Interesting data point on Citi Simplicity Approval

[pipeguy]

DW got a "pre-selected" Citi Simplicity offer in the mail today - kind of the sub-prime version of 12 months 0% for purchases and balance transfers and then 21.24% APR after that. As well advertised the value in this card is 21 months of 0% APR purchases and balance transfers, not 12 months and while the APR is really unimportant for the first 21 months, I'm not a fan of APR's over 20% or really over 15%.

Checked the pre-qualifed offers Citi page, same 12 month offer and a range of APR's so I went in through another site that offers credit card reviews (not sure I'm supposed to mention it in a post, but its one of the ones that comes up on a google search for "pre-qualified offers") and applied. I/we were going for the 21 month offer rather than 12 and she expects to BT 2 high APR accounts - that was the plan at least - I figured she'd get a $3-5k SL, but I know this card can be approved at low limits.

Approved for 21 month terms rather than 12, approved at 16.24% after that - rather than 21.24% and was given a starting limit of $10k. This was all done online, no recon and I/we sure did NOT use the mail offer ref number  

[redbeard]

Ahhh, but you did recon.... but with yourself

Awesome job!

[Anonymous]

Kind of reinforces the idea that most mailed things are just sent by marketing and not necessarily ideal to apply for. 

Congrats and thanks for sharing your story!

[12njoy]

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@pipeguy wrote:

DW got a "pre-selected" Citi Simplicity offer in the mail today - kind of the sub-prime version of 12 months 0% for purchases and balance transfers and then 21.24% APR after that. As well advertised the value in this card is 21 months of 0% APR purchases and balance transfers, not 12 months and while the APR is really unimportant for the first 21 months, I'm not a fan of APR's over 20% or really over 15%.

Checked the pre-qualifed offers Citi page, same 12 month offer and a range of APR's so I went in through another site that offers credit card reviews (not sure I'm supposed to mention it in a post, but its one of the ones that comes up on a google search for "pre-qualified offers") and applied. I/we were going for the 21 month offer rather than 12 and she expects to BT 2 high APR accounts - that was the plan at least - I figured she'd get a $3-5k SL, but I know this card can be approved at low limits.

Approved for 21 month terms rather than 12, approved at 16.24% after that - rather than 21.24% and was given a starting limit of $10k. This was all done online, no recon and I/we sure did NOT use the mail offer ref number  

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Congrats,  care to share stats?

[NRB525]

Congratulations!

Way to shop the offers, knowing there might be a better combination out there.

[pizza1]

Congrats to you!!

[pipeguy]

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@12njoy wrote:

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@pipeguy wrote:

DW got a "pre-selected" Citi Simplicity offer in the mail today - kind of the sub-prime version of 12 months 0% for purchases and balance transfers and then 21.24% APR after that. As well advertised the value in this card is 21 months of 0% APR purchases and balance transfers, not 12 months and while the APR is really unimportant for the first 21 months, I'm not a fan of APR's over 20% or really over 15%.

Checked the pre-qualifed offers Citi page, same 12 month offer and a range of APR's so I went in through another site that offers credit card reviews (not sure I'm supposed to mention it in a post, but its one of the ones that comes up on a google search for "pre-qualified offers") and applied. I/we were going for the 21 month offer rather than 12 and she expects to BT 2 high APR accounts - that was the plan at least - I figured she'd get a $3-5k SL, but I know this card can be approved at low limits.

Approved for 21 month terms rather than 12, approved at 16.24% after that - rather than 21.24% and was given a starting limit of $10k. This was all done online, no recon and I/we sure did NOT use the mail offer ref number  

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Congrats,  care to share stats?

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For DW scores are 747 to 781, she has about $120k available in revolving limits, 11% utility before the new card so it should be 9.xx / just under 10% utility after this card reports, and low 6 figure income.  My stats are similar, lower utility, higher available credit limits, but I was not a co-applicant or AU on this application. No derogs on either of our accounts - any that once were are gone.

[12njoy]

Thanks for sharing  OP

[Anonymous]

Did you do the BT during the app process? also how many Inq? looking for data points

[pipeguy]

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@Anonymous wrote:

Did you do the BT during the app process? also how many Inq? looking for data points

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We did NOT do the balance transfers during the application - we'll do it once the card arrives. Inquires more than a few - lots(!) for me and more than 10 for her - but note this was her application, my stats have no bearing on this app at all.

Just an observation on inquiries, the first 2-3-4 will ding you but after maybe 5 or 6 there is very little if any effect on your scoring, at least with thicker files (doesn't mean you won't get turned down for a new card, but I think its a secondary factor-reason, not a primary reason-factor).