08-23-2012 06:08 PM
I am currently on my credit repair journey and have been stalking these boards for quite some time. And thanks to everyone here, I was able to have my one collection removed from all credit reports, and am waiting to hear back from CapOne on a GW for some lates (not getting my hopes up).
ok, So, I just got a "pre-screened" offer from Citi for the ThankYou Preferred Visa. I doesnt say anywhere that I am "Pre-approved" so I am a bit skeptical. Here is my currrent credit profile:
EQ Fico: 617; USAA Fako EX 630, EQ 606, TU 606
AAoA: 1 year
Oldest Account: 4 years 9 months
Total of 4 accounts, only 3 are open
Baddies: 30, 60 & 90 days late, From July 2012 to Aug 2011 due to financial hardship
%Util Reporting is 55% but will be 20% bynext statement cut (about a month)
INQ: EQ- 3 since June 2012, 6 total in the last year; EX: 2 in the last year; TU- 2 in the last 3 months, 4 total in the last year
Also, my mom added me as an AU to one of her oldest cards (about 7 years) and has only about 9% Util. I am waiting for it to show up in my reports.
My question is, could this be right? I havent gotten a credit card offer in over a year, especially not from a major bank, so I am quite surprised. Do I have a chance at getting approved or approved on recon once i get my %Util lowers? My open cards are CapOne Cash with a $300 limit and Orchard Bank with a $300 limit.
Thanks in advance! (and sorry for the novel!)
08-23-2012 07:54 PM
I just got approved from one of these, but my experian (the agency they will pull) was 80 pts higher than yours. If you dont mind a credit hit, you can try. I would think they would want a score around 660ish... but I again, I dont work there.
08-23-2012 07:56 PM
Pre-screened, pre-approved, etc. don't guarantee approval. They base the offer on minimal marketing info they get from the CRAs.
I'm not very familiar w/Citi, but the profile you have in your post doesn't look like they'd approve IMO. I would wait for your mother's card to report, as that will help w/your aging and util and should give your FICO a nice boost. At that point, maybe revisit apping w/Citi (or other prime card) -- though w/the lates, I'm not sure how you'd do.
08-23-2012 07:57 PM
Thats what I was thinking. I didn't think my score and/or credit profile was anywhere near what they look for.
I was planning on applying for a USAA Visa in December or January anyways.
08-23-2012 08:02 PM
DW has higher scores than yours. Less baddies. Lower util.
She got the same "prescreened" offer, and they denied her.
If I were you, I wouldn't waste the inq.