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@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.
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.
@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.
@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.
@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 ...
@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!
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
@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.
@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?
@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."