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This practice should be illegal. Either the CC Companies should send you a pre-approval based on a soft-pull OR non-descript advertising with no implied promise of approval. They seem to target people who's credit has marginally improved but not sufficiently to give them the broadest range of choices. I can't imagine how many people are damaging their credit even more with inquiries reaching for this carrot on a stick. I agree with an earlier poster. Stay away from these offers until your FICO is in the 700-720+ range (forget the FAKO altogether) and you've removed the negatives from your CR. In the meantime you're better off with secured cards that convert to non-secured cards (like BofA visa for example) after 12 months. Everyone is entitled to an opinion. I guess that's mine
If they waited a year and a half to apply I am sure they will take your advice into consideration.
She got it in December of 13.
I applied for both the Chase Marriott Premier card and the Citi HHonors Gold card the same day. Both said "decision pending".
I've had a Chase Slate for a little over 1 year with a 3k spending limit ($1,800 balance), and a Citi Diamond Preferred for a little over 1 year with a 1.9K spending limit ($1,500 balance). My overall utilization is 35% on my revolving credit.
After getting the "pending" message from both Citi and Chase I called the recon line.
Chase first...I played dumb and simply asked the lady if she needed more info from me. Put me on hold for 5 minutes and came back saying she had approved my card with a 5k limit. Great.
Not onto Citi. I actually received an email from them with an invitation to apply for the Citi Thank you Preferred with 20k bonus points. I decided to instead apply for the HHonors card with 50k bonus points as I travel quite a bit. So today I called the recon line and the guy on the phone sounded like a complete idiot. Wouldn't give me any reasons and simply said I will receive information in the mail. Asked if I could speak to someone who could review my application and reconsider. Put me on hold for 5 minutes...came back and said sorry declined...you'll get the info in the mail.
My scores range from a 690 to a 730. There's no baddies at all and the reason it's lower than it should be is because I have over 10 inquiries.
I have had a Citi card for over 1 year, never been late. I have no baddies on my CR. My util is 35%. My income is over 60k. Why the denial and them being so shady about it?
Hi nycsimone, I was wondering what the result of this was, did you get approved? I've just also applied and gotten the status pending. Called and they told me the same thing, will receive something in the mail. Based on my 7/14/2014 Experian report my score was 738 and I have no collections with perfect payment history. I have some inquiries on there due to recently purchasing a new car. I can't think of any other reason why I would not have been instantly approved?
I got The Citi Diamond prefered invite but when I applied I got a big fat "NO". I knew I wasn't ready but they put the 11.9% carrot in my face and like a fool, went for it.
Moral of the story, keep gardening if that's where you think you need to be. I don't think Citi pre-approvals are as good as some of the others.
@tcbofade wrote: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?
from my personal experience Citi invites are just marketing tools and not at all solid.
@nycsimone wrote:I applied for both the Chase Marriott Premier card and the Citi HHonors Gold card the same day. Both said "decision pending".
I've had a Chase Slate for a little over 1 year with a 3k spending limit ($1,800 balance), and a Citi Diamond Preferred for a little over 1 year with a 1.9K spending limit ($1,500 balance). My overall utilization is 35% on my revolving credit.
After getting the "pending" message from both Citi and Chase I called the recon line.
Chase first...I played dumb and simply asked the lady if she needed more info from me. Put me on hold for 5 minutes and came back saying she had approved my card with a 5k limit. Great.
Not onto Citi. I actually received an email from them with an invitation to apply for the Citi Thank you Preferred with 20k bonus points. I decided to instead apply for the HHonors card with 50k bonus points as I travel quite a bit. So today I called the recon line and the guy on the phone sounded like a complete idiot. Wouldn't give me any reasons and simply said I will receive information in the mail. Asked if I could speak to someone who could review my application and reconsider. Put me on hold for 5 minutes...came back and said sorry declined...you'll get the info in the mail.
My scores range from a 690 to a 730. There's no baddies at all and the reason it's lower than it should be is because I have over 10 inquiries.
I have had a Citi card for over 1 year, never been late. I have no baddies on my CR. My util is 35%. My income is over 60k. Why the denial and them being so shady about it?
Maybe they have an issue with your UTL on your Chase (60%) and your card with them (79%) ? That would be my best guess
@keithB wrote:I got The Citi Diamond prefered invite but when I applied I got a big fat "NO". I knew I wasn't ready but they put the 11.9% carrot in my face and like a fool, went for it.
Moral of the story, keep gardening if that's where you think you need to be. I don't think Citi pre-approvals are as good as some of the others.
And remember, you don't need to apply for a card just because you got some form of mail. Does the card make sense? Is there another card, even from the same issuer, that makes more sense. Too many here go for what is basically marketing, in a way they wouldn't go for other marketing (my example of buying a particular car just because you get an ad for it)
@longtimelurker wrote:
@keithB wrote:I got The Citi Diamond prefered invite but when I applied I got a big fat "NO". I knew I wasn't ready but they put the 11.9% carrot in my face and like a fool, went for it.
Moral of the story, keep gardening if that's where you think you need to be. I don't think Citi pre-approvals are as good as some of the others.
And remember, you don't need to apply for a card just because you got some form of mail. Does the card make sense? Is there another card, even from the same issuer, that makes more sense. Too many here go for what is basically marketing, in a way they wouldn't go for other marketing (my example of buying a particular car just because you get an ad for it)
Yes, I realize the Citi Diamond Preferred isn't the most glamorous card but the 11.9% they "offered" would have been my lowest APR. I guess I wanted to just get an APR in the better zone as my next lowest is 16.9% with USAA. I was hoping I could get lower and play the companies against each other, haha.... I was the only one that got played =P