Discover and Citi Advice

Anonymous · ‎03-06-2016

Want to add a Discover card and a Citi (non-store branded) card to complete my wallet. Current profile as follows:

Scores and UTI: current as shown in signature
Inquiries: TU = 4 // EQ = 2 // EX = 6
Derogatory Marks: TU = 2 (6+ years old) // EQ = 4 (5+ years old) // EX = 1 (5+ years old) ALL MEDICAL AND ALL IN DISPUTE
Payment History: Perfect = 0 missed, 0 late
Credit History: 13+ years
AAoA = 5 years

I'm looking for advice regarding:

Discover It
1. Average score necessary for approval?
2. Overall odds of approval based on my information?
Citi Double Cash or Diamond Preferred
1. Average approval score for each card?
2. General Citi approval odds based on my credit profile + the approximately 6 months of credit/payment history established with Citi via their Best Buy Visa?
3. Any general info on the above card choices? Is one more difficult to obtain than the other?
4. SL estimates? More specifically, which of the two cards is likely to offer a higher SL?

From combing the threads, I've gathered that the Discover pre-qual site is pretty useless. I did try it for myself, but got the same generic message it seems the vast majoirty have, so I'm not putting any stock into that. The general consensus appears to be that the Citi pre-qual link, though, is pretty reliable. This is the message I received from Citi: "Angela Chapman, you have been pre-qualified for the Citi Diamond Preferred Card." I did not receive a range of terms, so that seems like a good sign. Unfortunately, the specific terms they did offer aren't awesome - 0% intro APR for 9 months, 23.24% thereafter. 9 months just seems extremely brief to me and 23.24% exorbitant. I guess it doesn't really matter as I never carry a balance on any of my cards outside of their 0% introductory period.

With that being said, I'm still a bit confused... Is the Citi Diamond Preferred more dificult to qualify for than the Citi Double Cash? Like if I qualified for the Diamond Preferred would I most likely meet the criteria for the Double Cash as well? And if so, is one more apt to offer a higher SL than the other? I'm only asking because my decision for which to apply will be based on the card most likely to give me a higher SL since it seems Citi is stingy with their CLI's and always require a hard pull.

Any advice is greatly appreciated!!

Anonymous · ‎03-06-2016

@Anonymous wrote:
Want to add a Discover card and a Citi (non-store branded) card to complete my wallet. Current profile as follows:

Scores and UTI: current as shown in signature
Inquiries: TU = 4 // EQ = 2 // EX = 6
Derogatory Marks: TU = 2 (6+ years old) // EQ = 4 (5+ years old) // EX = 1 (5+ years old) ALL MEDICAL AND ALL IN DISPUTE
Payment History: Perfect = 0 missed, 0 late
Credit History: 13+ years
AAoA = 5 years

I'm looking for advice regarding:

Discover It
Average score necessary for approval?
Overall odds of approval based on my information?
Citi Double Cash or Diamond Preferred
Average approval score for each card?
General Citi approval odds based on my credit profile + the approximately 6 months of credit/payment history established with Citi via their Best Buy Visa?
Any general info on the above card choices? Is one more difficult to obtain than the other?
SL estimates? More specifically, which of the two cards is likely to offer a higher SL?
From combing the threads, I've gathered that the Discover pre-qual site is pretty useless. I did try it for myself, but got the same generic message it seems the vast majoirty have, so I'm not putting any stock into that. The general consensus appears to be that the Citi pre-qual link, though, is pretty reliable. This is the message I received from Citi: ", you have been pre-qualified for the Citi Diamond Preferred Card." I did not receive a range of terms, so that seems like a good sign. Unfortunately, the specific terms they did offer aren't awesome - 0% intro APR for 9 months, 23.24% thereafter. 9 months just seems extremely brief to me and 23.24% exorbitant. I guess it doesn't really matter as I never carry a balance on any of my cards outside of their 0% introductory period.

With that being said, I'm still a bit confused... Is the Citi Diamond Preferred more dificult to qualify for than the Citi Double Cash? Like if I qualified for the Diamond Preferred would I most likely meet the criteria for the Double Cash as well? And if so, is one more apt to offer a higher SL than the other? I'm only asking because my decision for which to apply will be based on the card most likely to give me a higher SL since it seems Citi is stingy with their CLI's and always require a hard pull.

Any advice is greatly appreciated!!

I think you have a better than average chance of approval for the Discover card. I'd go ahead an apply as even if you're denied now, one more inquiry isn't going to kill you.

As for the Citi card, I think that if you're prequalified for the Diamond preferred then you should be able to get approved for the DC as I don't think they have grealy different underwriting criteria. Not sure which one you would get a higher SL as neither card is known to be good with starting limits. Citi is fine with CLIs as long as you're willing to wait the 6 months necessary to get the SP CLI option. If you want one before that, you'll probaby get one but it would be a HP.

Good luck when you apply.

Anonymous · ‎03-06-2016

Went ahead and pulled the trigger on the Discover It. Instant approval, but with a disappointing SL of $1000. So I called for a recon and reached a very nice rep who advised that I'll need to wait until I receive the card, then call back upon activation for the CLI request, and confirmed that it will be a soft pull. So far so good. I think I may just wait on the Citi card. I don't need it, and the terms aren't enticing enough for me to take a hit to Experian right now. I think I'll just let my score grow for a while and spend time looking at cards across all the lenders to choose one final sort of "ultimate goal" card for when I reach 750+.

Honestly, I probably shouldn't even bother wasting my time researching other cards since I'm certain my Centurion invite is already in the mail...

Thanks for your reply!

Anonymous · ‎03-06-2016

@Anonymous wrote:
Went ahead and pulled the trigger on the Discover It. Instant approval, but with a disappointing SL of $1000. So I called for a recon and reached a very nice rep who advised that I'll need to wait until I receive the card, then call back upon activation for the CLI request, and confirmed that it will be a soft pull. So far so good. I think I may just wait on the Citi card. I don't need it, and the terms aren't enticing enough for me to take a hit to Experian right now. I think I'll just let my score grow for a while and spend time looking at cards across all the lenders to choose one final sort of "ultimate goal" card for when I reach 750+.

Honestly, I probably shouldn't even bother wasting my time researching other cards since I'm certain my Centurion invite is already in the mail...

Thanks for your reply!

Congrats on the approval. Discover is very good with CLIs so your limit will grow quickly.

Good luck on the quest for 750. It will come in time and please put me as an AU on the Centurion.

Anonymous · ‎03-06-2016

One other thing. You might want to edit your full name out of your first post. Between that and the info you provided someone might try something nefarious. Remote, but always a possibility these days.

Anonymous · ‎03-06-2016

Good call on the screen name change. Didn't even think about that! Thanks again!

Anonymous · ‎03-07-2016

@Anonymous wrote:
Good call on the screen name change. Didn't even think about that! Thanks again!

You're very welcome

kdm31091 · ‎03-07-2016

Congrats on the Discover. If you give Discover some time/history/use, it tends to grow with SP CLIs.

I think waiting on Citi is a good option. With the 23% APR being offered, I doubt you'd be seeing much in the way of a starting limit.

Anonymous · ‎04-10-2016

When I did the prequalify for citi I received the same offer. Ended up applying and was given a $2,700 starting limit and my Experian was a measly 642 at the time.