Citi offer in the mail?

[Anonymous]

Just got a mailer from Citi for double cash card. Back story......i have had REALLY bad credit for a long time. After doing many things on my own....and then later using the forum; I've been lucky enough to clean my credit. So far things are getting better...per my siggy my wife and I are looking at house purchases yet I think I can really help our scores getting this and paying my DW PFD accounts to clear her credit. I don't make a lot of money, but my credit is better.....for now....should I go ahead and open?

[Anonymous]

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@Anonymous wrote:
Just got a mailer from Citi for double cash card. Back story......i have had REALLY bad credit for a long time. After doing many things on my own....and then later using the forum; I've been lucky enough to clean my credit. So far things are getting better...per my siggy my wife and I are looking at house purchases yet I think I can really help our scores getting this and paying my DW PFD accounts to clear her credit. I don't make a lot of money, but my credit is better.....for now....should I go ahead and open?

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If you're going to go for a mortgage, I would not open another card. It looks like you already have 3 credit cards, and I believe that is all that is really necessary to increase your scores. Another thing that helps scores is keeping utilization low (and getting any baddies removed). 

[Anonymous]

Does it say "Pre-Approved" or "Pre-selected to apply". Pre-approved is a little better but still not a guaranteed approval. Also, might want to wait if you are looking for a mortgage.

[taxi818]

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@Anonymous wrote:
Just got a mailer from Citi for double cash card. Back story......i have had REALLY bad credit for a long time. After doing many things on my own....and then later using the forum; I've been lucky enough to clean my credit. So far things are getting better...per my siggy my wife and I are looking at house purchases yet I think I can really help our scores getting this and paying my DW PFD accounts to clear her credit. I don't make a lot of money, but my credit is better.....for now....should I go ahead and open?

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If you are house hunting. No!!!. Absolutely no. Your scores could change and affect the interest rates on the house.

Wait until after you close before applying for anything. after you close. then app away. Good luck.

[taxi818]

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@Anonymous wrote:

Does it say "Pre-Approved" or "Pre-selected to apply". Pre-approved is a little better but still not a guaranteed approval. Also, might want to wait if you are looking for a mortgage.

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There is no difference between pre approved or pre selected. As if nothing changed on your report from the time they did sp on your credit report. you simply meet their criteria. however most mailers from citi are always pre selected. and you have a 90 plus percent chance of being approved from the mailers.

[SOGGIE]

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@taxi818 wrote:

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@Anonymous wrote:
Just got a mailer from Citi for double cash card. Back story......i have had REALLY bad credit for a long time. After doing many things on my own....and then later using the forum; I've been lucky enough to clean my credit. So far things are getting better...per my siggy my wife and I are looking at house purchases yet I think I can really help our scores getting this and paying my DW PFD accounts to clear her credit. I don't make a lot of money, but my credit is better.....for now....should I go ahead and open?

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If you are house hunting. No!!!. Absolutely no. Your scores could change and affect the interest rates on the house.

Wait until after you close before applying for anything. after you close. then app away. Good luck.

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+1

[Anonymous]

I know what is wise. I just needed encouragement. I haven't had good credit in a decade. It makes offers from better banks give that rush of...."wait" I have hood credit. ...should I get that. I know I shouldn't, but it's tough when it's been a struggle for so long.....thanks everyone

[Anonymous]

Know your feel on moving back in the world of good credit. Generally home loan lenders are shy about new credit too close to an app. May want to think about when you are going to focus on a house and then you can decide on the Citi Double Cash.