Citi Email Offer

[alexak]

Hello!

I have had the Citi Diamond Prefered MC with a CL of 800 (current balance is approx 600) for a little over a year now.  I just received an email for a 0% APR for 18 months on balance transfer offer with the Simplicity card. I have a couple of other high balances at about 90% util on that CL(now due to the holidays) with high APR, and would love to transer some of the higher balances over. Here is a summary of my current credit report.

EX FAKO: 628

EQ FICO: 648

TU FICO: 654

UTIL: 32%

AoAA: 2-ish years

Last derog: Sept 2011, 90-day late

What are the chances of my approval? I have until Jan 30th to respond.

Thanks in advance!

[Anonymous]

Not a slam dunk with that UTL on your CDP.

[FinStar]

What's the current APR on your CDP?  Is the 32% utilization accorss the board or higher on all other cards?  Also, have you requested any CLIs on your CDP in the last 6 months?  You can see if you qualify for a SP CLI on your CDP - if unavailable then continue to lower the balance on CDP and see about applying for the Simplicity once your utilization is lower.

[Membersince2013]

Hmmm..I'll speculate and say it's just pure mass messaging from Citi. My speculation is purely based on the information you've given us. It doesn't seem feasible that Citi would offer you that on a complete preapproval basis.

[alexak]

Current APR is 22% (yuck)

Yes the UTIL is across the board, only a few have higher balances.

I have requested CLIs on the CDP via the website (soft pull) and have been denied. Havent tried in a couple of months. Im thinking I'll just pay down the balance on my CDP and apply for the Simplicity at the end of Jan.

Thanks!

[Anonymous]

Why the simplicity and not a doublecash if you are gonna go for it.

[Membersince2013]

Yeah, like Nixon said, the best choice will be the Double Cash where you'll at least get 1% for your spending and possibly another 1% for payments. It also offers 0% APR for 15 months. If you value the extra 3 months of 0% APR over 2% cash back, then the Simplicity will be the way to go.

[Anonymous]

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@alexak wrote:

Hello!

I have had the Citi Diamond Prefered MC with a CL of 800 (current balance is approx 600) for a little over a year now.  I just received an email for a 0% APR for 18 months on balance transfer offer with the Simplicity card. I have a couple of other high balances at about 90% util on that CL(now due to the holidays) with high APR, and would love to transer some of the higher balances over. Here is a summary of my current credit report.

EX FAKO: 628

EQ FICO: 648

TU FICO: 654

UTIL: 32%

AoAA: 2-ish years

Last derog: Sept 2011, 90-day late

What are the chances of my approval? I have until Jan 30th to respond.

Thanks in advance!

---

Did it look like what I have inserted below? I used to have a CDP, but I PC'd it to a Double Cash a while back. Maybe they're sending to all (and previous?) CDP card holders. If I had gotten this offer a few months back before finding this site I might have considered it, but I've already transferred all the balances I was paying interest on. If you need to transfer a balance I'd strongly consider a Slate, which you could later PC. That 3% fee adds up and the Simplicity doesn't seem to have any advantages over Slate except for the lack of fees and penalty APRs if you dont' pay on time. I would try the pre-qualification forms on the Citi and Chase websites and see if you get an offer for either. 

I also agree on apping for the Double Cash instead if you can get a balance transfer when you first open it.