Income requirement for Citi Premier

[villemiami]

I received a letter from Citi saying that my application was denied. It also said your total annual income does not meet our minimum income requirements. If you think the amount listed above is wrong, please call us".

So I called them and told them that my monthly payment was $0. He updated my application with that, and it was denied again.

So should I say farewell to the Citi Premier or try again in 1 month with the same numbers?

If I should say farewell, which credit card do you advise that have a great sign up bonus? I need to buy a car in 1 to 2 months, so I'd like to pay my car using the new credit card I will apply for.

[Anonymous]

Farewell... 

As to buying a car with a CC.... unless you're looking at something under 5K it's probably less likely to happen as the dealers don't like eating the cost of the swipe fee.  Typically they'll limit a CC ro $500-$1000.

The trouble is your reportable income is going to slam against the wall for a big SUB.  The other issue is big sub's tend to have big AF's to compensate.  You're over 5/24 so that rules out the majority of lenders that have the biggers sub's and sticks you into a regional debacle where the sub's are lower but, the cards are easier to obtain.  The only big player that has options would be Amex since you're already in it would be a SP most likely.

Fiddling around with finding the right card might take you a day or two to pick a few.

https://frequentmiler.boardingarea.com/best-credit-card-sign-up-offers/

[villemiami]

For the Citi Premier, was it a hard pull or a soft pull? When I applied online, I had to call a number to confirm my income, and they told me the negative result.

Then, when I called to update my monthly payment to $0, they told me on the phone the result of the update.

[Anonymous]

Oh it was a HP most likely on 2 of your reports.

[Anonymous]

From my experience, no, having a favorable rent will not do anything about the income limit. It is an arbitrary limit and they don't care if your rent is affordable compared to your income.

However, I have found that they will tell you their exact income limit if you call and ask. I believe it was Discover who said 10k, so I would check if they have a suitable card. I didn't hear that low of an income limit from any other source, even my credit union (I didn't check the national credit unions listed on this site).

I also already have a card with Citi, and they said the main reason they turned me down was my app spree (I didn't know not to do this, previously). It almost sounded like they might bend the income limit in cases where an established customer has a good payment history. Might be worth calling to ask for reconsideration? Nevermind, I see you did already.

[Anonymous]

Navy Federal is a very generous lender, but usually on the second card, not necessarily the first. My income is now about 25K, started out at 17K earlier this year when I was approved for Discover. My first Navy card was for 1K, three months later my second card got 17K. A family member has a fixed income of about 18K, first Navy card was 3K (unlike me, she has no baddies on her report), second Navy card 12K.

DTI also plays a part, as both of us have relatively low DTI.