Citi CLI is sensitive to new accounts

[Curious_George2]

I have two Citi cards. Both got hefty CLI's earlier this year, in January and February. I requested CLIs on both in the past two weeks and got denied both times. I have received one letter so far and it said the denial reason was too many recently opened accounts. That's not unreasonable. Since the prior CLIs, I have three new cards, one refinanced student loan and a new auto loan. Those new accounts didn't prevent Amex or BofA from giving me CLIs this last week.  

Part of me thinks Citi is being a little too conservative.  My total revolving debt now is about half of what it was six months ago.  But I also understand that credit seeking is a well established indicator of risk. I don't know if they have always been sensitive to new accounts or if they have tighted up the CLI algorithm during a pandemic.

I'm not upset about their decision, but I am curious to know how long it will take for them to change their mind.  From what I can tell, there is nothing stopping me from re-applying for CLIs as often as I want.  The process is fully automated and SP.  So, I will commence data gathering!

Does anyone else have experience -- recent or otherwise -- that suggests how this is likely to go?

[Physh1]

Denial reasons often aren't 100% accurate to the exact reason for denial. 6 statement cuts between attempts also helps with Citi. With all going on with covid-19 & all creditors tightening the belt I'm not surprised. Be patient...

[Curious_George2]

Totally. In this case, I'm inclined to believe their stated reason. It's the only thing about my profile that has gotten worse in the past six months. Your point about six statements is interesting. Thanks!

My post wasn't intended as "why aren't those big meanies giving me a CLI right now?!"

It's more like: Do we know what they currently think of as too many new accounts? Curiosity, not anger or impatience. 

[M_Smart007]

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@Curious_George2 wrote:

Totally. In this case, I'm inclined to believe their stated reason. It's the only thing about my profile that has gotten worse in the past six months. Your point about six statements is interesting. Thanks!

My post wasn't intended as "why aren't those big meanies giving me a CLI right now?!"

It's more like: Do we know what they currently think of as too many new accounts? Curiosity, not anger or impatience. 

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@Curious_George2, I can tell you due to "CREDIT SEEKING BEHAVIOR" in the last 18 months.

I have not been able to get CIti Core card CLI's and only one $2K CLI out of BoA.

But for (2) HP's I got a Chase $9000.00 CLI  ...

So ... I would say that Citi is sensitive to new Inquiries/new accounts.

[Anonymous]

I can tell you for sure on at least the retail side Citi is inq / new account sensitive on clis I cant tell you how many shotgun blasts I took at that cli on best buy, a higher up analyst told me they like to see at least six months of statements, 1 new account per six months, and 3 inquiries or less for cli requests, which I find hilarious because Citi likes to burn hps for every cli request take the information for what its worth

[Curious_George2]

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@Anonymous wrote:

I can tell you for sure on at least the retail side Citi is inq / new account sensitive on clis I cant tell you how many shotgun blasts I took at that cli on best buy, a higher up analyst told me they like to see at least six months of statements, 1 new account per six months, and 3 inquiries or less for cli requests, which I find hilarious because Citi likes to burn hps for every cli request take the information for what its worth

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My particular cards are core, not store, but thanks for that very specific report of what they want. Much appreciated. 

[CreditCuriosity]

Yes citi is sensitive to new accounts and can be a reason for CLI denials.. Get this reason for 3-4 months then eventually able to get one rinse and repeat after another 6 months.

[Anonymous]

Part of it may be related to the fact you didn't hit 6 months between cli. You said Jan and Feb were your most recent increases...putting you at July and August for your 6 month mark, respectively. 

[RadioRob]

When I applied for mortgage back last December, I took on a BUNCH of INQ. Basically since then, all CLIs were declined most of the year with that being one of the big reasons why.

A few days ago, I got my first CLI from Citi this year once everything hit over 6 months.

[Anonymous]

I don't think it's being too conservative, a CLI is still extending new credit despite most of our feelings on CLI's. So they obviously are looking for ability to repay said additional CL, and adding more/several new accounts seems a sufficient reason to be cautious. Maybe not enough of a reason for denial 8 months ago, but likely the current situation played a role. As well as other unknown factors. 

As has been said elswhere you cannot compare actions of one Lender to another as they all have their own internal criteria, thus Amex and BoA aren't Citi. Just comparing Amex and Citi, in most cases/profiles Amex comes out the winner with 3X CLI's anyways. Citi almost never triples one's CL. Amex also has the 61 day for the first CLI, where Citi doesn't. And even if they do, again no 3X CLI.