APPROVED ONLINE --First time in 2 yrs
 

For the first time in 2 yrs, I have been approved online instantly for the CITI PLAT AMEX. Amazing and unbelievable !!

Does this mean that the "credit crunch" is over or just getting a bit looser?

Without any information about your credit history, it's tough to say. My uninformed guess would be that it doesn't mean either of those things, it just means that you got approved online instantly for the first time in 2 years. Congrats!

ivk5

I would guess not since I don't recall the "credit crunch" being there two years ago. It's more likely due to the changes in your personal finance or in Citi's online application approval algorithm. Congratulations anyhow.

I recently saw another post like this... I think what it means is citi is starting to approve more applications online so they can lay-off a few thousand of those people that call you up just to say "you've been approved".

:)

oh....or maybe they need more money so they approve more people who will pay more interest and CITI makes more molney.

They realized by tightening their credit card divison belt does not help them much in earning money. Tightening home mortgage belts makes sense though.

It is more likely that :

1. you have not moved in 2 years therefore your informations you provided matches with the one pulled by Citi.
2. you already have some other version of Citi cards, so you are sort of "pre-approved"

I doubt that...I have been in my new house exactly ONE year now and I had had CITI crds since 1997.

I have a feeling why this happened because I have stopped doing anything with my credit score when it dropped like a ball in SEPT 2008o approx 600. It is back to 800+ so maybe that is why the instant aprovals.

I am just happy that I do not need to go thru the "more info needed" letter route.

I used to always get calls asking if I wanted to move credit. The past 2 cards (apps in late Nov/early Dec) I got $3k or so without asking (and without them moving anything). The first one I got an email confirmation of approval, the second no email. In both cases, the cards took several days longer to get to me (on the Left Coast) than before.

Both of these changes (no calls, and longer mailing times) smell of staff cutbacks to me...

congrats anaggie, most likely means your credit has improved to the level that you can get instant approvals now :)