CITI Recon Letter: What do you think?

[Anonymous]

I prefer not to deal with Citi at all, after what happend to my dad.  Employees inside Citi emptied his account about ten years ago after they fraudently called him saying that they need to replace his credit card (everything was linked back then, Checking,Savings, CCs ect).  He got it overnight, looked legitimate and everything (I guess it technically was), he goes to a branch to ask if everything is OK, they said yes.. Next day he attempts to use an ATM and all the money is gone.  It took him forever just to recover it.

Course, thats a personal experience..

[Uncle_Money]

Ok, ok, ok I guess I was a little emotional when I wrote this! I do want to thank everyone for their input as this helped me to revise the letter before I mailed it.

The revised letter is below. I dropped it at the Post Office today.

I mailed it to a different address than the first recon:

CitiBank Executive Review Department

P.O. Box 6000

Sioux Falls, SD 57117

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 disappointed with CITI's decision to deny my application. I feel the explanations in my previous letter have been ignored.

    I'm a Diamond Preferred MasterCard card holder since July 2010. I use the card heavily and I pay in full each month. I have never been late. In addition, I'm a Professional MasterCard card holder since July 2008. I currently have a $0 balance and I've never been late. I also have a checking account with your institution. This can all be verified through my social security number.

    Due to these facts, I was at least expecting CITI to provide me with a counteroffer. It doesn't make sense for me to do business with a bank that doesn't care to take these things into consideration when evaluating an application.

    With that said, I wish to remain a loyal CITI customer but I also realize that if I can obtain the installment loan I'm seeking at another banking institution, then I will likely have to do my banking and credit card business elsewhere. I pose no risk based on how I treat my credit obligations. I've managed a perfect credit record for nearly 10 years and my income exceeds XXXXXX per year. This can also be verified with documentation from my certified public accountant. I handle a mortgage payment of XXXX per month with ease. Repayment on an installment loan will not be a problem for me.   
 
    I hope CITI wishes to keep my business so I respectfully request that my application be reconsidered a final time for approval, even if the original amount requested is different than what I requested. Should you have any questions, feel free to contact me.  My mailing address and phone number is listed at the top of this letter.

Sincerely,

Uncle Money

[ChesterPDexter]

Wow, that was perfect!  Everyone should hire you to write their letters.  That was a perfect balance of insistent, logical, polite, and justifiably perplexed.  Good luck!  I cannot imagine any reasonable employee ignoring your letter.

[Uncle_Money]

Thanks Chester! I definitely put a lot into this letter. I will keep everyone posted on the results. I will also be happy to assist anyone with a recon letter

I strongly believe in mailing recon letters vs. calling. I've had luck with it in the past.

UM

[tntexans72]

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@Uncle_Money wrote:

Thanks Chester! I definitely put a lot into this letter. I will keep everyone posted on the results. I will also be happy to assist anyone with a recon letter

I strongly believe in mailing recon letters vs. calling. I've had luck with it in the past.

UM

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Thanks for sharing...just curious why you would have better luck sending in the request vs. calling to recon?

GL...and hope it's a success!!

[nuggets321]

Nicely done good sir.... good flow and well balanced. When I sent mine, I sent it certified mail with delivery confirmation and included copies of my credit reports and scores. I think the organized , written approach can really make a difference as youre not just another voice trying to score comething in a last ditch effort... let us know how it comes out !

[score_building]

Be ready for another canned response. If the loan is a priority, consider other options (if you haven't yet.) There are plenty of other good options than Citibank to consider. 

It seems clear there is some expectation that an institution value their individual banking relationships,it is not unusual to find a more personal approach absent with a bank like Citi.  This is not to say they don't have their strengths and good attributes but may need to accept that it can take more time to develop the relationship hoped for and in the meantime check out other options if it is not worth the wait.

Don't remember seeing a post regarding a successful recon for a personal loan, it is a different review process than with a cc, so if it flies could be breaking new ground. In any case, hope you find the best match for this particular loan, whether or not it turns out to be Citi.

[Anonymous]

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@Uncle_Money wrote:

Thanks Chester! I definitely put a lot into this letter. I will keep everyone posted on the results. I will also be happy to assist anyone with a recon letter

I strongly believe in mailing recon letters vs. calling. I've had luck with it in the past.

UM

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I've had no luck with recons over the phone, so that's why I decided to try mailing Citi a recon letter too. Arrived there yesterday according to the tracking info. Now I'm wondering how long it'll take before they actually contact me back - obviously I'll rather get an approval, but I'm hoping they'll at least contact me back with a denial if they don't approve the recon. Not really sure how long it takes them for a response.

[Anonymous]

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@ChesterPDexter wrote:

Wow, that was perfect!  Everyone should hire you to write their letters.  That was a perfect balance of insistent, logical, polite, and justifiably perplexed.  Good luck!  I cannot imagine any reasonable employee ignoring your letter.

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+100000000

So much better than your original letter, man (and I don't mean your gender LOL) I'm hoping this works out for you, please do keep us updated.

Wishing You and Yours a Very Happy Holiday Season.