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Denied for insufficient income. Do you guys have any advice? - Update: Approved

creditwarrior2317616
Valued Contributor

Denied for insufficient income. Do you guys have any advice? - Update: Approved

Hi, everyone.

 

My mom has been denied the Citibank Double Cash Rewards card for insufficient income. Should I have her recon.?

 

Here is a breakdown of her credit profile:

 

Chase Card

Opened:  12/12/94

Credit limit: $12/$25,000

Credit Card

 

Chase Card

Opened: 3/02/1998

Credit limit: $122/$9,000

Credit Card

 

Syncb/JCPenny

Opened: 12/4/2004

Credit limit: $0/$13,000

Charge Account

 

Syncb/JCPenney

Opened: 01/19/2014

Credit limit: $2/10,000

Credit Card

 

TD BANK USA/Target Credit

Opened: 02/02/14

Credit limit: $77/$9,500

Credit Card

 

 

 

Sears/CBNA

Opened: 5/13/2013

Credit limit: $200/$10,780

Credit Card

 

 

Income: $27,945

Rent: $0--Dad pays for it.

Any thoughts would be appreciated! Smiley Wink

 

 

Mod note:  I've updated your subject to reflect your approvals; feel free to change/edit if you would like.  --UB

15 REPLIES 15
AverageJoesCredit
Community Leader
Mega Contributor

Re: Denied for insufficient income. Do you guys have any advice? ;)

I'd recon , I make way less and they approved me lol, no easy feat Haha. Wow, nice Chase limitsSmiley Happy. I know I get that response from Penfed so it's not great to hear. Your next responses will probably recommend getting more money or drive Uber. Seriously, wait for itSmiley Wink. Call and talk to them. Try and talk to a US based agent. Best of luck to MomSmiley Happy
Message 2 of 16
sjrn
Established Contributor

Re: Denied for insufficient income. Do you guys have any advice? ;)

They denied her based on the $28k income? Did she/can she use your dad's income? She has quite a few cards, great limits. Her cards/limits/long history "should" indicate income is ok. 



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Message 3 of 16
creditwarrior2317616
Valued Contributor

Re: Denied for insufficient income. Do you guys have any advice? ;)

I have seen you post really insightful content on this site, so I thank you for answering my question. Smiley Wink

 

Thanks for the reply! Smiley Wink

 

I had my mom recon, but she was stilled denied. I  spoke on her behalf (I speak English; she does not), and they told me (with my mom alongside me) that she has "too much exposure with Citibank-branded accounts" and "has an unhealthy debt-to-income ratio." I am surprised because she has a long credit history and has always paid her Sears Mastercard (which is issued by Citi) in full for the past 5 years. I know she does not make a lot, but she is responsible and is a simple woman. Regardless, do you think I should have her go for an American Express or Discover card? My mom really wants a new rewards cards. 

 

All the best to you! Smiley Wink

Message 4 of 16
AverageJoesCredit
Community Leader
Mega Contributor

Re: Denied for insufficient income. Do you guys have any advice? ;)

Wow, sorry to hear. Strange indeed. Youd be amazed at my exposure with Citi on my income but I'd like to think my responsible use and timely payments has helped.


Heres the good thing about credit. There ARE more than one lender. I think she could definitely find a nice reward card elsewhere. Check out the prequals for Discover and Amex. Even if not prequslified ,doesnt mean she cant be approved. I never get prequals lol.

If you like some specific recommendations please list her true ficos and her aaol and how many inquiries she has on her report. Thanks , also remember, some credit cards allow you or her in this case, to use her income and income she has reasonable access to, ie her husband.
Message 5 of 16
ecxpa
Valued Contributor

Re: Denied for insufficient income. Do you guys have any advice? ;)

I don't know the income requirement for Amex,  but the new Cash Magnet Card is hot right now

Message 6 of 16
creditwarrior2317616
Valued Contributor

Re: Denied for insufficient income. Do you guys have any advice? ;)

Here you go:

AAOA: 11 Years

Inquries: 1(EX) from Citi

 

TU: 801

EX: 766

EQ: 821

 

 

 

 

Message 7 of 16
creditwarrior2317616
Valued Contributor

Re: Denied for insufficient income. Do you guys have any advice? ;)

UPDATE: My mom just apped for the AMEX BCE and was approved for $11k and the Best Buy Citi Visa for $10k (she is going to finance a new TV)! MY MOM IS QUICK...LOL! XD

 

I am honestly shocked she was approved for the Best Buy Visa because she was JUST denied CIti's Double Cash card.

I will have her garden. 

Message 8 of 16
sarge12
Valued Contributor

Re: Denied for insufficient income. Do you guys have any advice? ;)


@creditwarrior2317616 wrote:

I have seen you post really insightful content on this site, so I thank you for answering my question. Smiley Wink

 

Thanks for the reply! Smiley Wink

 

I had my mom recon, but she was stilled denied. I  spoke on her behalf (I speak English; she does not), and they told me (with my mom alongside me) that she has "too much exposure with Citibank-branded accounts" and "has an unhealthy debt-to-income ratio." I am surprised because she has a long credit history and has always paid her Sears Mastercard (which is issued by Citi) in full for the past 5 years. I know she does not make a lot, but she is responsible and is a simple woman. Regardless, do you think I should have her go for an American Express or Discover card? My mom really wants a new rewards cards. 

 

All the best to you! Smiley Wink


One thing she should do before applying elsewhere...she is showing a tiny balance on most of her cards...pay them all to zero before statements cut except 1. AZEO is what it is commonly called. It would also look better if less of her cards had been store cards, but there is really nothing can be done now about that. I know many here disagree, but I've seen enough evidence of people with many store cards being declined for a major credit card, that I do think it has an effect. IMO...the major cc issuers just don't have as much respect for store cards, especially if it is the majority of your cards.

TU fico08=831 03/29/21
EX fico08=830 04/13/21
EQ fico09=840 04/01/21
EX fico09=828 04/03/21
EQ fico bankcard08=858 03/23/21
TU Fico Bankcard 08=862 03/29/21
EQ NG1 fico=802 01/21/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 9 of 16
sarge12
Valued Contributor

Re: Denied for insufficient income. Do you guys have any advice? ;)


@creditwarrior2317616 wrote:

UPDATE: My mom just apped for the AMEX BCE and was approved for $11k and the Best Buy Citi Visa for $10k (she is going to finance a new TV)! MY MOM IS QUICK...LOL! XD

 

I am honestly shocked she was approved for the Best Buy Visa because she was JUST denied CIti's Double Cash card.

I will have her garden. Smiley Wink


Congrats...the BCE is really good for grocery shopping, and if the Best Buy card is also a Visa, it is not a store card.

TU fico08=831 03/29/21
EX fico08=830 04/13/21
EQ fico09=840 04/01/21
EX fico09=828 04/03/21
EQ fico bankcard08=858 03/23/21
TU Fico Bankcard 08=862 03/29/21
EQ NG1 fico=802 01/21/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 10 of 16
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