Denied for Citi ThankYou Preferred

**bisbicos** · Aug 26, 11, 8:49 pm

So I was denied the Citi Prefered Card. the reasons posted were
" Your credit report shows your accounts have a low credit
limit."

and

"Your credit report shows too many accounts with balances."

What does this mean? does Citi bank only offer a minimum credit line that is too high for me?

also is there any way to contact Citi bank and have them reconsider me? I have been a loyal customer for over a year now, always pay on time, and carry a balance. They also approved me for a credit line increase in June

**zapper_89** · Aug 26, 11, 9:07 pm

Citi: 888-201-4523 (New App Approval Status)
Citi AA: 888-662-7759
Citi App Status: 800-645-7240, 800-288-4653, 800-750-7453
Citi: 800-444-2568 (Retention Dept.)
Citi: 800-763-9795 (Credit Dept.)
Citi Credit Bureau Dispute Fax: 866-713-5028

Call and try to persuade them to give you a small limit. It can't hurt to try!

**ooxs** · Aug 26, 11, 11:19 pm

Approval and Credit Limit for this card is determined by your yearly income or assets. They’re picky with specific cards however I will recommend you write them instead of calling, this way you can express your interest and your loyalty.

**JNK** · Aug 27, 11, 6:58 am

It's also determined in general by your credit score and report and this is what the rep said generally translates into:

- too many accounts with balances = your debt to credit ratio is negatively impacting your credit score

- accounts with small credit limits = potential indication of your income level and/or that you are still kind of "new" in establishing your credit history and/or have not established any big ticket credit in the installments department

Also, Citibank is famous for not wanting their current customers to have too many credit cards/carry too much debt. Despite the fact that my debt to credit ratio wasn't even 10% for my Citicard and despite the fact that I have excellent credit and have maintained excellent credit for the last 7 years, I still got the preapproved account paydown offer for the chance to pay down my card with Citibank matching my payments up to 30% or whatever it was in exchange for the card's limit being cut.

When I called them after seeing the email and website notification, they apologized to me for sending me out the mailer and when I asked them who the mailer had been geared towards and why I had received one out of the blue, they told me that they had a lot of customers who had multiple lines of credit open with them with high debt to credit ratios and so were giving incentives to help them pay the debts off. I asked if Citibank would think it bad if I wanted to apply for one of their other cards and they said 2 shouldn't matter, but more than two can become kind of iffy.

I have a business card with Chase and Chase told me the same thing, but in a much less polite manner.

**ooxs** · Aug 27, 11, 8:40 am

I completely agree with you JNK that is a few of the reasons I dislike Citi and shy away. I have the Forward card that mailed me without applying, a few weeks ago a representative called me wondering why i was not using my card; i explained them her that the credit limits on the card was an inconvenience for me. She was extremely polite, sound cute and i enjoyed her funny conversation skills, she asked me what card i was using and i told her that i have and regularly use Discover Card & Flex from US bank. They were offering 0% balance transfer and after almost doubling my credit limit i took advantage of it. I will not go out of my way for a citi card

**bisbicos** · Aug 27, 11, 12:54 pm

Thanks for the advice guys. I'm going to try and call Citi on monday

**ooxs** · Aug 27, 11, 1:59 pm

Good Luck Bis, i am sure it is going to work out. Remember you are only taking YES for an answer

Thread: Denied for Citi ThankYou Preferred

LinkBack

Thread Tools

Display

Denied for Citi ThankYou Preferred