Citi Prestige Denial

[BigLawGal]

Hi All. I'm a long time reader, first time poster. I applied tonight for the Citi Prestige inticed by the 75k points bonus. I was denied My scores range from 743-757. My utilization is 7% and I have had 2 inquiries this year. I have no Citi cards, but a few other premium cards. Income is 160k+ My newest card is 5 mos old. I tried calling to see why I was denied, but the agent stated I needed to wait for the official letter or call tommrrow. I really want this card as I have a wedding in Vegas planned next week and it'd be nice to have that 4th night free. Essentially, what can I do? Has anyone had luck with asking for reconsideration? 

[Anonymous]

I just have a Citi DC card not yours. I thought I recall reading that Citi approvals come as the spirt moves them and not based on anything else.

[BigLawGal]

Update: it looks like the issue is too many inquiries on my TU report. There have been 2 inquiries in the past 8 months. Oh well...maybe next time. I didn't know Citi was that much of a stickler re: inquiries. 

[Anonymous]

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@BigLawGal wrote:

Update: it looks like the issue is too many inquiries on my TU report. There have been 2 inquiries in the past 8 months. Oh well...maybe next time. I didn't know Citi was that much of a stickler re: inquiries. 

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I find it very hard to believe that your  2 inquiries have much to do about  you getting declined. .  

[CreditCuriosity]

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@Anonymous wrote:

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@BigLawGal wrote:

Update: it looks like the issue is too many inquiries on my TU report. There have been 2 inquiries in the past 8 months. Oh well...maybe next time. I didn't know Citi was that much of a stickler re: inquiries. 

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I find it very hard to believe that your  2 inquiries have much to do about  you getting declined. .  

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very strange reason indeed as got 3 citi cards in the last 7 - 8 months with umm say 8+ inquires in the last year and more likely last 6 months.  Citi is a weird one sometimes.  I have umm a ton of new accounts in the last year or two as well when I mean a ton I mean a ton like 20+

[AverageJoesCredit]

2 inqs , thats blowing smoke in the wind. Only Citi would turn down a good profile with 160k income SMH, i would look elsewhere.

[heyryan]

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@BigLawGal wrote:

Hi All. I'm a long time reader, first time poster. I applied tonight for the Citi Prestige inticed by the 75k points bonus. I was denied My scores range from 743-757. My utilization is 7% and I have had 2 inquiries this year. I have no Citi cards, but a few other premium cards. Income is 160k+ My newest card is 5 mos old. I tried calling to see why I was denied, but the agent stated I needed to wait for the official letter or call tommrrow. I really want this card as I have a wedding in Vegas planned next week and it'd be nice to have that 4th night free. Essentially, what can I do? Has anyone had luck with asking for reconsideration? 

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Unfortunately, from my own experience, and reading lots of similar posts, "Too many inquiries" seems to be a generic reason that's given when the creditor doesn't want to give you the real reason they're declining the app. (Especially if there are no egregious derogs like chargeoffs, BK, etc) I had the same experience a few months ago with only 2 or 3 EQ inquiries. I pushed Citi on a couple recon calls, but they wouldn't do anything besides read from a script. HOWEVER...

Around the same time, I applied for and was declined the Merrill+ card, and BofA gave me the same "Too many inquiries" reason. I called their recon, and they actually gave me the real reason I was declined. I had opened a 3 or 4 new cards in the previous year, including a BofA business card, and they really just wanted to see more history with those card before giving me another one. That was SO much more helpful than the boilerplate, and I thanked her repeatedly for giving me some direction that would actually help me be a better credit consumer.

You said your newest card is 5 months old - how about other new cards? What's your AAoA? Any negative experience with Citi ever?

I'm sorry they weren't more transparent, but that seems to be a pretty standard response unfortunately :\

[gravytrain912]

where you prequalified???

[BigLawGal]

Thanks everyone for the responses.

To my knowledge, I was not pre-qualified. I wasn't able to exactly check and if something came via ail it would've been a previous address. When I tried the citi pre-approval website nothing generated. I received a message along the lines of "lack of history unable to match" I have no history with cit so I assu,ed that was the issue. This was my first time ever applying for anything with them and I have no accounts. AAoA Is 3.5 years. I'm only 26 and didn't get my first CC  until I graduated college. No adverse action ever. The last card I opened was a J Crew card. I'm looking forward to the rejection letter, which will hopefully provide more insight 

[Anonymous]

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@heyryan wrote:

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@BigLawGal wrote:

Hi All. I'm a long time reader, first time poster. I applied tonight for the Citi Prestige inticed by the 75k points bonus. I was denied My scores range from 743-757. My utilization is 7% and I have had 2 inquiries this year. I have no Citi cards, but a few other premium cards. Income is 160k+ My newest card is 5 mos old. I tried calling to see why I was denied, but the agent stated I needed to wait for the official letter or call tommrrow. I really want this card as I have a wedding in Vegas planned next week and it'd be nice to have that 4th night free. Essentially, what can I do? Has anyone had luck with asking for reconsideration? 

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Unfortunately, from my own experience, and reading lots of similar posts, "Too many inquiries" seems to be a generic reason that's given when the creditor doesn't want to give you the real reason they're declining the app. (Especially if there are no egregious derogs like chargeoffs, BK, etc) I had the same experience a few months ago with only 2 or 3 EQ inquiries. I pushed Citi on a couple recon calls, but they wouldn't do anything besides read from a script. HOWEVER...

Around the same time, I applied for and was declined the Merrill+ card, and BofA gave me the same "Too many inquiries" reason. I called their recon, and they actually gave me the real reason I was declined. I had opened a 3 or 4 new cards in the previous year, including a BofA business card, and they really just wanted to see more history with those card before giving me another one. That was SO much more helpful than the boilerplate, and I thanked her repeatedly for giving me some direction that would actually help me be a better credit consumer.

You said your newest card is 5 months old - how about other new cards? What's your AAoA? Any negative experience with Citi ever?

I'm sorry they weren't more transparent, but that seems to be a pretty standard response unfortunately :\

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Absolutely correct.  Almost never will a creditor deny you solely because of inquiries.  They may give that reason but there is something else that they don't like that led to the denial.