Citi CLI Denial Reason?

[Cashbackjunky]

Hey all,

I have been trying to get a CLI on my Custom Cash and will occasionally request and continually get the same reason for denial in the letter....

"We're unable to approve your request because your credit report shows too many recently opened accounts."

I'm not exactly sure what that means. Does that mean the account is too young for a CLI? Or does it really mean I've opened too many accounts recently?

Both reasons don't quite make sense to me. The account is over 6 months old and the last account opened was this account.

I chatted with them using the feature in the app and the CSR wasn't much help. He told me to reach out to the credit bureau... With this being Citi verbiage, I have to imagine Equifax will tell me to reach out to Citi.

I've decided to come here and see if you all have come across this.

Cheers!

[chiefone4u]

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@Cashbackjunky wrote:

Hey all,

I have been trying to get a CLI on my Custom Cash and will occasionally request and continually get the same reason for denial in the letter....

"We're unable to approve your request because your credit report shows too many recently opened accounts."

I'm not exactly sure what that means. Does that mean the account is too young for a CLI? Or does it really mean I've opened too many accounts recently?

Both reasons don't quite make sense to me. The account is over 6 months old and the last account opened was this account.

I chatted with them using the feature in the app and the CSR wasn't much help. He told me to reach out to the credit bureau... With this being Citi verbiage, I have to imagine Equifax will tell me to reach out to Citi.

I've decided to come here and see if you all have come across this.

Cheers!

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Lenders tend to pick vague reasons as the reason for denial,  they only have to somewhat match the real reason. 

Typically, the reason they are giving you is used for to many new accounts, your account you are requesting cli for is to new, or possibly not utilized in a manner they feel comfortable extending more credit to you.

While it may not give an exact answer for you, other's may be able to help you determine the real cause if you shared how many new accounts you've opened in the last 6/12/24 month's.

[SoCalGardener]

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@Cashbackjunky wrote:

I have been trying to get a CLI on my Custom Cash and will occasionally request and continually get the same reason for denial in the letter....

"We're unable to approve your request because your credit report shows too many recently opened accounts."

I'm not exactly sure what that means. Does that mean the account is too young for a CLI? Or does it really mean I've opened too many accounts recently?

Both reasons don't quite make sense to me. The account is over 6 months old and the last account opened was this account.

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Right, and it's over six months old, but what other accounts have you opened recently? By 'recently' we can mean various things, depending on who the creditor is and assorted other factors. Looking at the past year, past two years, how many accounts have you opened? Not just credit cards--loans, car loans, mortgage loans, anything involving credit.

[Anonymous]

You look like a good match for Citi, I get cards from them all the time I never get a no and your scores are around 20 points higher then mine.

This may be your problem or may not be;

You show $324,000 in available credit cards. For Citi you should have a yearly income of that amount at minimum. If your yearly income is lower they will probably deny you with you having enough available credit based on your income.

Banks do report your monthly useage by showing how much you paid for that month. Although not part of your score banks can see how much you are actually spending versus your open lines. If your available credit is way more then you need each month there is no reason for any bank to give you utilization padding.  

There can be other factors as well, I am just pointing out the most obvious

Thanks

Mark

[Relatxbles]

It looks like they have noticed a number of recent inquiries. Citi can be inq sensitive - that's my best guess here