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@Anonymous wrote:
@Anonymous wrote:My income should be sufficient.
I am self employed, but the level is >100k. Not a million or something like that, but this is not the Centurion card either...
After submitting the online application form, I wasn't instantly rejected. The page asked to call. I did, and then I was rejected, no questions asked. I was polite and hang up.
After that, I called the regular recon number 800-695-5171, but the person really didn't budge and said to wait for the letter. I asked her why I had to wait for the letter as it simply states the reason in 1 sentence, which can obviously just as well be given by telephone... But she said it was company policy. I didn't try calling again because, honestly, I was a bit pissed and thought I'd just wait for the damn letter
.
The full back story:
I initially applied for the Citi Prestige on March 9.
I got rejected because "Too few satisfactory credit references were recorded on your credit bureau report."
I got a copy of my Experian report and it did mention this as a weakspot... Not that I had missed any payment recently, it was simply that I only had 2 credit cards and no installment loans / other accounts on there (despite 7+ years history on 1 of those 2 cards + high limit).
I spoke with Citi who confirmed this was the reason. I said, OK, so you want me to get more credit cards so I can eventually get this credit card? How ridiculous as it sounds, they basically said yes.
So, the next day, I applied for a CSP. I got instantly approved and a credit line of 20k. Neat
!
But, as the Citi Prestige is the real card I wanted... I waited a month.. Till my new account fully posted and showed up (and also removed the notice that "I have too few accounts that are in good standing" from my Experian hurting score factors).
So, yesterday, April 6, I applied again. My original application was just less than a month ago (March 9), but the person I spoke with at Citi before re-applying mentioned this wouldn't be an issue, as my total inquiries over the last 3 months, including that original application, were 3 (apparently what mattered was that they were below 5).
Because I basically "fixed" the original issue, I hoped things would be OK now.
But, alas, there's still an issue... Who knows... Maybe it's still the same "too few references" and they want me to get 4 or more cards before I apply again. Lol.
I haven't called the "Executive Office" yet at 605-331-1698. I plan on doing so, but am awaiting the letter to make sure I have the "official reason" first.
Perhaps I just have to wait till my new CSP account becomes more "seasoned" and then try again...
I'm also thinking of applying for a more "simple" Citi card, so they can see I do, in fact, always make my monthly payments...!
I hope you meet with success when you call the EO but it was unrealistic on your part to think that adding a single card for one month was going to address their concerns about not enough accounts. You need to let that account age for a minimum of 6 months for it to really address their concerns.
+1
@Anonymous wrote:At least they listen to you this time. Hmm, it sucks they didn't approve you outright. It is good to wait for the CSP but you have taken the hardpull and have nothing to lose at this point.
Refine the pitch I gave and reach out to their EO as the last resort. If you need help refining, let me know. But it is up to you of course if you want to give up and wait
I will call the EO when they open in an hour.
I read somewhere that, with Citi, it can really help to send a letter.
If the EO declines, does it still make sense to do that?
I heard the address is:
CitiBank Executive Review Department
P.O. Box 6000
Sioux Falls, SD 57117
@Anonymous wrote:Called the EO.
Gave an improved version of that speech. Even had a rebuttal ready in case of immediate decline, which wasn't necessary.
The lady was friendly, mentioned she took some notes, which she would send over for manual review to her credit analyst, and I should get a response by next week Friday latest...
No immediate review (perhaps because the regular recon line already did that yesterday?)
Will post updates.
I have to admit I like your fighting spirit... Will keep fingers crossed for you and will be hoping for victory. Keep us posted.
@Anonymous wrote:I have to admit I like your fighting spirit
Apologies if this sounds obnoxious, but I just shouted "VICTORY!!!!!!" LoL.
Out of the blue, no phone call or voicemail, just got this email:
Congratulations, you've been approved!
We're delighted to let you know you've been approved for the Citi Prestige(SM) Card, with a credit limit of $15,000. Your account is considered open as of today, 04/15/16.
I'm pretty sure that means it's official (it would be quite a nasty prank otherwise !).
Everyone here, especially Yes-Its-Me, thank you for your help!
4 night free hotel stays worldwide - here I come! 
Hope the benefit is as sweet as so many say it is!
Just in case it may help someone in a similar situation, I called the EO office at the "secret number" 605-331-1698 and, apparently, this really makes a dramatic different in your results and chances.
This is what I said:
Hello, my name is... I applied for the Citi Prestige card and received the letter. I was calling to see if the denial can be overtuned for a variety of reasons.
The lady proceeded to ask for my application number and may have restated the official rejection reason. I continued:
I know my application has been declined because I have too few accounts of credits listed.
And, yes, it is indeed true I only have 2 established credit cards. But, this is not because I'm not credit worthy, but because I am quite conservative with credit cards; I simply don't need that many.
My American Express card, which I’ve had for over 7 years, since 2009, and that has a $15,000 limit, was sufficient for my day to day needs. I also have a simple Bank of America credit card since 2013, just because it came with one of my accounts there.
As you can see on my report, I never had any issues with boths cards and always paid my bills in time.
I have a high income, and as such have no need for installment loans. I carefully manage my finances, I rent my main residence (and as such have no mortgage). I’m basically a very financially responsible individual. I graduated in Finance at XXX.
As my report shows you, I have absolutely 0 credit problems.
I'm not the kind of customer who signs up for many credit cards because I need the credit, or because I want the bonuses. As I mentioned, I'm conservative when getting credit cards. When I have a credit card that I'm satisfied with, there's no need for me to apply for others.
HOWEVER
Because I will be doing considerably more traveling this year, I decided to look for a great alternative to my American Express card; preferably a card with no foreign exchange fees and great reward partners. This search has led me to the Citi Prestige Card, a card I feel is a perfect match for my new traveling lifestyle, with benefits such as the 4th free hotel night and a more rewarding points system compared to my American Express.
There are various cards out there with the same high annual fees, but I feel the Citi Prestige is actually worth it, and as such do not mind paying for it.
Yes, I have “only” 2 established accounts and 1 new account, but I do have over 7 years of excellent history with reasonably high limit ($15k) and a credit score of 765 that Experian categorizes as “Very Good”.
Yes, I recently got approved for another card, a Chase Sapphire Preferred with a 20k limit, but this should only demonstrate that I'm actually credit worthy.
I applied for both the Chase and Citi because they are both great travel cards, but, unfortunately, only later learned that the Chase reward partners are actually not as good as a fit for my personal travels.
For example, I often stay at XXX, and XXX is a direct partner of Citi, but not of Chase.
As such, I'd just like to be given a chance to also have a relationship with Citi as I have with Chase, Amex and Bank of America. A relationship I am sure Citi will benefit from immersely as I am not in the habit of getting many accounts, chasing bonuses etc...
On the phone, I constantly tried to be nice and polite. I even apologized for the long speech. The EO agent said she didn't mind and took some notes. She said she would send it over for manual review, and I should get a phone call/response by next week Wednesday, no later than Friday.
She gave me her direct number and I was actually supposed to call back Wednesday, and then again on Friday, just in case if I missed the incoming call because of travels.
But I guess there's no need for that (although I might call anyway, just to say thanks)
In case she did decline immediately, I had the following rebuttal ready, but I didn't have to use it:
A colleague of yours mentioned to me that I should try again when I have more history on my newest Chase card, that has a limit of 20k.
I understand that. However, the fact that I never missed any payments over a period of more than 7 years with a 15 limit credit card should tell Citi that I can handle using a high limit card.
I would love to make the Citi Prestige my main credit card in daily usage, and I'm sure Citi Bank would benefit from this as well.
The request to open more credit cards in order to show more credit references, even though I already have 7 years of history, a score of 765, no missed payments ever, credit usage of just 1%...... that request....... I'm sure Citi doesn't really want me to get more competing cards.
Of course, I can wait 6 months, however, as I'll be traveling in the main time, I would love to be able to use a card during that period that I actually love.
Is there absolutely nothing you could do?
Now I didn't have to use that line, but figured to have it "ready", just in case. I was going to war after all .
If the answer was "no" again, I even had this third and final rebuttal ready:
Would it be possible for me to, instead of a Citi Prestige, be approved for a Citi Thank You Premier Card, which also has no foreign transaction fees, and so I can become an actual customer of Citi and show myself to be a great client?
I have looked at the Citi Thank You Preferred and Citi Simplicity Card too, but I'm afraid they are both not useful, because of the foreign fees and my substantial travels.
Also didn't have to use it, but figured getting their second best card wouldn't be a bad way to start the relation either.
@Jin,
This is indeed a victory. I am soooo proud of you.. Wow, enjoy it. I bet you felt like this guy when you got the approval. https://www.youtube.com/watch?v=xWiUvn2KBu4
I love the script. Aren't challenges just fun? It makes the victory even sweeter when won...
@Anonymous wrote:
@Anonymous wrote:I have to admit I like your fighting spirit
Apologies if this sounds obnoxious, but I just shouted "VICTORY!!!!!!" LoL.
Out of the blue, no phone call or voicemail, just got this email:
Congratulations, you've been approved!
We're delighted to let you know you've been approved for the Citi Prestige(SM) Card, with a credit limit of $15,000. Your account is considered open as of today, 04/15/16.
I'm pretty sure that means it's official (it would be quite a nasty prank otherwise
Everyone here, especially Yes-Its-Me, thank you for your help!
4 night free hotel stays worldwide - here I come!
Hope the benefit is as sweet as so many say it is!
Just in case it may help someone in a similar situation, I called the EO office at the "secret number" 605-331-1698 and, apparently, this really makes a dramatic different in your results and chances.
This is what I said:
Hello, my name is... I applied for the Citi Prestige card and received the letter. I was calling to see if the denial can be overtuned for a variety of reasons.
The lady proceeded to ask for my application number and may have restated the official rejection reason. I continued:
I know my application has been declined because I have too few accounts of credits listed.
And, yes, it is indeed true I only have 2 established credit cards. But, this is not because I'm not credit worthy, but because I am quite conservative with credit cards; I simply don't need that many.
My American Express card, which I’ve had for over 7 years, since 2009, and that has a $15,000 limit, was sufficient for my day to day needs. I also have a simple Bank of America credit card since 2013, just because it came with one of my accounts there.
As you can see on my report, I never had any issues with boths cards and always paid my bills in time.
I have a high income, and as such have no need for installment loans. I carefully manage my finances, I rent my main residence (and as such have no mortgage). I’m basically a very financially responsible individual. I graduated in Finance at XXX.
As my report shows you, I have absolutely 0 credit problems.
I'm not the kind of customer who signs up for many credit cards because I need the credit, or because I want the bonuses. As I mentioned, I'm conservative when getting credit cards. When I have a credit card that I'm satisfied with, there's no need for me to apply for others.
HOWEVER
Because I will be doing considerably more traveling this year, I decided to look for a great alternative to my American Express card; preferably a card with no foreign exchange fees and great reward partners. This search has led me to the Citi Prestige Card, a card I feel is a perfect match for my new traveling lifestyle, with benefits such as the 4th free hotel night and a more rewarding points system compared to my American Express.
There are various cards out there with the same high annual fees, but I feel the Citi Prestige is actually worth it, and as such do not mind paying for it.
Yes, I have “only” 2 established accounts and 1 new account, but I do have over 7 years of excellent history with reasonably high limit ($15k) and a credit score of 765 that Experian categorizes as “Very Good”.
Yes, I recently got approved for another card, a Chase Sapphire Preferred with a 20k limit, but this should only demonstrate that I'm actually credit worthy.
I applied for both the Chase and Citi because they are both great travel cards, but, unfortunately, only later learned that the Chase reward partners are actually not as good as a fit for my personal travels.
For example, I often stay at XXX, and XXX is a direct partner of Citi, but not of Chase.
As such, I'd just like to be given a chance to also have a relationship with Citi as I have with Chase, Amex and Bank of America. A relationship I am sure Citi will benefit from immersely as I am not in the habit of getting many accounts, chasing bonuses etc...
On the phone, I constantly tried to be nice and polite. I even apologized for the long speech. The EO agent said she didn't mind and took some notes. She said she would send it over for manual review, and I should get a phone call/response by next week Wednesday, no later than Friday.
She gave me her direct number and I was actually supposed to call back Wednesday, and then again on Friday, just in case if I missed the incoming call because of travels.
But I guess there's no need for that (although I might call anyway, just to say thanks)
In case she did decline immediately, I had the following rebuttal ready, but I didn't have to use it:
A colleague of yours mentioned to me that I should try again when I have more history on my newest Chase card, that has a limit of 20k.
I understand that. However, the fact that I never missed any payments over a period of more than 7 years with a 15 limit credit card should tell Citi that I can handle using a high limit card.
I would love to make the Citi Prestige my main credit card in daily usage, and I'm sure Citi Bank would benefit from this as well.
The request to open more credit cards in order to show more credit references, even though I already have 7 years of history, a score of 765, no missed payments ever, credit usage of just 1%...... that request....... I'm sure Citi doesn't really want me to get more competing cards.
Of course, I can wait 6 months, however, as I'll be traveling in the main time, I would love to be able to use a card during that period that I actually love.
Is there absolutely nothing you could do?
Now I didn't have to use that line, but figured to have it "ready", just in case. I was going to war after all
If the answer was "no" again, I even had this third and final rebuttal ready:
Would it be possible for me to, instead of a Citi Prestige, be approved for a Citi Thank You Premier Card, which also has no foreign transaction fees, and so I can become an actual customer of Citi and show myself to be a great client?
I have looked at the Citi Thank You Preferred and Citi Simplicity Card too, but I'm afraid they are both not useful, because of the foreign fees and my substantial travels.
Also didn't have to use it, but figured getting their second best card wouldn't be a bad way to start the relation either.
This is incredible! Very well done!!! Enjoy your new card and tell us of your travels. What a great outcome for you because you did not give up!
Congrats on your approval! You worked hard for it. I agree, I think you should call and personally thank her/him. Bon voyage!
