Citi Prestige denial

[ntenseone]

I have done a lot of reading/research and studying my feelings about whether or not to apply for my goal card and at the end I decided, "Why not. Let's see what happens."

Well, I was declined w/ the 7-10 day message.

I've seen some others get coached through recon and I was prepared for this to happen, so I want to make that recon call, but I have never had to do this with Citi before, so I wanted to check with you all and see what advice you may have.

My score ranges from 684-710

Util @ 22%

AAoA 1.6yrs

100% payment history

0 derogs

4/9 HP, depending on where I look

Income 130-ish

7/24

Some of the approval stories I've been reading were with WAY higher ?/24 or WAY lower income, etc., so I figured I'd just see where the chips landed.  I've got some larger purchases coming this month and my util will look bad for a short time, not to mention one of these purchases could completely  clear the SUB by itself which I figured would be helpful to be able to get this card now and have the SUB handled immediately, so it seemed like a reasonable time to apply.  My scores were 756-770 about 60 days ago, but we bought a new car and opened a couple other accounts, so that obviously didn't help. I should have applied then, but I wasn't ready to pull the trigger at that point. Oh well.

Any recon advice I could get would be appreciated.  

[CreditCrusader]

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@ntenseone wrote:

I have done a lot of reading/research and studying my feelings about whether or not to apply for my goal card and at the end I decided, "Why not. Let's see what happens."

Well, I was declined w/ the 7-10 day message.

I've seen some others get coached through recon and I was prepared for this to happen, so I want to make that recon call, but I have never had to do this with Citi before, so I wanted to check with you all and see what advice you may have.

My score ranges from 684-710

Util @ 22%

AAoA 1.6yrs

100% payment history

0 derogs

4/9 HP, depending on where I look

Income 130-ish

7/24

Some of the approval stories I've been reading were with WAY higher ?/24 or WAY lower income, etc., so I figured I'd just see where the chips landed.  I've got some larger purchases coming this month and my util will look bad for a short time, not to mention one of these purchases could completely  clear the SUB by itself which I figured would be helpful to be able to get this card now and have the SUB handled immediately, so it seemed like a reasonable time to apply.  My scores were 756-770 about 60 days ago, but we bought a new car and opened a couple other accounts, so that obviously didn't help. I should have applied then, but I wasn't ready to pull the trigger at that point. Oh well.

Any recon advice I could get would be appreciated.  

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I think the bolded information is the culprit here.

Not only did you recently open multiple new credit lines (including a new auto loan), but your FICO scores also dropped by 60-72 points. I'll bet a dollar and a cent THAT is what has them jittery.

Here's the other thing:

These are unconventional economic times of great uncertainty. Many lenders are being very guarded (CLDs, closing dormant accounts, etc.). Relying on broad data points pre-March 2020 isn't likely to serve you well right now. Heck, I'm seeing high 700-low 800 FICO MFers get denied for cards at times. You might wait a spell of time, let the new accounts age, and then try again when your scores recover a bit.

[Anonymous]

There is certainly no harm in attempting a recon, but keep your exepectations realistic. As for the process, see if they offer denial reasons and answer/provide assurances to their concerns and let the chips fall where they will. 

Your current profile is a little ways off from being in strong approval status though. Utilization is increased, average age is low, new accounts are present, and scores are borderline for prime card approval. 

[ntenseone]

Thanks, guys, and yeah, I know my position isn't what it was as if late. 

I do think I have at least a leg to stand on with Citi as I have 3 accounts in good standing,  but one of my newest accounts is with them.  I could see that maybe they want that account to mature some.

I'm maintaining a realistic stance, just figured I'd ask for a little jelp with recon if anyone has experience doing so with them.

[randomguy1]

Without a letter and not knowing the denial reason it could be a bit tough. I would mention you like the Prestige's card, benefits, and have upcoming travel that you could put spend towards.

[krmurrayjr10]

I agree with the other respondents that the multiple new accounts within the past 60 days are what led to the denial.

Do you have any other accounts with Citi? If you have an older account with Citi, that would help with a recon. If you already had another TY card with Citi that's been open for a year, you could upgrade it to the Prestige, but you would then of course forego the SUB. 

[ntenseone]

@krmurrayjr10 wrote:

I agree with the other respondents that the multiple new accounts within the past 60 days are what led to the denial.

Do you have any other accounts with Citi? If you have an older account with Citi, that would help with a recon. If you already had another TY card with Citi that's been open for a year, you could upgrade it to the Prestige, but you would then of course forego the SUB. 

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I have a Simplicity that's coming up on 1.5yrs old, a Diamond Preferred that's 2mo. old, and a Best Buy Visa that's about a year old.

[Red1Blue]

Sorry to hear about your decline. May be recon will help.

[Iusedtolurk]

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@ntenseone wrote:

I have done a lot of reading/research and studying my feelings about whether or not to apply for my goal card and at the end I decided, "Why not. Let's see what happens."

Well, I was declined w/ the 7-10 day message.

I've seen some others get coached through recon and I was prepared for this to happen, so I want to make that recon call, but I have never had to do this with Citi before, so I wanted to check with you all and see what advice you may have.

My score ranges from 684-710

Util @ 22%

AAoA 1.6yrs

100% payment history

0 derogs

4/9 HP, depending on where I look

Income 130-ish

7/24

Some of the approval stories I've been reading were with WAY higher ?/24 or WAY lower income, etc., so I figured I'd just see where the chips landed.  I've got some larger purchases coming this month and my util will look bad for a short time, not to mention one of these purchases could completely  clear the SUB by itself which I figured would be helpful to be able to get this card now and have the SUB handled immediately, so it seemed like a reasonable time to apply.  My scores were 756-770 about 60 days ago, but we bought a new car and opened a couple other accounts, so that obviously didn't help. I should have applied then, but I wasn't ready to pull the trigger at that point. Oh well.

Any recon advice I could get would be appreciated.  

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The worse that could happen is getting a NO and you already have that so go for it just be prepared to have the answers to alleviate any fears of risk they may have. 

Who knows you may end up conversing with the CSR that will do you justice.

[krmurrayjr10]

Ok, then I would also suspect that the Diamond Preferred being just 2 months old might have also counted against you. They might have just wanted, especially given current conditions, to see how you handled it before giving you a 4th Citi card.

I actually had several new accounts, including with Citi, when I was approved for the Prestige last year, but I imagine they have tightened up since then.