One thing I was always wondering is the following. If one is to undertake a similar (on a smaller scale, perhaps) project of obtaining maximum Total Credit Line in let's say 2-3 years, what AAofA one should target to maintain while doing so? Obviously, as more accounts are established, AAofA will keep dropping.
Is 2 years enough for AAofA? 3 years?
The reason I am asking this is because I have some big plans for 2019 but my only issue is that while I am starting from a decent AAofA (6+ years) it's based on a relatively few accounts so it will drop to 4yrs, 3yrs, 2yrs pretty quickly (based on the simple Excel math).
Thanks in advance!!
I think it totally depends on all the factors put together. I'm averaging at under 2 years aaol and I just got a SL of 21,000 on a Chase Freedom and an Amex Platinum where when I checked spending power and put in $50,000 for that month and they okayed it. My longest line of history is 4 years old but my payment history on the cards i did have was perfect, my highest spends on credit report were on the higher side and I PIF each month and my income is generous. So I really believe in my case, my aaol is not being factored in as much as my payment history, spend and cash inflow.
I haven't tried Citi yet and am gardening now but I would argue it would all be relative there too. The amount I deposited in the last year was quite high to the extent they gave me my own personal banker so I'm assuming getting a a card wouldn't be that hard. So I think it's all relative. In other words, I am of the belief that it's all kind of relative to each of the components apart from one another and then all of the components added back together again. That's my take from my journey.
We’ve all been waiting anxiously for this LOL congrats! Great SL! Let us know if this card is all it’s cracked up to be!
Congrats thanks for taking one for team.. I would speculate it might be a bit more laxed approval standards with regard to citi as well. Whether it is AA laxed we don't know yet. Great DP though and better limit that i would of thought for a no AF card with Citi
Guys I was perfect candidate to go first for this card here I tell you why no 1 I already took the bonus for the premier (the 60k deal) back in 2018 so I had nothing to lose or gain of the outcome no 2 for me now nothing left to apply (excitement times are gone) no 3 to make sure if its an easy or a hard nut to crack no 4 the only card was left for me to apply with Citi with bonus was and still is AT&T ACCESS MC and I am going to get that in the end of march hopefully the thank you bonus I am now eligible for LOL and no 5 none of you cats were applying for it total silence by the way product change is possible to this card according to doctor of credit update...
i feel there is a big misconception about Citi bank I can guarantee you that.. it was the top bank and card issuer tend to give out huge starting limits back in the 80s and early 90s the banks you know today Comenity and Synchrony were no where to be found those days there were only few Giants including household bank (was the issuer of almost all retail cards back than) Citi changed their lending policy in early 2000 for some reasons to some specific group of applicants otherwise it is the same great bank as it was in 90s I am sure Fin will get my point ..Citi still dishes out decent high limit if you know how to get it long story ....
Great data and congrats on the stellar approval. It's already been said so Ill simply repeat it.. thanks for taking it for the team after we were just discussing in other threads who was going first .