Invited to apply for Citi Simplicity

[tcbofade]

OK, I wasn't invited, but DW received an "invitation to apply" in the mail yesterday.  0% for 18 months...y'all just KNOW that I love zero percent....but...

Frankly, we both believe that IF she applies for it, they'll deny her...

Her TU is 648 courtesy of Wallymart 7/4/12.

EQ 635 courtesy of a Discover denial 7/7/12.

EX 634 FAKO as of today.

No recent baddies, but a few medical charge offs in 06 and 07.

Frankly, I think it's a waste of an inquiry to apply.

Your thoughts?

[Anonymous]

In my experience pre-approvals/invitiations/pre-selected mean Jack.  When I started rebuilding I got several preapprovals and they were denied, then applied for Discover and Amex and was approved.  Go for cards that you want, when you know you have the most chance of getting them.  YMMV

[tcbofade]

Eh.  We've got plenty of cards...

The zero percent for 18 months is appealing tho...

I'm always interested in "upgrading" a credit card...maybe close one or two sub prime cards when better, newer credit lines are available.

...but I still think that they'll deny her...

[Cdnewmanpac]

So there have been many reports of people applying for a citi card, getting rejected, then reapplying after a targeted mailing and getting approved. But I agree that this card seems like a long shot. It is supposed to be one of the harder to get Citi cards (because of the no penalty apr, no penalty for late payment, etc.) and Citi doesn't traditionally like to see charge-offs (of any sort). If she doesn't have a reason to save her inquiries right now (no card she's got her heart set on, no plans to apply for mortgage, car loan, etc.), then why not give it a try. It is a good card and Citi cards can certainly grow with you. But otherwise, I'd give it a pass.

[flipdc]

last month i adk citi for cli of 5k and approved me after 8 months. few days ago i applied for the simplicity thru myfico and got 60 seconds approval of 3k with 648 myfico score thru eq. got lucky i guess.

[Autumnslight]

I got the pre-qualification "invitation" for Citi Simplicity yesterday as well. I applied, since I could use the 0% balance transfer, but got the "further review" message.

I also replied to a pre-qualified mailing for the Citi Thank You card a couple of weeks ago, and I had gotten the "further review" and was then declined. I thought that maybe the Simplicity mailing was kind of a response to my app and decline for the Thank You card, and maybe they'd approve me for this one, but I don't know. I'm probably going to call for recon and see what happens.

*Edit* - my scores are EX 682 (per Amex, 7/29/12), EQ 631 (per MyFico, 7/30/12), TU 695 (Per Walmart 7/30/12)

[RockinRay]

50/50 at best - I would not do it at this time.

Wait until the next offer comes along. One will...

[tcbofade]

No kidding, Ray...today is the 4th...FIVE days later, and now she has an invite to apply for the Thankyou preferred...\

...it's getting awfully tempting....

[RockinRay]

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@tcbofade wrote:

No kidding, Ray...today is the 4th...FIVE days later, and now she has an invite to apply for the Thankyou preferred...\

...it's getting awfully tempting....

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What are they offering? Is it worthwhile? Does the "money" make the right choice?

I always let the money drive what i do. If it makes good financial sense, I will usually do it. If they are tossing a 0 percent for 18 months with a reasonable BT fee, and I had some high interest cards that were eating me alive in interest each month, I would take the 50/50 chance and do it.

I wish you well in what you decide to do! Based on what I have read here from you, you will make the "smart" choice.

Let us know....

[tcbofade]

Thats exactly what they're offering... 0% for 18 months...and if she does NOT qualify for the "thank you preferred" she will be considered for the "thank you" version.

She's not home...we'll talk more when she gets here...