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DSNB Macy's Visa = Citibank?

Valued Member

DSNB Macy's Visa = Citibank?

In 2012, I declared bakruptcy. Main creditors included were Chase and B of A, and I regretably included smaller accounts taht i should have just paid off, such as Amex for $7200 (blacklisted), Discover for $400 (blacklisted) and Macys' Visa issued by DSNB for $2100. I applied adn was approved for a Sears card issued by Citibank in 2014 that I do not use; card a few thousand dollar limit. After that approval, I applied for an unsecured Citibank card, was denied, and recon-ed, denied again.  A subsequent application for a secured card was also denied.  I was shocked at the secured denial, especially considering at that time I already had two Barclay Cards with generous limits, two Capital One cards, and several store cards AND the fact that the purpose of the secured card is to help those with credit problems rebuild after events such as bankruptcy. The reason for my secured application was not because I was  in desperate need of credit but was motivated by my desire to get back in with Citibank and improve my credit file with more prime lenders, eventually hoping to convert the secured to an unsecured line.  I did have four or five of Citibank cards prior to and around the time I declared bankruptcy but had no balances on any of the cards, except for that Macy's Visa.  According to my research, I have learned that DSNB is a subsidiary of Citibank, so now I am putting the pieces together that the reason I have been denied credit is because of this debt.  In the grand scheme, this was not a massive inclusion in the bankruptcy, and I am wondering if Citi will ever forgive me and extend a credit line to me beyond a store account.  Also curious if talking to a banker in a branch vs. the executive customer service department (whose reps seem to be corporate automatons that are very limited in their capability to assist) might be beneficial in terms of assisting.  Any feedback here is appreciated! Thanks.

9 REPLIES
Valued Contributor

Re: DSNB Macy's Visa = Citibank?

We can't really say for sure.  I incldued Citi in my 2010 Ch7 and has been a no go until now.  The only reason i have a Citi now is becasue it was a transfer from AMEX to Citi for the Costco card.  




FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

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Message 2 of 10
Valued Contributor

Re: DSNB Macy's Visa = Citibank?


Polina wrote:

In 2012, I declared bakruptcy. Main creditors included were Chase and B of A, and I regretably included smaller accounts taht i should have just paid off, such as Amex for $7200 (blacklisted), Discover for $400 (blacklisted) and Macys' Visa issued by DSNB for $2100. I applied adn was approved for a Sears card issued by Citibank in 2014 that I do not use; card a few thousand dollar limit. After that approval, I applied for an unsecured Citibank card, was denied, and recon-ed, denied again.  A subsequent application for a secured card was also denied.  I was shocked at the secured denial, especially considering at that time I already had two Barclay Cards with generous limits, two Capital One cards, and several store cards AND the fact that the purpose of the secured card is to help those with credit problems rebuild after events such as bankruptcy. The reason for my secured application was not because I was  in desperate need of credit but was motivated by my desire to get back in with Citibank and improve my credit file with more prime lenders, eventually hoping to convert the secured to an unsecured line.  I did have four or five of Citibank cards prior to and around the time I declared bankruptcy but had no balances on any of the cards, except for that Macy's Visa.  According to my research, I have learned that DSNB is a subsidiary of Citibank, so now I am putting the pieces together that the reason I have been denied credit is because of this debt.  In the grand scheme, this was not a massive inclusion in the bankruptcy, and I am wondering if Citi will ever forgive me and extend a credit line to me beyond a store account.  Also curious if talking to a banker in a branch vs. the executive customer service department (whose reps seem to be corporate automatons that are very limited in their capability to assist) might be beneficial in terms of assisting.  Any feedback here is appreciated! Thanks.


DSNB, or Department Stores National Bank is as you said Citibank. Citibank purchased the receivables for the former FACS (Macys/Bloomingdale's) and May Company store cards in 2006 when Federated Department Stores (Macy's/Bloomingdale's) and May merged. However, the FACS people still service these cards-Citibank just owns the receivables and yes, makes some of the rules regarding approvals, limits etc. This is very similar to how TD owns the Nordstrom and Target receivables-Nordstrom and Target still service the accounts. I believe the main reason that Citibank uses the DSNB name instead of just Citi is because Macy's and Bloomindale's still have a lot to do with the cards-they just dont lend the money anymore.

SInce you were approved for a Sears card (owned by Citibank) and not the Citibank secured card tells me that it is possible that Sears has asked Citibank to approve more accounts and they might even take some of the risk which is why Citibank would be willing on that card.  

If you look at past threads, it does seem that Citibank is very much a blacklist bank. Your bankruptcy was 5 years ago so you may need to give it another 2-5 years for them to let you back into their good graces.

I will tell you this though; I have three Citibank cards and Citibank is my least favourite bank out there. I don't know if for you it is more a matter of principal by wanting back in or you actually want one of their products (Double Cash maybe) but I think you can do better (PenFed credit union has a 2% cash back card-if you have their checking account-so maybe look into them). I hate Citibank. 


Message 3 of 10
Valued Member

Re: DSNB Macy's Visa = Citibank?


CO_NATIVE wrote:

Polina wrote:

In 2012, I declared bakruptcy. Main creditors included were Chase and B of A, and I regretably included smaller accounts taht i should have just paid off, such as Amex for $7200 (blacklisted), Discover for $400 (blacklisted) and Macys' Visa issued by DSNB for $2100. I applied adn was approved for a Sears card issued by Citibank in 2014 that I do not use; card a few thousand dollar limit. After that approval, I applied for an unsecured Citibank card, was denied, and recon-ed, denied again.  A subsequent application for a secured card was also denied.  I was shocked at the secured denial, especially considering at that time I already had two Barclay Cards with generous limits, two Capital One cards, and several store cards AND the fact that the purpose of the secured card is to help those with credit problems rebuild after events such as bankruptcy. The reason for my secured application was not because I was  in desperate need of credit but was motivated by my desire to get back in with Citibank and improve my credit file with more prime lenders, eventually hoping to convert the secured to an unsecured line.  I did have four or five of Citibank cards prior to and around the time I declared bankruptcy but had no balances on any of the cards, except for that Macy's Visa.  According to my research, I have learned that DSNB is a subsidiary of Citibank, so now I am putting the pieces together that the reason I have been denied credit is because of this debt.  In the grand scheme, this was not a massive inclusion in the bankruptcy, and I am wondering if Citi will ever forgive me and extend a credit line to me beyond a store account.  Also curious if talking to a banker in a branch vs. the executive customer service department (whose reps seem to be corporate automatons that are very limited in their capability to assist) might be beneficial in terms of assisting.  Any feedback here is appreciated! Thanks.


DSNB, or Department Stores National Bank is as you said Citibank. Citibank purchased the receivables for the former FACS (Macys/Bloomingdale's) and May Company store cards in 2006 when Federated Department Stores (Macy's/Bloomingdale's) and May merged. However, the FACS people still service these cards-Citibank just owns the receivables and yes, makes some of the rules regarding approvals, limits etc. This is very similar to how TD owns the Nordstrom and Target receivables-Nordstrom and Target still service the accounts. I believe the main reason that Citibank uses the DSNB name instead of just Citi is because Macy's and Bloomindale's still have a lot to do with the cards-they just dont lend the money anymore.

SInce you were approved for a Sears card (owned by Citibank) and not the Citibank secured card tells me that it is possible that Sears has asked Citibank to approve more accounts and they might even take some of the risk which is why Citibank would be willing on that card.  

If you look at past threads, it does seem that Citibank is very much a blacklist bank. Your bankruptcy was 5 years ago so you may need to give it another 2-5 years for them to let you back into their good graces.

I will tell you this though; I have three Citibank cards and Citibank is my least favourite bank out there. I don't know if for you it is more a matter of principal by wanting back in or you actually want one of their products (Double Cash maybe) but I think you can do better (PenFed credit union has a 2% cash back card-if you have their checking account-so maybe look into them). I hate Citibank. 


Double Cash does have nice rewards, and, yes, that is the card  am interested in. I feel I will never get in with Chase, B of A, or Amex, and I suppose feel there is some sort of achievement by being approved for a major lender. Isnt PenFed for military? I am not military. Why do you hate Citibank?

Message 4 of 10
Valued Member

Re: DSNB Macy's Visa = Citibank?


c00mtg wrote:

We can't really say for sure.  I incldued Citi in my 2010 Ch7 and has been a no go until now.  The only reason i have a Citi now is becasue it was a transfer from AMEX to Citi for the Costco card.  


May I ask how much you included? 

Message 5 of 10
Valued Contributor

Re: DSNB Macy's Visa = Citibank?


Polina wrote:

CO_NATIVE wrote:


Double Cash does have nice rewards, and, yes, that is the card  am interested in. I feel I will never get in with Chase, B of A, or Amex, and I suppose feel there is some sort of achievement by being approved for a major lender. Isnt PenFed for military? I am not military. Why do you hate Citibank?


It will take time but I believe at some point you will get back in. Many here have had success but it can take time (sometimes up to 10 years). Amex and Citibank appear to have the longest memory. PenFed was created for Department of Defense and military, yes-however, anybody can join. You would simply need to join an association, such as National Military Families Association (I think $25 to join). You would be helping a good cause and it makes you eligible to join PenFed. You would need to get their checking account or be military to get the full 2% (otherwise it is 1.5%) and their checking requires either direct deposit or you have to park $500 there to avoid monthly fees. But, PenFed is a great credit union and you could start earning 2% cash back on each purchase (and its a Visa if you like Costco compared to Citibank's MasterCard). 

 

Citibank and why I hate them...its kind of a long, funny (not ha ha funny but maybe ironic) story as to why I hate them. See, when I was younger I thought the world of Citibank. I couldn't wait until I turned 18 and could get one-and I did at 19. They were great back then (1998); easy APR reductions, easy credit line increases and great customer service (which to be fair, they are still good at SP CLIs and some people-not me-have great success at APR reductions). But over the years they just became very generic. The Dividend card used to be amazing (5% cash back on groceries, gas stations and pharmacies up to $300 per year) then they lowered it to 2% and added utilities; then they nerfed it to a 1% cash back card and a copy-cat Freedom/Discover 5% bonus quarter-the quarters never really fit with my spending. During the Great Recession they hit me with a CLD on my Dividend card. Back then (2010) I used that card for everything; never came near my limit; always paid in full; no hit to credit score. They sent me a letter saying "We've noticed that you aren't using the full credit line on your account, therefore, On February 15, 2010, your new limit will be $8,700 (it was $10,500)." I just remember being ticked off especially since I literally never used my other two Citibank cards (Platinum Select and AT&T Universal Card) but they never were touched. They also raised the APR on all my accounts and refused to make any changes to accounts shortly after the CARD Act was passed. They just went from being so great to being so bad. You may ask why I still have my accounts then...well they have aged quite nicely along with me  Smiley Sad so it gets harder to close old accounts-at least for me. They also every once in a while offer something so good its hard to pass up; for instance I have 0% APR through the end of the year on my Dividend card for new purchases so that has been great and on my Diamond Preferred I get 5% cash back statement credit for online purchases through September. To sum it up, I put Citibank on such a high pedestal that when they fell, they fell hard and I never really forgave them. 

 

So yeah, spotlight off me and back to you. I totally understand why you want back in with what most people call prime lenders. That will take a few more years unfortunately, but  in the meantime I do encourage you to look into some of the great credit unions and build a relationship with one or more of them. I covet my NFCU card above all others Smiley Happy Also check out the Bankruptcy forum here to see what others have to say about the subject (if you have not already). 


Message 6 of 10
Valued Member

Re: DSNB Macy's Visa = Citibank?


CO_NATIVE wrote:

Polina wrote:

CO_NATIVE wrote:


Double Cash does have nice rewards, and, yes, that is the card  am interested in. I feel I will never get in with Chase, B of A, or Amex, and I suppose feel there is some sort of achievement by being approved for a major lender. Isnt PenFed for military? I am not military. Why do you hate Citibank?


It will take time but I believe at some point you will get back in. Many here have had success but it can take time (sometimes up to 10 years). Amex and Citibank appear to have the longest memory. PenFed was created for Department of Defense and military, yes-however, anybody can join. You would simply need to join an association, such as National Military Families Association (I think $25 to join). You would be helping a good cause and it makes you eligible to join PenFed. You would need to get their checking account or be military to get the full 2% (otherwise it is 1.5%) and their checking requires either direct deposit or you have to park $500 there to avoid monthly fees. But, PenFed is a great credit union and you could start earning 2% cash back on each purchase (and its a Visa if you like Costco compared to Citibank's MasterCard). 

 

Citibank and why I hate them...its kind of a long, funny (not ha ha funny but maybe ironic) story as to why I hate them. See, when I was younger I thought the world of Citibank. I couldn't wait until I turned 18 and could get one-and I did at 19. They were great back then (1998); easy APR reductions, easy credit line increases and great customer service (which to be fair, they are still good at SP CLIs and some people-not me-have great success at APR reductions). But over the years they just became very generic. The Dividend card used to be amazing (5% cash back on groceries, gas stations and pharmacies up to $300 per year) then they lowered it to 2% and added utilities; then they nerfed it to a 1% cash back card and a copy-cat Freedom/Discover 5% bonus quarter-the quarters never really fit with my spending. During the Great Recession they hit me with a CLD on my Dividend card. Back then (2010) I used that card for everything; never came near my limit; always paid in full; no hit to credit score. They sent me a letter saying "We've noticed that you aren't using the full credit line on your account, therefore, On February 15, 2010, your new limit will be $8,700 (it was $10,500)." I just remember being ticked off especially since I literally never used my other two Citibank cards (Platinum Select and AT&T Universal Card) but they never were touched. They also raised the APR on all my accounts and refused to make any changes to accounts shortly after the CARD Act was passed. They just went from being so great to being so bad. You may ask why I still have my accounts then...well they have aged quite nicely along with me  Smiley Sad so it gets harder to close old accounts-at least for me. They also every once in a while offer something so good its hard to pass up; for instance I have 0% APR through the end of the year on my Dividend card for new purchases so that has been great and on my Diamond Preferred I get 5% cash back statement credit for online purchases through September. To sum it up, I put Citibank on such a high pedestal that when they fell, they fell hard and I never really forgave them. 

 

So yeah, spotlight off me and back to you. I totally understand why you want back in with what most people call prime lenders. That will take a few more years unfortunately, but  in the meantime I do encourage you to look into some of the great credit unions and build a relationship with one or more of them. I covet my NFCU card above all others Smiley Happy Also check out the Bankruptcy forum here to see what others have to say about the subject (if you have not already). 



Thank you so much for your thorough and thoughtful response. I would be irritated with Citibank too if I were in your shoes, as from your description, they really dont seem to value loyalty.  

 

As for my rebuild, I have been fairly lucky because i have been periodically reading posts in this forum here for about four years, and that was very helpful to me in cleaning up my reports. I managed to get all the negatives deleted except for one late payment to one creditor from the bankruptcy that will drop off in 22 months, and, of course, the bankruptcy itself.  I currently have an abundance of inquiries, most of which will be dropping off between October 2017 and May 2018. I have been fairly fortunate to have been approved for some prime cards such as Barclay Cash Forward (I got $100 sign up bonus, 1.5% cash back, and 5% redemption bonus), Barclay Arrival, Apple, and the standard Rewards card, and Capital One Quicksilver (World Mastercard), and most recently US Bank's Cash+ VIsa (rotating 5% categories that are pretty lame, for the most part,  rotating 2% on groceries, gas, or dining, and 1% on everything else) and their Amex 365 (this offers 2% cash back for first year). US Bank was very generous in extending me $15000 between both cards, and I was very excited that they solicited me during an app for a checking/savings package since I wasnt even seeking credit from them. I was under the assumption that with their conservative lending policies, I would never be approved for their cards.  The NFCU info is very helpful, and I will consider them when some of my inquiries fall off, especially with that 2% cash back.

 

Regarding Citi not bein BK friendly, they have a secured card, and i have read multiple reports of approvals post-bankruptcy for this card. Obviously I dont need a secured card but would be game if it converted to unsecured. I think what is difficult for me to accept is that a $2100 debt has effectively banned me from even a secured card from them (same thing has happened with Discover, but over a $400 debt — $400!!!). These companies are offering unsecured credit to people who had charge offs for thousands upon thousands of dollars. The criteria for approval/denial seems to be totally out of whack.

 

I suppose I may be a bit overeager to achieve too much too soon in terms of getting back into the good graces of former lenders, but reestablishing those relationships is important to me. I want to a chance to redeem myself and demonstrate that I am reponsible with credit and that I am an honest person. Filing bankruptcy was not a decision I wanted to make. Even with the burden of debt that had bloomed beyond my control, I was never late paying any of my accounts until I was instructed by my attorney that the only way to file bankruptcy was to first stop paying my accounts. Beyond this, there are a lot of great signup bonuses that I miss out on because of the relationships that I have compromised. 

 

Lastly, I probably should have posted this in the Bankruptcy thread. Is there any way that I can move it there? I havent posted on this board much, so I am not savvy on all the technical aspects of the site.  Smiley Happy 

Message 7 of 10
Moderator

Re: DSNB Macy's Visa = Citibank?


Polina wrote:

 

Lastly, I probably should have posted this in the Bankruptcy thread. Is there any way that I can move it there? I havent posted on this board much, so I am not savvy on all the technical aspects of the site.  Smiley Happy 


No problem... moving to 'BK'.  Smiley Wink

 

--UB

Message 8 of 10
Valued Member

Re: DSNB Macy's Visa = Citibank?

Thank you, UncleB!
Message 9 of 10
Contributor

Re: DSNB Macy's Visa = Citibank?

My BK in 2005 included Macy's and Bloomies.  I now have 3 accounts between the 2 with very nice limits.  So Citi is forgiving, at least after a period of time.  I have a Citi Thank You Preferred also.  Obtained all the cards when scores were just over 750.

Message 10 of 10