Will CITI close my account?

[sailor_mercury]

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@azguy13 wrote:

disregard this post, lol

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Darn right!!!!!  LOL..  You had me thinking I was crazy (not to say that I'm not).

[azguy13]

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@sailor_mercury wrote:

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@azguy13 wrote:

disregard this post, lol

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Darn right!!!!!  LOL..  You had me thinking I was crazy (not to say that I'm not).

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Nah, I think my sleeping pills are playng tricks on my mind, lol

[eagle2013]

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@azguy13 wrote:

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@Johnnyblaze1986 wrote:

Hummm, interesting info.

I have no negative information on my credit report, with all my scores ranging from 790-802. So if I get CLD, or even worse account close by CITI, it will be because of the account that's link to my address. I guess only time will tell...

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As long as you are responsible I wouldn't worry (especially with those scores). Sounds to me like you should educate your roommate, lol. You are obviously a responsible spender.

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+1 OP have you relayed the ramifications to your friend's credit? I know it can be difficult. Time to bring him/her to myfico (ignoring this thread obviously! haha)

[azguy13]

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@eagle2013 wrote:

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@azguy13 wrote:

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@Johnnyblaze1986 wrote:

Hummm, interesting info.

I have no negative information on my credit report, with all my scores ranging from 790-802. So if I get CLD, or even worse account close by CITI, it will be because of the account that's link to my address. I guess only time will tell...

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As long as you are responsible I wouldn't worry (especially with those scores). Sounds to me like you should educate your roommate, lol. You are obviously a responsible spender.

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+1 OP have you relayed the ramifications to your friend's credit? I know it can be difficult. Time to bring him/her to myfico (ignoring this thread obviously! haha)

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Haha, we are all friends here. Too bad FICO won't release their algorithms and banks won't let us interview their credit analysts so we know EXACTLY what we are talking about, lol. Life would be so much easier.

[improvingmycredit]

You asked if your account will be closed because of your roommates poor credit performance.  My answer still stands.  If you are not financially tied to this account, the likelihood of any AA to you is next to nothing.  Where it has been pointed out that there are cases of this happening (and it's a very large stretch I might add these instances) there are many more of people living in the same household that have the same situation involving family members and nothing has happened.  The remote possiblity that somehow his credit information pops up on your file is in my eyes the only possible trigger that might cause you some AA.  Monitor your reports, take care of your excellent record and you should have no problems.  

[enharu]

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@Johnnyblaze1986 wrote:

Hummm, interesting info.

I have no negative information on my credit report, with all my scores ranging from 790-802. So if I get CLD, or even worse account close by CITI, it will be because of the account that's link to my address. I guess only time will tell...

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unrelated to OP's situation, but FICO scores don't really matter to most lenders once you are approved. 

Most lenders use FICO scores only for the approval process, and once you're in, they'll evaluate you based on your internal score and your credit reports. For instance, my FICO is around 790ish but it didn't stop Chase from closing my accounts. I brought up my scores when I spoke to an analyst and he said it didn't matter at all since it's all based on their own algorithms.

So if your accounts ever get closed (another highly unlikely scenario), don't kill your roommates right away.

[azguy13]

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@enharu wrote:

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@Johnnyblaze1986 wrote:

Hummm, interesting info.

I have no negative information on my credit report, with all my scores ranging from 790-802. So if I get CLD, or even worse account close by CITI, it will be because of the account that's link to my address. I guess only time will tell...

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unrelated to OP's situation, but FICO scores don't really matter to most lenders once you are approved. 

Most lenders use FICO scores only for the approval process, and once you're in, they'll evaluate you based on your internal score and your credit reports. For instance, my FICO is around 790ish but it didn't stop Chase from closing my accounts. I brought up my scores when I spoke to an analyst and he said it didn't matter at all since it's all based on their own algorithms.

So if your accounts ever get closed (another highly unlikely scenario), don't kill your roommates right away.

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That makes sense. When I was AA'd by Amex in 2010, Chase quickly followed suit with a CLD. My score hadnt changed but they saw the change on the report itself.

[eagle2013]

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@azguy13 wrote:

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@eagle2013 wrote:

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@azguy13 wrote:

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@Johnnyblaze1986 wrote:

Hummm, interesting info.

I have no negative information on my credit report, with all my scores ranging from 790-802. So if I get CLD, or even worse account close by CITI, it will be because of the account that's link to my address. I guess only time will tell...

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As long as you are responsible I wouldn't worry (especially with those scores). Sounds to me like you should educate your roommate, lol. You are obviously a responsible spender.

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+1 OP have you relayed the ramifications to your friend's credit? I know it can be difficult. Time to bring him/her to myfico (ignoring this thread obviously! haha)

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Haha, we are all friends here. Too bad FICO won't release their algorithms and banks won't let us interview their credit analysts so we know EXACTLY what we are talking about, lol. Life would be so much easier.

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You know that reminds me (I can't believe I forgot to post a thread!)

I had a very interesting conversation with Discover trying to recon my initial credit limit a few weeks ago. At first, it was a no-go, and with my persistence he looked into it a bit. I gave him my degree level and email address again. Still didn't get an increase due to the account being so new, but I learned something from the CSR.

I asked him out of curiosity what he was looking at while he had me on hold that required my degree level and email as I know those weren't metrics of FICO. He was a little hesitant to answer, but he said something to the effect of composite score based on social media presence  As I true myfico-er, I asked more about what was evaluated and how I scored but I can tell that he was getting a bit antsy, so I stopped and we hung up shortly thereafter. I have no idea if an expansive social media profile would be considered a plus or risk, but it is still interesting to know that there are so many things we're evaluated on that we don't know! I think I'll make it is a point to chat up the CSRs and see what they see on their end! 

[azguy13]

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@eagle2013 wrote:

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@azguy13 wrote:

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@eagle2013 wrote:

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@azguy13 wrote:

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@Johnnyblaze1986 wrote:

Hummm, interesting info.

I have no negative information on my credit report, with all my scores ranging from 790-802. So if I get CLD, or even worse account close by CITI, it will be because of the account that's link to my address. I guess only time will tell...

---

As long as you are responsible I wouldn't worry (especially with those scores). Sounds to me like you should educate your roommate, lol. You are obviously a responsible spender.

---

+1 OP have you relayed the ramifications to your friend's credit? I know it can be difficult. Time to bring him/her to myfico (ignoring this thread obviously! haha)

---

Haha, we are all friends here. Too bad FICO won't release their algorithms and banks won't let us interview their credit analysts so we know EXACTLY what we are talking about, lol. Life would be so much easier.

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You know that reminds me (I can't believe I forgot to post a thread!)

I had a very interesting conversation with Discover trying to recon my initial credit limit a few weeks ago. At first, it was a no-go, and with my persistence he looked into it a bit. I gave him my degree level and email address again. Still didn't get an increase due to the account being so new, but I learned something from the CSR.

I asked him out of curiosity what he was looking at while he had me on hold that required my degree level and email as I know those weren't metrics of FICO. He was a little hesitant to answer, but he said something to the effect of composite score based on social media presence  As I true myfico-er, I asked more about what was evaluated and how I scored but I can tell that he was getting a bit antsy, so I stopped and we hung up shortly thereafter. I have no idea if an expansive social media profile would be considered a plus or risk, but it is still interesting to know that there are so many things we're evaluated on that we don't know! I think I'll make it is a point to chat up the CSRs and see what they see on their end! 

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I would definitely start a thread on that.

[policebox]

Does your friend pay you rent? Does it concern you that your friend is willing to arbitrarily run up a large debt with no intention of repaying it? If you have any financial ties to this person at all, such as sharing expenses, etc. you should prepare yourself for having this "friend" bail out on you too. I'd make certain to secure all my checkbooks, financial records, bank/debit cards, and cash as a precaution.