WTF - Denied a credit card for paying balance ahead of schedule...

[Cattlegod]

Dear Cattlegod:

Thank you for applying for a Citi Dividend Platinum Select MasterCard account. We regret we are unable to approve an account for you at this time because of the following:

- Your credit bureau report shows you have no revolving accounts with a balance.


WTF????

on the upside, I got approved for the Chase Rewards Plus Visa

edit - www.bettercreditcard.com for reference to the cards.

edit2 - and WTF is a "revolving account"????

 

[venk]

they cant make money off you if your responsble

 

[Heisenberg]

Lol. They denied because you're too responsible and they can't stick you with late fees.

 

[JS80]

they know you're just going to milk their rewards program and you won't be a profitable customer...

 

[jagec]

Yeah, you pretty much have to be irresponsible for a little while to build decent credit

Originally posted by: JS80
they know you're just going to milk their rewards program and you won't be a profitable customer...

I applied and was accepted for the Citi the other day, and that's exactly what I plan on doing

 

[DCFife]

Originally posted by: JS80
they know you're just going to milk their rewards program and you won't be a profitable customer...

That's exactly what I do - use it for groceries and gas, pay it in full every month.

 

[HN]

pay your accounts in whole dollars and leave the cents there. it looks like you carry a balance

 

[Special K]

Originally posted by: HN
pay your accounts in whole dollars and leave the cents there. it looks like you carry a balance

I know this has been debated on AT before, but I could've sworn reading that keeping a balance on a CC is always a bad idea.

 

[Buck Armstrong]

Originally posted by: Cattlegod
Dear Cattlegod:

Thank you for applying for a Citi Dividend Platinum Select MasterCard account. We regret we are unable to approve an account for you at this time because of the following:

- Your credit bureau report shows you have no revolving accounts with a balance.

WTF????

on the upside, I got approved for the Chase Rewards Plus Visa

edit - www.bettercreditcard.com for reference to the cards.

Drug dealers make their money on the comeback. If you pay off your balance, then your butthole is unavailable for the monthly interest raping that Citibank prefers.

 

[BatmanNate]

I have the citi dividend select platinum and I carried no balances when I was approved for it. Great card, I've never paid them a red cent, but I max the $300 in cash back each year. I just wish you could pay the balance more than 5 times per month like you can on most other cards.

 

[kt]

I've always paid my CC bill on time, but never got turned down before.

 

[HN]

Originally posted by: Special K

Originally posted by: HN
pay your accounts in whole dollars and leave the cents there. it looks like you carry a balance

I know this has been debated on AT before, but I could've sworn reading that keeping a balance on a CC is always a bad idea.

i was under the impression that leaving a balance was good; And being past due (on your minimum payment) was bad. I'm not an expert by any means in this field and wouldn't mind seeing the pros/cons of this from the more knowledgable.

 

[AStar617]

Originally posted by: DCFife

Originally posted by: JS80
they know you're just going to milk their rewards program and you won't be a profitable customer...

That's exactly what I do - use it for groceries and gas, pay it in full every month.

Why not get a charge card (AMEX) instead?

 

[her209]

The next time you receive a credit card application, write a little rejection letter to them with reasons why they are being rejected.

 

[kranky]

Originally posted by: HN

Originally posted by: Special K

Originally posted by: HN
pay your accounts in whole dollars and leave the cents there. it looks like you carry a balance

I know this has been debated on AT before, but I could've sworn reading that keeping a balance on a CC is always a bad idea.

i was under the impression that leaving a balance was good; And being past due (on your minimum payment) was bad. I'm not an expert by any means in this field and wouldn't mind seeing the pros/cons of this from the more knowledgable.

No, there is no good reason to leave a balance on a CC. It doesn't do a thing for your credit.

 

[Golgatha]

Originally posted by: Special K

Originally posted by: HN
pay your accounts in whole dollars and leave the cents there. it looks like you carry a balance

I know this has been debated on AT before, but I could've sworn reading that keeping a balance on a CC is always a bad idea.

No, it's fine to keep a balance. Just make sure when the monthly bill comes around to pay at least the full balance on your statement, which should be less than the current balance if you use the card much. Just don't get stuck with fees for paying late or not making a payment.

 

[kranky]

Originally posted by: Cattlegod
Dear Cattlegod:

Thank you for applying for a Citi Dividend Platinum Select MasterCard account. We regret we are unable to approve an account for you at this time because of the following:

- Your credit bureau report shows you have no revolving accounts with a balance.


WTF????

on the upside, I got approved for the Chase Rewards Plus Visa

edit - www.bettercreditcard.com for reference to the cards.

edit2 - and WTF is a "revolving account"????

A revolving account is, for example, a credit card. You have an available amount of credit, which you use and pay back so the available credit fluctuates with your usage. The other type is an installment account which is like a car loan - fixed payment every month, balance always decreasing.

 

[simms]

Originally posted by: Golgatha

Originally posted by: Special K

Originally posted by: HN
pay your accounts in whole dollars and leave the cents there. it looks like you carry a balance

I know this has been debated on AT before, but I could've sworn reading that keeping a balance on a CC is always a bad idea.

No, it's fine to keep a balance. Just make sure when the monthly bill comes around to pay at least the full balance on your statement, which should be less than the current balance if you use the card much. Just don't get stuck with fees for paying late or not making a payment.

It's fine, but doesn't help your credit.

 

[Vic]

Originally posted by: kranky
A revolving account is, for example, a credit card. You have an available amount of credit, which you use and pay back so the available credit fluctuates with your usage. The other type is an installment account which is like a car loan - fixed payment every month, balance always decreasing.

Exactly :thumbsup:

It is not necessary to maintain a balance and pay interest on your revolving accounts for good credit. If you use a card each month and pay it off each month, it will look on your credit report like you keep a small balance on the card.
I'm surprised Citi did this. It sounds like they're trying to use an expansion on "insufficient credit history or tradelines" in order to cherry-pick for high-debt customers (and balance transfers). That's a bit shady.

 

[Vic]

Originally posted by: her209
The next time you receive a credit card application, write a little rejection letter to them with reasons why they are being rejected.

Why waste the time?

 

[DaWhim]

you have no credit history?

 

[her209]

Originally posted by: Vic

Originally posted by: her209
The next time you receive a credit card application, write a little rejection letter to them with reasons why they are being rejected.

Why waste the time?

Print it on stickers and make em pay for the shipping.

 

[GTaudiophile]

LOL. Citi gave me the same card...and I've never held a balance or made a late payment. I often pay ahead of time just to see that $0.00 balance again!

 

[Howard]

Originally posted by: her209

Originally posted by: Vic

Originally posted by: her209
The next time you receive a credit card application, write a little rejection letter to them with reasons why they are being rejected.

Why waste the time?

Print it on stickers and make em pay for the shipping.

Or you could just send them a big rock. A big one.

 

[Vic]

Originally posted by: her209

Originally posted by: Vic

Originally posted by: her209
The next time you receive a credit card application, write a little rejection letter to them with reasons why they are being rejected.

Why waste the time?

Print it on stickers and make em pay for the shipping.

Sounds overly spiteful. If you don't like getting CC offers in the mail, call 888-5-OPT-OUT and follow the directions.