Applied for Citi Platinum Select MasterCard - Suggestions Needed

For just about anything you want to get off your chest about credit cards.
20 posts
User avatar
jumbo
Centurion Member
Centurion Member
 
Posts: 363
Joined: Wed Sep 14, 2011 3:17 am
Location: IA

Applied for Citi Platinum Select MasterCard - Suggestions Needed

Postby jumbo » Sat Sep 17, 2011 3:36 am

Hello all+++
I need a few suggestions. I just now applied Online for a Citi Platinum Select MasterCard and got this message, the application process needs more time and they will contact me within 30 days. What should I do now, wait for them to call me, or give them a call about the status of my application.
[color="navy"]Here is my credit background[/color]:
I am a college student. I have 3 CC, a Discover, a MC from capital one and a VISA from BoA. My total credit limit adding all 3 cards is just $2700, right now I have 31% balance utilization of the total limit. My experian score is 717, equifax is 708, and transunion is 717. My oldest CC is BoA which is 1 year 7 months old. The discover an MC are 1 year old now. The average age of my CC is 1.4 years. I pay all my balance every month. My income is fairly low, just work part-time and earn around 20K per year, but I have some scholarship for the college so the money is enough to pay tuition and bills.
Any suggestions will be a great help.
Thanks...
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card


ooxs
Centurion Member
Centurion Member
 
Posts: 304
Joined: Sat Aug 13, 2011 9:38 am
Location: Michigan

Postby ooxs » Sat Sep 17, 2011 2:51 pm

Wait and do nothing. There is a 97% possibility that you are going to get denied and a 3% chance for a low credit line approval. To maintain your 3% chance, i recommend you wait for them to come up with questions/concerns. Take a look at the clear card from American Express, depending on the minimum income requirement An Honest American Express Clear Card Review: Pros & Cons It comes with no annual fee and much more.

Good Luck.

User avatar
jumbo
Centurion Member
Centurion Member
 
Posts: 363
Joined: Wed Sep 14, 2011 3:17 am
Location: IA

Update: got an email from citi cards

Postby jumbo » Wed Sep 21, 2011 12:11 pm

Update: Finally got an email from Citi Card, this is what the email says:
Code: Select all
Why we're writing you
 Thank you for applying for the Citi(R) Platinum Select(R)
 MasterCard(R) account.  We are unable to verify some of the
 required credit information.  To continue processing your
 application, please provide the following documentation:

 o   Telephone bill copy must be a residential phone bill,
 dated within the past 60 days, stating your name, mailing
 address and phone number* (Cellular phone bills are
 not acceptable) OR utility bill copy, must be dated within
 the past 60 days, stating your name and mailing
 address.  Can be a water, cable, electric, sewer or gas bill.


Yes, of course I'm gonna send them my bill, but my question is does the 97% chance of me getting denied has increased or decreased or the above email has no effect on the chances of me getting approved.
Thanks a lot.
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card

User avatar
bisbicos
Centurion Member
Centurion Member
 
Posts: 284
Joined: Sun Jul 17, 2011 12:38 am
Location: Newton, MA

Postby bisbicos » Wed Sep 21, 2011 3:46 pm

Why is there such a high denial rate for this card. It doesn't seem like that great of a cc
Credit Cards
American Express: Fidelity Rewards (2% cash back) 9.5k
Zync NPSL
Discover: Discover More (5% rotating categories) 12k
Mastercard: Chase Freedom (5% rotating categories) 4.6k
Visa: Citi Forward (5x pts on restaurants) 15.7k
Citi Dividend (5% rotating categories) 5.6
Capital One Journey (1.25% cash back) 1.25k
BofA AAA (5% on gas) 2.5k
PenFed Platinum Rewards (5% on gas 3% groceries) 7.5k

Future Cards
US Bank Cash +
Chase Ink

Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Wed Sep 21, 2011 9:59 pm

it's a left over from years ago as there original credit card. Your correct it's not a capital1 gold card, chase sapphire, Nordstroms visa
or american express premium credit card, But it's not a key bank, Td bank or hudson savings credit card.
the Citi seems like a nice card.
I hope you do get this card.

zapper_89
Platinum Member
Platinum Member
 
Posts: 62
Joined: Thu Aug 25, 2011 8:51 pm
Location: South Bend, IN

Postby zapper_89 » Wed Sep 21, 2011 10:43 pm

I'd imagine you have a very good chance to be accepted. If this was 2008, you would be dead in the water. More than likely you will be approved with a $500-$2000 CL. I received a similar message and was approved for $5,900.

Here is a database of approvals for the card. There are several low FICO 600s who were approved!

Credit Pulls Database

User avatar
jumbo
Centurion Member
Centurion Member
 
Posts: 363
Joined: Wed Sep 14, 2011 3:17 am
Location: IA

Postby jumbo » Thu Sep 22, 2011 1:48 am

ha..! I see zapper_89's $5900 on the credit pulls database... I'm gonna post it too, once I get the decision.
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card

zapper_89
Platinum Member
Platinum Member
 
Posts: 62
Joined: Thu Aug 25, 2011 8:51 pm
Location: South Bend, IN

Postby zapper_89 » Fri Sep 23, 2011 5:13 am

I actually emailed the admin directly after posting last time, I thought it should be added.

I hope you hear back soon!

ooxs
Centurion Member
Centurion Member
 
Posts: 304
Joined: Sat Aug 13, 2011 9:38 am
Location: Michigan

Postby ooxs » Fri Sep 23, 2011 8:42 pm

Jumbo send them the bill and keep your fingers crossed. They need your business now more than ever and best of luck buddy :)

User avatar
jumbo
Centurion Member
Centurion Member
 
Posts: 363
Joined: Wed Sep 14, 2011 3:17 am
Location: IA

Postby jumbo » Fri Sep 23, 2011 10:48 pm

@zapper_89: I have a question for you.
When they asked for your bills for verification, did they call on your phone as well, or just sending the bills worked..?
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: CarefulBuilder14 and 2 guests