Prequal for CIti Costco accurate?

[MontegoMack]

(I wanted to give this topic its own thread since it morphoed from another thread about my BB Visa)

I'm just trying to increase my scores by paying down my balance (AZEO, but that one is hogging 50% of my total utilization) and by increasing my CLs. I've been prequalified on Citi's site with a 16.99% APR. What I've also read is that *everyone* gets a difinitive APR for this card when checking for prequals. What ever happened to Citi being good about its accuracy with prequals?

No baddies. 

1 INQ on all 3 

EQ 675  TU 692 (just got a lil' bump up today!) EX 683

I'd pull the trigger, but I've been scared off being told that Citi doesn't like a high UTIL. That gets me wondering how lenient are they if I have to recon?

I guess I can afford the HP and it's a card I'll certainly use. 

Apping sounds like a good idea to me, but nobody likes rejection. Sooo, what do you think are my chances?

[wingennis]

I've never received a prequal for this card, fwiw.

[Anonymous]

Unless you had language specifically stating that this is a prequalification or preappoval, I'd consider it a marketing offer and proceed accordingly. I've not had a prequalification from Citi since starting my credit rebuild (I IIB'ed them on my mortgage and a co-branded Best Buy store card), but I'm routinely offered the Citi Costco Visa at 16.99% whenever I check that page.

[SomewhereIn505]

For curiosity sake, did you use Citi's free FICO score card? Reason being, it helped me judge my approval chances.

I couldn't get any prequals to show up, however on the score card, it did have several offers. Once I was able to get all 4 of Citi's main cards to show up, I went ahead and app'd and was approved for Costco and AAdvantage a few weeks of each other.

The Costco card has everyone at 16.99% I would get that utility down, ensure your reports are reflecting it, then go after it.

[FinStar]

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@MontegoMack wrote:

(I wanted to give this topic its own thread since it morphoed from another thread about my BB Visa)

I'm just trying to increase my scores by paying down my balance (AZEO, but that one is hogging 50% of my total utilization) and by increasing my CLs. I've been prequalified on Citi's site with a 16.99% APR. What I've also read is that *everyone* gets a difinitive APR for this card when checking for prequals. What ever happened to Citi being good about its accuracy with prequals?

No baddies. 

1 INQ on all 3 

EQ 675  TU 692 (just got a lil' bump up today!) EX 683

I'd pull the trigger, but I've been scared off being told that Citi doesn't like a high UTIL. That gets me wondering how lenient are they if I have to recon?

I guess I can afford the HP and it's a card I'll certainly use. 

Apping sounds like a good idea to me, but nobody likes rejection. Sooo, what do you think are my chances?

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As I posted on your other Best Buy thread, the Costco Visa only has 1 variable APR - 16.99% (there is no spread or range).  Citi can pull EX, EQ... or in some instances TU.

Citi reconsiderations are YEMV or 50/50.  More often than not, they stand by the original decision unless there are some borderline factors that UW might feel can overcome the original denial.

That being said, unless you're confident on the approval, then you can go for it.  As far as rejection, it's just part of normal everyday life.  Sometimes such outcomes help you with formulating a better strategy for trying again the next time around.