@Numerophile wrote:Adding my datapoints from recent experience.
I apped for Citi Custom Cash on 11/24/2023. They pulled Experian. At the time, FICO 8 was 763 and FICO Bankcard 8 was 802. Inquiries then were 0/3, 0/6, 0/12, 8/24. New accounts were 0/3, 0/6, 1/12, 9/24. My AoOA was 13 years 9 months and AAoA was 3 years 9 months. Overall utilization was 8%. 4 cards showed balances on the report of which 1 was an AU card. None of those individual balances was over 25% utilization. DTI less than 2%. High income.
I was denied. In the letter, Citi referenced a score of 802 (FICO Bankcard 8) and listed 3 reasons for the denial. Length of time accounts have been established on your credit report. Your credit report shows too many recently opened accounts. Your credit report shows too many inquiries.
My AoOA and AAoA seem fine to me, which leads me to the conclusion that right now given the macro environment Citi is ULTRACONSERVATIVE about new accounts and inquiries not just in the last six months or year but two years back.
To me, Citi and Wells Fargo are the only two banks like this. I have experienced nothing like I have from those two, not even from notoriously conservative US Bank.
It's hard to believe they turned you down. That is crazy. Sorry.
@SouthJamaica wrote:
@Numerophile wrote:Adding my datapoints from recent experience.
I apped for Citi Custom Cash on 11/24/2023. They pulled Experian. At the time, FICO 8 was 763 and FICO Bankcard 8 was 802. Inquiries then were 0/3, 0/6, 0/12, 8/24. New accounts were 0/3, 0/6, 1/12, 9/24. My AoOA was 13 years 9 months and AAoA was 3 years 9 months. Overall utilization was 8%. 4 cards showed balances on the report of which 1 was an AU card. None of those individual balances was over 25% utilization. DTI less than 2%. High income.
I was denied. In the letter, Citi referenced a score of 802 (FICO Bankcard 8) and listed 3 reasons for the denial. Length of time accounts have been established on your credit report. Your credit report shows too many recently opened accounts. Your credit report shows too many inquiries.
My AoOA and AAoA seem fine to me, which leads me to the conclusion that right now given the macro environment Citi is ULTRACONSERVATIVE about new accounts and inquiries not just in the last six months or year but two years back.
To me, Citi and Wells Fargo are the only two banks like this. I have experienced nothing like I have from those two, not even from notoriously conservative US Bank.
It's hard to believe they turned you down. That is crazy. Sorry.
Yes! The reasons provided seem just the opposite of the DPs here.
0/12 inquires? 0/6, 1/12 new accounts? I haven't heard of Citi looking at x/24 numbers. Those are a little high.
High scores and very good utilization? Age of accounts and income good. What possibly scared them off? Is there a path to recon?
EQ8 775, TU8 757, EX8 778 as of November 17I had read every datapoint I could find here on myFICO. When I did the app, Citi was first on my list. The denial made and still makes no sense to me at all. The only thing I can see it being is those 9 accounts I opened in months 13-24 of the 2 year lookback period. But I've never had a late payment on those 9 or any other, I've run lots of charges through all of my accounts (25+), and I always have low utilization (I don't do AZEO but I pay most accounts before the statement cuts to keep both the number of accounts showing a non-zero balance and utilization low on my credit reports). I will note that I do not have any relationship with Citi at all. I have banking and lending products from just about every other major financial institution but nothing with Citi. Could it be that they don't want to give out Custom Cash as a first product? I considered recon and then just said: "To h*** with it. I'm done with Citi. She might have seemed to be a pretty one, but now that I've seen her true colors, she just ugly." 
