topic Re: Citi DC chances in Credit Card Applications

Citi DC chances

Caught750 — Fri, 27 Jul 2018 06:40:11 GMT

I was interested in the DC as a daily driver for a cash back card. What are everyone's thoughts on my chances? Stats below. Lol/12, 4/6. Bankcard 8 scores are between 690 and 710 EQ score is highest with fewest inquiries. I do have an old CO with Citi retail 6 years ago which was paid. All baddies about 6byears old. I'm not getting anything on the prequal page.

Re: Citi DC chances

Anonymous — Fri, 27 Jul 2018 07:49:37 GMT

I personally would not feel very confident in that app. I'd definitely suggest heading over to the credit pulls database though and checking out those that were approved/denied for the card with around your scores and with some of the same profile data points you have.

Re: Citi DC chances

Gmood1 — Fri, 27 Jul 2018 08:20:13 GMT

How many new accounts/ inqs the last six months?
Or let me rephrase, how many new accounts have reported in the last six months?
Your scores are fine for an approval.
They'll most likely double pull EX and EQ the first time around.

Be aware, they aren't known to be generous on SLs.
It was two years after my first card before I saw preapprovals from Citi.
The fact there's no preapprovals.. doesn't mean much.
They do eventually forgive stiffing them. I stiffed them back in 2009.

Re: Citi DC chances

Caught750 — Fri, 27 Jul 2018 15:15:31 GMT

4 new accts/inqs showing with 2 SP accounts hitting any day.

Re: Citi DC chances

Gmood1 — Fri, 27 Jul 2018 15:37:33 GMT

It could go either way. Depends on computers mood. lol
A instant approval is your friend, if you can pull it off.
A foot in the door is better than nothing at all.
After those two new accounts report. I wouldn't think about it for at least six months.
It all depends on how you value inqs?
If it doesn't bother you to burn one, give it a whirl. If you're going to cry in the shower afterwards...wait six more months before knocking on their door.😉

Re: Citi DC chances

Anonymous — Fri, 27 Jul 2018 16:17:41 GMT

@Caught750 wrote:
I was interested in the DC as a daily driver for a cash back card. What are everyone's thoughts on my chances? Stats below. Lol/12, 4/6. Bankcard 8 scores are between 690 and 710 EQ score is highest with fewest inquiries. I do have an old CO with Citi retail 6 years ago which was paid. All baddies about 6byears old. I'm not getting anything on the prequal page.

I think you've got a shot but I agree with the advice that if you are gonna be devastated about an inq. with no rewards then just wait 6 months.

But if the inq. isn't the end of the world then give it a shot. That 2% on everything is rock solid.

Re: Citi DC chances

Caught750 — Fri, 27 Jul 2018 16:47:04 GMT

While devastated and crying in the shower are definitely a stretch 🤣 I'd rather not wasted a HP. That's especially true when waiting 3 months gives me 6 months with no new accounts and the potential to put a serious dent in my want list

Re: Citi DC chances

Anonymous — Fri, 27 Jul 2018 16:54:27 GMT

@Caught750 wrote:
I was interested in the DC as a daily driver for a cash back card. What are everyone's thoughts on my chances? Stats below. Lol/12, 4/6. Bankcard 8 scores are between 690 and 710 EQ score is highest with fewest inquiries. I do have an old CO with Citi retail 6 years ago which was paid. All baddies about 6byears old. I'm not getting anything on the prequal page.

BLUF (Bottom Line Up Front): I think your FICO Scores are very borderline for Citi DC. They also seem to be new account sensitive, and to an ever so slight lesser degree inquiry sensitive. I think you need to let your smoking guns cool for 6-12 months so your new accounts can mature a little and some inquiries can stop throbbing. I've got a Citi DC and do use it as a daily for the 2% cash back and have zero complaints about anything so far. Good luck on your journey/endeavors, and please keep us all posted!

Re: Citi DC chances

Anonymous — Fri, 27 Jul 2018 17:22:13 GMT

It really depends on where you see your file now verses say 6 months. If you've got the type of file that isn't going to change [strengthen] much, perhaps it doesn't matter. I see all the time though people applying for cards now with a dirty file for example when their file is going to be clean in 3 months. It just doesn't make a lot of sense sometimes. It's important to look at the longer timeline, not just the immediate.

Re: Citi DC chances

Caught750 — Fri, 27 Jul 2018 17:30:22 GMT

As far dirty vs. clean that won't change much. However, age will change, current SLs will, scores will, inquiries won't be scorable. I'll give it until the 6 months of no new reported accounts and re evaluate

Re: Citi DC chances

Gmood1 — Fri, 27 Jul 2018 20:32:43 GMT

I don't agree with a foot in the door being better than nothing at all.  Just sneaking in with an approval to me isn't the way to go. Getting a $500 or $1000 SL now rather than waiting 6 months and strengthening your profile to get a $3000 SL (for example) doesn't make much sense.

It really depends on where you see your file now verses say 6 months.  If you've got the type of file that isn't going to change [strengthen] much, perhaps it doesn't matter.  I see all the time though people applying for cards now with a dirty file for example when their file is going to be clean in 3 months.  It just doesn't make a lot of sense sometimes. It's important to look at the longer timeline, not just the immediate.

First of all a foot in the door was in reference to the possibility of a small SL. I remember you whining about your SL with Citi. It wasn't that long ago.
Your CL has since grown. You also built some payment history with them in that time frame.
Something you can't do from the outside looking in.
I get you're score and data focused. Nothing wrong with that either.
Scores and data doesn't guarantee approvals nor denials. Many times there is no real explanation why some are approved while others are denied.

You guys talk as though you are guaranteed to be alive a day from now or six months from now.
Life doesn't work that way and neither does this credit game.

Re: Citi DC chances

Anonymous — Sat, 28 Jul 2018 07:20:08 GMT

@Gmood1
First of all a foot in the door was in reference to the possibility of a small SL. I remember you whining about your SL with Citi. It wasn't that long ago.
Your CL has since grown. You also built some payment history with them in that time frame.
Something you can't do from the outside looking in.
I get you're score and data focused. Nothing wrong with that either.
Scores and data doesn't guarantee approvals nor denials. Many times there is no real explanation why some are approved while others are denied.

You guys talk as though you are guaranteed to be alive a day from now or six months from now.
Life doesn't work that way and neither does this credit game.

I'm well aware that you were referencing a small SL with your "foot in the door" comment. You said that's better than nothing. Considering the OP, I disagree with your assessment. There's no need to get argumentative over it. We're allowed to disagree here and offer up different perspectives, allowing the OP to decide what is best for him.

You're comparing apples to oranges in trying to draw a parallel between my situation and that of the OP. I was dissatisfied with my Citi SL, but my profile wasn't going to change at all in the next 6 months. It's been over a year since I obtained that card and my profile today is identically strong to the one I possessed at the time of that app. There would have been zero reason at all for me to wait on that app and it would have provided no additional benefit. The OP on the other hand himself above has stated multiple ways that his profile will strengthen (and of course his scores to go along with it) over the course of 6 months, so for him it would make perfect sense to hold off in order to achieve a more favorable result rather than just a possible "foot in the door."

I simply take a more conservative approach to apping. I started a thread on this very topic coming up on 2 years ago now and my take on it today is the same as it was then. I completely get it that others may be a bit more aggressive in their approch.

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Should-I-app-for-Would-I-get-approved-for-threads/td-p/4798104

Re: Citi DC chances

Caught750 — Sat, 28 Jul 2018 07:21:23 GMT

I appreciate the arguments both for and against. There are multiple benefits to this card. For some a foot in the door would suffice. I am not against growing a card. For others a solid limit would be more beneficial. I'm in no rush to apply today. In mid to late October I will be well across several thresholds that would likely benefit me. Over a year of current revolving history, no new accounts or HPs at that point in 6 months (reporting yet at least), and higher limits to hopefully get a slightly higher one from Citi. My scores will also be higher. That said, I have looked at the "other" page and my scores are well within the average that are approved. I've seen scores significantly lower get solid approvals there.

Re: Citi DC chances

Anonymous — Sat, 28 Jul 2018 07:41:37 GMT

Smart move IMO waiting 6 months or through October at least before apping, as you've correctly determined that your profile will be in a noticeably better place at that time.

Re: Citi DC chances

Caught750 — Sat, 28 Jul 2018 07:55:49 GMT

I have no experience with Citi. While I had no intention of starting an argument I appreciate the info that came of it. Would I likely get approved now, yes even if it needed recon. Would it likely be the best fit for everything I'm looking for, no. The card benefits me at any limit but a limit that allows some room for the 18 months at 0% (for a month or two at most with a low utilization %) is more beneficial.

Re: Citi DC chances

Gmood1 — Sat, 28 Jul 2018 10:05:30 GMT

Oh there's no argument. My point was lower your expectations with the Citi DC on the SL.

No matter if you app now or a year from now. The SLs aren't huge on average.

Look at it as " a foot in the door ". In a year, if they hand you a $2k limit. Be prepared to go another year before it starts to grow.

If you're looking for a higher SL out the gate for BTs or long term financing..look elsewhere.

That's how they get you. They offer one of the longest 0% terms. But they make sure you don't tie too much of their money up while it's in affect.😉

Good luck and don't spend too much time in the shower, if it doesn't go as planned.😆

Re: Citi DC chances

Caught750 — Sat, 28 Jul 2018 10:10:53 GMT

Lol thanks gmood. I'm undecided with Citi, if it was Chase or Disco I might be a bit upset but Citi I could take or leave. I like the card and the 18 months but I have a few apps that'll go out at the same time with slightly shorter offers. Major life changes coming up early next year so some extra wiggle room would be great! Thanks for all the advice. It seems citi can be bipolar and hand out $5k SLs one month then back to $500 the next. Hoping for a good month but time will tell.

Re: Citi DC chances

CreditInspired — Sun, 29 Jul 2018 00:20:23 GMT

Good info here but just want to give my DPs for the Citi DC.

Opened 12/2016 with $2K CL with 705-715 FICO scores. I also opened DiscoIT and ChaseFU at the same time.

DC CLIs:
$1,300 in 3/2017
$1,500 in 9/2017
$1,500 in 3/2018

CL now at $6,300

Barely put any purchases on it but I did use their checks twice and paid off way before the 0% promotion ended.

Every CLI I received I asked for — none was auto, they were all SPs, and instant approvals.

Re: Citi DC chances

Caught750 — Sun, 29 Jul 2018 00:22:45 GMT

Thanks for the DPs. I should have similar scores with solid income when I do apply so I'm hoping for a similar approval!

Re: Citi DC chances

Anonymous — Sun, 29 Jul 2018 01:32:27 GMT

@Gmood1Oh there's no argument. My point was lower your expectations with the Citi DC on the SL.
No matter if you app now or a year from now. The SLs aren't huge on average.
Look at it as " a foot in the door ". In a year, if they hand you a $2k limit. Be prepared to go another year before it starts to grow.
If you're looking for a higher SL out the gate for BTs or long term financing..look elsewhere.

It's also worth noting here that this discussion needs to be based around the situation [profile] of the OP. In his case, the SL may be quite secondary to even being approved for the product in the first place. When that's even a consideration, it's usually most wise to wait it out, especially if you believe that in (say) 6 months you're profile will be stronger and your chances of a more favorable will increase.