- Gold Member
- Posts: 27
- Joined: Fri Sep 27, 2013 1:37 pm
- Location: Minnesota
I just had a very frustrating experience with Citi. Given all the recent US Airways/AA/Amex changes, I thought I would try to take advantage of the current 100k offer to evaluate the card against my Amex Platinum. Filled out the application and got a notice to make a followup call.
After confirming a couple questions, I was a bit taken aback that my application was declined do to excessive debt obligations. I have some student loans, a couple thousand in revolving balances with maybe 1-3% utilization, and a car loan, with almost 6-figure income, so this threw me off.
I drilling for rationale, got a copy of my credit report, called back in, and escalated to a supervisor, and got to the bottom of it: Equifax is still apparently factoring Amex charge card balance into revolving obligation, but doesn't appear to factor into available credit at all. Worse, it results in a reported monthly payment obligation of around 5x my real credit/loan payments.
The supervisor backed up the rep that there is no way to approve the application short of paying down my Amexs completely, waiting for a zero balance to post, and re-applying with a new hard pull.
Is this still the case with TU and Experian? Did I just get screwed by a bad luck of the draw--or are there any ideas for recourse here?
MB Amex Platinum | Amex Premier Gold | Amex Everyday Preferred 25k | Citi Executive 22.5k | Barclay Arrival 12.5k | USAA Amex 10.5k | WF Platinum Visa 5k | Chase Visa | GECRB Visa
TU 787 EXP 790 EQ 767