Rejection Help

Discussion in 'General Discussion | Credit Cards' started by sharris503, Nov 13, 2013.  |  Print Topic

  1. sharris503

    sharris503 Silver Member

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    I recently applied for the AA Biz card. Citi rejected me. I called the reconsideration line and was told it was something in my credit report (they wouldn't say what). The lady did say I would have been approved but for that. She wouldn't elaborate and said I needed to wait for the letter explaining the rejection.

    I received an email this morning with the explanation which was "derogatory payment history" reported by Experian naturally this created a WTF moment since I do not have have any history of late payments. To double check I pulled all 3 of my credit reports and there is no negative items on any of the reports, no delinquent accounts, late payments, etc...

    I'm really wondering what the heck citi is talking about. Has anyone had a similar experience? I would call citi back but their reconsideration line is worthless. I will probably write a letter which means they will pull my credit again and I hate having two pulls for one card but I want those 50k AA miles. Thoughts? suggestions?
     
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  2. edekba

    edekba Gold Member

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    Write a letter; include copies of all 3 reports, ask them what they meant. If the date of the pull you send is close enough to the guys reviewing ... they might not pull it again.
     
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  3. MX

    MX Gold Member

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    I just had an identical experience with Citi Business involving some fantom "derogatory history". I obtained and emailed them copies of my credit files, which did not have a single derogatory entry. On my 2nd followup call with Citi, a reasonably informed and friendly agent explained to me that their business records come from separate agencies, such as Dun & Bradstreet and Equifax Commercial (not the consumer bureau). I then found out that one of the commercial bureaus has a file under my business name, but would not tell anything over the phone. They promised so mail me a copy though. At this point I don't have any further details. I do find it curious though that Citi Business is the only lender with this "derogatory history" experience for me.
     
    Last edited: Nov 14, 2013
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  4. Kalboz
    Original Member

    Kalboz Gold Member

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    Nothing derogatory on the credit report, but they might know something (in Citi's file on you) that dates a while back like charge off/BK that goes back more than 10 years. Have a copy all your 3 credit reports when calling.
     
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  5. sharris503

    sharris503 Silver Member

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    I thought I would give an update. Long story short is that Citi has me confused with a person of the same name in the same state. Experian advised that if I tell Citi to take a closer look they will see it is not me. In the mean time experian is sending me a letter. I guess when lenders do commercial inquiries their search queries are broader. This was my first business card I hope it is not a recurring issue in the future. I will call citi tonight and hopefully clear this up.
     
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  6. jbcarioca
    Original Member

    jbcarioca Gold Member

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    FWIW, business cards operate under different rules than do consumer cards, once reason why issuers like them. Business cards do NOT HAVE CONSUMER PROTECTIONS. Consumer credit bureau reports are usually part of the story but never all the story. Such issues as D&B and other business rating agencies include comments about physical facilities, for example, and include legal histories that differ from consumer ones. Mistakes are even more prevalent with business cards than with consumer ones, but you have limited recourse for corrections. Experian volunteering a letter could help.

    I no longer use business cards personally because of those issues, but I do not suggest anybody else follow my example. I just last week won a court case against a service provider to my business which made charges in error, imposed penalties falsely, reported credit default falsely and a couple other issues. I won and won punitive damages too. That fact would not make it easier for me to get a business card, though, because it "proves that I am litigious" so some issuers would not want to give me a business card were I to apply. Some others would not penalize for winning a suit. YMMV.

    YMMV applies to all credit, of course, but far more to business credit than to personal credit. The primary reason is that business card it is rarely automated to the extent that personal credit is, so subjective reasoning is crucially important in business cards if there is even the slightest question. That is because there are zero consumer protections so they've no 'stick' incentivizing them to be careful with negative decisions.
     
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  7. sharris503

    sharris503 Silver Member

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    Success! Unfortunately, the supervisor had to make another credit pull but I'm glad it worked out. And with that last churn, I am out for about a year. Time to buy a new house. It figures the increased CSP and Freedom offers would come out a couple of weeks after my last churn!
     
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