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Paying before statement closes
Something interesting happened to me applying for Citi Prestige. I have excellent credit, and virtually no debt, but I was denied. I called Citi to see what was up, and they agent told me that the problem was not my credit. The problem was that he was seeing a very high minimum payment on my Amex. This is a charge card that requires payment in full (with some exceptions) at the end of each billing cycle. I put many many charges on this card and pay it off each month.
Anyway, because Citi saw that I had a minimum credit card payment of several thousand dollars, they determined that my “ability to pay” did not meet their requirement.
So – I waited two billing cycles, and in the meantime, I paid the Amex down to zero BEFORE the billing cycle closed. Then I applied for the Citi card again and was approved.
[USER=767]@Terry[/USER] thanks for sharing!