topic Re: Secured Citi card to Unsecured.. in Credit Cards

Secured Citi card to Unsecured..

Anonymous — Mon, 15 Jun 2015 08:05:46 GMT

Two days ago I received an alert stating CBNA placed a hard credit inquery onto my credit profile. I realized oh,my secured card is coming up to its maturity date of 18 monthes.

After paying on time,sometimes multiple times per month I have finally reached a goal of getting aN unsecured card. However,capital one has already given me a quicksilver with a 2500 limit,and a 300 dollar raise to my partial secured card for free.

Anyways, my main question is this; According to Citi, my money will be refunded,and an unsecured card will be mailed to me. I wasn't told which card I would be getting,but I was told that after receiving an unsecured card from citi,I can then apply for a "card upgrade" without a hard inquery.

Just wondering what I am going to get for my first unsecured card,I'm really excited,it will probably come with a 500 dollar limit too lol

Re: Secured Citi card to Unsecured..

Anonymous — Mon, 15 Jun 2015 12:02:31 GMT

Grat's ongoing unsecured! Feels really good ... as to what card several posters can offer their experiences for you. Having been with Citi Cards for over six years I found for myself they are conservative on credit limits and love HPs for increases (not always none of mine were). You may have to give them a shove now and then. Many folks have done well by recon and through the EO. Food for thought as you build your Citi relationship.

Re: Secured Citi card to Unsecured..

sjt — Mon, 15 Jun 2015 16:06:35 GMT

@Anonymous wrote:
Two days ago I received an alert stating CBNA placed a hard credit inquery onto my credit profile. I realized oh,my secured card is coming up to its maturity date of 18 monthes.

After paying on time,sometimes multiple times per month I have finally reached a goal of getting aN unsecured card. However,capital one has already given me a quicksilver with a 2500 limit,and a 300 dollar raise to my partial secured card for free.

Anyways, my main question is this; According to Citi, my money will be refunded,and an unsecured card will be mailed to me. I wasn't told which card I would be getting,but I was told that after receiving an unsecured card from citi,I can then apply for a "card upgrade" without a hard inquery.

Just wondering what I am going to get for my first unsecured card,I'm really excited,it will probably come with a 500 dollar limit too lol

Congrats on the graduation.

FYI, they may send you a new card, but internally they convert your card from secured to unsecured as opposed to closing your secured card and opening a new unsecured account, which is good.

Re: Secured Citi card to Unsecured..

Anonymous — Mon, 15 Jun 2015 21:10:21 GMT

@Anonymous wrote:
Two days ago I received an alert stating CBNA placed a hard credit inquery onto my credit profile. I realized oh,my secured card is coming up to its maturity date of 18 monthes.

After paying on time,sometimes multiple times per month I have finally reached a goal of getting aN unsecured card. However,capital one has already given me a quicksilver with a 2500 limit,and a 300 dollar raise to my partial secured card for free.

Anyways, my main question is this; According to Citi, my money will be refunded,and an unsecured card will be mailed to me. I wasn't told which card I would be getting,but I was told that after receiving an unsecured card from citi,I can then apply for a "card upgrade" without a hard inquery.

Just wondering what I am going to get for my first unsecured card,I'm really excited,it will probably come with a 500 dollar limit too lol

I have this card as well. Let us know what kind of Citi Card they send you in the mail! Congrats

Re: Secured Citi card to Unsecured..

Anonymous — Tue, 16 Jun 2015 09:53:19 GMT

Thanks for the replies you guys Well,I just called because the official letter came today telling me about how's it being unsecured. I love how it says the APR and the AF will remain the same.

I called citi bank and was told that it will likely be the Citi Silver card,looked it up,but didn't find it on the US citi card site,only middle eastern and Asian countries showed that card being available.

I'm dying to know,I hope I get a decent card with at least some kind of rewards.The account matures on July 21st,so as soon as I find out what card I will let you guys know.

Re: Secured Citi card to Unsecured..

sjt — Tue, 16 Jun 2015 16:05:39 GMT

@Anonymous wrote:
Thanks for the replies you guys Well,I just called because the official letter came today telling me about how's it being unsecured. I love how it says the APR and the AF will remain the same.

I called citi bank and was told that it will likely be the Citi Silver card,looked it up,but didn't find it on the US citi card site,only middle eastern and Asian countries showed that card being available.

I'm dying to know,I hope I get a decent card with at least some kind of rewards.The account matures on July 21st,so as soon as I find out what card I will let you guys know.

I would wait until you actually get your card and see what they gave you. Then call to see if you can do a product change. You might have to wait at least 6 months but at least your in the door with Citibank. Also, the card will be reported as an unsecured from the time you opened up your secured card.

Re: Secured Citi card to Unsecured..

Anonymous — Wed, 17 Jun 2015 08:56:03 GMT

@sjt Yea I figured about 6 monthes too. Thanks for the info you guys,its greatly appreciated.

Re: Secured Citi card to Unsecured..

Anonymous — Wed, 17 Jun 2015 08:59:33 GMT

Congrats on your new Citi card! I would check out some of their cards and see which one you would use the most.

Re: Secured Citi card to Unsecured..

Anonymous — Wed, 17 Jun 2015 10:04:09 GMT

@Anonymous wrote:
Two days ago I received an alert stating CBNA placed a hard credit inquery onto my credit profile. I realized oh,my secured card is coming up to its maturity date of 18 monthes.

wait, are you saying that Citi does a hard pull on your credit report when they convert from secured to unsecured? i would assumed that it would be a soft pull.

Re: Secured Citi card to Unsecured..

Anonymous — Wed, 17 Jun 2015 11:54:49 GMT

@FG2 You heard correct. They did a hard pull,and at first I thought it was fraud,so,I called citibank,they said no hard pull had been initiated,was told to call transunion. I called TU the next morning,TU confirmed it was placed on my profile,and was advised if citibank didnt recieve my authorization to perform a hard pull,I was to call them back lol..

Near the end of the call with TU,I was then advised to go to my local police department and file a police report.I didnt actually file a report since I finally got into contact with the right person at citi and advised they performed the hard pull because of my CD coming up on its maturity.I am debating weather or not I should contest this hard inquery,because on one hand I am getting an unsecured card,but on the other,I dont remember reading in the disclosure about them initiating and hard pull when the CD matures.

I bet its buried somewhere deep in the disclosure that most of dont read. I have worked hard to avoid all credit since I began building my credit,while this is not a major hit,its not something I expected to happen.I have 3 hard inqueries coming off next month so its should ok.

Re: Secured Citi card to Unsecured..

Anonymous — Wed, 17 Jun 2015 11:59:13 GMT

Also would like to mention,they only pulled TU for me.Whats another funny thing is,the guy who does the credit card stuff at my local branch preached to me how I needed to have a 680 or better fico score before it matured,otherwise they wouldnt graduate my card.Well,according to fico I have a 609 credit score,as for the specific formula for credit cards,fico scores me at 621.

Re: Secured Citi card to Unsecured..

Anonymous — Wed, 17 Jun 2015 12:02:58 GMT

if tha'ts the case then i'm assuming they applied you for an unsecured card? or if not then, do you lose the history on the account? i would hope that you don't lose your AAoA.

Re: Secured Citi card to Unsecured..

Anonymous — Thu, 18 Jun 2015 04:47:07 GMT

I dont believe any history is lost after the switch,rather,only the type of card is being updated(reporting as secured/unsecured),along with the credit limit,which I would assume will be super low lol.