Citi Prestige Instantly Denied FICO 742

[Anonymous]

Unfortunately I did not check the prequalified page before. I applied on the basis of multiple older data points of people having success with lower credit scores, higher number of inquiries, and higher utilization.

I am considering applying for the Premier as the best alternative with the goal to change it into the Prestige in one year. I am prequalified for the Premier, but I still have to find out if it is worth the risk. On the post I previously quoted another person 3 months ago was rejected for the Premier with the same exact reason. At the end they applied for a Chase Freedom...

[Anonymous]

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@Anonymous wrote:

Seems a bit bogus to me.  3 open accounts on your CR should have been sufficient IMO.  I'd like to hear if anyone else with 3 or less accounts has been denied for a Citi product for their file seemingly being too thin.

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i have three open revolvers all in good standing oldest over 18 months never a late or bad mark scores 724 - 731 and cant pre qual with citi i wont waste a HP on them.

[blackfines1]

from my experience . i started with citi secured card 3y ago. after 9 month i graduate to unsecured . 01/15 i apply for AA was approuved. 2 weeks later applied for premier was also approuved. my socre drop around 720 so i wait little bit. 05/15 i apply for citi prestige was approuved. fico around 740

[Anonymous]

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@Anonymous wrote:

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i have three open revolvers all in good standing oldest over 18 months never a late or bad mark scores 724 - 731 and cant pre qual with citi i wont waste a HP on them.

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But just because you aren't getting a pre-qual doesn't mean you wouldn't be approved if you applied.  I get not wanting to waste a HP in the event of a denial, though.

[ChargedUp]

Kind of moving away from Citi, as you mentioned Chase CSR as an acceptable alternative. I got in with Chase in an app spree when I only had a Comenity card, Discover and Capital One, 2 of the 3 being less than 6 months old. Considering your stats, I think you have a decent shot at getting a CSR card. From what I understand, the only underwriting difference between CSP and CSR is qualifying for at least a $10K CL, so it appears there's no special internal profile "traits" that they look for beyond what is typical for getting in with Chase. You have history with 3 other cards and your scores are in the right place. You're obviously under 5/24... If this was me, I'd give Chase a shot and forget about Citi for the time being. If the CSR doesn't work out to be what you're looking for, you'll have one of the Citi Prestige cards direct competitors under your belt and if that doesn't spark Citi's interest in you, I don't know what will!

[Anonymous]

This is just an update to my data point.

Today I have rejeived the official denial letter that (unsurprisingly) states just "Too few satisfactory credit references were recorded on your credit bureau report" with no recon phone number to call.

Today I decided to call the EO to try my third recon call. The person on the phone has found notes about one of my previous calls from the previous CSR, but was willing to listen to some additional reasons. I explained again my situation, why I only have three cards, why I need the Citi Prestige, the fact that my work involves travels, the fact that I have relatively high credit limits already, etc. Finally, I asked if I can have the income of my SO considered as part of my application. The CSR said it was possible as long as I have access to such income: this increased my total income to 170k+. She added the new income and some notes about my personal circumstances and sent my application in for manual review.

I know this may result in another HP with no guarantee that my denial will be overturned, so I know the risks and don't have big expectations. The CSR told me I should receive the decision within three weeks. For now I will wait for the decision before applying for alternatives.

[Anonymous]

Stranger things have happened when utilizing contact options like the EO.  Bump in income might get you over the hurdle but, I'm guessing they want to see 5 TL's with at least a year of experience.  If your SO has some lines to add you to it might push you over the edge in say 3-6 months if you went for it again.  

Just sit tight and don't make any changes until they come back with a response.  Sudden changes can derail something like this that is in process already.

[Anonymous]

I have received a physical letter from Citi. It is similar to the first denial letter, but it starts with:

"As you requested, we reviewed your application for the Citi Prestige account a second time. However, we still can't approve it because: Too few satisfactory credit references were recorded on your credit bureau report"

Another difference is that the first denial letter ends with this sentence: "We hope we were clear in explaining this decision. Feel free to contact us if you have any questions."

The second review denial letter  ends just with: "We hope we were clear in explaining this decision" (with no "feel free to contact us").

At this point I have to accept the denial and look for some other products. I checked my three credit reports and I only have one hard pull from the first Citi Prestige application. They did not hard pull again for the "re-review". Also, having a much larger declared income did not help for this application.

[Anonymous]

Hey it’s okay! Citi doesn’t like me either! Citi in my mind is a harder nut to crack than Chase.

I recommend looking at the CSR in your case if you are still under 5/24. It seems you might have an easier time or look at the premium AMEX options. That sizable CL from AMEX tells me that AMEX would be happy to give you another card.

[Anonymous]

I’m a bit surprised after all that follow up the result was the same. Your file is a bit thin, but it’s good. They’re probably wanting you to start with the Premier. 

As as others have said, you could give CSR a shot. It’s  pretty similar, better in some areas, worse in others.