06-06-2010 06:11 PM
So I've been reading up a lot on these credit forums lately and I've decided to get another cc.
I currently have a Discover Card with a $500 CL that is almost 1 year (it's currently 11 mos.) and I have PIF each and every month. I also have 2 student loans for $1000 each. I currently have a job at school grossing 200 a week that I just started. I have a bunch of hard inquiries (6-7) that will drop off the credit report mid August, which is when I plan on applying for the cards. By that time, I'm expecting two more student loans to pop up, one for $5500 and one for $3500. I plan on paying off at least one of my student loans by August. I currently have a TU score of 750 (April 20) and an EQ score of 677 (May 27). No baddies or anything.
I'm debating over 2 different CCs. The first, is a secured card ($330 deposit) with a credit limit of $300 from a local bank. I would be gauranteed the card, but that would mean I would have to leave the money sitting in the bank for a year and a half or so. The second option, is the Citi MTVu CC, which I'm not sure if I would be accepted or not based on my stats. I would rather get the second one because it means that my $330 isn't tied up, but if I don't have a good chance, I would rather just apply for the secured card and avoid another hard inquiry.
Oh, and just another thought, would a request for a CLI on the Discover Card be granted seeing the good record on the account.
Thanks in advance for your help!
06-06-2010 07:12 PM
I would think your scores are probably up to par for Citi but be warned they HATE inquiries. If you want to apply for Citi make sure you dont have many inquiries on your report.
06-06-2010 08:42 PM
Agreed on citi, Discover does take awhile but good card. tHE mtv card my younger sister apped for with 4 inq. on her EQ was approved for 1k?? Dont know her scores but she does have 3 other ccs nothing over 500 though. So idk?
06-08-2010 07:26 PM
I got the Citi forward with the following conditions
2 EQ inquiries, 3 Ex, 5 TU
Credit Scores in my sig.
I don't see why you wouldn't get it. I was approved for a $1200 limit.
FWIW, I AM a Citibank customer, and that was asked on the application, I don't know how much relevance that has here.
06-08-2010 10:38 PM
Which Citi card would be better forward or select platium? Which is easier to get?
Do you prefer one over the other?
06-08-2010 10:46 PM
Platinum Select tends to offer a lower interest rate, but the Forward card is undoubtedly easier to get. It is new so they're trying to get people to apply for it, plus it is geared toward people with limited incomes and limited credit history (college students). I'd go for the Forward card if I were you.
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.