bad time to apply for CITI card?

[lizabeth]

i got my very first citi plat. select pre-approval in the mail!! i admit i was excited just a little.
the apr is just okay at 9.9%.  i REALLY REALLY want to apply for this. but i've caught wind that citi is in a rough spot right now? true or false? is this considered a quality company to do business with at this point?

i only have three revolving lines. banana republic $1000, macy's $1500, and BoA $2500.
all relatively new (from 6 months old - 2 years old)...
my utility is high on the BoA, and i have one false baddie on macys that they say should be off in 30 days or less.  (also some baddies on a closed car loan)...

EQ score is 650. 

i dont want to blow this inquiry as i currently have ZERO on my report.
whats the smart thing to do..  WAIT?  or take the plunge?
this would SERIOUSLY help my utility IFFFF i were approved.

help me out!

Message Edited by lizabeth on 01-16-2009 05:00 PM

[oracles]

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@lizabeth wrote:
i got my very first citi plat. select pre-approval in the mail!! i admit i was excited just a little.
the apr is just okay at 9.9% - actually this is very good in today's time for an apr, many cards are rate jacking and going over 20%.  i REALLY REALLY want to apply for this. but i've caught wind that citi is in a rough spot right now? true or false? is this considered a quality company to do business with at this point? They are struggling however word just came out they are dividing and the credit card division is staying with citigroup. This is a very profitable business for Citibank

i only have three revolving lines. banana republic $1000, macy's $1500, and BoA $2500.
all relatively new (from 6 months old - 2 years old)...
my utility is high on the BoA, and i have one false baddie on macys that they say should be off in 30 days or less.  (also some baddies on a closed car loan)...You should wait until the false baddie comes off your report and pay down your balance on BofA card. Alot of companies are denying due to high UTIL%

EQ score is 650.

i dont want to blow this inquiry as i currently have ZERO on my report.
whats the smart thing to do..  WAIT?  or take the plunge? WAIT
this would SERIOUSLY help my utility IFFFF i were approved.

help me out!

Message Edited by lizabeth on 01-16-2009 05:00 PM

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to add to my comments up top, wait until you get the false baddie off your report and pay down your B of A card and this will entail receiving a higher fico, cleaner report and a better chance for success.

Hope this helps and keep us updated

[Anonymous]

The baddies dont bode well with Citi, they are always known for being hard on those.

[lizabeth]

i will wait for the false baddie to fall off. this offer doesnt expire for a month.
i will push equifax to get on it.
as for old car loan baddies, i have to live with it. 
the lates were my parents doing and wells fargo is a cold hearted beast.

thanks a bunch! i'm glad someone reeled me back into reality.. and patience.

[Equinox]

Citi is still giving out nice CL's as i got a preoffer in the mail for their American Airlines AAdvantage Amex, with 25k miles after 750 bucks in purchases. I got approved for it on December 31st for 3k @ 680 EQ.

Let the baddie clear and shoot I'd say.

[oracles]

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@lizabeth wrote:

i will wait for the false baddie to fall off. this offer doesnt expire for a month.
i will push equifax to get on it.
as for old car loan baddies, i have to live with it. 
the lates were my parents doing and wells fargo is a cold hearted beast.

thanks a bunch! i'm glad someone reeled me back into reality.. and patience.

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No problem, patience is definitely a virture in today's times.

keep  us updated