topic Re: Citi Secured... in Credit Cards

Citi Secured...

Andy77 — Wed, 03 Oct 2012 18:54:31 GMT

So instead of waiting 5 years for me to get a CLI on my Citi Card, I deicded to get a Citi Secured Card and put down 2k for the deposit.

In Sept 2009 I got a Citi Secured Card and put down 200.00 it graduated, etc

Do you think I will be declined for having too many inquiries?

I have 37 total

I can't find where anyone else has been declined this card because of inquiries

Re: Citi Secured...

Revelate — Wed, 03 Oct 2012 19:17:11 GMT

@Andy77 wrote:

So instead of waiting 5 years for me to get a CLI on my Citi Card, I deicded to get a Citi Secured Card and put down 2k for the deposit.
In Sept 2009 I got a Citi Secured Card and put down 200.00 it graduated, etc

Do you think I will be declined for having too many inquiries?

I have 37 total

I can't find where anyone else has been declined this card because of inquiries

Unlikely, but out of curiosity why do you have so many inquiries on a single report or was it multiple reports? Inquiries across reports are rarely known and possibly never counted by lenders anyway outside of a mortgage so if 37 is EX+EQ+TU inquiries, just take the highest of your reports and figure that for any analysis honestly.

Also when did you old Citi card graduate? 12 or 18 months?

Re: Citi Secured...

Andy77 — Wed, 03 Oct 2012 20:08:22 GMT

I have 37 on my EX. Not proud of it, many of those are actually Citi recons on a few of their cards.

My former Citi secured card graduated after 18 months

Because the funds are locked into a CD for a set amount of time I don't think the card can graduate early.

Re: Citi Secured...

LS2982 — Wed, 03 Oct 2012 21:53:56 GMT

They could decline for INQ's if they pull EX. Hopefully not.

Re: Citi Secured...

Revelate — Wed, 03 Oct 2012 22:05:09 GMT

@LS2982 wrote:
They could decline for INQ's if they pull EX. Hopefully not.

I wouldn't imagine it'd be a problem in this case, inquiries aren't a huge red flag when it comes to secured cards anyway, and if most of them are Citi-releated they'll have the internal record. Will probably provide some shock and awe and possibly amusement factor for the underwriter seeing that many but they should be easy to work around through the likely phone call if it's considered an issue at all. It's not likely to be an outright denial without the conversation, I'm actually pretty convinced if you have a colorful flag on your report you're more likely to get a call than not, much like my albatross with the WFDS underwriter.

Have to admit, color me impressed with that many inquiires on a single report.

Re: Citi Secured...

shalane85 — Thu, 04 Oct 2012 02:01:08 GMT

Citi has a secured card? When I looked on their webpage I didnt see it.

Re: Citi Secured...

WhiteCollar — Thu, 04 Oct 2012 02:12:24 GMT

You can go into a branch location to apply. There use to be an application to print, complete and mail in online but I cannot seem to locate it. The secured card application was never available online.

Re: Citi Secured...

cashnocredit — Thu, 04 Oct 2012 03:48:51 GMT

@WhiteCollar wrote:
You can go into a branch location to apply. There use to be an application to print, complete and mail in online but I cannot seem to locate it. The secured card application was never available online.

It used to be online as a PDF. I downloaded it for my niece in 2010.

Re: Citi Secured...

Andy77 — Fri, 05 Oct 2012 19:10:42 GMT

So Citi got my secured card application and I got a call from them asking me how long I had been at my employer and what was the name of my employer.

On the application itself, it does not ask for the name of your employer or how long you have been there.

Is that normal for them to call and ask questions that were not even on the application?

Does that mean denial?

Re: Citi Secured...

cashnocredit — Fri, 05 Oct 2012 19:54:32 GMT

@Andy77 wrote:

So Citi got my secured card application and I got a call from them asking me how long I had been at my employer and what was the name of my employer.
On the application itself, it does not ask for the name of your employer or how long you have been there.

Is that normal for them to call and ask questions that were not even on the application?

Does that mean denial?

Not at all. It only means that you haven't been denied yet. On new apps they ask employer info but when they came up with the secured card it wasn't a factor. I think they just hadn't updated the app, can't tell from you CRs, and want the information for their current internal score models most of which now factor in time employed.

Re: Citi Secured...

Andy77 — Thu, 18 Oct 2012 17:59:44 GMT

Well, guess my 38 inq on EX did not matter as my applicaiton was approved, good to know.