topic Re: CitiCards Multiple Inquiries in Credit Cards

CitiCards Multiple Inquiries

lovely222 — Tue, 14 Dec 2010 20:32:32 GMT

I think I just did something silly and I'm wondering how much it will effect my credit score. I already have a CitiCard with a 10k limit. They increased it twice this with hard pulls to EX. I wanted to increase my util so I applied and was approved for the Citi Platinum Select MasterCard with a limit of 6k last week. However, today I got greedy and was booking a trip on Expedia and saw that they were offering $100 off the price of the vacation with the Citi Expedia card so I foolishly applied for it and got the 7-10 day message. Just wondering what all of these inquiries will mean for my score, I have a total of 6 on EX - 4 from Expedia (2 from CLI requests and 2 from new accounts - all from this year). Also, does the 7-10 day message mean I was denied?

Thanks!

Re: CitiCards Multiple Inquiries

Anonymous — Tue, 14 Dec 2010 21:01:14 GMT

I would never personally apply for more than 1 CC from any bank within a six month period. The only exception is unless you applied and were not approved for a new account. My first instinct is not likely approved.

Re: CitiCards Multiple Inquiries

lovely222 — Tue, 14 Dec 2010 21:05:16 GMT

That's what I figured. Will this foolish action have huge consequences to my score? Now I have to wait until 2012 for all this crap to fall off. Boo.

Re: CitiCards Multiple Inquiries

Anonymous — Tue, 14 Dec 2010 21:17:52 GMT

Not likely. After so many inquiries it stops affecting your fico score. Usually it is around the 5 or 6 mark. If the pull was from EX it will be hard to tell since there are few ways to see your real experian score. I wouldn't sweat it or lose sleep over this but I would avoid any other new applications that strictly pull EX in the future if I was you.

Re: CitiCards Multiple Inquiries

lovely222 — Tue, 14 Dec 2010 21:19:31 GMT

I just hate being rejected. Oh well, I am done app'ing for at least a year. I wonder if this will affect the auto CLIs on my two current Citi Cards? They might think I'm desperate for credit which I'm really not. I have about 20K available.

Re: CitiCards Multiple Inquiries

haulingthescoreup — Tue, 14 Dec 2010 22:20:41 GMT

If you haven't had anything else change on your reports (increasing balances, etc), I think you'll be OK. And while I wouldn't want to have all or most of my cards from one bank, it's fine to have multiple cards, as long as you have some from different banks in case this one goes nutso. (The all-your-eggs-in-one-basket scenario.)

It's possible to overthink this stuff.

Re: CitiCards Multiple Inquiries

lovely222 — Tue, 14 Dec 2010 22:29:05 GMT

Okay, whew. No real changes outside of the new card. Util is pretty constant. I am like addicted to all of this credit stuff now. I'm always reading these forums and am finally participating! I have cards with other banks but Citi won me over with low interest rates and my highest CLs. I actually have 14 cards in total (including store cards). I'm a bit of an addict.

Re: CitiCards Multiple Inquiries

haulingthescoreup — Tue, 14 Dec 2010 22:30:53 GMT

@lovely222 wrote:
Okay, whew. No real changes outside of the new card. Util is pretty constant. I am like addicted to all of this credit stuff now. I'm always reading these forums and am finally participating! I have cards with other banks but Citi won me over with low interest rates and my highest CLs. I actually have 14 cards in total (including store cards). I'm a bit of an addict.

lol, slide over and make room for everyone else. Coffee's in the back.

Re: CitiCards Multiple Inquiries

lovely222 — Tue, 14 Dec 2010 22:32:54 GMT

Hahaha, duly noted. I'm trying to be like you when I grow up. 781 and 793! Sheesh. I'm about to go read all your posts! Haha. No, seriously.

Re: CitiCards Multiple Inquiries

haulingthescoreup — Tue, 14 Dec 2010 22:50:25 GMT

@lovely222 wrote:
Hahaha, duly noted. I'm trying to be like you when I grow up. 781 and 793! Sheesh. I'm about to go read all your posts! Haha. No, seriously.

All 27,451??

Although I guess this one makes 27,452.

OK, gotta go soak my hands again...

eta: I meant to add, a good 90% of them are things like "Way to go!", plus the never-ending posts about controlling reported util and FICO vs FAKO.

Re: CitiCards Multiple Inquiries

jefftca925 — Wed, 15 Dec 2010 01:43:21 GMT

I believe the only issue that Citibank has regarding applications is that you cannot submit more than two in a 60 day period. The system will usually decline it based on that rule. I have two Citi cards as well (one opened in June and another in August) and I just got an offer for the new Thank You points card with 0% interest, 6000 bonus points, free oil changes for life (just kidding ) and it's totally making me salivate. But I do NOT need another CC. I can barely keep the ones I have happy with good usage. MAKE IT STOP!!! OH! And if you're in the market for a BT, Citi seems to love them. They've been hounding me ever since I got my first card.

Re: CitiCards Multiple Inquiries

lovely222 — Wed, 15 Dec 2010 01:53:13 GMT

LMAO @ oil changes for life. That was hilarious. Maybe they'll only give me on INQ since I foolishly applied for two cards in a seven day period. I will be checking out my CreditSecure alerts from Amex religiously! I think I may use the BT offer on my new card. It's 0% for 21 months. You really can't beat that.

Re: CitiCards Multiple Inquiries

jefftca925 — Wed, 15 Dec 2010 02:01:32 GMT

@lovely222 wrote:
@LMAO @ oil changes for life. That was hilarious. Maybe they'll only give me on INQ since I foolishly applied for two cards in a seven day period. I will be checking out my CreditSecure alerts from Amex religiously! I think I may use the BT offer on my new card. It's 0% for 21 months. You really can't beat that.

Is it for the new Thank You card? I got the same BT offer with mine but I have nothing to transfer as I pay everything off monthly (if not weekly sometimes). Their CSRs are pretty funny though... they're like "sir, did you know that you can have money transfered into your checking account that you can use for just about anything with this offer?" OMG!! Please do NOT make me take you down to the federal BANKRUPTCY court so you can see all the poor saps that took you up on that offer. Thats like giving the key to the candy store to a 5 year-old. I have much better restraint than that

Re: CitiCards Multiple Inquiries

lovely222 — Wed, 15 Dec 2010 02:08:52 GMT

Wow, paying down everything every week? I commend you. I will be on your level someday. Your credit scores must be amazing! (aka what are they? lol) I'm new at this CC stuff, my oldest account is 5 years old, I got it when I was 18... You do the math. Haha. I was just approved for the Platinum Select MasterCard. Haven't even received it in the mail yet.

Re: CitiCards Multiple Inquiries

haulingthescoreup — Wed, 15 Dec 2010 02:12:48 GMT

@lovely222 wrote:
Wow, paying down everything every week? I commend you. I will be on your level someday....

You can be on this level next week if you get in the habit of never charging what you don't already have the money to pay off right away.

'Grats on the new plastic. Don't let it boss you around.

Re: CitiCards Multiple Inquiries

lovely222 — Wed, 15 Dec 2010 02:14:39 GMT

That's my New Year's Resolution.

Re: CitiCards Multiple Inquiries

jefftca925 — Wed, 15 Dec 2010 02:22:09 GMT

@haulingthescoreup wrote:

@lovely222 wrote:
Wow, paying down everything every week? I commend you. I will be on your level someday....

You can be on this level next week if you get in the habit of never charging what you don't already have the money to pay off right away.

'Grats on the new plastic. Don't let it boss you around.

That's exactly my mantra. If I don't have the money in the bank to pay it off right away then I just don't need it. "Always be a Master to your credit, not a Slave". I just use CCs for the points and miles and other freebies. They have made PLENTY of $$ off of me in the past. Now it's PAYBACK TIME!

Just an FYI... my scores are in the mid to high 700's. Takes a lot of diligence and hard work to get there. Anyone on this board will tell you that.

Congrats on the new card though... I just love the smell of new plastic!

Re: CitiCards Multiple Inquiries

lovely222 — Thu, 16 Dec 2010 16:09:23 GMT

Got an alert from CreditSecure. I have a new INQ from Citibank on my EX report. That's 6 INQ in total this year. 4 from Citi (2 from approved CLIs). However, for the other card that they did approve, it was from CitiCards, not Citibank. Why is it listing as two separate things? Anyway, I can get them to drop one of them since they occur within a week of each other? Or is that wishful thinking?

Re: CitiCards Multiple Inquiries

haulingthescoreup — Thu, 16 Dec 2010 16:26:01 GMT

@lovely222 wrote:
Got an alert from CreditSecure. I have a new INQ from Citibank on my EX report. That's 6 INQ in total this year. 4 from Citi (2 from approved CLIs). However, for the other card that they did approve, it was from CitiCards, not Citibank. Why is it listing as two separate things? Anyway, I can get them to drop one of them since they occur within a week of each other? Or is that wishful thinking?

I wouldn't bother. There's probably no difference in scoring between 5 and 6 inqs.

Definitely don't dispute to try to get it off. Disputing inqs is a time-proven way of having all three bureaus slap Fraud Alerts on your reports.

Just let it go. Inqs don't count that much in scoring; they're a necessary part of building/ rebuilding your credit; and it might help remind you that you've now moved into the credit gardening stage. As in, you're done apping.

Re: CitiCards Multiple Inquiries

lovely222 — Thu, 16 Dec 2010 16:41:24 GMT

Thanks for the advice. Letting it go in 5...4...3...2...1.

Ah, that was nice. Definitely done app'ing!