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New Member
m00nScape
Posts: 9
Registered: ‎01-02-2009
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Chase or Citi credit card? Which gives high CL?

I have applied 3 times and got approved each time form CapitalOne Platinum, Target, and Discover More with credit score of EQ 717.

 

I'm planning on getting another card, but this time with at least $4000 CL, which will have a better chance, with Chase or Citibank? And which specific card should I apply for for?

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Chase or Citi credit card? Which gives high CL?


m00nScape wrote:

I have applied 3 times and got approved each time form CapitalOne Platinum, Target, and Discover More with credit score of EQ 717.

 

I'm planning on getting another card, but this time with at least $4000 CL, which will have a better chance, with Chase or Citibank? And which specific card should I apply for for?


 

I would definitely go to Citi. You will never get a CLI from Chase without a hard inq. Chase are also real nits about things and not behaving in a very cardholder friendly fashion these days. The only reason I have a card with Chase is because they picked up WaMu. I see no change - no improvement, In fact WaMu could have been a better actor! With Citi you have a good chance at a good opening CL and a mechanism for probing for a CLI without getting harded. The cards also have some nice feature. They sent me pre-app's for a couple of cards and I decided to take a shot at the Diamond Preferred. It is a good card - very low APR (mine is 6.99%) - just crummy rewards. That is unless you fancy event tickets. Then the DP card is very hot as you get access to advance tickets for some events which can be very handy, I like the card and so far Citi has been nothing other that good to me. Can't say the same for Chase. Not even close.
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
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Re: Chase or Citi credit card? Which gives high CL?

I would take a longer term view. Citi will give you soft pull regular online CLI if you behave. Chase on the other hand will not give out CLI without pulling hard. 95% of people have this experience with Chase. I like both companies. Citi has the large exposure world wide Chase runs the US.
Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: Chase or Citi credit card? Which gives high CL?

Apply with Citi.  Why? 

 

Congratulations and welcome to Citi® Platinum Select® membership! Your account was approved on 07/08/2009 with a credit line of $4,000. You should receive your new card and Card Agreement within a week.
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Chase or Citi credit card? Which gives high CL?

Nice! Congrats!

Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: Chase or Citi credit card? Which gives high CL?

Should I be applying for cards that I don't plan to use?  I never charge more than $350 on my Cap 1 card.  That's the only card I use.  I pay it off each month.  Its an old student card. I never get a CL increase.  Should I use a different card every other month to keep it from being close and get CL increases?
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Chase or Citi credit card? Which gives high CL?


DI wrote:
Should I be applying for cards that I don't plan to use?  I never charge more than $350 on my Cap 1 card.  That's the only card I use.  I pay it off each month.  Its an old student card. I never get a CL increase.  Should I use a different card every other month to keep it from being close and get CL increases?

 

Additional cards in your portfolio will help you immensely with regard to your FICO score. A very small number of cards make it very difficult to optimize your utilization.  Many of us do have cards that we rotate into and out of service and keep active by using at least once per quarter.
Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
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Re: Chase or Citi credit card? Which gives high CL?

This week I closed a BOA, CHASE and  Best Buy cards.  I wasn't using them.  And with BOA, I was ready for an upgrade.  BOA has the worse customer service.  I replaced them with Citi and Discover to ofset the avialable credit I lost by closing them.
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Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Chase or Citi credit card? Which gives high CL?

For scoring purposes, somewhere between 3 - 5 cards is great. It's also a lot easier to manage that number of cards. But if you have multiple open installment accounts (auto loan, student loans, etc.) you might want to have more CC's.

This is because one of the ways you can gain or lose scoring points is by having a certain percentage of your open accounts with balances. Since by definition, all open installment accounts (including mortgages) have balances, if you want to avoid a scoring ding for "too many accounts with balances", you might want to open more CC accounts that you can keep reporting $0 to counteract the loan TL's. If you have 4 open loans, you might think about 6 total CC's --one that can report a balance, four to "cancel out" the balances loans, and one for wiggle room. And so forth.

But unless you think you're going to have multiple open loans forever, that's a weak reason to get additional cards that you otherwise wouldn't fool with. Wanted to let you know that there's that factor to consider, though.

Congrats on the Citi!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
MattH
Posts: 3,240
Registered: ‎04-03-2008
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Re: Chase or Citi credit card? Which gives high CL?


smallfry wrote:
I would take a longer term view. Citi will give you soft pull regular online CLI if you behave. Chase on the other hand will not give out CLI without pulling hard. 95% of people have this experience with Chase. I like both companies. Citi has the large exposure world wide Chase runs the US.

I would say it depends on many factors.  In my own case, my Chase card has a somewhat higher limit ($25K on my Chase versus $20K on my Citi, not that I ever use more than a fraction of that), and the purchase APR on my Chase is a lot lower (currently 5.25% on my Chase versus over 10% on my Citi, not that I pay interest on either card).  Both cards have been active for over a decade with excellent payment histories, and I give both cards plenty of transactions every month.  Also both companies know I don't move frequently, because they sent the monthly bills to one address from 1992 until my wife and I bought a condo in 2002, and to this address since 2002.  Both companies regularly send balance transfer offers, which my wife and I feed to the shredder since we don't carry balances (she has a Citi card in her own name and is an Authorized User on my Chase card).

 

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
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