Not great.
How many are you x/6?
zero percent. Wait a few months
@AyaMai wrote:6/6
Yeah, on a scale of 1 through 10, your odds with either of those banks are about a negative 12 at the moment.
@CreditCuriosity wrote:
@AyaMai wrote:
@Blender wrote:Not great.
How many are you x/6?
6/6
As others has stated just don't.. Wait at least to 0/6 and even though with citi nothing is guaranteed. Us Bank is even more strict likely. Charge offs are very high right now and various other issues banks especially those two have really tightened up and not sure if anyone knows what the true cut off points are if a set rule, but they aren't favorable in current conditions.
@CreditCuriosity is right, but I'd take it a step farther, @AyaMai. Yes, US Bank and CITI are both very conservative about recent credit-seeking. While there aren't well-known metrics like there are with some other large lenders like Chase (5/24), I believe both of these banks look at the x/6 and x/12 values. More than one or two, depending on profile, will probably lead to a denial.
When you say the inquiries will drop off, do you mean as scorable (after 12 months) or drop off as reportable (after 24 months?) It's usually best to give the x/6; x/12; x/24 data points (both inquiries and new accounts) for the community to give feedback. Your best chance will be when you reach 1/12 or after. And I would only pursue one or the other lender at that time. Then garden and wait another six months at least before applying with the other.
I've read that Citi likes you to be 0/6 inquiries before approving a new card or granting a CLI on an existing card. My anecdotal experience in getting CLIs from them seems to confirm that. I couldn't get an increase at 6 months, but a couple months later when I was 0/6, I got a CLI.
I've seen people suggest you be 0/6, 1/12 new accounts to get a card from US Bank. I was 1/6, 2/12 when approved for the Cash+. I think I was 0/6, 3/12 when I got the Shopper Cash Rewards. So YMMV. I think I recently saw someone who got declined at 0/12, but the reason seemed to be the x/24 number, which I didn't know they paid any attention to before that.
@mgood wrote:I've read that Citi likes you to be 0/6 inquiries before approving a new card or granting a CLI on an existing card. My anecdotal experience in getting CLIs from them seems to confirm that. I couldn't get an increase at 6 months, but a couple months later when I was 0/6, I got a CLI.
I've seen people suggest you be 0/6, 1/12 new accounts to get a card from US Bank. I was 1/6, 2/12 when approved for the Cash+. I think I was 0/6, 3/12 when I got the Shopper Cash Rewards. So YMMV. I think I recently saw someone who got declined at 0/12, but the reason seemed to be the x/24 number, which I didn't know they paid any attention to before that.
Issuers can see up to 24 months. It is up to them how much that is considered in the application. Considering that most banks have been taking losses on credit cards lately they have started being stricter on inquiries in the first year and if they really did not care about the second year they have started to. US Bank was clearly seeing something in you with the Cash+ but the Shopper Cash Rewards is a AF card that is better to give to you earlier than later so that is what they did. Citi is also just as willing to be picky since they have been staring at the edge of the bankruptcy cliff for quite some time. Only bailouts and creative resource use have kept them from getting pushed over.
