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Declined Shell gasoline card application

Posted Fri April 25, 2008 10:47 pm, by Christopher W. written to Citibank N A

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I recently applied for a Shell gasoline credit card, issued by Citibank of South Dakota. They declined my application, with reference number #200804148005828, according to their letter primarily because of "high account balances" and "too many inquiries". However, what Citibank is unaware of is that most of the revolving balances showing on my credit reports are paid for the most part in full monthly, though for whatever reason the balance still gets reported as if I were revolving a balance. Meaning, unless I pay the day before a credit card company makes their monthly report to the credit bureau, it will look like I am carrying a balance even when the account may normally be paid in full. Secondly, I have a lot of inquiries because, in addition to my current profitable employment as a property manager, I have also returned to school and am now a 2nd year law student. I generate multiple sets of inquiries each semester just through renewing loans, etc., and I do not feel that these denial reasons accurately reflect my true credit risk (which I believe to be minimal) and credit performance (which has been excellent. This is apparent in the report I obtained from Equifax to satisfy my own curiosity, as soon as I read that Citibank had cited an Equifax bureau report in their denial letter), and I would very much like to establish a relationship with Citibank/Shell. In return, I would always pay my bills as agreed, and would consider it an honor to use their product, if they would be kind enough to reconsider my application and grant my request to open the Shell account. Shell is my primary provider of gasoline, and it would be extremely helpful to be able to keep track of my gasoline expenditures using the Shell card.

I would very much appreciate Citibank's reconsidering my application for the Shell card. In return, I would highly value my relationship with Citibank/Shell, and will always keep up my end of the bargain.


Reply



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by Towser44 Posted Tue May 6, 2008 @ 10:06 PM

This is a nicely worded letter so I felt compelled to let you know
that Citibank has a reconsideration number. Most likely your denial
was based off of a computer simulation. The number is 800-950-5114.
Ask for a recon.

At the same time I have studied the FICO scoring system and 30% of
that score is your debt load. Any time you let your balances be above
35% of your total credit line your credit scores will plummet. if your
near 75% or above you are considered maxed out and a huge credit risk
no matter the credit company. There are several ways you can fix this
problem so that you don't see it in the future.

1. Call your current companies and find out what the statement report
date is and pay the day before, making your reported balance 0% (even
though its best score wise to let one report between 3-7%).

2. Do number 1 for one month and call your current companies and ask
them for a Credit Limit increase, explaining to them that you want to
use the card and you Pay in full, but that you cannot do this if you
do not have a high enough credit limit to use it without hurting your
score. (A customer service rep cannot more than likely do this
adequately and you will have to talk to a supervisor or underwriter
depending on the company.)

I wish you the best of luck.

Reply
by Richard S. Posted Wed April 30, 2008 @ 10:07 AM

Christopher,

You should try writing to directly to Citibank - the bank that issues
the credit card. I had a similar problem about 4 years ago when I
applied for a card with MBNA. I was originally declined and really
took offense to this. I sent them a letter explaining my situation and
low and behold I was issued a credit card with a credit limit more
than I actually needed.

If you have a good credit score, you should be able to get a credit
card.


Reply
by Buzz Posted Tue April 29, 2008 @ 1:40 PM

You sound like a good customer to me.I have never considered it an
honor to spend my money with any merchant,that alone should make you a
dandy guy to them.

I've never heard of the carrying balance at the end of a billing
cycle hurting anyone but the inquiries for credit definitely do and
that's wrong.

Why should merchants checking to see if you have a good credit
history before issuing you a card be damaging? It just doesn't make
sense.

At last check my Beacon score was 768,I asked one of my cards for a
higher line and they declined so I asked Discover (whom I had never
dealt with and they gave me 8 times the first cards limit.I let the
first know and they sent a letter stating they were sorry and would
match Discover-I said "thanks but I don't need it now"

I've trid to teach my kids the importance of good credit,not only
does it make life easier it's just the right thing to do to handle
money matters responsibly but my oldest (18 in March-SERENITY NOW!)
isn't doing so great.He thinks there a magic money fairy putting funds
in behind his debit card.But...momma's name ins't on that account
anymore so he's on his own.

Teenagers,can't kill em' cause they'll stink up the neighborhood.


Reply


Great post, Buzz by RedheadwGlasses Tue April 29, 2008 @ 2:48 PM

Thanks red,I have to laugh or I'll end up in an institution! by Underdog Tue April 29, 2008 @ 3:09 PM

Thanks red,I have to laugh or I'll end up in an institution! by Underdog Tue April 29, 2008 @ 3:09 PM

Sorry,there I go multiple posting again. by Underdog Tue April 29, 2008 @ 3:10 PM

What's that about the little BUS by Marty5223 Tue April 29, 2008 @ 4:27 PM


by Bitter Erik Posted Mon April 28, 2008 @ 5:30 PM

When I saw the name of the person who wrote this letter (Christopher
W.), the first thing I thought of was, "I bet it's Christopher
Walken." And now, I can't read the letter without hearing it in
Christopher Walken's voice. Which is just amusing the heck out of me.

Sorry, that has nothing to do with anything. Please, carry on as you
were.

Reply


Maybe Chris (Dead Zone) can change HIS future with the credit card co. by Donno Mon April 28, 2008 @ 6:55 PM


HA! by RedheadwGlasses Mon April 28, 2008 @ 8:14 PM

by LadyMac Posted Mon April 28, 2008 @ 10:50 AM

Just something else for you to consider:

When you apply to sit for your state's bar exam, you also have to
submit a character and fitness application. As the bar undertakes
their investigation, one of the things they are going to do is pull a
credit report on you. Remember ethics rule 1:15? That's why.

Reply


Interesting by RedheadwGlasses Mon April 28, 2008 @ 12:28 PM


1:15 ?? by SuzieCat Mon April 28, 2008 @ 4:06 PM


Rule 1:15 by LadyMac Mon April 28, 2008 @ 4:59 PM


WOW by SuzieCat Mon April 28, 2008 @ 5:31 PM


Yep by burkhagirl Tue April 29, 2008 @ 11:02 AM

by MA Cunningham Posted Sun April 27, 2008 @ 8:06 PM

that you have an explanation for the concerns they have with your
credit report, you're focusing on the wrong group here.

You can make promises till you're blue in the face,Citi doesnt care.
All that matters to them is that score and they aren't likely to "take
your word" on an extension of credit.

What you should do, since you are aware of these circumstances (namely
the student loans) you should contact all 3 bureaus and file a
notation explaining this. That will give creditors an opportunity to
evaluate that part of your report more accurately.

But your high account balances usually indicates a higher than average
debt to income ratio. That means a larger than typical percentage of
your income already goes to debt and adding to that could put you in
financial trouble if you ever lost your income. You likely have some
hefty student loans (esp. for a J.D.) and that is going to be factored
in with your other debt.

Good luck in school!

Reply


by ~Fiâi-la-âlea~ Posted Sun April 27, 2008 @ 5:50 PM

Ack!

It's not an honor for you to have their credit card, it's their honor
to have your money.

Reply
by Marty5223 Posted Sun April 27, 2008 @ 8:42 AM

That Shell Credit Card is a mess! The left hand does not know what
the right hand is doing. Last fall they had a promotion if you
purchased 100 gallons of gas in 90 days you would get a 25 dollar gift
card. I was like OK a no brainer for me. I am going to easily hit
that requirement. I applied and got the card. I reached my 100
gallons of gas and had the receipts to proove it. I waited a few
weeks then called to inquire when I would get my 25 dollar gift card.
We can't find that promotion.

My gut told me I was going to have a problem with this so I had taken
digital pictures of the promtional offer signs on the pumps. I also
had saved the promotional inserts from the pump.

Needless to say I was issued 25 dollars by Citibank as a credit and
never got the gift card. That card is managed by Citibank but the
promotions are coming from Shell. CS said they didn't even have the
promotion in their computers when I called.

I had sent an on online inquiry and saved that about the promotion so
there was little they could say. I personally have to wonder how many
people applied and forgot about the gift card, or assumed they never
hit the required purchase.

Anyway you are probably better off without this card. After I got my
25 dollar credit I put that card away for good! I don't think Citi was
the problem it was SHELL!

Reply
by T. C. Posted Sun April 27, 2008 @ 12:41 AM

I agree with Keith and Chris on this one. You do not seem like a bad
risk to me from what I read and I would think they would give you the
card.

Reply

by fishbjc Posted Sat April 26, 2008 @ 8:57 PM

It's really nobody's business what balances OP carries. OP, pay your
$$$ before the statement date, not the due date so the amount reports
correctly.

I was declined a Shell card due to excessive inquiries on TU (at 7).
I called them and explained that 4 were due to heloc shopping and two
were for a new auto. Since these were in a very short amount of time,
they should be counted as one inquiry each. Time for a manual
review!

No problem, reconsideration given. I received my shell card within 10
days. Be aware that this caused one additional hard inquiry, which is
now gone.




Reply

by dulynoted Posted Sat April 26, 2008 @ 5:42 PM

Evidently Citibank/Shell does not share the same sentiment as you do
as it being an honor for you to be their customer.

But it was a good try. And once you get all your credit up to par then
try again...but to keep trying keeps adding more negatives to your
report.

Save your money and do what some of us regular people do and get a
bank card/checking account. Both are good ways to keep tract of money
you actually have to spend and will help keep you budgeted.

Some people are just not able to use credit cards as they should
be...purchase and pay off each month.
I am one of those people and I am proud to say that it took my years
to get my accounts built back up but it was well worth the effort.
I know what my limits are financially and stay within these.

Good luck in school.


Reply

by RowdyRetailer Posted Sat April 26, 2008 @ 9:54 AM

You need to cancel all your credit cards and live on what you earn.
If you play with the snakes, you will eventually get bit.


Good Day

Reply


The two are not mutually exclusive by Donno Sat April 26, 2008 @ 8:24 PM

Absolutely by fishbjc Sat April 26, 2008 @ 8:59 PM


Donno by ♪♪Venice♪♪ Sat April 26, 2008 @ 9:48 PM

Donno by Dru Sat April 26, 2008 @ 10:33 PM


Knock on wood... by All About the Branding Tue April 29, 2008 @ 10:27 AM

Senseless and repetitve? by Keith C. Sat April 26, 2008 @ 10:38 PM


my dad by SuzieCat Fri May 2, 2008 @ 10:48 AM


by RedheadwGlasses Posted Fri April 25, 2008 @ 11:18 PM

"most of the revolving balances showing on my credit reports are paid
for the most part in full monthly"

If you are already carrying credit/consumer debt, the last thing you
need is access to more debt. Sorry, but this is a sign that it's time
to reconfigure things. Paying interest on credit cards doesn't need
to be (and shouldn't be) a way of life.

Reply

HUH?? by Keith C. Sat April 26, 2008 @ 12:32 AM

I agree with Redhead. by kjandj Sat April 26, 2008 @ 12:50 AM


Most is a far cry from all by ♪♪Venice♪♪ Sat April 26, 2008 @ 1:35 AM


I agree with Red, kjandj , and Venice by Gino Sat April 26, 2008 @ 2:12 AM


I think we would be speculating, at best... by Chris M Sat April 26, 2008 @ 9:29 AM


I'm not assuming that "most" and "all" are far apart at all by RedheadwGlasses Sat April 26, 2008 @ 10:23 AM

If his total debt is $100.... by Keith C. Sat April 26, 2008 @ 10:33 PM

I agree... by fishbjc Sat April 26, 2008 @ 9:13 PM

"Posters are jumping all over the OP without a clear *picture* of his finances or credit limits" by Keith C. Sat April 26, 2008 @ 11:50 PM

So? by fishbjc Sat April 26, 2008 @ 9:05 PM


It's not a matter of being judgmental by ♪♪Venice♪♪ Sat April 26, 2008 @ 9:41 PM


I think there HAS to be some judgment by RedheadwGlasses Sun April 27, 2008 @ 9:58 AM

And your being judgmental on PFB by Keith C. Sun April 27, 2008 @ 12:26 PM

To " kjandj" and all by Keith C. Sat April 26, 2008 @ 12:55 PM

hmm by Angelic Princess:) Sat April 26, 2008 @ 1:18 PM


I agree with Angelic P by Donno Sat April 26, 2008 @ 8:13 PM


Keith's not exactly wrong on this one, Donno, etc... by Chris M Sat April 26, 2008 @ 9:56 PM

Exactly. by Keith C. Sat April 26, 2008 @ 10:35 PM


I carry balances. by Just Brenda Sun April 27, 2008 @ 10:52 AM

Uh.... Brenda... by Keith C. Sun April 27, 2008 @ 12:22 PM


Keith, by Just Brenda Sun April 27, 2008 @ 2:58 PM

I just went by the thread order... by Keith C. Sun April 27, 2008 @ 3:07 PM


Well by Just Brenda Sun April 27, 2008 @ 3:43 PM

Brenda, it's not a big deal by Keith C. Sun April 27, 2008 @ 5:14 PM


I didn't take it at all to mean she was disagreeing with you Keith! N/T by Chris M Mon April 28, 2008 @ 9:44 AM


Good comments, Brenda by RedheadwGlasses Sun April 27, 2008 @ 2:15 PM

Online banking by Keith C. Sat April 26, 2008 @ 10:27 PM

Re-read what I wrote. by Keith C. Sat April 26, 2008 @ 10:31 PM


Yeah Allison by Just Brenda Sun April 27, 2008 @ 11:11 AM

That explains a lot! by Keith C. Sun April 27, 2008 @ 1:34 PM


Yes by Just Brenda Sun April 27, 2008 @ 3:03 PM


What part of "paid for the most part" sounds stellar to you? by Donno Sat April 26, 2008 @ 8:09 PM

Reading between the lines by Keith C. Sat April 26, 2008 @ 10:40 PM




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