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Citi Card Secured denied!!!!!!!

Valued Contributor

Re: Citi Card Secured denied!!!!!!!

@Gemini101 wrote:
1) When rebuilding secured cards are not "worthless" as far as the scoring model goes they are TLs, PERIOD!
And when one has no history or needs history TL are of tremendous 'worth'
A builder is trying to add 'paid as agreed' history to their profile, while maintaining a low utilization, that's 65% of what the model is reading, if one can manipulate that, it certainly is NOT 'worth' s'mores

2) Taking HPs to get denials, secured or not SHOULD be of concern because it's still a HP being burnt

 The OP has 4 trade lines already. If they want more they can get a store card through SCT easily enough and not let someone have their money for no reason.  

More cards than I can mention in a signature.
Message 11 of 13
Senior Contributor

Re: Citi Card Secured denied!!!!!!!

@Meanmchine wrote:

I got this same denial a year and a half ago from Citi. I had some unpaid COs at the time.  Were they referring to them???


Can someone please explain this exactly to me. $56k income not enough?? 

It was probably because of the unpaid CO because that is factored in your debt.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (8.12.20) EX: 835 / EQ: 846 / TU: 834
Message 12 of 13
Valued Contributor

Re: Citi Card Secured denied!!!!!!!

My reaction was to the bold statement that secured cards in 'general' were "worthless" and the HPs burnt getting or not getting them didn't matter...

Agreed the OP has several lines but a less informed person reading the above comments should have access to a counter view vs taking that secured accounts are "worthless" IMO

* I also agreed that one needn't tie up crazy amounts of deposit money securing gazillions of TLs however nobody is "having" someone's money for 'no reason'

It's a deposit or collateral used to expedite or in some cases gain access to something of value (TL)

Everybody is different with different starting points and levels of tolerance and access...a person placing money in a savings account/CD for awhile isn't necessarily a huge deal for many (especially in a country where ppl need to save more anyway plus the % rates paid is a wash either way)

The SCT is cute for some, for others it's a bunch of worthless lines of credit added negativity affecting a profile by adding a bunch of 'new' credit HP or not slicing into AAOA with TLs that
a) may never get used like a bunch of gimme more ladies shoes or
b) stimulate 'silly' shopping at a vendor one would not have but for the shiny lure

Again, no big deal just varying POV on how to cautiously rebuilding or freshly build a profile...

It's cool to have a Ying to a Yang so ppl don't think one is a fact 😉
Message 13 of 13
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