I AM SHOCKED

[Anonymous]

My TU FICO SCORE is 613. I just got a letter in the mail that I have declined for citi secured credit card and they did check My TU CR. How can they decline someone for a secured card with fico score of 613?

Thanks

[Anonymous]

Are you on ChexSystems (ie., owe a bank money for an account, typically a checking account, that was overdrawn and not paid back?)  I work for a major bank that offers secured credit cards, but the applicant must not be on ChexSystems, must make over 12k a YEAR, and be over the age of 18. 

[Anonymous]

Thanks for your reply. I have checking and 2 savings account with CITI BANK. I have checking and savings account and SECURED CREDIT CARD with BOA. I have checking and savings account with Cross valley FCU.

[Anonymous]

Any open collections? Past BK? Tax lien or judgement? More than many inq's? Any of these could have been a denial reason. But Citi should have given you a specific reason for denial. If not you should get one in the mail soon.

[Anonymous]

Thanks for your reply. You are right. They gave me a specific reason. You have paid or unpaid collections on your CR, but I got approved for boa secured card and I have like 5  other sub prime cards.

Thanks

Message Edited by ashabbir1 on 09-15-2007 07:56 AM

Message Edited by ashabbir1 on 09-15-2007 07:56 AM

[Anonymous]

Each bank may have different qualifications. 

I work for WaMu and our Qualifications are as followed:

Prospective cardholder must:

• Be at least 18 years old.
  
• Have a US address and a Social Security number.
  
• Not be a WaMu employee.
  
• Have an annual household income of at least $12,000. Students with valid student ID are exempt.
  
• Must pass ChexSystems. Overrides are not permitted.

Now, our Wamu Card Services may have additional credit criteria that they don't share with us at the branch, and ultimately they make the final decision.

[Anonymous]

Do you guys still offer secured card?

[Anonymous]

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ashabbir1 wrote:

Thanks for your reply. You are right. They gave me a specific reason. You have paid or unpaid collections on your CR, but I got approved for boa secured card and I have like 5  other sub prime cards.

Thanks

Message Edited by ashabbir1 on 09-15-2007 07:56 AM

Message Edited by ashabbir1 on 09-15-2007 07:56 AM

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Citi does not like any collections no matter how old and it does not matter whether they are paid or not. They will overlook a BK that is 7 yrs old, but not a collection. You will have to get them removed or wait until they fall off before applying again. This is straight from Citi. And trust me, I have felt the sting of a turndown from them for the same reason. I can't even get approved for a gas card from Conoco, Exxon, or Shell because they are all issued by Citi. Fortunately, mine start falling off in December. Good luck!

[Anonymous]

Thank you so much for the clarification Sleigh. I wish I had posted here first before applying for their secured credit card. I would have saved the inquiry.

Thanks again

[Anonymous]

m77573,

I have been a WAMU customer since wayyyyy back when they were Great Western Bank.  They have great customer service (when dealing with US customer reps ).  Once, after I'd purchased my first property, a condo, someone and I don't know how, got hold of my PIN and took out 3k from my checking account!  They went to different 711 stores and took out $300 at a pop.  I had NO idea until WAMU called and asked why I was withdrawing so much money at 711s. Imaginem y shock

Well, it was criminal activity but WAMU reimbursed all my money plus the $2.00 fees for non-WAMU ATMs.  Well, I went off on a tangent a bit, but what I wanted to ask is WHY you can't have a card from WAMU if you're an employee?  That seems odd they would exclude one of their own.  I mean, if you can't a get a card form a bank you work for, where can you get one?  That really sucks!