enough, but it's become apparent that some issuers want a more seasoned track record. Got it!

Re: Citi Diamond Preferred - Limited Credit History

HARRIS10 — Thu, 17 Jul 2014 02:36:20 GMT

I understand how u feel the same happend to me the only difference is they was sending me pre approval letters so I thought I wud give it a try I was denied for limited credit history too but dont send me no letters baiting me up thats all im saying