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Frequent Contributor
Posts: 483
Registered: ‎05-06-2009
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Re: Citi question

[ Edited ]

Creditaddict wrote:
I get that, but you are always going to have some negative factor, but are you really loosing any points?  I don't think a computer application process is going to say omg a furniture personal finance account, they are in trouble, Denied!  and in the end I wouldn't care even if I did loose a couple points because guess what my cash makes more than paying cash for my mattress vs financing for free.  You only see bad terms if you miss a payment or don't pay off in the 0% period and all those reasons are not the finance companies fault, they are yours.

 

I'm not arguing how much of a negative factor it is to a score, or whether it is the right or wrong financial decision to make.  The OP asked if he would get dinged for the presence of that type of account and I was giving my experience.  It appears from the post above this that it depends if it shows as revolving or installment, which is a good bit of information for all of us.  We are all just trying to give accounts of our personal experience to the OP, per their request... No need to take it past that.

 

--edited to include referenced quote--

Message Edited by jausanka on 12-15-2009 04:15 PM
Frequent Contributor
Posts: 498
Registered: ‎01-29-2009
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Re: Citi question

Well if thats the case the Rep explained to us that it would be a 4k line of credit . That if we wanted to come back and buy more or once we paid it down some come back for a different set (bedroom for our son) The credit would be available to use . So it makes me believe that this should report then as a revovling account . At least thats what im hoping for . He stated we would even get a card (ashley furniture card?) hehe

 

But thank you everyone for you help . With my recent apps and such I just didnt need anything else weighing down my score! 


Starting Score: 680
Current Score: 761 From 12/11/2013
Goal Score: 800


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Registered: ‎04-01-2007
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Re: Citi question


Woolfman wrote:

Well if thats the case the Rep explained to us that it would be a 4k line of credit . That if we wanted to come back and buy more or once we paid it down some come back for a different set (bedroom for our son) The credit would be available to use . So it makes me believe that this should report then as a revovling account . At least thats what im hoping for . He stated we would even get a card (ashley furniture card?) hehe

 

But thank you everyone for you help . With my recent apps and such I just didnt need anything else weighing down my score! 



I think you'll be good, since he said that you can re-use the credit line. That's pretty much the difference between revolving and installment. With revolving, you can keep going back to the well. With installment, they loan you what they loan you, you pay it back, and that's it. So as long as they report it correctly, it should look like any other credit card.

Smart decision on the part of furniture stores. I knew my earlier guess about trying not to hurt customer's credit was ridiculously idealistic. By setting these up as revolving, they're increasing the odds that customers will keep returning over time.

Happy shopping! I like a lot of the stuff I've seen at Ashley's, although our local one was recently taken over by a competitor.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Member
Posts: 23
Registered: ‎02-10-2009
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Re: Citi question

I double checked my report and the account I opened with Ashley through Citifinancial last February is showing up as revolving.
Frequent Contributor
Posts: 498
Registered: ‎01-29-2009
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Re: Citi question

Well i guess Citi has love for me , Not sure if its from this app but almost a week after getting the furniture approval i got a pre approval from Citi for a CC . i didnt resist for very long. Sat down and filled out the info and about fell out of my chair . 12.5k CL .  yay my highest yet!

Starting Score: 680
Current Score: 761 From 12/11/2013
Goal Score: 800


Frequent Contributor
Posts: 456
Registered: ‎07-09-2008
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Re: Citi question


Woolfman wrote:
Well i guess Citi has love for me , Not sure if its from this app but almost a week after getting the furniture approval i got a pre approval from Citi for a CC . i didnt resist for very long. Sat down and filled out the info and about fell out of my chair . 12.5k CL .  yay my highest yet!

Congrats!

Frequent Contributor
Posts: 401
Registered: ‎02-23-2009
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Re: Citi question

Hey yall

I have a question for everyone in here. For Citi Credit Cards, do you guys see the CLI button appear on your account online?

 

I just have a newly open Citi CashReturns MC and I dont see the Request for CLI anywhere..Will it show online later or I have to call in to request for CLI over the phone?

 

 

 

Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
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Re: Citi question


CreditCard101 wrote:

Hey yall

I have a question for everyone in here. For Citi Credit Cards, do you guys see the CLI button appear on your account online?

 

I just have a newly open Citi CashReturns MC and I dont see the Request for CLI anywhere..Will it show online later or I have to call in to request for CLI over the phone?

 

 

 


Mines appeared back in November.  I didn't get an increase due to too many recent accounts.  Other members says the CLI button go away.  Mine still appearing.  If it's still there after my 6th statement generates 1/16, I will push the botton again for the 8th time.  

Frequent Contributor
Posts: 401
Registered: ‎02-23-2009
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Re: Citi question

[ Edited ]
Let me wait for a few months to see if the CLI button appear anywhere for my Citi CashReturns. It's my new account and as for my Citi AAdvantage the CLI is always there. I am not gonna touch it after 6-12 months..
Message Edited by CreditCard101 on 12-20-2009 05:20 PM
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Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
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Re: Citi question


CreditCard101 wrote:
Let me wait for a few months to see if the CLI button appear anywhere for my Citi CashReturns. It's my new account and as for my Citi AAdvantage the CLI is always there. I am not gonna touch it after 6-12 months..
Message Edited by CreditCard101 on 12-20-2009 05:20 PM

It will appear after the 3rd month.  But it's not an indication that the account is eligible for a CLI.

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