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Reality Check - Citi Premier (re)application

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JZK
Established Member

Reality Check - Citi Premier (re)application

I have been hiding under a rock since I was denied the Citi Premier in January, letting my credit report simmer.  I intend to apply for the Premier again and wanted to get opinions if there would be any advantage to wait longer before I pull the trigger.

 

Here is where I stand:

Scores: Exp: 829 Eq: 814 TU: 830

     scores increased +27,+13,+36 on latest report

Inquiries (6/12/24): Exp: 0/1/5 Eq:  0/1/3 TU: 0/1/2

     1 inquiry will drop off all report Nov 15

Cards: 11 credit + 2 charge cards

     I have the double cash, but minimal use recently

     Total credit limit: 153K but several chase and cap1 cards lowered recently commensurate with use

No derogotories.

Avg age: 3y 11mo

Oldest account: 11y 9mo

Utilization: less than 1%

Income: +/- 160K

 

Am I overly cautious?  After getting denied, I figured that it would be best to minimize negatives before I attempt another application.  I would love to hear any thoughts you may have.

 

 

 

 

 

Message 1 of 11
10 REPLIES 10
GZG
Valued Contributor

Re: Reality Check - Citi Premier (re)application

age of newest account?

 

if you wait out the year from when you last applied, that inquiry falls off and your citi inquiry comes off in terms of FICO scoring

 

any reason you don't want to wait the year out?

Starting FICO 8:

Current FICO 8:

5% cards:



3% and 2% cards:



Low APR cards:



Sign Up Bonuses and Debit Cards:



2/6, 5/12, 14/24

Message 2 of 11
FrankenBeans
Established Member

Re: Reality Check - Citi Premier (re)application

If you're not in a huge hurry, I would hold out for an elevated SUB. It seems like a new one should be coming out soon. The last one was 80k in April; seems they should be doing something with the upcoming holidays. 

Message 3 of 11
SouthJamaica
Mega Contributor

Re: Reality Check - Citi Premier (re)application


@JZK wrote:

I have been hiding under a rock since I was denied the Citi Premier in January, letting my credit report simmer.  I intend to apply for the Premier again and wanted to get opinions if there would be any advantage to wait longer before I pull the trigger.

 

Here is where I stand:

Scores: Exp: 829 Eq: 814 TU: 830

     scores increased +27,+13,+36 on latest report

Inquiries (6/12/24): Exp: 0/1/5 Eq:  0/1/3 TU: 0/1/2

     1 inquiry will drop off all report Nov 15

Cards: 11 credit + 2 charge cards

     I have the double cash, but minimal use recently

     Total credit limit: 153K but several chase and cap1 cards lowered recently commensurate with use

No derogotories.

Avg age: 3y 11mo

Oldest account: 11y 9mo

Utilization: less than 1%

Income: +/- 160K

 

Am I overly cautious?  After getting denied, I figured that it would be best to minimize negatives before I attempt another application.  I would love to hear any thoughts you may have.

 

 

 

 

 


They'd be crazy to turn you down.


Total revolving limits 657200 (536700 reporting) FICO 8: EQ 706 TU 714 EX 715

Message 4 of 11
JZK
Established Member

Re: Reality Check - Citi Premier (re)application

Newest account was 10/22

 

You're right, doesn't make sense to apply at 11 months, when I can wait a couple more and remove one more negative.

I was thinking about getting it before an upcoming international trip, plus I am expecting a large expense end of the year.  But mostly because I am getting antsy. 

Message 5 of 11
JZK
Established Member

Re: Reality Check - Citi Premier (re)application

Great idea.  Looks like it would make sense to wait until Jan anyway.

Message 6 of 11
JZK
Established Member

Re: Reality Check - Citi Premier (re)application

Maybe, but I thought that when I first applied.  So I thought I best be cautious.

Message 7 of 11
youngandcreditwrthy
Senior Contributor

Re: Reality Check - Citi Premier (re)application

I don't think citi likes that low of Util.

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 8 of 11
NoMoreE46
Community Leader
Senior Contributor

Re: Reality Check - Citi Premier (re)application

Based on your current profile, I would congratulate you on the Premier if you applied today or in Jan 2024.

 

Would you share the denial reason from this Jan?

 

 

Message 9 of 11
JZK
Established Member

Re: Reality Check - Citi Premier (re)application

I've found that my scores drop if my utilization goes up even by a couple percent.  Obviously, it is easy enough to increase utilization.  What do you find to be an optimal utilization?

Message 10 of 11
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