I am looking to re-invent my credit profile, by beginning the process of closing out the sub-prime/low-limit cards I have and replacing them with prime issuers. I have been eyeing up Citi. Based on what others have posted, they seem to be generous with initial CL's as well as frequent auto CLI's.
First on my chopping block are the fee-crazy FP accounts. Below is a summary of my current credit profile from TU (EQ is spotless and EX is slightly worse):
FP Gold - since 9/2008 - 650 CL
FP Plat - since 3/2009 - 750 CL
Orchard - since 3/2009 - 400 CL
Amex (Oasis) - backdated to 4/2004 - 500CL
Cap1 - since 2/2010 - 1.5K CL
Alliant CU - brand new - 15K CL (not reporting yet)
4 derog trades, all paid, all 4+ years old (no collection accounts, just paid CO's)
Several paid/never late auto and student loans
1 open/never late student loan
1 open/never late auto loan
Total: 28 accounts, 8 open, 20 closed (most of them pre-consolidation student loans), 4 derogs. Scores are below.
Here's my questions....
- First and foremost, how does Citi view derogs? I have 4 to contend with.
- Is there one Citi product which is more lenient than another from a credit quality standpoint?
- Any experience with what bureau they pull? Previous posts related to this seem all over the board, wondering if that's still the case.
- Should I wait for my new alliant CC to report? I struggle with whether it's better to app before it shows up, or wait since it's my highest CL by a long shot.
I'm looking for some guidance on how to proceed. At some point in the next year, also plan on closing my AmEx oasis and re-apping for a non-recovery product. Since they are exclusively EX I am waiting until that CRA ages a little more.
