topic Re: Citi CLI Question & an INQ question in Credit Cards

Citi CLI Question & an INQ question

Anonymous — Mon, 09 Nov 2015 00:13:14 GMT

Hello all,

I was recently approved for $2100 citi simplicity and thought that was perfect as $800 was the amount I was wanting to xfer. We did some reconfiguring and found that if I could actually transfer a bit more (from cards with deferred payments) that I would be in A+ shape with the new expenses that have come up - some expected, some emergency and unexpected.

I read some about people getting Citi CLI upon activation - I'm hoping for double - about 4200, so my UTIL doesn't go out of whack but if they will counter I'll ask for 4500.

Do you have to have the card to ask? Also, do you call or do it online?

As for my INQ question - I know INQ lose their punch at 6 months - is that like 2/1/15 to 8/1/15 or 183 days from 2/1/15?

Thanks so much.

Re: Citi CLI Question & an INQ question

Anonymous — Mon, 09 Nov 2015 01:45:51 GMT

What are your scores and what other cards do you have and their limits? What is your current utilization?

How much would you like to BT?

Re: Citi CLI Question & an INQ question

Anonymous — Mon, 09 Nov 2015 01:58:08 GMT

EX 717

4% UTIL (includes big limit store cards with no balance)

debt $2800 (which includes 600 on a $6k macy's card and 150 on a $5k amazon) ---

NOT INCLUDED: about $600 on store cards thats deferred that is not counted here that will hit around Dec/Jan

bank cards:

venture 5k, Amex 2500, QS 1300, BOA 800, Credit Union 2500, discover secured 300

AU 12k USAA w/ 68$ balance

AAOA .8 yrs

INQs depends on if they lose power at 6 months or 180-183 days (anyone know?)

Want to transfer 2k up to $2600 depending on limit given

Thinking of asking for 4200 to 4500. Was given 2100 on approval. Willing to take the 50% util hit but not 90%.

Re: Citi CLI Question & an INQ question

Anonymous — Mon, 09 Nov 2015 02:17:47 GMT

@Anonymous wrote:
EX 717

4% UTIL (includes big limit store cards with no balance)

debt $2800 (which includes 600 on a $6k macy's card and 150 on a $5k amazon) ---

NOT INCLUDED: about $600 on store cards thats deferred that is not counted here that will hit around Dec/Jan

bank cards:

venture 5k, Amex 2500, QS 1300, BOA 800, Credit Union 2500, discover secured 300

AU 12k USAA w/ 68$ balance

AAOA .8 yrs

INQs depends on if they lose power at 6 months or 180-183 days (anyone know?)

Want to transfer 2k up to $2600 depending on limit given

Thinking of asking for 4200 to 4500. Was given 2100 on approval. Willing to take the 50% util hit but not 90%.

Inquiries don't lose their 'punch' at 6 months. They affect your Fivo scores for one year and remain on file for 2 years. Also if you ask for a CLI at activation, you will get another inquiry. You have to have activated the card and you can either call or do it online.

Re: Citi CLI Question & an INQ question

Anonymous — Mon, 09 Nov 2015 02:29:05 GMT

Keep in mind with the 3% BT fee thst would be an extra $78 in fees. You could try calling them but you only have 1 non au account with a $5000 limit and you probably just squeaked by on the approval. I recently got in with Citibank with scores similar to yours on Ex and Eq.

Your aaoa not long. Don't think they will increase the limit.

You may be better off apping for another 0 interest card or just planning to pay down some store cards over the next 3 months.

Also you could safely put about $1400 as a BT on the card. A minor hit in score but no biggie.One card at 60-75% if your overall utilization is under 15% won't hurt too badly, but I would pay back $200-$250 a month on it so you're showing a good payment history and dropping that cards utilization quickly.

Re: Citi CLI Question & an INQ question

kdm31091 — Mon, 09 Nov 2015 02:26:51 GMT

I too don't understand the "inquiries lose their power after 6 months" thing. Yes, they tend to impact your score less as time goes on, but they are still there. They remain for 2 years to show credit seeking for 2 years. If they were irrelevant after 6 months, then they'd drop off at 6 months.

Re: Citi CLI Question & an INQ question

Anonymous — Mon, 09 Nov 2015 02:32:03 GMT

@kdm31091 wrote:
I too don't understand the "inquiries lose their power after 6 months" thing. Yes, they tend to impact your score less as time goes on, but they are still there. They remain for 2 years to show credit seeking for 2 years. If they were irrelevant after 6 months, then they'd drop off at 6 months.

Just as you said though the computer does not factor them into your scores very much if at all after that period if time. They show upon manual review, but that's all.

Re: Citi CLI Question & an INQ question

Anonymous — Mon, 09 Nov 2015 04:09:09 GMT

@Anonymous wrote:
@kdm31091 wrote:
I too don't understand the "inquiries lose their power after 6 months" thing. Yes, they tend to impact your score less as time goes on, but they are still there. They remain for 2 years to show credit seeking for 2 years. If they were irrelevant after 6 months, then they'd drop off at 6 months.
Just as you said though the computer does not factor them into your scores very much if at all after that period if time. They show upon manual review, but that's all.

Swampy, Fico does factor them into scores for the entire year, not 6 months. Also, it's not that they only show upon manual review. When you apply for a credit card, the computer know how many inquiries you have for the last 2 years. The only change after 1 year is in terms of Fico score but definitely affect approvals for those entire 2 years.

Re: Citi CLI Question & an INQ question

Anonymous — Mon, 09 Nov 2015 02:41:03 GMT

Sorry about the inquiry confusion. From reading these boards I thought there was a set amount of power an INQ lost after 6 now. So clearly I am backwards on that. Yes I know the 1 one year 2 year thing. But to someone who said "if they lost power at 6 months why wouldn't they fall off at 6 months?" They don't fall off after a year either. I know they are still relevant.

So my understanding was poor. I know that now.
I am able to make decent size payments each month. More than $200-$250, would just like to get a few more things off interest bearing cards.

So I prob won't get the increase but I am going to try. Will they counter?

Re: Citi CLI Question & an INQ question

Anonymous — Mon, 09 Nov 2015 02:42:06 GMT

Also mobile now so sorry for errors, etc

Re: Citi CLI Question & an INQ question

Anonymous — Mon, 09 Nov 2015 02:43:06 GMT

@Anonymous wrote:
Sorry about the inquiry confusion. From reading these boards I thought there was a set amount of power an INQ lost after 6 now. So clearly I am backwards on that. Yes I know the 1 one year 2 year thing. But to someone who said "if they lost power at 6 months why wouldn't they fall off at 6 months?" They don't fall off after a year either. I know they are still relevant.

So my understanding was poor. I know that now.
I am able to make decent size payments each month. More than $200-$250, would just like to get a few more things off interest bearing cards.

So I prob won't get the increase but I am going to try. Will they counter?

Yes they will counter so ask for a lot more than you really expect to get

Re: Citi CLI Question & an INQ question

takeshi74 — Mon, 09 Nov 2015 13:49:23 GMT

@Anonymous wrote:
From reading these boards I thought there was a set amount of power an INQ lost after 6 now.

Don't assume a fixed impact for any factor. It's not just the change that matters but one's credit profile as well. One inquiry can have more impact for those with thin and/or poor credit profiles versus those with thicker, well established profiles in good standing.