Citi Premier - with fixed APR and invitation code

[Anonymous]

Hi everyone, 

I'm looking for a little advice from the forum. Recently, I recived a Citi Premier mailer with a set APR and inviation number enclosed. The mailer doesn't specify if I've been pre-approved, or pre-selected. I was wondering if anyone else has recently seen one of these, and if so what are my chances of approval. 

Currently, my scores are Experian - 710, Transunion - 720 , and Equifax - 720. I have one negative on my report from 6 years ago with a car repossession, as this has caused me issues getting approved. Aka - Chase denied me last month due to it, although my scores qualified, and I bank with them. 

Thanks in advance for any help! I just really hate to take another hard pull for nothing. 

[FinStar]

It's a marketing invitation to apply. It is not a pre-approved offer, regardless of the pre-screen disclaimer, invitation code and/or solid APR. 

Unfortunately, no way to know the odds unless you apply. If Chase denied your recent application based on that negative item, it's possible Citi may do as well. Each lender has their own underwriting criteria so it's hard to say if Citi may consider the negative item (given how long it's been) or let you slide under the wire 🤷‍♂️

[CreditInspired]

Hi and welcome to myFICO

If you're concerned about getting a HP, I advise waiting until the negative fall off of your report. And, just know, even if it had been a pre-approval, one can still be declined once the creditor reviews the full report. Also, since you didn't provide any other datapoints like utilization, number of inquiries, average age of accounts, etc., it's difficult for the forum to know your chances. However, Finstar is correct, it is just marketing and since Chase declined you, you don't want to be in a situation of "declines begat declines" or even if approved, it's for a puny credit limit. 

[EAJuggalo]

Was this the one that included a sheet of paper that says "80% of people that apply get approved as long as they meet the qualifications on the back?"  I got one last week and considered it for about 30 seconds until I looked at it and considered the usefulness of the card.  The APR given to me was higher than any of my other cards with decent limits, there are no rewards, it appears that the only thing the card is good for is the initial Balance Transfer offer.

[Hoben02]

If you do a lot of intl travel the card is worth getting, 

[SouthernCredit]

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@EAJuggalo wrote:

Was this the one that included a sheet of paper that says "80% of people that apply get approved as long as they meet the qualifications on the back?"  I got one last week and considered it for about 30 seconds until I looked at it and considered the usefulness of the card.  The APR given to me was higher than any of my other cards with decent limits, there are no rewards, it appears that the only thing the card is good for is the initial Balance Transfer offer.

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I think you're referencing Diamond Preferred. Premier is one of their upper tier travel rewards cards.

[Anonymous]

Thank you! That's what I suspected.