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Citi Costco VISA Application Denied...Again!

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Established Contributor

Citi Costco VISA Application Denied...Again!

My FICO scores having improved somewhat, I recently applied for the Citi Costco card again. And was denied, again! We shop at Costco regularly but for some reason, I don't think Citi likes me...

 

For reference, my FICO scores at the time of application were:

 

EX 714, 5 INQ, AAOA=5 years, 1 month

EQ 715, 1 INQ, AAOA=5 years, 10 months

TU 709, 0 INQ, AAOA=4 years, 8 months

 

My household income is almost $400K per year. I have the Citi AAdvantage Platinum Select MC, issued Feb 2016 and have always kept utilization below 30%. They have given me a couple of CLIs over the past couple of years.

 

I waited to post this until I received my denial letter from Citi. The reason given for denial was: "A delinquent credit obligation(s), either paid or unpaid, was recorded on your credit report." It appears they pulled EX, which lists an old medical collection that is about to drop off my report. 

 

Since when is Citi this particular, that any baddie will spook them no matter what your scores or your history with them?! 

Message 1 of 5
4 REPLIES 4
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Community Leader
Senior Contributor

Re: Citi Costco VISA Application Denied...Again!

Sorry to hear about this. Costco made a bad choice with Citi after Amex backed out. I stopped shopping after Visa lock-in.
Message 2 of 5
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Moderator

Re: Citi Costco VISA Application Denied...Again!

Citi has never liked baddies.. Probably one of the most uptight of the big lenders about any negatives... Citi AA is their easiest "major" to get imo as well although costco isn't far behind it, but apparently their UW has changed since you got your last Citi card or the UW is different between cards.. It should be falling off soon so just wait it out and once gone you should be able to get the Costco card from them.   Collections they don't like at all.

 

Funny thing is my EQ was still a bit dirty i got the AA plat card for 9k, but turned down for the business version of the card due to an old deliquency/collection.  It is now off my reports as least EQ is clean who they pull for me and will re apply for that card soon to get the 70k aa milesSmiley Happy

Message 3 of 5
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Established Contributor

Re: Citi Costco VISA Application Denied...Again!

I would recon it. I got a Citi DC with a charge off, settled collection and an active collection from 3 years ago.

Current Scores & Increase since May 2020:

EX: 701 (+38)| TU: 692 (+32)| EQ: 681 (+36)| TU Fico 9: 704

Next Goal: Min. 700 w/all CRAs

Subsequent Goal: Chase FU

Gardening Until: 06/01/2021| App: 5/26/2020
Message 4 of 5
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Moderator

Re: Citi Costco VISA Application Denied...Again!

OP, as mentioned above by @CreditCuriosity, the majority of FIs have KPIs that drive frequent changes to their UW algorithms.

So, if at one point some of their UW criteria may have been somewhat "laxed", the changes in the ever-changing lending environment would likely have the impact on the decision you received.
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