topic Re: Citi secured CLI? in Credit Cards

Citi secured CLI?

Creditdreamer — Wed, 28 Oct 2015 21:31:27 GMT

I am interested in applying for the Citi secured MasterCard to get in with a prime lender. However, I don't have a lot of extra money sitting around right now to make my limit where I want it to be.

Has anyone had any luck increasing their limits after they receive the card, within the 18 month secured timeframe? I'd be fine having the CL be completely secured. But I would like to start the clock on my 18 months as soon as possible. The Discover it secured allows people to add secured funds later to increase the credit limit but I haven't seen anything about this from Citi.

Anyone know? Thanks!

Re: Citi secured CLI?

taxi818 — Wed, 28 Oct 2015 22:23:05 GMT

@Creditdreamer wrote:
I am interested in applying for the Citi secured MasterCard to get in with a prime lender. However, I don't have a lot of extra money sitting around right now to make my limit where I want it to be.

Has anyone had any luck increasing their limits after they receive the card, within the 18 month secured timeframe? I'd be fine having the CL be completely secured. But I would like to start the clock on my 18 months as soon as possible. The Discover it secured allows people to add secured funds later to increase the credit limit but I haven't seen anything about this from Citi.

Anyone know? Thanks!

Honestly. Getting secured should be with any lender to increase score. Does not matter with who. As scores increase prime lender will come. I would never want a card to have a name on it. It needs to have some meat on the card. Limit I can do something with. Anyway. Most lenders allow you to add money even if secured. As long as you want go increase. Kind of A waste I imo. I started secured with 50 dollars cap one. 200 card. Within 6 months had 30k unsecured. In a year and a half. 100k unsecured. Whatever route you take. The key is paying. Using. Wash riinse and repeat.

Re: Citi secured CLI?

Creditdreamer — Wed, 28 Oct 2015 22:46:05 GMT

@taxi818 wrote:
@Creditdreamer wrote:
I am interested in applying for the Citi secured MasterCard to get in with a prime lender. However, I don't have a lot of extra money sitting around right now to make my limit where I want it to be.

Has anyone had any luck increasing their limits after they receive the card, within the 18 month secured timeframe? I'd be fine having the CL be completely secured. But I would like to start the clock on my 18 months as soon as possible. The Discover it secured allows people to add secured funds later to increase the credit limit but I haven't seen anything about this from Citi.

Anyone know? Thanks!
Honestly. Getting secured should be with any lender to increase score. Does not matter with who. As scores increase prime lender will come. I would never want a card to have a name on it. It needs to have some meat on the card. Limit I can do something with. Anyway. Most lenders allow you to add money even if secured. As long as you want go increase. Kind of A waste I imo. I started secured with 50 dollars cap one. 200 card. Within 6 months had 30k unsecured. In a year and a half. 100k unsecured. Whatever route you take. The key is paying. Using. Wash riinse and repeat.

I'm sure you were probably in a different situation than I am though. I have past charge offs, etc. I used my original secured cards (back in 2011) just fine and my scores did not increase by much (see my siggy). However, I'm much farther away from those baddies right now. In my mind it makes more sense to "pay" to get a higher credit limit (through having a high limit secured card) than play the waiting game on a $300 unsecured card and hoping for a couple hundred dollar credit limit every 6 months. Maybe that's just me though. Untill my baddies fall off, low level unsecured and secured are all I can hope for. I'm just trying to get in with the prime lenders because then it should be easier to work my way up from there. I just want to have two-three cards with prime lenders that have medium limits and will unsecure within a year or so, and don't have high annual fees like my really low level unsecured cards currently do.

Re: Citi secured CLI?

CH-7-Mission-Accomplished — Wed, 28 Oct 2015 22:47:58 GMT

I'm pretty sure you can't add to this account once opened because it is an 18 month CD. So it is for a fixed amount for a fixed term.

For those of us with BK's on our report, the only way in with Citibank is through the secured card. Without it, it is an automatic decline until 7 years have passed.

Since I burned BofA, I am also going this route to get in with them.

I want Citi and BofA because I want Citi's American Airlines bonuses and cards and I want an Alaska Air card from BofA, plus their cash back card.

So everyone has their reasons ... but you are right Taxi, in terms of scoring.

Re: Citi secured CLI?

Creditdreamer — Wed, 28 Oct 2015 22:51:25 GMT

@CH-7-Mission-Accomplished wrote:
I'm pretty sure you can't add to this account once opened because it is an 18 month CD. So it is for a fixed amount for a fixed term.

For those of us with BK's on our report, the only way in with Citibank is through the secured card. Without it, it is an automatic decline until 7 years have passed.

Since I burned BofA, I am also going this route to get in with them.

I want Citi and BofA because I want Citi's American Airlines bonuses and cards and I want an Alaska Air card from BofA, plus their cash back card.

So everyone has their reasons ... but you are right Taxi, in terms of scoring.

I burned Citi. They might not even let me have their secured card. Who knows. I just didn't want to apply for it and be stuck with a $200 limit. So maybe I'll just wait a while and see what happens or try to save up a bit more and then do it.

Re: Citi secured CLI?

taxi818 — Wed, 28 Oct 2015 23:05:10 GMT

Well we all have different situations of course. i did start with a charge off. it was already 6plus years old. and a collecton that was 5 years old. Both removed. citi still was very elusive to be honest. until i stopped applying. Got the Best buy mastercard first to get in door. after a year the double cash. But secured does not really mean low limits. even with the low lmits. my secured only grew as you said a few hundred dollars. But the doors that were opened from the secured is what i was talking about. after using the card a few months. the other lenders will come knocking for you then. and even with a BK i think you can get in with citi. just not sure when. i only have 1 friend with a bk and he has not tried citi. i know he had a hard time with chase as well. I didnt know it was a CD on the secured. as i read it was just a 200 dollar minimum to open.

Re: Citi secured CLI?

gibeon — Wed, 28 Oct 2015 23:20:21 GMT

Unfortunately, they killed the CD for the security deposit when they put the application online (and raised the interest rate).

Now they just put the deposit in a no-interest collateral holding account - which gives me hope for CLIs.

Because ita no longer a CD, I'm hoping they will allow CLIs - either additional deposits or "earned" through responsible usage.

I'll ask about it when I get mine in the mail in a week or so!

Re: Citi secured CLI?

Creditdreamer — Wed, 28 Oct 2015 23:22:39 GMT

@gibeon wrote:
Unfortunately, they killed the CD for the security deposit when they put the application online (and raised the interest rate).

Now they just put the deposit in a no-interest collateral holding account - which gives me hope for CLIs.

Because ita no longer a CD, I'm hoping they will allow CLIs - either additional deposits or "earned" through responsible usage.

I'll ask about it when I get mine in the mail in a week or so!

Please update when you do! I noticed it wasn't a CD anymore and figured the same thing. But the no CD thing is very recent. What starting deposit did you put on it?

Re: Citi secured CLI?

CH-7-Mission-Accomplished — Wed, 28 Oct 2015 23:22:54 GMT

@gibeon wrote:
Unfortunately, they killed the CD for the security deposit when they put the application online (and raised the interest rate).

Now they just put the deposit in a no-interest collateral holding account - which gives me hope for CLIs.

Because ita no longer a CD, I'm hoping they will allow CLIs - either additional deposits or "earned" through responsible usage.

I'll ask about it when I get mine in the mail in a week or so!

Please do update us. This is the next card I want to get. I would really like to make it a 3K limit, since Citi can be so cheap about giving limits on unsecured cards. But if I could make that 3K in three deposits, I could do it sooner.

Re: Citi secured CLI?

taxi818 — Wed, 28 Oct 2015 23:28:27 GMT

@gibeon wrote:
Unfortunately, they killed the CD for the security deposit when they put the application online (and raised the interest rate).

Now they just put the deposit in a no-interest collateral holding account - which gives me hope for CLIs.

Because ita no longer a CD, I'm hoping they will allow CLIs - either additional deposits or "earned" through responsible usage.

I'll ask about it when I get mine in the mail in a week or so!

This is exactly what i saw online. Regular secured application with no metion of a CD. high interest. 21.9% apr i believe. with a $25 AF. $200 minimum to open. Im sure you can add anytime you want to.

Re: Citi secured CLI?

Creditdreamer — Wed, 28 Oct 2015 23:29:04 GMT

@taxi818 wrote:
Well we all have different situations of course. i did start with a charge off. it was already 6plus years old. and a collecton that was 5 years old. Both removed. citi still was very elusive to be honest. until i stopped applying. Got the Best buy mastercard first to get in door. after a year the double cash. But secured does not really mean low limits. even with the low lmits. my secured only grew as you said a few hundred dollars. But the doors that were opened from the secured is what i was talking about. after using the card a few months. the other lenders will come knocking for you then. and even with a BK i think you can get in with citi. just not sure when. i only have 1 friend with a bk and he has not tried citi. i know he had a hard time with chase as well. I didnt know it was a CD on the secured. as i read it was just a 200 dollar minimum to open.

When I started my credit repair journey back in 2011, my charge-offs were only a little over a year old. So my score went up over time as they got older and my utilization was kept under control. Unfortunately I'm back to starting over basically because of some difficult financial times, and a lack of income for a while. I'm still not as low as I was in 2011, but I'm not high either. TU is running at 588 and EX is at 601. So lower than in 2012 but higher than 2011. I'm basically trying to try a different strategy this time so that I can theoretically have nicer cards. Example: got denied for Discover it card but they countered with the it Secured which I accepted. It's great as far as secured cards go. My plan is to step up the limit as I can for the next year-ish until the card unsecures. Most people have reported that when their cards graduate, they get the limit they had right before it graduated, but their deposit gets returned. Meaning I could get a regular it card with a $2500 limit in a year or so. Which otherwise would take me a lot longer to achieve because it just takes time and is a big waiting game. If I had the Discover and a Citi card, I'd be happy just sitting on those for a long while until my charge-offs fall off.

Re: Citi secured CLI?

taxi818 — Wed, 28 Oct 2015 23:32:32 GMT

@Creditdreamer wrote:
@taxi818 wrote:
Well we all have different situations of course. i did start with a charge off. it was already 6plus years old. and a collecton that was 5 years old. Both removed. citi still was very elusive to be honest. until i stopped applying. Got the Best buy mastercard first to get in door. after a year the double cash. But secured does not really mean low limits. even with the low lmits. my secured only grew as you said a few hundred dollars. But the doors that were opened from the secured is what i was talking about. after using the card a few months. the other lenders will come knocking for you then. and even with a BK i think you can get in with citi. just not sure when. i only have 1 friend with a bk and he has not tried citi. i know he had a hard time with chase as well. I didnt know it was a CD on the secured. as i read it was just a 200 dollar minimum to open.
When I started my credit repair journey back in 2011, my charge-offs were only a little over a year old. So my score went up over time as they got older and my utilization was kept under control. Unfortunately I'm back to starting over basically because of some difficult financial times, and a lack of income for a while. I'm still not as low as I was in 2011, but I'm not high either. TU is running at 588 and EX is at 601. So lower than in 2012 but higher than 2011. I'm basically trying to try a different strategy this time so that I can theoretically have nicer cards. Example: got denied for Discover it card but they countered with the it Secured which I accepted. It's great as far as secured cards go. My plan is to step up the limit as I can for the next year-ish until the card unsecures. Most people have reported that when their cards graduate, they get the limit they had right before it graduated, but their deposit gets returned. Meaning I could get a regular it card with a $2500 limit in a year or so. Which otherwise would take me a lot longer to achieve because it just takes time and is a big waiting game. If I had the Discover and a Citi card, I'd be happy just sitting on those for a long while until my charge-offs fall off.

Understood. But im guessing you are not trying to get to charge offs removed from your report altogether? that would be a big boost even if you could get 1 removed.

Re: Citi secured CLI?

Creditdreamer — Wed, 28 Oct 2015 23:39:15 GMT

@taxi818 wrote:
@Creditdreamer wrote:
@taxi818 wrote:
Well we all have different situations of course. i did start with a charge off. it was already 6plus years old. and a collecton that was 5 years old. Both removed. citi still was very elusive to be honest. until i stopped applying. Got the Best buy mastercard first to get in door. after a year the double cash. But secured does not really mean low limits. even with the low lmits. my secured only grew as you said a few hundred dollars. But the doors that were opened from the secured is what i was talking about. after using the card a few months. the other lenders will come knocking for you then. and even with a BK i think you can get in with citi. just not sure when. i only have 1 friend with a bk and he has not tried citi. i know he had a hard time with chase as well. I didnt know it was a CD on the secured. as i read it was just a 200 dollar minimum to open.
When I started my credit repair journey back in 2011, my charge-offs were only a little over a year old. So my score went up over time as they got older and my utilization was kept under control. Unfortunately I'm back to starting over basically because of some difficult financial times, and a lack of income for a while. I'm still not as low as I was in 2011, but I'm not high either. TU is running at 588 and EX is at 601. So lower than in 2012 but higher than 2011. I'm basically trying to try a different strategy this time so that I can theoretically have nicer cards. Example: got denied for Discover it card but they countered with the it Secured which I accepted. It's great as far as secured cards go. My plan is to step up the limit as I can for the next year-ish until the card unsecures. Most people have reported that when their cards graduate, they get the limit they had right before it graduated, but their deposit gets returned. Meaning I could get a regular it card with a $2500 limit in a year or so. Which otherwise would take me a lot longer to achieve because it just takes time and is a big waiting game. If I had the Discover and a Citi card, I'd be happy just sitting on those for a long while until my charge-offs fall off.
Understood. But im guessing you are not trying to get to charge offs removed from your report altogether? that would be a big boost even if you could get 1 removed.

I haven't been trying for that because of how much work it was before when I was trying. I felt like it took a lot of time and brain space (though I also tend to get obsessive and try to fix things even though I can't). So no, I haven't really been trying. That may be something I could work on. I just doubt it'll do much good since my charge-offs are mostly paid, or settled, already. Did you do anything with your charge-off(s)?

Re: Citi secured CLI?

CH-7-Mission-Accomplished — Wed, 28 Oct 2015 23:40:27 GMT

I just called the customer service number for Citi credit cards. The guy told me that they have no information in their system about the secured cards, that you must direct your questions to the branch. I pointed out that the card apps are now online whereas they used to have to be made in the branch. He said he knew this, but questions have to go to the branch, he has no information.

So we don't have any branches in Seattle.

Argh, I hate them already. I still want their rewards cards, but I consider myself forewarned that this will be a painful relationship.

Re: Citi secured CLI?

Creditdreamer — Wed, 28 Oct 2015 23:45:13 GMT

@CH-7-Mission-Accomplished wrote:
I just called the customer service number for Citi credit cards. The guy told me that they have no information in their system about the secured cards, that you must direct your questions to the branch. I pointed out that the card apps are now online whereas they used to have to be made in the branch. He said he knew this, but questions have to go to the branch, he has no information.

So we don't have any branches in Seattle.

Argh, I hate them already. I still want their rewards cards, but I consider myself forewarned that this will be a painful relationship.

This is how I feel too. I talked to applications and they said they couldn't tell me one thing about it. The lady gave me th pre-written speech before I could even say that I wasn't trying to apply over the phone. Then I talked to customer service and the girl didn't know what I was talking about and just said that you have to put in a request to be considered for a CLI, etc etc etc. They're like capital one except they answer the phone quicker than CapOne does. Discover has been absolutely amazing so far. Polite, friendly, easy to understand. I would recommend trying for their secured card. The rewards are awesome, especially for a secured card, and no annual fee.

Re: Citi secured CLI?

taxi818 — Wed, 28 Oct 2015 23:45:38 GMT

@CH-7-Mission-Accomplished wrote:
I just called the customer service number for Citi credit cards. The guy told me that they have no information in their system about the secured cards, that you must direct your questions to the branch. I pointed out that the card apps are now online whereas they used to have to be made in the branch. He said he knew this, but questions have to go to the branch, he has no information.

So we don't have any branches in Seattle.

Argh, I hate them already. I still want their rewards cards, but I consider myself forewarned that this will be a painful relationship.

Ch. I think two difrferent Depts. This is funny to say the least./

Re: Citi secured CLI?

morgacj2004 — Thu, 29 Oct 2015 00:58:51 GMT

I agree. I also want to get in with BofA and CITI as I want the AK Air Siggy and the CITI double cash. I have a BK from 2012 and this is the only way in. I believe CITI is pretty strict on waiting out the entire 18months prior to being elig for an unsecured product but I would urge others to chime in. BofA is somewhat more lenient and I have heard of others on this forum getting unsecured earlier than the 12 months. My Bof A is at 5mo and I will req to unsecure it in Januaray. Discover also offers a secured card. Good Luck!

Re: Citi secured CLI?

gibeon — Tue, 03 Nov 2015 02:55:35 GMT

Well, I got tired of waiting, and called in today to ask. I reached a very nice woman in India who had literally no idea what I was talking about. I don't think she knew what a secured card was, or that Citi had them.

I did happen to get my card in the mail when I got home tonight, so I will try calling the number on the back of the card again tomorrow.

The card does look quite a bit better in person than I was expecting. Also, I can't find a CLI link on the website, but I was surprised to see in the card's features, the following:

"Opportunity to Advance - We’ll review your payment history and credit profile within the first 18 months to see if you qualify for an unsecured account."

I'm not sure if that means it graduates, or they will just send me a mailer for something else when they actually like me, and I don't have to buy my way in.

Re: Citi secured CLI?

CH-7-Mission-Accomplished — Tue, 03 Nov 2015 03:07:56 GMT

I think people should make sure they open this card with a limit they would be happy to live with for 18 months. It might take that long for someone at Citi to answer the question.

Re: Citi secured CLI?

Creditdreamer — Tue, 03 Nov 2015 03:13:48 GMT

Has anyone tried calling the backdoor numbers? I'd like to not have to wait to save up the maximum credit limit. I really want to do what I'm doing with my discover it secured which is building my credit limit a bit at a time. Of course I haven't even gotten the card yet. I think I'll get it some time this week according to discover. I'm so excited, I can't even handle it.