Citi Bank Credit Line Increase Request Denial

[Anonymous]

Citi Bank Credit Line Increase Request Response

UPDATE
Under the Fair Credit Reporting Act, you have the right to know the information contained in your credit file at the consumer reporting agency. You also have the right to a free copy of your credit report if you request it from the consumer reporting agency no later than 60 days after you receive this letter.

If you find any information in your credit report that is inaccurate or incomplete, you have the right to dispute the matter by contacting the reporting agency at the address or phone number above. If your credit report changes as a result of a dispute, please give us a call within 60 days so we can re-evaluate our decision.

The consumer reporting agency listed above also provided us with your credit score of 923, as of July 31, 2020, which we used in making our decision. Your credit score is a number that reflects the information in your consumer report and can change as the information in your report changes. Credit scores can range from 1 to 2500 - the higher the score, the better. The key factors that adversely affected your credit score are:

- There are too many recent increases in balance on revolving accounts
- Your credit report shows too many inquiries.
- Months since most recent delinquency is too short
- There are too many revolving or charge accounts with a ratio of balance to credit limit that is too high
- Length of time since oldest mortgage account has been established is too short.

After flopping around like a fish caught on shore when the tide went out ... my findings sure are not theirs:

There is one reporting balance of a BT, there have been no inquirys since 2017 (all deleted), there are NO delinquency's anywhere on my credit report past or present, there is and auto loan and home loan that have many years to run, and the oldest mortgage is more than eleven years.

To add all my scores on all versions of credit scoring have been in the 800's for over five years. Further, have been with Citi Bank for eleven years. Did have a BK twenty years ago and long since off of all reporting records. Due note, lenders may keep negative information in their data bases going back to the start of time which is private to them. Reviewed my Transunion report two days ago and it is clean and they score me 850 on a Fico8 [300 to 850] scale!? Don't even no where to start? Back in 2014 a CSR informed my that I may have hit Citi's max permitted for DTI and internal Risk Scoring and as such was not eligible for more credit. Maybe that is still the reason? Strange?

[Tonya-E]

@Anonymous This makes zero sense to me. This is exactly what we were discussing on the other post. So apparently they use their own databases to keep information on consumers long past what the credit bureaus display. Did the CSR provide any data points about their internal DTI/risk scoring back in 2014? What was your profile and credit line at that time? 

[Remedios]

Citi denial letters have two pages.

Page one lists reasons specific to you. 

Page two lists all negative reason codes for that particular model whether they are applicable to you or not. 

If you want to know why you got denied, look at page one. 

I got denied for increase only to be approved a week later with no changes to CR. Your account will retain SP language, so just try at a different time

[Anonymous]

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@Tonya-E wrote:

@Anonymous This makes zero sense to me. This is exactly what we were discussing on the other post. So apparently they use their own databases to keep information on consumers long past what the credit bureaus display. Did the CSR provide any data points about their internal DTI/risk scoring back in 2014? What was your profile and credit line at that time? 

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No other information from the CSR. In fact I generally find CSRs either don't know or are not able to access much for actual credit risk information. My dealings with Citi CSRs has been all over the place. Some are absolutely amazing and pull a rabbit out of the hat or don't know the difference between standard and Signature Visas. Wondering if this is related to their training and keeping all of them on the same page saying the same thing?

Will add over the years I have had several Citi Cards and p/c or app for new ones and close other along with moving CLs. Now as we all know some of these options have come and gone so it is ever dynamic. As to income, upon moving from active employment to semi-retirement my income was reduced. There is certainly a possibility here. Additionally, the amount of open credit back to 2014 and today was considerably different. While I have been actively reducing (culling) the herd it is still a lot of credit.

[Anonymous]

It could be that with the reduced incoem you've essentially reached your ceiling with them, that seems to make more sense than listing 10 other reasons that don't apply to you.

Honestly they should just come up with a new reasonable response such as "due to internal scoring  and current  economic weather we are uncomfortable with granting a CLI at this time, please try back when your situation changes or the economy does".

[OmarGB9]

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@Anonymous wrote:

It could be that with the reduced incoem you've essentially reached your ceiling with them, that seems to make more sense than listing 10 other reasons that don't apply to you.

Honestly they should just come up with a new reasonable response such as "due to internal scoring  and current  economic weather we are uncomfortable with granting a CLI at this time, please try back when your situation changes or the economy does".

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Ha, if only! They would never do that, it would scare off potential customers.