topic Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards in Credit Cards

Question about applying for Citi Custom Cash and AOD Visa Signature cards

cws-21 — Fri, 11 Jun 2021 22:17:42 GMT

As the title suggests, I am considering applying for the Citi Custom Cash and/or the AOD Visa Signature and a have a few questions that I hope you folks can help me out with. I realize there are other approval criteria, but, specifically, how many inquiries or new accounts should I be under for each application? Do issuers look at hard inquiries and new accounts separately? Also, how are inquiries for an auto loan treated? Thank you in advance and enjoy the weekend.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

Beast26 — Fri, 11 Jun 2021 23:15:40 GMT

I'm interested to know as well but Ive seen and asked this twice and seen others ask but people are dodging it like the matrix! 87 views here and still not one answer.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

KatSoDak — Sat, 12 Jun 2021 01:13:53 GMT

Kind of embarrassing that I can answer this question. My last app for the US Bank Cash Plus was ABSOLUTELY going to be the final card this year. Then this card came on my radar. I really need to ignore the approvals section of MyFico.

Anyway, the DPs I can give on the Citi Custom Cash:

Currently have a Citi Simplicity card about 2 years old. 0 balance. $15,300 SL. Regular CLIs upon request about every 6 months. Used for BTs but none currently.

EX 5 (now 6) all in 2021

EQ 2 (now 3 as this was a Double pull)

TU 0

2 new cards in 2021. This Citi card makes 3. First one this year was in March. Then May and now June.

Instant approval for $5,300 @ 13.9 APR.

Edit: Citi surprised me with the approval on the Experian pull with 5 precious ( edit ha ha previous not precious) inquiries. I was expecting an EQ pull which is what they've used for my CLIs. Someone on Reddit had quite a few inquiries too if IRC so maybe Citi is a bit lax on this one.

@cws-21 wrote:
As the title suggests, I am considering applying for the Citi Custom Cash and/or the AOD Visa Signature and a have a few questions that I hope you folks can help me out with. I realize there are other approval criteria, but, specifically, how many inquiries or new accounts should I be under for each application? Do issuers look at hard inquiries and new accounts separately? Also, how are inquiries for an auto loan treated? Thank you in advance and enjoy the weekend.

Scores in sig are current and correct.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

mumbogray — Sat, 12 Jun 2021 00:31:21 GMT

@cws-21 wrote:
As the title suggests, I am considering applying for the Citi Custom Cash and/or the AOD Visa Signature and a have a few questions that I hope you folks can help me out with. I realize there are other approval criteria, but, specifically, how many inquiries or new accounts should I be under for each application? Do issuers look at hard inquiries and new accounts separately? Also, how are inquiries for an auto loan treated? Thank you in advance and enjoy the weekend.

For me in the northeast, Citi pulled EQ and EX. I was 0/6 0/12 1/24. AOD pulled EQ. and I was 2/6 2/12 5/24. FICO for both was prob around 720 ( although AOD pulls fico4 which was 20-30 points lower than my fico8). Based on my experience, I would apply for Citi first as they seem to care more about the HPs. I had a 1-1.5 year old car loan when I applied for AOD, they cared about that and student loans in terms of DTI.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

cws-21 — Sat, 12 Jun 2021 02:17:39 GMT

Thank you for the replies thus far. They're much appreciated. When one indicates x/6, x/12, and x/24, are they hard pulls in general? More specifically, I applied for a car loan last summer and I had multiple inquiries on the same day from different banks. Do they each count the same as if I would have applied for a credit card?

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

Anonymous — Sat, 12 Jun 2021 02:32:34 GMT

They pulled EQ only for me. Instant denial. At time of pull I was:

Inquiries - 0/12, 0/24 (TU 1/12, 2/24 / EX 2/12, 3/24)

New Accounts - 3/12, 4/24

FICO 8 - 814
FICO Bankcard 8 - 827

Top 2 reasons listed were no recent installment loan and too many/too new accounts.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

cws-21 — Sat, 12 Jun 2021 02:37:55 GMT

Sorry for the denial, but thanks for the DPs. Hopefully the good karma will improve your odds

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

KLEXH25 — Sat, 12 Jun 2021 02:38:43 GMT

@cws-21 wrote:
Thank you for the replies thus far. They're much appreciated. When one indicates x/6, x/12, and x/24, are they hard pulls in general? More specifically, I applied for a car loan last summer and I had multiple inquiries on the same day from different banks. Do they each count the same as if I would have applied for a credit card?

I believe the X/6, X/12, etc is referring to accounts (not inquiries), just as Chase's 5/24. As for whether those auto loan inquiries will count against you, in theory they shouldn't. However, it's always possible an algorithm may not differentiate the difference between the types of inquiries. For what it's worth, I got my original auto loan in Oct 2018, which resulted in a ton of inquiries. I gardened until the following June (2019) and applied for my Citi Costco & PPMC within a couple of days of each other and I had no issues.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

Yasselife — Sat, 12 Jun 2021 02:45:10 GMT

Is waiting 6 months a good time for a new application? I added 1 installment last month and 2 new inquiries; that's all I've got this year. 3 accounts total in 24 months.
do I have a chance for this card? Fico mid 700s. AoAA 3.5 yrs, clean

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

cws-21 — Sat, 12 Jun 2021 02:45:58 GMT

Thanks for the clarification. Hopefully others can confirm that new inquiries are treated differently than new accounts and that auto loans are treated differently than credit card apps.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

mumbogray — Sat, 12 Jun 2021 02:58:01 GMT

@cws-21 wrote:
Thank you for the replies thus far. They're much appreciated. When one indicates x/6, x/12, and x/24, are they hard pulls in general? More specifically, I applied for a car loan last summer and I had multiple inquiries on the same day from different banks. Do they each count the same as if I would have applied for a credit card?

Accounts. I believe the way it is supposed to work is, Fico groups the inquiries as if it was 1 HP for scoring purposes..but the HPs will still show up separately on your report. If you look up grouping multiple auto inquiries, you should find some articles. The benefits are probably minimal at best. HPs might still count against you in an automatic decision, but can be explained in manual review/calling in.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

KLEXH25 — Sat, 12 Jun 2021 03:08:23 GMT

@Yasselife wrote:
Is waiting 6 months a good time for a new application? I added 1 installment last month and 2 new inquiries; that's all I've got this year. 3 accounts total in 24 months.
do I have a chance for this card? Fico mid 700s. AoAA 3.5 yrs, clean

I think you stand a good chance to apply even now, but six months is usually a safe amount of time to wait between applications.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

cws-21 — Sat, 12 Jun 2021 03:18:17 GMT

Thanks for the information. I thought auto loan inquiries were treated differently that new credit card accounts, but I wasn't sure.

Question about AOD Visa Signature Card and income

cws-21 — Sat, 12 Jun 2021 03:39:24 GMT

I am back to seriously considering applying for the AOD Visa Signature Card like many others who do not already have it. Regarding income, how does AOD determine one's regular pay? I ask because I have my regular salary, but receive additional pay for approximately 7 months out of the year from my primary employer and I have pay, again for about 7 months of the year, from another employer as well. For regular pay, are pay stubs used? Tax forms? How do they separate my regular pay from my additional pay? I hope I am making myself clear and someone(s) can help me sort this out.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

Remedios — Sat, 12 Jun 2021 04:12:16 GMT

@cws-21 wrote:
Thanks for the information. I thought auto loan inquiries were treated differently that new credit card accounts, but I wasn't sure.

For scoring purposes only, and only if binned within certain period of time (time period depends on scoring model)

To a computer, HP is HP. It doesn't care what it's purpose was, since regardless of the purpose, someone was seeking credit for something.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

cws-21 — Sat, 12 Jun 2021 04:26:07 GMT

Thank you for the reply. So, should I assume Citi will count each auto loan inquiry made on the same day from different banks just as they would for separate credit card inquiries?

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

FinStar — Sat, 12 Jun 2021 04:29:43 GMT

@cws-21 wrote:
Thank you for the reply. So, should I assume Citi will count each auto loan inquiry made on the same day from different banks just as they would for separate credit card inquiries?

Yes. They will count each one separately.

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

cws-21 — Sat, 12 Jun 2021 04:37:34 GMT

Ugh, that means I should be fine for two of the three bureaus. However, there's no guarantee or even fair probability which bureau Citi will pull, correct? Thanks for the reply!

Re: Question about applying for Citi Custom Cash and AOD Visa Signature cards

KLEXH25 — Sat, 12 Jun 2021 04:45:48 GMT

@cws-21 wrote:
Ugh, that means I should be fine for two of the three bureaus. However, there's no guarantee or even fair probability which bureau Citi will pull, correct? Thanks for the reply!

DPs suggest that they may pull two CBs anyway. But are they really that inquiry sensitive? I'd be more worried about accounts. At least the inquiries can be explained during a recon, if necessary.

Re: Question about AOD Visa Signature Card and income

Anonymous — Sat, 12 Jun 2021 04:50:34 GMT

@cws-21 wrote:
I am back to seriously considering applying for the AOD Visa Signature Card like many others who do not already have it. Regarding income, how does AOD determine one's regular pay? I ask because I have my regular salary, but receive additional pay for approximately 7 months out of the year from my primary employer and I have pay, again for about 7 months of the year, from another employer as well. For regular pay, are pay stubs used? Tax forms? How do they separate my regular pay from my additional pay? I hope I am making myself clear and someone(s) can help me sort this out.

Best to assume they won't count that extra income at all from reports here.