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Denied for Citi Custom Cash

Optimistic1
Member

Re: Denied for Citi Custom Cash

Well, this is a new one for me. 

The second reason they stated was too many recently opened accounts. Understandable. 
The FIRST reason was "lack of recent credit activity". What? Smiley Surprised

Have I been harming my credit profile by not letting much report? I have 15 CCs and routinely use most of them. Some only get a small auto bill to keep them alive. But at least 5 get monthly regular spend and another 3-5 get bursts of spend every 2-3 months. In order to keep my reported utilization low, I have been paying most of them before the statement cuts. 

Thank you so much for the number. I'm going to go update my original thread. 

Message 11 of 20
small-giraffe
Valued Member

Re: Denied for Citi Custom Cash

I'm similarly baffled by the last reason they gave me: "too few bank revolving accounts." Is 18 cards nowhere near enough, Citi? Smiley Wink

Message 12 of 20
Optimistic1
Member

Re: Denied for Citi Custom Cash


@small-giraffe wrote:

I'm similarly baffled by the last reason they gave me: "too few bank revolving accounts." Is 18 cards nowhere near enough, Citi? Smiley Wink


Good grief - that's bizarre! Smiley Frustrated

Message 13 of 20
FinStar
Moderator

Re: Denied for Citi Custom Cash


@Optimistic1 wrote:

@small-giraffe wrote:

I'm similarly baffled by the last reason they gave me: "too few bank revolving accounts." Is 18 cards nowhere near enough, Citi? Smiley Wink


Good grief - that's bizarre! Smiley Frustrated


My understanding, whenever that particular negative reason code pops up, it may mean that the overall proportion of bankcard revolving accounts reporting actively is fairly limited or the proportion of bankcards vs retail cards is low.  

 

So, I don't think the aggregate count is the main reason.  But, if only a small percentage of the 18 revolving accounts is reporting some activity then it may appear as a disproportionate use of [bankcard] revolving credit (in their eyes).

Message 14 of 20
small-giraffe
Valued Member

Re: Denied for Citi Custom Cash


@FinStar wrote:

@Optimistic1 wrote:

@small-giraffe wrote:

I'm similarly baffled by the last reason they gave me: "too few bank revolving accounts." Is 18 cards nowhere near enough, Citi? Smiley Wink


Good grief - that's bizarre! Smiley Frustrated


My understanding, whenever that particular negative reason code pops up, it may mean that the overall proportion of bankcard revolving accounts reporting actively is fairly limited or the proportion of bankcards vs retail cards is low.  

 

So, I don't think the aggregate count is the main reason.  But, if only a small percentage of the 18 revolving accounts is reporting some activity then it may appear as a disproportionate use of [bankcard] revolving credit (in their eyes).


Hm, 13 of my 18 cards are currently reporting non-zero balances, though, so I'm still baffled.

Message 15 of 20
Carmy03
Established Contributor

Re: Denied for Citi Custom Cash

Sorry for your denial but thanks for providing datapoints.

Message 16 of 20
Optimistic1
Member

Re: Denied for Citi Custom Cash


@FinStar wrote:

@Optimistic1 wrote:

@small-giraffe wrote:

I'm similarly baffled by the last reason they gave me: "too few bank revolving accounts." Is 18 cards nowhere near enough, Citi? Smiley Wink


Good grief - that's bizarre! Smiley Frustrated


My understanding, whenever that particular negative reason code pops up, it may mean that the overall proportion of bankcard revolving accounts reporting actively is fairly limited or the proportion of bankcards vs retail cards is low.  

 

So, I don't think the aggregate count is the main reason.  But, if only a small percentage of the 18 revolving accounts is reporting some activity then it may appear as a disproportionate use of [bankcard] revolving credit (in their eyes).


 

I have 15 total and 3-5 of them have been reporting balances in recent months. I only have 2 strictly retail CC (Macy's & Sync Amazon Prime). I do have Visa/MC versions of store CCs (4). I thought those reported as bank cards. I have another 8 that are strictly bank cards. The 15th isn't a CC - it's PayPal credit. 

Honestly, my credit needs have changed so much in the last few years that I don't need a lot of them and it's a chore to keep them alive. But I'm always hesitant to straight up close anything that isn't costing me an annual fee. I don't need PPC and could easily close that if it is causing any harm. How does that report or look to bank creditors? I don't need my Macy's store CC and struggle to keep it alive. But I HAVE to - it's my oldest card at 32 years. I was going to let my Sync Amazon close naturally from lack of use. But now I'm wondering if it's wiser to wait and see how the Chase Amazon situation shakes out. I have that one, too. I have another Sync, JCPMC, that I would also gladly let close. 

When I look at the most recent cards that reported balances, there were 3 bank cards and 2 retail. So maybe that's it. Do I need to close a couple retail cards, or will letting more of my banks cards report balances correct the ratio, if that is the problem they saw? 

Message 17 of 20
FinStar
Moderator

Re: Denied for Citi Custom Cash


@Optimistic1 wrote:

@FinStar wrote:

@Optimistic1 wrote:

@small-giraffe wrote:

I'm similarly baffled by the last reason they gave me: "too few bank revolving accounts." Is 18 cards nowhere near enough, Citi? Smiley Wink


Good grief - that's bizarre! Smiley Frustrated


My understanding, whenever that particular negative reason code pops up, it may mean that the overall proportion of bankcard revolving accounts reporting actively is fairly limited or the proportion of bankcards vs retail cards is low.  

 

So, I don't think the aggregate count is the main reason.  But, if only a small percentage of the 18 revolving accounts is reporting some activity then it may appear as a disproportionate use of [bankcard] revolving credit (in their eyes).


 

I have 15 total and 3-5 of them have been reporting balances in recent months. I only have 2 strictly retail CC (Macy's & Sync Amazon Prime). I do have Visa/MC versions of store CCs (4). I thought those reported as bank cards. I have another 8 that are strictly bank cards. The 15th isn't a CC - it's PayPal credit. 

Honestly, my credit needs have changed so much in the last few years that I don't need a lot of them and it's a chore to keep them alive. But I'm always hesitant to straight up close anything that isn't costing me an annual fee. I don't need PPC and could easily close that if it is causing any harm. How does that report or look to bank creditors? I don't need my Macy's store CC and struggle to keep it alive. But I HAVE to - it's my oldest card at 32 years. I was going to let my Sync Amazon close naturally from lack of use. But now I'm wondering if it's wiser to wait and see how the Chase Amazon situation shakes out. I have that one, too. I have another Sync, JCPMC, that I would also gladly let close. 

When I look at the most recent cards that reported balances, there were 3 bank cards and 2 retail. So maybe that's it. Do I need to close a couple retail cards, or will letting more of my banks cards report balances correct the ratio, if that is the problem they saw? 


IMO, trying to make sense or do a deep-dive on some of the 'broad' negative reason codes will drive anyone to insanity.  I wouldn't change much in order to satisfy reason codes that can inherently change like a moving target.  Specific codes that address certain factors such as derogatory data, inquiries, new accounts, sure.  But I wouldn't go on mass closures -- unless you feel this would be the right time to address any 'dead weight.'

 

So, don't close PayPal Credit or Macy's if it's not hurting your profile.  Perhaps rotate activity on dormant accounts (or accounts that get seldomly used) and let more balances report naturally (within reason).  If you're doing the AZEO method, perhaps reconsider that strategy unless you're going to be in a position that requires your profile/scores to be optimized.  Just my .02¢.

Message 18 of 20
Optimistic1
Member

Re: Denied for Citi Custom Cash

 

 


IMO, trying to make sense or do a deep-dive on some of the 'broad' negative reason codes will drive anyone to insanity.  I wouldn't change much in order to satisfy reason codes that can inherently change like a moving target.  Specific codes that address certain factors such as derogatory data, inquiries, new accounts, sure.  But I wouldn't go on mass closures -- unless you feel this would be the right time to address any 'dead weight.'

 

So, don't close PayPal Credit or Macy's if it's not hurting your profile.  Perhaps rotate activity on dormant accounts (or accounts that get seldomly used) and let more balances report naturally (within reason).  If you're doing the AZEO method, perhaps reconsider that strategy unless you're going to be in a position that requires your profile/scores to be optimized.  Just my .02¢.


Will drive anyone to insanity? I think it already did for me in less than 48 hours. Smiley Tongue

SouthJamaica explained some more points to me, in another thread, about how various CCs report. Thank you so much to both of you. Looks like I can chill about this for now and simply pay a little more attention to which CCs report so I show bank card use. I don't have a need for a mortgage or other loan for the foreseeable future, so no need for AZEO. 

I wish Macy's would upgrade me to the Amex version so I could use it outside of the store. It's been a challenge since my daughter went off to college and I removed DH. They used to be the heavy users! 

Message 19 of 20
itzfrank
New Member

Re: Denied for Citi Custom Cash

Since we're doing random theories - I got declined too. 808 score, lots of available credit ($150k) with almost no utlization ($1k). My reasons were also odd and not particularly relevant. My theory is they don't want to give people who don't need credit more credit. It's pretty clear from my reports that I don't pay interest to anyone and I have nearly every cashback harvesting method available - so why give me another card?

Message 20 of 20
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