Reply
Established Contributor
modernsurrender
Posts: 805
Registered: ‎02-01-2008
0

What are my odds with Citi?

I've been getting at least two "pre selected" notices from Citi a week for the past 4+ months with varying rates and terms.  While I was initially completely disinterested in them because they shot me down last April, I'm a bit more tempted now... Mostly because if I were approved for a decent limit now I could BT DH's credit card debt to it which would allow him to shop for some better cards (he's had his cards for 5-10 years each and has been advised by more than one CSR that he'd be better off applying for new cards than trying to get these to grow for various reasons).  Then his new cards, as well as mine, would have plenty of time to age to before we start home shopping in late 2014 or early 2015.

 

I'm curious about what my odds of approval are though since I've heard Citi can be picky.

 

Right now, my profile is something like this: I've got around 12% util, AAoA is a bit short at under 3 years due to new accounts from 2012 (3 are less than 6 months old from Nov/Nov/Jan), 2 derogs (one paid CO and one collection) due to fall off next year, and about 3 inquiries per report (more than 2/3 of those will be off by the end of April).  My TU score is probably around 700... It was 692 on 3/13 but since then my util dropped 8% and I had an old collection drop off, however last time I app'd with Citi they pulled Experian... Quizzle gives me a 753 right now but I don't know how Quizzle's Experian Fako (I assume) compares to whatever score Citi uses from Experian.

 

Thanks!

Start 2/2008: TU 495 || EX 539 || EQ 528
Now 5/2013: TU 716 || EX ??? || EQ 702

Slate: $5000 Simplicity: $5000 David's Bridal: $3500 SW Chase: $3000 FNBO: $3000 Barclay NFL: $2500 BofA: $2400 Discover IT: $1700 Walmart: $1500 Victoria's Secret: $1000 Cap1: $750 Amex Zync: NPSL
(2 derogs to go until I'm squeaky clean in 2014!)
New Contributor
danielodonoll
Posts: 401
Registered: ‎03-16-2013
0

Re: What are my odds with Citi?

Not to good due to the negatives on your report

Citi is picky when u have any negatives reporting but thats just me my self and i so you could alway apply and find out

good luck though

Citi Bank X2/ 29k-USAA Amex/Mastercard 24k-PP Mastercard 20k_
WMDiscover 20k-PenFed X2/15k
Current Fico/EQ-765
Garden Time Day- 10
Remaining Days-170
Established Contributor
modernsurrender
Posts: 805
Registered: ‎02-01-2008
0

Re: What are my odds with Citi?


danielodonoll wrote:

Not to good due to the negatives on your report

Citi is picky when u have any negatives reporting but thats just me my self and i so you could alway apply and find out

good luck though


That's what I've read, but I just don't understand why they'd keep killing trees to send me pre selected offers when they can clearly see the two old derogs on my report...

Start 2/2008: TU 495 || EX 539 || EQ 528
Now 5/2013: TU 716 || EX ??? || EQ 702

Slate: $5000 Simplicity: $5000 David's Bridal: $3500 SW Chase: $3000 FNBO: $3000 Barclay NFL: $2500 BofA: $2400 Discover IT: $1700 Walmart: $1500 Victoria's Secret: $1000 Cap1: $750 Amex Zync: NPSL
(2 derogs to go until I'm squeaky clean in 2014!)
Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
0

Re: What are my odds with Citi?

I applied after recieving a preselected offer last year with two six year old CA's.  Denied.  If you have any CA's or CO's I wouldn't waste the inquiery. 

New Contributor
danielodonoll
Posts: 401
Registered: ‎03-16-2013
0

Re: What are my odds with Citi?

Thats because they are not the one that sends those letters

They are send from a second party telemarketing

Citi Bank X2/ 29k-USAA Amex/Mastercard 24k-PP Mastercard 20k_
WMDiscover 20k-PenFed X2/15k
Current Fico/EQ-765
Garden Time Day- 10
Remaining Days-170
Blogger
HiLine
Posts: 3,172
Registered: ‎10-19-2012
0

Re: What are my odds with Citi?

[ Edited ]

danielodonoll wrote:

Thats because they are not the one that sends those letters

They are send from a second party telemarketing


Interesting ... Are you sure those letters are not sent from a Citi address? Honest question.

 

New Member
LosAngeles
Posts: 15
Registered: ‎03-11-2013
0

Re: What are my odds with Citi?

To be honest, I don't think you have a great shot. Is 12% utilization the highest utilization on any of your lines, or is that a combined total? Because they will look at a high utilization on individual cards... all your cards could be free, but if one of your 1k cards has say, an $800 balance then they will look at that.

 

IMO, I think if your TU and EX were like a 720+ and 12% is your highest utilization, you would have a decent shot.

 

I used to work for Citibank and I saw a lot of denials with Credit Scores lower than 720. Citicards (a seperate subsidiary of Citigroup), SEEMS to have their own scoring index (much like Amex). It was well known, when I worked there, that CC's were difficult to get approved--even with good income and FICO. What your CL will be, largely depends on your limit. They really SEEM to hate late any baddies on your CR, I saw denial of clients that made over 6 figures (with good FICO's) because of this.Citi is going for a more exclusive clientele; they want young, well-to-do, savvy professionals doing business with them--that's their target.

 

All this being said, it's a good sign that they are sending you the preselected notices. IN MY EXPERIENCE, that greatly increases approval ODDS.

 

I have two Citi CC's. The Forward card was my first CC ($800), when I was 18 and I just got approved for a TY Preffered card ($3,500). I have a 743 TU, 710 EX, 734 EQ and about 1.5 years of credit history. No late payments and usually keep a balance (but pay more than the minimum); I also have a Chase Freedom ($3,500). I got immediate approval, but still don't think that I would have gotten the TYP without having a pre-existing relationship with them.  I also had 0% Utilization when I applied.

 

Hope this information helps with your decision. I am no expert when it comes to CC's, but I thought I should share what I do know :smileywink:

 

 

 

New Member
LosAngeles
Posts: 15
Registered: ‎03-11-2013
0

Re: What are my odds with Citi?


danielodonoll wrote:

Thats because they are not the one that sends those letters

They are send from a second party telemarketing


 

Half true. If you have an account with Citibank, they are sent out through Citibank... All others are sent out through Citicards.

Established Contributor
modernsurrender
Posts: 805
Registered: ‎02-01-2008
0

Re: What are my odds with Citi?


boomhower wrote:

I applied after recieving a preselected offer last year with two six year old CA's.  Denied.  If you have any CA's or CO's I wouldn't waste the inquiery. 


Sounds pretty in line with what I'm looking at lol  That's what I was afraid of because I've read that they're not likely to approve with any derogs (no matter age).  Thanks for sharing!

Start 2/2008: TU 495 || EX 539 || EQ 528
Now 5/2013: TU 716 || EX ??? || EQ 702

Slate: $5000 Simplicity: $5000 David's Bridal: $3500 SW Chase: $3000 FNBO: $3000 Barclay NFL: $2500 BofA: $2400 Discover IT: $1700 Walmart: $1500 Victoria's Secret: $1000 Cap1: $750 Amex Zync: NPSL
(2 derogs to go until I'm squeaky clean in 2014!)
Senior Contributor
Open123
Posts: 4,219
Registered: ‎02-23-2011
0

Re: What are my odds with Citi?


modernsurrender wrote:

Right now, my profile is something like this: I've got around 12% util, AAoA is a bit short at under 3 years due to new accounts from 2012 (3 are less than 6 months old from Nov/Nov/Jan), 2 derogs (one paid CO and one collection) due to fall off next year, and about 3 inquiries per report (more than 2/3 of those will be off by the end of April).  My TU score is probably around 700... It was 692 on 3/13 but since then my util dropped 8% and I had an old collection drop off, however last time I app'd with Citi they pulled Experian... Quizzle gives me a 753 right now but I don't know how Quizzle's Experian Fako (I assume) compares to whatever score Citi uses from Experian.


Everything looks good, except for the derogs.

In my experience, Citi is one of the more difficult approvals, since they're entirely based on a computer algorithm with set parameters.  They are completely infexible with their criteria.  You have to have Fico score X, Income X, clean report X, balance within X Utility, have X accounts, with X CL, etc...

 

If preapproved, I thing it's worth a shot if you find one of their cards compelling.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}