One thing I have noticed with Citi over the years is if they do not give you an instant approval the page then either goes to a page where they offer you options like paperless statements, choose your payment date etc, or they just say we’ll get back to you. They offered Katy the options and not me, which leads me to believe that we can easily get her approval. For my denial, I’m going to have to write a reconsideration letter. Here is the address where I will be sending it for your future reference:
June 23, 2011
Executive Response Unit
PO Box 6000
Sioux Falls, SD
RE: 20110621xxxxxxx Reconsideration Request
To Whom it May Concern:
I was surprised with your response of denial for the Citi Premier Thank You card with the 50,000 point bonus sign up offer. The reason for denial was “too many inquires.”
I did apply for several cards on the date of my Citi application and was approved by both Chase Bank and American Express for credit cards that now fit my new spending pattern, in addition to your Thank You point card. My reasons for requesting reconsideration are as follows.
1. 1. I have been a Citicard customer for over 10 years and HAVE NEVER BEEN LATE ON A PAYMENT.
2. 2. My current credit score is 759 on an FICO scale and approximately 865 on the Vantagescore scale with Experian where you checked my credit.
3. 3.We own our own home free and clear and have a net worth of over $XXX,000.
4. 4. My credit card usage to available credit is approximately 8% of my available credit and I seldom carry a balance. Your earnings are on time merchant fees with my accounts.
5. 5. My intent is to return the majority of my credit card business (in excess of $50,000 per year) to your cards and the Thank You point network. I plan on also obtaining the Forward card and Preferred card in the near future.
Please take the time to have a human being review my past credit history with Citicards. I’m sure you will find that I have been a loyal and profitable customer of Citi for many years and look forward to renewing our relationship with the Premier Thank You point card.
I sent along a copy of my 2010 Federal Tax return first page and copies of my statements from Amex showing my legal address. They don’t seem to be able to get that part right as evidenced by Katy’s request for more information.
This stuff takes time, but a $500 in value per approval I’ll make the time. And besides, I want the card for future spending and awards.