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Senior Contributor
BungalowMo
Posts: 4,234
Registered: ‎05-01-2008
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Re: I fell off the no-app wagon

[ Edited ]

I fell off the wagon yesterday & apped for a Citi card.  Got the denial just now.  :smileysad:

 

(we need a crying-in-the-beer icon)

 

Would the backdoor Citi # be the way to go here?  I had a car loan they took over a few years ago & was NEVER late!  That should count for something!!!  

 

 

One question....I went to that Alliant CU website...what score is that that they give you??  That's not a FICO is it??


Message Edited by BungalowMo on 05-31-2009 09:25 PM


Starting Score: 07/2011 TU 732 - EQ 717 - EX 702
Current Score: 06/2014 TU 739 - EQ '08 709 - EX 721
Goal Score: 850

Bury me in the garden...last app 06.18.14

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Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: I fell off the no-app wagon


BungalowMo wrote:

One question....I went to that Alliant CU website...what score is that that they give you??  That's not a FICO is it??



It's a FICO, but it's a FICO NextGen score, which I think was FICO's counter to the Vantage score. It didn't really go anywhere.

It weights factors differently than does the classic EX FICO score, so there's not a reliable correlation between the two. Nevertheless, there's a thread bouncing around arguing about this, and it has a conversion formula.

Like all these things, it works for some people's scores. Whether it would work for everyone's, who knows?

At any rate, it will probably be most useful in announcing that something is going on with your EX reports, via score changes. Again, though, how well it matches is up for debate, especially as it is nearly impossible to find out the classic EX score.
* 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
Senior Contributor
BungalowMo
Posts: 4,234
Registered: ‎05-01-2008
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Re: I fell off the no-app wagon

Thanks HSU!  What do you think about that backdoor # for my Citi denial?   Of course...they hit my EX report.


Starting Score: 07/2011 TU 732 - EQ 717 - EX 702
Current Score: 06/2014 TU 739 - EQ '08 709 - EX 721
Goal Score: 850

Bury me in the garden...last app 06.18.14

Established Contributor
cartercorp
Posts: 851
Registered: ‎07-01-2008
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Re: I fell off the no-app wagon


DickC wrote: 

 I have not applied for credit in over 8 years.:smileyhappy:


Thats a record around here im sure...

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Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: I fell off the no-app wagon


BungalowMo wrote:
Thanks HSU!  What do you think about that backdoor # for my Citi denial?   Of course...they hit my EX report.

I've never used that number. I have my own phone numbers to talk in circles with my Sears Citi card. :smileyvery-happy:

I was hoping that some of the recon experts would reply. My theory is, it never hurts to try.
* 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
Frequent Contributor
illtakecreditforthat
Posts: 320
Registered: ‎05-03-2009
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Re: I fell off the no-app wagon

BungalowMo,

 

Which Citi card did you apply for?  I've found that each of their more than 30 cards has specific criteria for acceptance (i.e. HiltonHonors requires a minimum of 9 satisfactory tradelines).  Certain of their cards (Diamond Preferred, Forward) have less stringent requirements than their so-called "premier" or co-branded cards. I've found that once approved, they will definitely grow with you.

 

My advice is if you do call try to have an analyst direct you to one of their "easier" qualifying cards.

 

I want PATIENCE...and I want it NOW
Senior Contributor
BungalowMo
Posts: 4,234
Registered: ‎05-01-2008
0

Re: I fell off the no-app wagon

It was their Platinum Select card.  I guess I just was hoping to get a 0 int for a year & put my car pmt on it.

 

My brother...being nice...put my car on his card & I paid him.  Then he got a letter he never read (if you use card again, int goes from 10.9 to 24.9) He bought brake pads & now I'M screwed!!!  :smileymad:

 

He said my interest pmts are only $65.00 per month!!! :smileysurprised:

 

You gotta know I'm pi$$ed!!



Starting Score: 07/2011 TU 732 - EQ 717 - EX 702
Current Score: 06/2014 TU 739 - EQ '08 709 - EX 721
Goal Score: 850

Bury me in the garden...last app 06.18.14

Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
0

Re: I fell off the no-app wagon


illtakecreditforthat wrote:

itsmeagain,

 

If you're going to fall off the wagon, Alliant should cushion your fall.  Great CU.

 

 


Amen to that!

 

As per my original post, the reason I fell off the wagon was to app for a car loan and CC.  I was pre-approved for pretty much anything I want in a vehicle but would only give me a 5K on the CC because of my short history (1yr. 8 mo. avg.).

 

An interesting part of the conversation however, centered around my score.  He told me that Alliant uses the "Providian Model" for scoring.  It is based a range from 350 to 950 and even though my EQ FICO score is  743, the Providian score is between 690 and 718 (he wouldn't tell me exactly). He did say though, that it was an excellent score and I should have no problems with a 100% CLI after 6 mo.

 

So, even though I'm a sinner, I'm satisfied for the next year or so . . . . and that's my story and I'm sticking to it.


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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Frequent Contributor
DickC
Posts: 260
Registered: ‎05-21-2009
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Re: I fell off the no-app wagon


FocusOnFICO wrote:
DickC---that is an outstaninding setup that you and your wife have done.  Although I have a lot of time before we hit retirement, our goal is to have a similar setup---thanks for the encouragement!

 

Thank you for the kind words. I know retirement seems far off for many but at my age (61) it is enjoyable.

 

OF COURSE, they never quit wanting to get you to "apply" for things. I throw away so many "pre-approved" apps it is funny, from Banks, Stores, Gas cards, etc.

 

Also, I turn down Credit Limit Increases I am offered because honestly I see no need for them. Our Credit limits are sufficent to meet all our needs so having it raised just for the sake of it, seems unnecessary to me.

 

Just so they (the Credit Card Issuers) know I am thinking about them, I use each card several times a month, so they can make a few dollars off processing fees. Fortunately, I have not had to carry a balance in several years, so I don't mind throwing some business their way.

 

If a Major purchase is needed, we wait until someone offers us a "0% Interest option for a time", and then may use it, as why not use their money for free?

 

As I read the forums, one thing I would like to add, is that I have found it is very important, regardless of the amount of money you have to establish a relationship with an offficer at your bank. Be it just saying hello when you are in there, or if they are ot busy, sitting down and asking them something, (even if you know the answer) as it lets them see and get to know you. Branch managers can have many ways to assist you and it is much easier if they know who you are.

 

Good luck in your quest for retirement.I hope you reach that goal soon.

 

 

Regular Contributor
FocusOnFICO
Posts: 180
Registered: ‎05-01-2009
0

Re: I fell off the no-app wagon

Thanks.  I would also recommend--from a id theft, etc. angle--please shred your cc offers as opposed to throwing them in the trash.  Better safe than sorry.

 

Smart moves on how you handle your cards!


Starting Score: TU 766 EQ 788
Current Score: TU 788 EQ 811
Goal Score: TU 800 EQ 800


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