"Denied - Citi 60 Day Rule"
The Home Depot® Credit Card Review
Written by: wildrage2 on 2008-04-14
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wildrage2's review: 
I was denied for this card because I applied and was approved for both the Macy's and Bloomingdale's cards last month.
Just wanted to give everyone a 'heads-up' that CitI will not approved more than 2 cards in 60 days. I was able to find this rule after researching it a little more on the site, but just wanted to warn people.
It's funny, instead of just stating their 60 day policy, my rejection letter listed a host of other reasons... Inquiries, late payments from 5 years ago, etc.
Sometimes it makes me wonder... How many times are all those reasons just an exuse for something else? For example, if a card usually requires a 650 FICO and you have a 640, they list all your past baddies... But if you have a 660, will they just approve you? I guess it depends on the card, but in general, I think in a lot of cases they just list some of the bad things as an exuse for their decision, even if it isn't based on that.
I was denied for this card because I applied and was approved for both the Macy's and Bloomingdale's cards last month.Just wanted to give everyone a 'heads-up' that CitI will not approved more than 2 cards in 60 days. I was able to find this rule after researching it a little more on the site, but just wanted to warn people.
It's funny, instead of just stating their 60 day policy, my rejection letter listed a host of other reasons... Inquiries, late payments from 5 years ago, etc.
Sometimes it makes me wonder... How many times are all those reasons just an exuse for something else? For example, if a card usually requires a 650 FICO and you have a 640, they list all your past baddies... But if you have a 660, will they just approve you? I guess it depends on the card, but in general, I think in a lot of cases they just list some of the bad things as an exuse for their decision, even if it isn't based on that.
11 Comments
Comment 1 by sethatco
I Wonder 
on 2008-04-14
I wonder if that is an actual policy or case by case basis. Example, I applied and was approved for a bloomies & home dep card as well as a Citi MasterCard & Amex card along with getting a 1000 CL on my macys card which was already open 2 years. Lastly I moved my home equity to Citi. My FICO scores have not changed. The only thing that did change was I paid off about 8 grand off my other cards and have very low balances at this point.
on 2008-04-14 I wonder if that is an actual policy or case by case basis. Example, I applied and was approved for a bloomies & home dep card as well as a Citi MasterCard & Amex card along with getting a 1000 CL on my macys card which was already open 2 years. Lastly I moved my home equity to Citi. My FICO scores have not changed. The only thing that did change was I paid off about 8 grand off my other cards and have very low balances at this point.
Comment 2 by meya
So Sorry! on 2008-04-14
But that is Citibank for you, master of denials. I wonder how many readers in here have been rejected form citbank and just don't want to put it in here? It might overload the site... Lol.
on 2008-04-14 But that is Citibank for you, master of denials. I wonder how many readers in here have been rejected form citbank and just don't want to put it in here? It might overload the site... Lol.
Comment 3 by wildrage2
True... on 2008-04-14
I was denied for a Citibank SECURED card about 8 months ago with a FICO of approx 600 because of a 6 year old released judgment...
on 2008-04-14 I was denied for a Citibank SECURED card about 8 months ago with a FICO of approx 600 because of a 6 year old released judgment...
Comment 4 by lyyssa01
Yes, That's True... on 2008-04-14
Citi is kind of funny. I received one of their fliers in the mail. I applied and was approved. A week later I received another flier. Once again, applied and approved. Than the offers from Citi stopped. Same thing happened with hubby. I read it on another forum from several sources that CitI will only allow 2 applications every 60 days. Most cc only allow 1 application every 30 days.
on 2008-04-14 Citi is kind of funny. I received one of their fliers in the mail. I applied and was approved. A week later I received another flier. Once again, applied and approved. Than the offers from Citi stopped. Same thing happened with hubby. I read it on another forum from several sources that CitI will only allow 2 applications every 60 days. Most cc only allow 1 application every 30 days.
Comment 5 by wildrage2
HSBC on 2008-04-14
I did the preap soft hit HSBC thing and qualified for a non-orchard HSBC card. I went through with the application and got denied because I opened up an Orchard card a couple of months ago. Does anyone know how long you have to wait in between HSBC apps?
on 2008-04-14 I did the preap soft hit HSBC thing and qualified for a non-orchard HSBC card. I went through with the application and got denied because I opened up an Orchard card a couple of months ago. Does anyone know how long you have to wait in between HSBC apps?
Comment 6 by meya
Gaps on 2008-04-14
Never heard of that before! I only heard the "You have the max number of cards with HDBC"
on 2008-04-14 Never heard of that before! I only heard the "You have the max number of cards with HDBC"
Comment 7 by arod
Applying on 2008-04-14
When you apply to much yes you will be denied.
That alone will mess your credit files not to mention too many Inquiries
I would slow down if I were you creditors see a person applying to much as a credit problem or desperate for more credit and it will lower your FICO score.
Good luck,
Alex
on 2008-04-14 When you apply to much yes you will be denied. That alone will mess your credit files not to mention too many Inquiries
I would slow down if I were you creditors see a person applying to much as a credit problem or desperate for more credit and it will lower your FICO score.
Good luck,
Alex
Comment 8 by marym
BK ?? on 2008-04-14
I wanted to apply for this card but wasn't sure if they will accept someone with a BK from 4 years ago. Does anyone know?
on 2008-04-14 I wanted to apply for this card but wasn't sure if they will accept someone with a BK from 4 years ago. Does anyone know?
Comment 9 by wildrage2
HSBC on 2008-04-14
It had nothing to do with inquiries. I was preapproved, but it said that my application was denied because I "Recenly opened a new HSBC account"
on 2008-04-14 It had nothing to do with inquiries. I was preapproved, but it said that my application was denied because I "Recenly opened a new HSBC account"
Comment 11 by yoyo11
Citibank Secured on 2008-04-14
They do have a new secured card that's saved in a 18month cd and you get great interest.
wondering about applying for this one, it doe's take 30 days for processing.
on 2008-04-14 They do have a new secured card that's saved in a 18month cd and you get great interest.wondering about applying for this one, it doe's take 30 days for processing.
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Disclaimer: This content is not provided by Citibank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citibank. Review content is powered by Finance Globe.
