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Citi CLI declined

essexjet
Contributor

Citi CLI declined

I just tried for a credit limit increase and it was declined.  It was opend 4/16 with a $500 CL and I have never asked for a CLI.  Current scores are 672, 683 & 688.  Would asking for a review be a hard pull?  Is there anyting I can do at this time or just let it go?

2/21/19 Fico's: EQ 651 - TU 666 - EXP 670
4/4/19 Fico's: EQ 744 - TU 763 - EXP 758

AMEX Platinum: NPSL / DCU $3000 / Barclaycard Apple Visa $2700 / Firestone $1200 / Credit One Bank $1100 / Walmart $8000 / Capital One $500 / Chase United Explorer $5000 / Discover IT $1500 / NFCU $1500 / Sams Club $7500
Message 1 of 15
14 REPLIES 14
CreditJunkie304
Valued Member

Re: Citi CLI declined

A manual review is a hard pull. For CLI I can tell you under 660 is an auto decline and anything under 690 is "risky" with them. I would wait for the letter before you do anything, if it was based on the credit bureau they would have to pull again to review it in hopes that something had updated to benefit you in the meantime. IF based on performance with them, the system may have made an error, but good luck with that one.

Starting Score: 600
Current Score: 725
Goal Score: 750


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Message 2 of 15
RonM21
Valued Contributor

Re: Citi CLI declined

Are your scores Fico scores? And is there anything negative on your reports, especially recently? What is your overall utilization across all of your cards? Depending on what your situation is, you may be able already point at some of the possible problems. But as the above poster mentioned, what and see what the letter says first.
                

Total CL: $306.1kUTL: 3%AAoA: 6.8yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k |DISC-40.6k | PENFED-38.4k | AMEX-37k | NFCU-37k | LOWES-35k | ALLIANT-25k | BARCLAYS-15k | CITI-13.7k | CHASE-10k

Message 3 of 15
RickNATL
Established Contributor

Re: Citi CLI declined

At your scores I received CLIs....can u share how u use the card...do u carry balances, utilization rate for the card and other cards, etc.?

Also, when my scores were in the upper 600s, I wasnt paying attention and authorized a hard pull on the website...but it was worth it...they bumped me $7K CLI.
Message 4 of 15
BrutalBodyShots
Super Contributor

Re: Citi CLI declined


@essexjet wrote:

Current scores are 672, 683 & 688. 


Your scores are indicative of either negative items present, high utilization, or a combination of the two.  Both of these factors are signs of financial stress and elevated risk, which make it difficult for lenders to extend additional credit.

 

I'd focus on improving whatever your issue(s) are here, get your scores all above 700 at least and then request again.  Chances are you'll see a more favorable result.

Message 5 of 15
xaximus
Valued Contributor

Re: Citi CLI declined


@BrutalBodyShots wrote:

@essexjet wrote:

Current scores are 672, 683 & 688. 


Your scores are indicative of either negative items present, high utilization, or a combination of the two.  Both of these factors are signs of financial stress and elevated risk, which make it difficult for lenders to extend additional credit.

 

I'd focus on improving whatever your issue(s) are here, get your scores all above 700 at least and then request again.  Chances are you'll see a more favorable result.


+1. I would get a more favorable/cleaner report before attempting another CLI. Something didn't jive with the lender hence the decline.



Scores - All bureaus 756 +
TCL - Est. $275K
Message 6 of 15
essexjet
Contributor

Re: Citi CLI declined

These are FICO 08 scores

Yes I had high utilization until I down off everythign on Feb 22nd.  I was around 86-89% and now under 5%.  I also have 2 30 lates 2 years ago but never had a late with CITI.  I was running a balance of about $300 on a $500 limit and charging $50 every month but making $50 payments.  CITI is also showing an older score from early Feb of 621.

2/21/19 Fico's: EQ 651 - TU 666 - EXP 670
4/4/19 Fico's: EQ 744 - TU 763 - EXP 758

AMEX Platinum: NPSL / DCU $3000 / Barclaycard Apple Visa $2700 / Firestone $1200 / Credit One Bank $1100 / Walmart $8000 / Capital One $500 / Chase United Explorer $5000 / Discover IT $1500 / NFCU $1500 / Sams Club $7500
Message 7 of 15
Iceywarm
New Contributor

Re: Citi CLI declined


@essexjet wrote:

These are FICO 08 scores

Yes I had high utilization until I down off everythign on Feb 22nd.  I was around 86-89% and now under 5%.  I also have 2 30 lates 2 years ago but never had a late with CITI.  I was running a balance of about $300 on a $500 limit and charging $50 every month but making $50 payments.  CITI is also showing an older score from early Feb of 621.


621 is typically in the NO Issue category in the banking sector. It was driven by the UTI being too high. This is why CLI are essential to keeping you're score above water in an emergency. 

 

My advice is to just hold off. You can ask for a manual review but you will trigger CITIs favorite button, and oh I mean their favorite button which is the hard pull. If you can afford the point loss than do it. 

 

If you can wait then their is no issue. Remember it takes thirty days for them to update credit reports, and they are probably using the soft pull from that date to get you the increase. 

 

As the other member mentioned above, something just is not agreeing with them. You should be recieving a letter explaining why, and you're FICO score as well. 

Message 8 of 15
BrutalBodyShots
Super Contributor

Re: Citi CLI declined


@essexjet wrote:

These are FICO 08 scores

Yes I had high utilization until I down off everythign on Feb 22nd.  I was around 86-89% and now under 5%.  I also have 2 30 lates 2 years ago but never had a late with CITI.


Those are the 2 problems right there.  It sounds like you took care of the utilization problem.  If you're talking aggregate utilization there and you went from 80-something percent reported to 5%, in crossing 4 thresholds your scores could increase to the tune of 50-70 points.  That's huge of course.  The late payments also hurt and are probably holding back your scores 40-50 points.  Have you tried to get them removed?  Keep in mind that Citi sees your entire CR, so even though you weren't late with them, they see you've been late on other accounts.  That can make them uneasy and of course increases the probability that you'll be late with them as well.

Message 9 of 15
xaximus
Valued Contributor

Re: Citi CLI declined


@BrutalBodyShots wrote:

@essexjet wrote:

These are FICO 08 scores

Yes I had high utilization until I down off everythign on Feb 22nd.  I was around 86-89% and now under 5%.  I also have 2 30 lates 2 years ago but never had a late with CITI.


Those are the 2 problems right there.  It sounds like you took care of the utilization problem.  If you're talking aggregate utilization there and you went from 80-something percent reported to 5%, in crossing 4 thresholds your scores could increase to the tune of 50-70 points.  That's huge of course.  The late payments also hurt and are probably holding back your scores 40-50 points.  Have you tried to get them removed?  Keep in mind that Citi sees your entire CR, so even though you weren't late with them, they see you've been late on other accounts.  That can make them uneasy and of course increases the probability that you'll be late with them as well.


+1. In addition to this - I would give it atleast 3 months before you apply again. It may take a few cycles for everything to update so I would definitely give it some time. Also, check your scores to see how much of an increase you'll get from paying off everything. Keep in mind, 4 thresholds is a pretty sizable hit so based on your scores, once everything is clear and you're under 5% UTI, you should be in the 700's easily. Once you see that and also see it in Citi's FICO page, you'll know it's updated. But I would still recommend waiting atleast 3 months before applying for a CLI again.



Scores - All bureaus 756 +
TCL - Est. $275K
Message 10 of 15
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