Credit Card Center Advertiser Disclosure†
10-14-2011 05:49 PM
I would like to take a invitation for the Citi Diamond Preferred card, but would also like to cancel my gold Amex, a Capitol one and an HSBC card. I also have a Nordstom Visa and Wells Fargo Visa, both of which have high CL's. Basically I'd like to have just 3 credit cards with high CL's. Should I cancel the Amex, Cap one and HSBC before I take the Citi Diamond invite?
10-15-2011 12:29 AM
I appreciate all of the feedback. I've decided that I'm going to go for it. As stated previously, my DD's upcoming college expenses tipped the scales for me. In-state tuition in Florida is very affordable, especially at the two year colleges. So, my options for her upcoming semester are:
Pull a lump sum out of savings account. I can do this, but then I would have to decide how I wish to tender payment. My Cap1 rewards card doesn't have a large enough CL to accommodate. I COULD put it on my Amex Green, but I don't want to do anything "out of pattern" and risk triggering a FR; not worth it to me. I'd have to put it on a non-rewards card and then PIF, or write a check. Either way, I'd get nothing back. Meh...
Spread it out over time by using the Tuition Installment Plan. I can then spread payments out over three months, but there's a $35 processing fee. Yuck...
Accept the invitation for the Citi Diamond card and hope to be approved with a CL of at least $1500 -- preferably higher. Then, I can keep the money in my savings, spread the tuition out over three months and pay for it out of already budgeted monthly income, and get a $100 statement credit. Use someone else's money interest free and get money back? It's really hard to say no!
So... I'm planning on apping a week from tomorrow. That way, the one year mark for the "new credit ding" for my Cap1 MC will no longer be factored into my FICO scores. Also, a balance that I allowed to post to my Visa last month will be updated and back to $0. I wound up with the AF on my Orchard hitting before canceling the card, and a $14 charge sneaked in on my Cap1 MC the day the statement cut. So, on the day I plan to app, my util will look like this:
Cap1 Visa - 0 / 6400
Cap1 MC - 14 / 750
Orchard MC - 74 / 400 (card has been closed and is now at $0, but won't update until later in the month)
Dillard's Amex - 0 / 1700
JC Penney - 0 / 1500
Kay Jeweler - 0 / 5100
Amex Green - 604 (paid right after the statement cut)
(ETA): SST Visa - 0 / 3200 -- had this card since 2000. Formerly a Providian card. Card issuer declined to renew the card at one point, but it has been faithfully paid in full down to $0 and STILL reports as an open, active account. It helps my util and my AAoA, so I hope it sits on my report as open and active for a good, long time.
Overall util on revolving accounts: 1%
So, I think that I look good on util. Thoughts???
To me, it looks like you're in a good shape. They had me call in and the CSR talked to me for a while (computers were being flaky). He asked me questions and if I remember correctly, asked if I was doing a banace transfer. I think you'll definitely get at least $1500. I'm looking forward to seeing your results. They gave me the $100 faster than I would have thought and the CSRs seem genuinely nice and helpful. I really don't see how you can go wrong.
10-31-2011 10:46 PM
11-01-2011 06:55 AM
I've received 2 invites to apply, and am giving it some consideration. Tinuviel, did you ever go for it?
Hi, Cain; thanks for asking!
I replied on a different thread that, unfortunately, I was denied due to "current or past delinquency with one or more of your creditors" -- ie: charge offs. Amex approved me with COs still showing, so I hoped that perhaps Citi would, as well -- especially since they invited me to apply. No go. All of the COs will drop off by this time next year, so I'm just going to sit back and wait. I figure that if I stay on my current course of responsible credit behavior, then in another year I'll be in good shape to app for desireable cards.
11-29-2011 04:11 PM - edited 11-29-2011 04:17 PM
I received an invitation in the mail today and decided to apply after reading the success stories on this forum and I was approved for 3200!
They pulled from Experian and on the approval page they put my credit score which was 709. ( I just checked all 3 scores on 10/31 and Expeiran score was 647) so I'm really shocked!
12-08-2011 11:07 PM
12-09-2011 04:32 AM
I just received another invite to apply for this card. It's my 3rd invite so far, I'm kind of tempted to apply. Anyone else having luck with these invites?
I did . Read my post above.
12-09-2011 11:24 AM
I applied today after really giving this invite some serious thought because of inquiries and recent approvals with Amex. I was approved for 8K @ 12.99%/ 0% for 18 months on purchases and BT.
They pulled EX. I'm in Florida. Good Luck!
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.