Credit Card Center Advertiser Disclosure†
08-26-2010 09:19 AM
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.
08-26-2010 07:48 PM
they pulled my EX once & denied me, they pulled my gf's EQ & approved. who knows!
08-26-2010 07:59 PM
I have Citi Forward. $5000 CL
The pulled EX for me.
Definitely wait for Alliant to show up.
08-27-2010 06:04 AM
Thanks all for the advice! I will wait for it to report to the CRA's before applying. Hopefully the larger CL will help me get a larger initial CL with them...if I'm approved of course.
So it looks like the Citi Forward card is my best bet?
09-07-2010 04:36 AM
Not yet...I am waiting for the $15K Alliant visa to post to my CR's befor apping at Citi. I just activated it the other day, so it'll probably be a month or two before it shows up on all 3. I suppose it all depends on how they report (EOM, stmt cycle, etc). Once I app and get the results, I will be sure to post them!
Thanks and regards, Cardmaster.
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.