Citi, you're killing me. I mean it.

koalablue · ‎08-29-2013

Unbelievable. I had applied for a Citi Simplicity card on 8/14 and was instantly denied. Then I applied for a BofA 123 Cash Rewards card a few days later and was approved for 10,000. I had wanted some card that had 0% interest for a year or so since my Discover 0% interest (given to me as an incentive to use the card more - it worked) runs out in March. So today, I get an e-mail from Citi congratulating me on being approved for a Citi Simplicity with a 9,000 credit limit. What, did they see the BofA approval and want to jump on the bandwagon or something? Citi hard pulled me on 8/14 and softed me on 8/26 (their e-mail said I was approved as of 8/26). The thing that worries me about this is that I was approved for a PenFed Promise Visa and a local credit union visa in late July, for 13,000 and 8,000 limits respectively, and I don't want any AA from PenFed, or from Chase (I have 5 cards with them) or Amex (4 cards with them). I have no balance on my Amex cards and about 200 on my Chase cards total. Have about 2000 on my Discover, a lot of which I'll pay off on Sept. 1 before the statement closes.

The BofA and PenFed cards have reported to my credit reports but the credit union visa hasn't even reported yet. As of 8/19, Experian FICO score is 725 and Equifax FICO is 695. Oldest account is 20 years (WF Visa for 23,500) and AAOA is about 4 years now.

I'm wondering if I should cancel the Simplicity. In a way I hate to do it since I've had my eye on the card for over a year and I'd given up on being approved for it. But I don't want AA from PenFed, Amex or Chase. What do you think?

Creditaddict · ‎08-29-2013

I think AA from banks is taken way out of control (this coming form someone who has had multiple AA from banks... and while they make me mad as hell and I rant about them, I would not change what I have done with other banks in *hopes* that it would not get me the AA or what not... it could be so random, even when you think it's that exact thing. if you need the BT and simplicity is 18 months, then that would be the 1st card I would be wanting and worrying about.

I thought I only heard of Penfed not liking apps or new accounts BEFORE you are approved with them, not after

Amex... I don't think they care at all as long as your overall debt is not multiplying up by the months fast and your not all of a sudden charging like a millionaire on your current amex cards that's out of norm... they got you gauged pretty well by now with 4 accounts.

Wells.. well I hate them and they have recently AA my partner which makes me hate them even more... he doesn't use it but has banked with them since before he was 18, they still CLD... I just hate them... i have rants on business side too... but do you think I'm going to not BT something I'm paying interest on because I don't want wells to AA a card that doesn't give rewards for crap and we don't currently even want to put a stick of gum on... NO!

banks are there to keep your money, spend your money, or borrow your money... if you have debt and your trying to retire it... that is the only thing I would be worried about... if you save money and get out of debt and along the way you get an AA from someone... when you finish cleaning up the debt and if you find that you REALLY want that relationship back, go back to them and take the HP and have them do a review with you now all squeeky clean and im sure they will be right back to loving you... I personally want the bank that doesn't freak every time I do something different.... i start missing payments or actually using the card in a way that is out of pattern, then we can talk.

withaspark · ‎08-29-2013

Whoa. Don't know what else to say. I probably wouldn't cancel the Citi (unless your that afraid of a lender closure vs. consumer closure that the lower probability risk is too much to bare).

I certainly wouldn't let any large balances post to avoid spooking PenFed/Chase, though.

Best of luck.

myjourney · ‎08-29-2013

Unbelievable indeed congarts

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

koalablue · ‎08-29-2013

@Creditaddict wrote:
I think AA from banks is taken way out of control (this coming form someone who has had multiple AA from banks... and while they make me mad as hell and I rant about them, I would not change what I have done with other banks in *hopes* that it would not get me the AA or what not... it could be so random, even when you think it's that exact thing. if you need the BT and simplicity is 18 months, then that would be the 1st card I would be wanting and worrying about.
I thought I only heard of Penfed not liking apps or new accounts BEFORE you are approved with them, not after
Amex... I don't think they care at all as long as your overall debt is not multiplying up by the months fast and your not all of a sudden charging like a millionaire on your current amex cards that's out of norm... they got you gauged pretty well by now with 4 accounts.
Wells.. well I hate them and they have recently AA my partner which makes me hate them even more... he doesn't use it but has banked with them since before he was 18, they still CLD... I just hate them... i have rants on business side too... but do you think I'm going to not BT something I'm paying interest on because I don't want wells to AA a card that doesn't give rewards for crap and we don't currently even want to put a stick of gum on... NO!
banks are there to keep your money, spend your money, or borrow your money... if you have debt and your trying to retire it... that is the only thing I would be worried about... if you save money and get out of debt and along the way you get an AA from someone... when you finish cleaning up the debt and if you find that you REALLY want that relationship back, go back to them and take the HP and have them do a review with you now all squeeky clean and im sure they will be right back to loving you... I personally want the bank that doesn't freak every time I do something different.... i start missing payments or actually using the card in a way that is out of pattern, then we can talk.

Your points are well taken - thank you for responding. I actually just applied for the Simplicity for the 0% interest on purchases for a year (I got 12 months in my offer instead of 18), not for the balance transfer. I don't need to transfer any balances. The BofA card is 0% on purchases for 15 months, which is great, and I'm happy to have it. So I don't need the Simplicity, but I'd like to hang onto it just the same. If it means AA from my other card issuers though, then its not worth it. I'll have to think about it a bit more I guess. I think they've set up the account for me though, so maybe they will report it anyway even if I do cancel it.

Creditaddict · ‎08-29-2013

oh sorry missed that point... if you are not getting ready to BT a large amount to citi or BofA, I would worry even less about AA from other cards.... I find it rare that banks AA just on new accounts... especially only 2 new accounts after the others opened.... AA for me has been seen with increase in debt or huge increase in monthly spending on accounts that in past had not.