Very Upset w/Strata Denial after planning and hard work! EO Resolution Ticket Submitted!

[youngandcreditwrthy]

Hi All, 

So I applied for Citi Strata about a week ago when my inquiries were 1/6 2/12 and 7/24 (another three are going to fall off soon); this was on Experian. TU and EQ are lower with a total of 6 and 3 respectively. My velocity also decreased as I opened 2 accounts in 6 months, 3 in 12 and 7/24. Several of those accounts are about to hit two years. 

I confidently went to apply for Citi Strata and was immediately denied with a 736 EXP Fico, and also 11% utilization. 

Got the letter in the mail with the reference number. I skipped the regular customer service and recon numbers. I had the direct line to an individual who got my Citi Diamond approved via the ER team at Citi Cards, and this number still worked after around 13 years!!!!!! LOL

I called the number, it was a different person in the same department. Also, there was a delinquency noted, of which I have none???? Where is Citi getting their information!????

I don't really need the card, but Citi has got to change something about their algorithm. How is it I get BOMBARDED BOTH VIA SNAIL MAIL, MY EMAIL, AND ON EXP's website and CK's website to apply for all these Citi cards, including AA, Strata elite etc with "outstanding" chances.. and then I pull the trigger because I need to up my travel card game and get denied!!

My goal here is to get approved for a minimum of $5k. All of my business, personal checking, previous Citi cards (3) have been paid off in full.. and I have almost 20 years of history with them. All great history, never late, paid some interest - not a lot - so I should be an excellent candidate for a reconsideration. The representative was pretty quiet, softspoken I should say, and I referenced that I did not break any of Citi's rules of 1/8 and 2/65. Spoke of my excellent utilization, the fact I'm able to pay my giant student loan payment on time unlike half of current borrowers. 

I'm just trying to get a travel card here. and I hope ThankYou points are worth it cause the sub I got in the mail was I think 30k points plus 10k for adding an authorized user and then 15 mos 0% on Ps&BTs. But truthfully need a couple travel cards..... going to Wine Country then gonna back track and go to NY!

[SRT4kid93]

What was their denial reason? I'm assuming the letter must have had at least 1 right?

[crystal626]

They're being very stingy with this card for some reason. Did you ever have the Rewards+? 

[Patient957]

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@youngandcreditwrthy wrote:

 Also, there was a delinquency noted, of which I have none???? Where is Citi getting their information!????

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This stands out to me.  If they're saying you have delinquency, that could definitely be a reason for the denial.  Did you ask the rep what delinquency they're referring to?

[FicoMike0]

I think chiti turned me down for something, maybe a deposit account. Couldn't identify me or something, not sure. Anyway, they're nothing special, I haven't tried them again. There are lots of travel cards, usb connect, navy flagship...

[CreditCrusader]

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@youngandcreditwrthy wrote:

I'm able to pay my giant student loan payment on time unlike half of current borrowers. 

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If I was a betting man, I would wager THIS is what has them spooked.

You must remember, these lenders are seeing some pretty disturbing dynamics relative to student loans. 42.7 million people owe some form of student loan debt. Over 9 million (over 20%) are either 90 days late or already defaulted...and that number is likely to increase in the months to follow.

You're able to pay at the moment - which is great - but the lender may see that "giant student loan payment" and back away. Given the fact that you've checked their other boxes, it's the logical conclusion.

Remember also that CCCs give some pretty odd reasons (some seemingly made up) for denying credit. They're a collection of odd ducks to start with.

[dfwxjer]

What department are you calling for this backdoor recon? Citi's internal recon process is entirely different than it was years ago so I'm curious what group you spoke with. 

Further, did you request a copy of the credit report they used to make their decision? If they're seeing delinquency then you'll want to reconcile this against what you see when you pull your reports so you can clear up any inaccuracies. 

Finally, what are your travel needs and what are you looking for in a travel card? Home airport? Is lounge access important? Do you have a preferred airline? 

[youngandcreditwrthy]

@crystal626 never had the rewards+ but it had been recommended to me on all these different sites and I got mailers for it for the past 6 months to a year before the offers started on the Stata.. so it was the same sitaution... I just didn't understand that particular card back then. Didn't apply for Rewards+ though ever. 

[youngandcreditwrthy]

@Patient957  she said a loan officer would have to look at it. I'm not sure, but I'd love to know, and I'd love to have my app manually reviewed. She took a lot of notes of my explanation. She was very very nice, albeit she forwarded my app to a loan officer. 

it just doesn't make sense. I get it, they are't required to lend me any money... it's a publicly traded co operating in a private market. I get that, but my risk is incredibly low in terms of default. I have no kids, been in the same industry for 15+ years, have ample savings, almost paid off my car two years ahead of time. DTI low in the 10% range. even paying my student loans, and I made that point that in a time where they're predicting 50% of students, former borrowers can't pay their loans, I'm paying mine.. my huge 700 payment. lol

[youngandcreditwrthy]

@SRT4kid93  yeah, it was "too many inquiries" which I had 1 in 6 months on Exp which is all the pulled and even less on the others. Equifax is down to 3 total inquiries all from 2023 and early 2024.