CITI Recon Letter: What do you think?

[Uncle_Money]

Long story short, I recently opened a checking and savings account with CITI. A personal loan for some home improvements would have come in handy so I applied during the signup process. DENIED due to too many inquiries. They pulled my EQ and I had 14 at the time, most of which were from a mortgage I aquired earlier this year.

I mailed CITI a recon letter and they mailed me back a letter stating their decision hasn't changed. I'm sending them another letter tomorrow and here it is:

***MY INFO GOES HERE***

Dear CITI,

I am writing to request a final reconsideration of the denial of my recent personal installment loan application.  I must admit I'm extremely upset with CITI as I feel my explanations are being ignored. Considering I hold an active checking account, a Diamond Preferred mastercard (paid in full each month) and a Professional credit card ($0 balance) with your institution, I find it insulting that CITI didn't even provide me with a counteroffer. It's pointless to do business with a bank that doesn't care to take these things into consideration when evaluating an application.

With that said, I will be closing all of my accounts with CITI and take my business elsewhere if I can't, at least, get a counteroffer on my loan application. In addition, I will stop recommending CITI to my colleagues, family and friends. There are plenty of banks available that will gladly do business with me. I pose no risk based on how I treat my credit obligations and my high income.

Should you have any questions, please feel free to contact me.  My mailing address and phone number is listed at the top of this letter.

Sincerely,

***MY SIGNATURE GOES HERE***

What do you guys think of the letter? BTW, I'm not bluffing. I don't need their low credit limit cards or their checking account so I'll follow through if they won't reconsider. Wish me luck

UM

[clocktick]

This is just my opinion, but I think you're putting way too much emotion into a business request.  I would take the feelings out and words such as "insulting" and "pointless" and stick with the facts.  They are a gigantic company and the person(s) who reads this may just consider you a PITA customer because of the "tone" of your letter.  What's that expression?  You attract more bees with honey than vinegar?  Something like that.

These things aren't personal, it's business.  Good luck!

[tntexans72]

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@clocktick wrote:

This is just my opinion, but I think you're putting way too much emotion into a business request.  I would take the feelings out and words such as "insulting" and "pointless" and stick with the facts.  They are a gigantic company and the person(s) who reads this may just consider you a PITA customer because of the "tone" of your letter.  What's that expression?  You attract more bees with honey than vinegar?  Something like that.

These things aren't personal, it's business.  Good luck!

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I agree...I think that CITI feel that the credit extended to him was all the risk they are willing to take. You have to admit, there were some warning signs...new checking account etc...wonder if any of that factor in their denial. Maybe it does for 3, 6 or 9 months in their internal system.....I would love to know.

My .02 to the orginal poster would be...don't be too upset and take away your business. I would wait 6 months, keep everything with them as status...than app again. If they refused than, I would go straight to their competitor and request what you were looking for. Let them compete for your business imo...the highest bidder will be your highest CL. Just hope it will work out for you

[score_building]

I would skip an additional recon and either give the relationship more time to develop affirmatively or let your feet do the walking.

[nuggets321]

+ 1 on the poster referencing the "emotional " response aspect of the letter. I personally , have been successful with a written recon to CITI.  In my honest opinion, I think maybe refrain from trying  to threaten them with moving your business elsewhere ?  Just stick to the facts and try and keep all positive FACTS and maybe "forget" to include anything that could be considered risky in your letter. I have seen well written letters go a loooooong way (beats the sh#t out of a 20 second phone call that it SO easy for them to say NO to) Best of luck - stay positive- let us know how it pans out

[score_building]

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@nuggets321 wrote:

+ 1 on the poster referencing the "emotional " response aspect of the letter. I personally , have been successful with a written recon to CITI.  In my honest opinion, I think maybe refrain from trying  to threaten them with moving your business elsewhere ?  Just stick to the facts and try and keep all positive FACTS and maybe "forget" to include anything that could be considered risky in your letter. I have seen well written letters go a loooooong way (beats the sh#t out of a 20 second phone call that it SO easy for them to say NO to) Best of luck - stay positive- let us know how it pans out

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+1

[ChesterPDexter]

I understand your position and anyone would feel just as annoyed as you do, but...

The impression this will give a person at Citi who reads your letter is:  Disgruntled, angry, problem customer.  If I were an employee, I would be thinking, "Good riddance - don't let the door hit you on the way out."  Here's the sad fact:  We customers are a dime a thousand to these big banks.  They don't care about how you feel.

Now, that said, I don't think there's anything wrong with letting them know about your annoyance, but you have to make it a "S___ Sandwich," as I call it.  Say something nice and/or positive, then firmly but politely and clearly outline your complaint, then follow up with something positive and hopeful.  They want to feel that they are helping you.  They won't want to work with someone who is airing disgust and threats to take your business elsewhere.

After all this is said, I just saw that you JUST opened a checking and savings at the time of application.   Maybe you're expecting too much, too soon.  Having credit cards with them should be a plus, but I think installment loans are hard to come by, for some reason.  We have had two with our local bank but we've had accounts with them for ten years, also.

[Anonymous]

I agree, this letter is overly emotional. I would make it more matter-of-fact.You could say something like this: "I wish to remain a loyal Citi customer but I also realize that if I can obtain more attractive options at another banking institution, then I will likely have to do my banking business elsewhere blablabla. However, my preference would be to stay with CIti. I hope you can offer me attractive options that meet my expectations and ensure a lon-time relationship between me and CIti."

[Anonymous]

That letter sounds exactly like something I would type (while being upset) but I have to agree with the other repliers in this thread.

Some say, "You get more bees with honey than with vinegar" and some say "The squeaky wheel gets the grease first"

Who know's which would work best for you????

I'm Wishing you the Very Best of Luck!!

[UFGuy2006]

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@Anonymous wrote:

That letter sounds exactly like something I would type (while being upset) but I have to agree with the other repliers in this thread.

Some say, "You get more bees with honey than with vinegar" and some say "The squeaky wheel gets the grease first"

Who know's which would work best for you????

I'm Wishing you the Very Best of Luck!!

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+1!