Citi has a long memory. Paying past balances isnt like NFCU to get back in. Theres others out there. More will chime in.
@SnootyFox wrote:I know that pre-selected doesn't mean pre-approved but I have a question regarding Citi's pre-selected mail offers. I had a Citibank account that was "closed at credit grantor's request" with a balance of $3,367 on a $1,580 limit. The account was never charged-off and appears to still be in possession of Citibank. The account was opened Apr 26, 2013 and it was closed on Apr 21, 2017 following a 60-day late (that was never paid), and was last updated with Experian Jan 2017 (this doesn't seem correct as it was closed 3 months later?). I have three questions:
(1) I've been getting pre-selected offers in the mail for 3 of their cards (Custom Cash, Double Cash, Diamond Preferred) for a few months now and was wondering what my chances of approval are. I could really make use of the Custom Cash card. I know that pre-selected mail offers are usually "marketing" (correct me if I'm wrong in the case of Citi) and when I check the pre-selected tool on their website it returns no results. Correct, these offers generally mean you've met the initial criteria such as a certain credit score, etc...
(2) Since the balance is believed to still be in the possession of Citibank, what are my chances of being able to pay the balance and get back in with their ecosystem? Does anyone have experience with this? What number would I call or should I try and do this in-branch? I don't mind paying the balance if it means that hopefully I get back in a relationship with them. Citi can be forgiving, after a number of years. Regardless of outcome, paying them would be the ethical thing to do and it certainly wouldn't hurt your relationship with them.
(3) Should I find an alternative card that serves a similar benefit? Should I not pay the account and wait for it to fall off my credit reports and then try to apply? It recently fell off my TU (last month when it was exactly 6 years [not 7], not sure why so early but I'm not complaining) but it still shows on EX and EQ. What are my chances of getting back with them in this scenario? Just because it falls off your credit report doesn't mean it goes away for Citi, and they're known to have a rather long memory. I guess the question of whether to pay it or not comes down to how much you value a relationship with them... There are other cards out there that would fit your needs
Any suggestions would be great, thank you and I appreciate it!
Does Citi state a rate on these? Did your preapproval?
If so, does the old rule apply that if your preapproval offer discloses a specific interest rate, you're likely approved?
Tons of ads on Experian and CK, Karma Guarantee for many people and the endless mailers they keep sending (I got 2 this week), Citi really seems to want to issue more cards these days. It might also mean they are slightly more likely to approve applications maybe (based on no info, just a guess).
