CITI SECURED CREDIT CARD-NEED HELP BEFORE APPLYING

[texasman07]

Hi all,

  I would like to open a Citi Secured card.  But not sure if I will get declined.  I heard of them cashing your check then sending a decline letter.  Here is my situation.  I do have a charge off in 2008 which went to collections in 2010. I have since paid the collections but it has been about 1 year and 3 months since my delinquincy.

I noticed on the application it states:

You must be at least 18 years of age. If you are married, you may apply for a separate account.

Citibank, N.A. ( we” or “us”) is the issuer of your account. You must not have any bankruptcy history,

write-off history or account in collections within the last two years

And this is on my report.  IS IT WORTH ME TRYING OR IS THIS A GOOD INDICATOR FOR DENIAL???

ID RATHER KEEP MY MONEY IF IM GOING TO GET DENIED ANYWAYS!!!!!!

FIRST BK OF DE/CONTINE
	EXPERIAN	EQUIFAX	TRANSUNION
Account Name:	FIRST BK OF DE/CONTINE
Account Number:	520605000219XXXX
Acct Type:	Credit Card
Acct Status:	Closed
Monthly Payment:
Date Open:	9/1/2007
Balance:
Terms:	Revolving
High Balance:
Limit:	$300.00
Past Due:
Payment Status:	Charge-off
Comments:	Transferred to another lender or claim purchased

MAIN STREET ACQUISITON
	EXPERIAN	EQUIFAX	TRANSUNION
Account Name:	MAIN STREET ACQUISITON
Account Number:	520605000219XXXX
Acct Type:	Debt Purchase
Acct Status:	Closed
Monthly Payment:
Date Open:	5/1/2010
Balance:
Terms:	1 Month
High Balance:
Limit:
Past Due:
Payment Status:	Paid, was a collection account, insurance claim or government claim or was terminated for default
Comments:	Account in dispute-reported by subscriber

[Anonymous]

I don't think that is a good idea to apply for Citi Secured with a credit like yours, I would not waste an inquiry

[Jennifer331]

I was thinking the same thing,  I have had my checking account with Citi for many years and was interested in applying for the Secured Card.  I was approved for the Orchard Bank secured so, I figured I would have a good chance with Citi.  Anyone know what are the chances of me being approved?

[texasman07]

Okay well I called Citibank ( My Local Branch) they said to come in and apply with Personal Banker. They can review my information and see if I will get approved.  They said also it would be a quicker turn around time.  I already have a checking account with them so I will go in today.  I will tell yall the results!

[texasman07]

i  BIT THE BULLET AND WENT IN TO MY BRANCH.  TOOK MY CREDIT REPORT WITH ME ALONG WITH MY FICO SCORES.  THE BANKER BASICALLY SAID ITS A 50/50 SHOT.  THE UNDERWRITERS MAKE THE DECISION AND HE DIDNT' HAVE CONTROL NOR DOES HE KNOW IF PAST COLLECTIONS WILL DENY ME EVEN IF THEY ARE PAID.  HE SAID IF YOU HAVE A BK (WHICH i DON'T) THEN FOR SURE ITS A DECLINE.  HE SPED UP THE PROCESS AND DID ALL THE PAPER WORK FOR ME AND MONEY ORDER FOR MY SECURITY DEPOSIT.  I SHOULD KNOW SOMETHING BY THE 19TH OF SEPTEMBER HE SAID. CROSSING MY FINGERS.  I WILL LET YALL KNOW

[Guava]

Best of luck Texasmang!

[Anonymous]

When i applied 2 years ago the only thing on my credit report was a charge off from credit one and i got approved. So hopefully you will get approved too. Good luck

[texasman07]

Im really praying that I get it! The bank rep asked me what other cards I have...I told him and he said well I got approved for all the others so who knows.  I have wanted this card for a while but have always been afraid of denial for some reason.  I just got a new job too so my salary increase was 25,000.00 More than what Im currently making.  Hoping they look at that too.

[Anonymous]

Congrats on the new job - that's a hefty salary increase!!!

[texasman07]

THANKS!!! I start Sept 06th and sooooooooo Excited. But now just entered the 70,000+ salary so I enter a  new tax bracket as well ! LOL