cancel
Showing results for 
Search instead for 
Did you mean: 

Citi Closed All My Accounts

tag
Anonymous
Not applicable

Re: Citi Closed All My Accounts


@Anonymous wrote:

Guess this means I shouldn't apply any time soon for the AA Executive Workd Elite card that I want.  I'm sure they won't like all my new accounts 


I want this one with 100K offer. Hopefully they don't offer again until fall.

Message 61 of 275
kdm31091
Super Contributor

Re: Citi Closed All My Accounts

I think the general message is we all could stand to wait longer in between apps. Since I just a couple new accounts (well actually I got more like 4 but only kept 2) in November/December, I won't be getting anything new in 2015. Have to let things age. As much as credit is a hobby for many of us it is also not a game and we can't go crazy with it.

Message 62 of 275
chalupaman
Super Contributor

Re: Citi Closed All My Accounts


@kdm31091 wrote:

I still feel as though they should have declined you, even on recon, if too many accounts with them was an issue, instead of giving you the accounts and then saying oh, nevermind, we're gonna close all of your accounts with us.


Yup. With their store cards, they pull EQ instead of EX so that's part of the reason I was able to get those. 

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down
Message 63 of 275
Anonymous
Not applicable

Re: Citi Closed All My Accounts


@kdm31091 wrote:

I think the general message is we all could stand to wait longer in between apps. Since I just a couple new accounts (well actually I got more like 4 but only kept 2) in November/December, I won't be getting anything new in 2015. Have to let things age. As much as credit is a hobby for many of us it is also not a game and we can't go crazy with it.


I've got 6 new accounts in 45 days.  Time to chill and garden for real.

Message 64 of 275
Anonymous
Not applicable

Re: Citi Closed All My Accounts


@chalupaman wrote:

I'm obviously not happy but at the same time, I gotta take my lumps and just accept what happened here and move on from Citi for a while and then contact them back to see if they'll reopen any of my accounts. I don't even use my card with them anymore so it's not that big of a loss or anything but still. I was extremely livid for a bit and shocked at what happened but it's also a wake up call for me to slow down too. It would have been at least nice to have been notifed by phone as to what happened. I really need some advice from someone who's been through this.

 

No baddies or anything like that on my report. Just wanted to write this to let everyone know to be very careful.


WOW! This is a shocker ... makes me nervous. Feel your pain and know going to the garden is where I belong. Whew ... Smiley Sad

Message 65 of 275
longtimelurker
Epic Contributor

Re: Citi Closed All My Accounts


@kdm31091 wrote:

I can see the value in stopping impulse apps. We've all been guilty of those,  like me back in November with my impulse app of  Citi thank you preferred what a useless card!

 


Re approve then shut down:  we see this from all issuers, e.g. the posts about FR soon after getting multiple Amex cards.

 

While we refer to Citi (or Chase or Amex) there are of course really several different groups inside these orgs.    So when you app, you may get automatically approved based on credit score, and even with a manual review, the focus is really on "should we give the applicant this card and on what terms"    Then there are the marketing groups who will probably continue to send OP "preapproved" offers and then, most critically, are various risk management or security groups, who look at a bigger picture.  I'm sure the shutdown was triggered by these groups' algorithms, too much new credit in too short a time or whatever.   They had no role in approving the last card, but now it is there, they look and don't like what they see!

Message 66 of 275
kdm31091
Super Contributor

Re: Citi Closed All My Accounts

I get what you're saying. A certain section of Citi approves you for whatever card, but someone in the bigger picture of Citi can still look at your overall list of accounts and say it's too much. Makes sense

Message 67 of 275
chalupaman
Super Contributor

Re: Citi Closed All My Accounts


@longtimelurker wrote:

@kdm31091 wrote:

I can see the value in stopping impulse apps. We've all been guilty of those,  like me back in November with my impulse app of  Citi thank you preferred what a useless card!

 


Re approve then shut down:  we see this from all issuers, e.g. the posts about FR soon after getting multiple Amex cards.

 

While we refer to Citi (or Chase or Amex) there are of course really several different groups inside these orgs.    So when you app, you may get automatically approved based on credit score, and even with a manual review, the focus is really on "should we give the applicant this card and on what terms"    Then there are the marketing groups who will probably continue to send OP "preapproved" offers and then, most critically, are various risk management or security groups, who look at a bigger picture.  I'm sure the shutdown was triggered by these groups' algorithms, too much new credit in too short a time or whatever.   They had no role in approving the last card, but now it is there, they look and don't like what they see!


Hmmmmm I'm very intrigued by this whole processs. I never understood fully how that could work but you've really cleared up a whole lot for me. Both store cards I got from Citi I also had to call in to get approved. Neither were instant approvals.

 

And of course there was that manager I talked to on the phone that I thought I had annoyed. 

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down
Message 68 of 275
Anonymous
Not applicable

Re: Citi Closed All My Accounts


@chalupaman wrote:

@longtimelurker wrote:

@kdm31091 wrote:

I can see the value in stopping impulse apps. We've all been guilty of those,  like me back in November with my impulse app of  Citi thank you preferred what a useless card!

 


Re approve then shut down:  we see this from all issuers, e.g. the posts about FR soon after getting multiple Amex cards.

 

While we refer to Citi (or Chase or Amex) there are of course really several different groups inside these orgs.    So when you app, you may get automatically approved based on credit score, and even with a manual review, the focus is really on "should we give the applicant this card and on what terms"    Then there are the marketing groups who will probably continue to send OP "preapproved" offers and then, most critically, are various risk management or security groups, who look at a bigger picture.  I'm sure the shutdown was triggered by these groups' algorithms, too much new credit in too short a time or whatever.   They had no role in approving the last card, but now it is there, they look and don't like what they see!


Hmmmmm I'm very intrigued by this whole processs. I never understood fully how that could work but you've really cleared up a whole lot for me. Both store cards I got from Citi I also had to call in to get approved. Neither were instant approvals.

 

And of course there was that manager I talked to on the phone that I thought I had annoyed. 


Don't all CCC operate like this?

Message 69 of 275
yfan
Valued Contributor

Re: Citi Closed All My Accounts


@kdm31091 wrote:

I can see the value in stopping impulse apps. We've all been guilty of those,  like me back in November with my impulse app of  Citi thank you preferred what a useless card!

 


I always interpreted "Thank You Preferred" as "We prefer to thank you rather than reward you." Smiley Tongue

Message 70 of 275
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.