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will citi take me?

Frequent Contributor

will citi take me?

I make 55k a year and my score is around 650, I just paid off 3k in cc debt this week and paid off the remaining $800 on my first car loan and closed it. None of these changes are reflected yet on myfico. I am trying to get an additional prime card to use when traveling. I like the BOA card since I buy 10-15k worth of tickets each year.

 

I closed my cap1 cards and closed my walmart account this week. These are the only accounts I have;

 BOA AkAir 1200/3500 *Opened 3/2011

PayPal SC 500/3850  *Opened 2/2011

Discover     0/1250 *Opened 8/2009

AE (Store)  0/1100  *Opened 2/2011

JCP (Store) 0/1800 *Opened 10/2010

 

Personal loan 8000 balance with 13k starting balance @ 310 a month.

AkAir $50k | Marriott $65k | Local CU $8k
TU: 770 / EQ: 748 / EX: 769
Message 1 of 14
13 REPLIES
Regular Contributor

Re: will citi take me?

I hate to say it but I bet your score drops some for closing your accounts! Your average age of accounts will probably be low since your accounts are all fairly new! I would hold off a bit and wait on your score to come up a bit! Good luck!

Starting Score: TU 640, EQ 636, EX 645
Current Score: TU 665, EQ 706, EX ?
Goal Score: All above 700


Take the FICO Fitness Challenge
Message 2 of 14
Valued Contributor

Re: will citi take me?

Are you sure scores would drop from closing accounts? If they were in good standing, they will continue to report for 10 years.

Starting Score: EQ 681 5/2011, EX 656 6/2011 (PSECU), TU98 642 6/2011
Current Score: EQ 741 12/2011, EX 730 08/15 (PSECU), TU08 710 08/15
Goal Score: 725+ across the board


Take the FICO Fitness Challenge

Message 3 of 14
Valued Contributor

Re: will citi take me?

If UTIL % is hurt by closing the accounts, that would cause a score drop though.

Starting Score: EQ 681 5/2011, EX 656 6/2011 (PSECU), TU98 642 6/2011
Current Score: EQ 741 12/2011, EX 730 08/15 (PSECU), TU08 710 08/15
Goal Score: 725+ across the board


Take the FICO Fitness Challenge

Message 4 of 14
Established Contributor

Re: will citi take me?

The paid/closed account will not reduce AAoA.  It will continue to report for 10 years.  Utilization should be optimal for scoring purposes to be between 1-9%.  I would wait for score update, and try to get close to 700 before going anywhere near Citi with very few inquiries as well.

Current Score: EQ: 828, EX: 833, TU: 820 Citi TY Premier WEMC 46.5, (Since 1983)Discover 15.6k|BOA WMC 30.5k|Barclays Juniper Rewards 15k|Barclays Amex 20k| Cap One QS WMC 15K|Chase Freedom VS 19.3k|Citi Dividend WEMC 25k|FNBO 15.5k|CSP 22.1K|Chase Marriott 31.3k|Citi TYP 20K|Citi DP 16.5k|Macys 5k|Sams MasterCard 15k|Barclay Arrival Plus WEMC 18.7k|Chase IHG WMC 26k|Citi Double Cash 10k|Chase MileagePlus Explorer 14k|Amex Everyday 16.2|BBVA Amex 22.5k|Total Rewards VS 12.5k|SGV 10K|Venture 12k|BOA Virgin Atlantic WEMC 11.2K|MB Amex 9.5k
Message 5 of 14
Moderator Emeritus

Re: will citi take me?


Prettylady1 wrote:
I hate to say it but I bet your score drops some for closing your accounts! Your average age of accounts will probably be low since your accounts are all fairly new! I would hold off a bit and wait on your score to come up a bit! Good luck!


Closing accounts does not affect AAoA or credit length history. You can read more details here about Closing Credit Cards.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Message 6 of 14
Super Contributor

Re: will citi take me?

It will ony affect your score if there is a major decrease in your available balance hence your util % will go up. If the card you closed is not a big part of your total available balnce then it would be minor




Message 7 of 14
Valued Contributor

Re: will citi take me?

If possible, I would bring your Paypal balance to at least below $385 and pay off the BOA card and then sit and wait for everything to report.  Then I would apply for Citi.

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




Starting Score: 648
Current Score: 736
Goal Score: 765


Take the FICO Fitness Challenge

Message 8 of 14
Frequent Contributor

Re: will citi take me?

Thanks for all of the replies ill get my accounts below 10% before apping. Wanted a Low apr card since i have a couple $K in insurance payments coming up that I usually pay in full.
AkAir $50k | Marriott $65k | Local CU $8k
TU: 770 / EQ: 748 / EX: 769
Message 9 of 14
Senior Contributor

Re: will citi take me?

agree citi is pretty util sensitive so u should be golden under 10%

Message 10 of 14